SOS stock jumps as 2021 revenue soars over 600% on crypto mining, commodity trading

China-based SOS (NYSE:SOS) shares are grinding higher by nearly 40% in Monday afternoon trading as full-year net revenue surged 612% Y/Y to $357.8M, driven by the addition of its cryptocurrency mining and commodity trading operations. Crypto mining revenue of $15.43M in 2021 accounted for 4.3% of total sales, while commodity trading revenue of $275.4M reflected 77.0% of total sales. Operating costs of $336.8M in 2021 soared from $37.3M in 2020. Overall, 2021 gross profit of $21.1M jumped from $13.0M over the same period a year ago. But gross profit ratio of 5.9% in 2021 vs. 25.8% in 2020. On its cash flow statement, net loss from operating activities were $49.3M last year, down from a profit of $4.4M in 2020. Furthermore, "our aspiration is to expand beyond China especially in North America," said CEO Yandai Wang. "We are in the process of building a leading supercomputer center in North America which will provide customers with cryptocurrency mining