Private company

Tingo Group, Inc.

Tingo Group, Inc. is an American Food and Kindred Products company, incorporated in Delaware.1 It is headquartered in Montvale, New Jersey.1

Last updated Oct 20, 2026.

Overview

  • IndustryFood and Kindred Products1
  • HeadquartersMontvale, New Jersey1
  • Incorporated inDE2
  • Business address28 West Grand Avenue, Suite 3, Montvale, Nj 076452
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

44.4%Gross margin3
-8.1%Operating margin3
-32.2%Net margin3
162.3%Revenue growth, 20223
-6.1%Return on equity3
0.00×Debt to equity3
$6.4MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Cost of revenue56¢$81.2M
  • Research and development1¢$1.7M
  • Other costs18¢$25.6M
  • Income tax26¢$37.5M

Out of $146.0M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Capital spending86¢$39.6M
  • Kept or used elsewhere14¢$6.4M

Out of $46.0M of cash from operations.3

Financial statements

Revenue456783$146.0M in 2022+999% since 2016
0$50.0M$100.0M$150.0M2016: $13.3M$13.3M20162017: $18.4M$18.4M2017+38%2018: $14.2M$14.2M2018−23%2019: $477.0K$477.0K2019−97%2020: $1.2M$1.2M2020+146%2021: $55.7M$55.7M2021+4646%2022: $146.0M$146.0M2022+162%
Gross profit456783$64.8M in 2022+2366% since 2016
-$20.0M0$20.0M$40.0M$60.0M$80.0M2016: $2.6M$2.6M20162017: $4.3M$4.3M2017+63%2018: $3.5M$3.5M2018−18%2019: -$369.0K-$369.0K20192020: -$58.0K-$58.0K2020−84%2021: $9.2M$9.2M20212022: $64.8M$64.8M2022+603%
Operating income456783-$11.8M in 2022+97% since 2016
-$40.0M-$30.0M-$20.0M-$10.0M02016: -$6.0M-$6.0M20162017: -$4.7M-$4.7M2017−22%2018: -$9.1M-$9.1M2018+95%2019: -$3.9M-$3.9M2019−57%2020: -$16.6M-$16.6M2020+329%2021: -$37.9M-$37.9M2021+129%2022: -$11.8M-$11.8M2022−69%
Net income456783-$47.1M in 2022+711% since 2016
-$60.0M-$40.0M-$20.0M02016: -$5.8M-$5.8M20162017: -$8.2M-$8.2M2017+40%2018: -$2.6M-$2.6M2018−68%2019: -$4.2M-$4.2M2019+62%2020: -$23.0M-$23.0M2020+445%2021: -$36.4M-$36.4M2021+58%2022: -$47.1M-$47.1M2022+29%
Fiscal year2016201720182019202020212022
Revenue$13.3M4$18.4M5$14.2M6$477.0K7$1.2M8$55.7M3$146.0M3
Cost of revenue$10.7M4$14.1M5$10.7M6$846.0K7$1.2M8$46.5M3$81.2M3
Gross profit$2.6M4$4.3M5$3.5M6-$369.0K7-$58.0K8$9.2M3$64.8M3
Research and development$1.8M4$2.0M5$1.9M6$255.0K7$484.0K8$889.0K3$1.7M3
Operating expenses$47.1M3$76.6M3
Operating income-$6.0M4-$4.7M5-$9.1M6-$3.9M7-$16.6M8-$37.9M3-$11.8M3
Interest
Income before tax-$39.3M3-$10.4M3
Income tax-$45.0K4-$10.0K5$606.0K6$17.0K7-$326.0K8-$1.8M3$37.5M3
Net income-$5.8M4-$8.2M5-$2.6M6-$4.2M7-$23.0M8-$36.4M3-$47.1M3
Earnings per share-$0.9712-$0.397-$0.838-$0.323-$0.363
Earnings per share (diluted)-$0.323-$0.363
Shares (weighted, basic)112.6M shares3129.3M shares3
Shares (weighted, diluted)112.6M shares3129.3M shares3

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Corporate structure

Tingo Group, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Tingo Group, Inc.

  • Hudson Bay Capital Management LP Filed SC 13G/A on Tingo Group, Inc., latest Feb 6, 2024 (2 filings since Feb 3, 2022)
  • Altium Capital Management LLC Filed SC 13G/A on Tingo Group, Inc., latest Feb 14, 2022
  • Tingo Group, Inc. Montvale, New Jersey

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Tingo Group, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.5B3 Dec 31, 2022$1.2M3 Dec 31, 2021+123302.9%
Accumulated depreciation$628.2M3 Dec 31, 2022$525.0K3 Dec 31, 2021+119553.0%
Property and equipment, net$855.1M3 Dec 31, 2022$677.0K3 Dec 31, 2021+126210.9%
Operating-lease assets (leased space)$2.3M3 Dec 31, 2022$1.9M3 Dec 31, 2021+17.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$500.3M3 Dec 31, 2022$96.6M3 Dec 31, 2021+417.8%
Long-term investments$735.0K3 Dec 31, 2022$1.5M3 Dec 31, 2021−50.4%
Deposits held (banks)$1.3M8 Dec 31, 2021

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$101.2M3 Dec 31, 2022$19.8M3 Dec 31, 2021+411.7%
Intangible assets, net (excluding goodwill)$185.4M3 Dec 31, 2022$21.4M3 Dec 31, 2021+764.7%
Finite-lived intangibles, gross$195.4M3 Dec 31, 2022$25.9M3 Dec 31, 2021+655.0%
Accumulated amortization-$10.0M3 Dec 31, 2022-$4.4M3 Dec 31, 2021−125.8%
Finite-lived intangibles, net$178.0M3 Dec 31, 2022$21.4M8 Dec 31, 2021+730.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$10.4M3 Dec 31, 2022$39.3M3 Dec 31, 2021−73.6%

Leadership

Who has led Tingo Group, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David Lucatz2013–2020
  2. Shai Lustgarten2014–2015
  3. Darren Mercer2021–2023

President

  1. David Lucatz2013–2020

Chief financial officer

  1. Tali Dinar2013–2018
  2. Eyal Leibovitz2015
  3. Oren Harari2017
201520202025
Board members and other officers (12)

Former names

  • MICT, Inc.Aug 13, 2018 to Feb 15, 20232
  • MICRONET ENERTEC TECHNOLOGIES, INC.Jan 10, 2013 to Jul 13, 20182
  • LAPIS TECHNOLOGIES INCNov 4, 2002 to Mar 12, 20132

Timeline

  1. Jan 22, 20248-K Change of auditor30
  2. Jan 17, 20248-K Listing notice or transfer31
  3. Jan 2, 20248-K Shareholder vote32
  4. Dec 28, 20238-K Executive or director change33
  5. Dec 26, 20238-K Earlier financial statements no longer reliable34
  6. Dec 21, 20238-K Executive or director change; Other events35
  7. Nov 30, 20238-K Unregistered sale of shares36
  8. Nov 24, 20238-K Executive or director change; Other events37
  9. Nov 15, 20238-K Results of operations; Listing notice or transfer; Executive or director change38
  10. Oct 2, 20238-K Unregistered sale of shares; Executive or director change; Bylaws or fiscal year changed39
  11. Oct 2, 20238-K Regulation FD disclosure40
  12. Sep 29, 20238-K Entered a material agreement41
  13. May 21, 2021New chief executive Darren Mercer becomes CEO13
  14. Nov 12, 2014New chief executive Shai Lustgarten becomes CEO14
  15. Apr 23, 2013New chief executive David Lucatz becomes CEO15

Calendar

When it reported results

  1. Nov 15, 2023Reported quarterly or annual results38
  2. Aug 31, 2023Reported quarterly or annual results42
  3. May 15, 2023Reported quarterly or annual results43
  4. Mar 31, 2023Reported quarterly or annual results44
  5. Nov 14, 2022Reported quarterly or annual results45
  6. Aug 22, 2022Reported quarterly or annual results46
  7. Nov 15, 2021Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

130 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 50 major events, 32 insider forms, 5 large holders, 34 other. The latest 20:

  1. Apr 8, 2024SEC STAFF ACTION EDGAR
  2. Mar 1, 202425 EDGAR
  3. Feb 6, 2024SC 13G/A TIO 13GA EDGAR
  4. Jan 22, 20248-K CURRENT REPORT EDGAR
  5. Jan 17, 20248-K CURRENT REPORT EDGAR
  6. Jan 2, 20248-K CURRENT REPORT EDGAR
  7. Dec 28, 20238-K CURRENT REPORT EDGAR
  8. Dec 26, 20238-K CURRENT REPORT EDGAR
  9. Dec 21, 20238-K CURRENT REPORT EDGAR
  10. Dec 6, 2023DEF 14A PROXY STATEMENT EDGAR
  11. Nov 30, 20238-K CURRENT REPORT EDGAR
  12. Nov 24, 2023PRE 14A PROXY STATEMENT EDGAR
  13. Nov 24, 20238-K CURRENT REPORT EDGAR
  14. Nov 20, 202310-Q QUARTERLY REPORT EDGAR
  15. Nov 15, 2023NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  16. Nov 15, 20238-K CURRENT REPORT EDGAR
  17. Nov 13, 20234/A EDGAR
  18. Oct 26, 2023SC 13D/A SCHEDULE 13D/A 2 EDGAR
  19. Oct 26, 2023SC 13D/A SCHEDULE 13D/A-1 EDGAR
  20. Oct 25, 20234/A EDGAR

The 130 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 9, 2023AGRI-FINTECH HOLDINGS, INC.10% ownerSale2,000,000$0.70$1.4MForm 4
Oct 13, 2023AGRI-FINTECH HOLDINGS, INC.10% ownerSale10,000,000$0.90$9.0MForm 4
Oct 13, 2023AGRI-FINTECH HOLDINGS, INC.10% ownerSale10,000,000$0.90$9.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Tingo Group, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTingo Group, Inc.1
  • CIK0000854800
  • Employer ID (EIN)27-00164201
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)2000 Food and Kindred Products1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address28 West Grand Avenue, Suite 3, Montvale, NJ 076451
  • Phone201-225-01901
  • Shares outstanding241,952,977 as of Nov 19, 202311
  • Public float$59.8M as of Jun 30, 20223
  • On EDGAR sinceNov 4, 20021
  • Filings628 in all: 8-K (193), 4 (80), 10-Q (48), 3 (22), NT 10-Q (19), 424B2 (17), 425 (16), 10-K (15)1
    All 59 form types

    CORRESP (15), UPLOAD (14), DEFA14A (13), 10QSB (12), DEF 14A (11), EFFECT (11), SB-2/A (11), 8-K/A (10), SC 13G/A (9), 4/A (7), S-3 (6), S-3/A (6), SC 13G (6), 10KSB (5), 424B5 (5), POS AM (5), PRE 14A (5), S-1/A (5), S-8 (5), SC 13D/A (5), SC TO-T/A (5), SD (5), SC14D9C (4), NT 10-K (3), PRER14A (3), SC 13D (3), 424B3 (2), PREM14A (2), SC 14D9 (2), SC TO-C (2), 10-K/A (1), 10-Q/A (1), 10KSB/A (1), 15-12B (1), 25 (1), 25-NSE (1), 424B4 (1), 5 (1), 8-A12B (1), CERTNAS (1), DEFM14A (1), DEFR14A (1), FWP (1), PRE 14C (1), RW (1), S-1 (1), S-3MEF (1), S-4 (1), SB-2 (1), SC TO-T (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2023
    Quarterly report (10-Q) Nov 20, 2023
    Proxy statement (DEF 14A) Dec 6, 2023
    Latest 8-K (8-K) Jan 22, 2024

Sources

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