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Hello Pal Announces New Record of $2,795,000 in Revenue for January 2021
Hello Pal's livestreaming service achieved yet another significant milestone in revenue for the first month of 2021. Operating under a CAD/CNY exchange rate of 5.05 as of February 2, 2021 , the Company earned record revenue of $2,795,000 CAD. This represents a 32% increase over the previous record high revenue in December 2020. Gross margin for the month was 13%.
The livestreaming service continues to be the main driving force providing a steady and growing source of revenues for the company. For 2020, Hello Pal has seen an average revenue of approximately $1,000,000 CAD. (see chart below).
The Company is also pleased to note that revenue from users outside of China now accounts for 10% of its total revenue, having increased from 6.5% the previous month, and 3% from November 2020. Gross margin is also 13% on this revenue.
"It's great to see another record month, but we are even more pleased to see our efforts in expanding into the overseas livestreaming markets starting to pay off," said KL Wong, Founder and Chairman of the Company.
As of the date of the news release, Hello Pal's registered userbase is over 5.4 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Photo: https://mma.prnewswire.com/media/1434345/Hello_Pal.jpg