Toronto, Ontario – (Newsfile Corp. – November 29, 2021) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce the record achievement in the history of the Company. Datametrex has filed its financial statements on SEDAR (“FS“) and related management discussions and analyzes (“MD&A”) for the nine-month financial results ended September 30, 2021 (“Q3 2021”). All currencies are in Canadian dollars, unless otherwise indicated.
The following is a selection of financial information for the financial results for the quarter ended September 30, 2021, as well as comparative results. Please refer to the full Q3 2021 dossier, which is available under Datametrex’s profile at www.sedar.com.
Financial summary for Q3 2021
The company’s financial performance improved tremendously in the third quarter compared to the third quarter of 2020, and has been attributed to growth in its COVID-19 sales and related services with the film industry and production and to the adoption of its health technology business.
The Company reported nine-month gross revenues of $ 40,315,888 compared to $ 7,626,121, gross profit of $ 19,309,184 compared to $ 2,344,489, EBITDA of $ 13,670,390 compared to (1,443,617 $), adjusted EBITDA of $ 16,940,830 compared to $ 8,630 and net income of $ 10,580,779 compared to $ 2,057 ($ 2,057) 2020. Adjusted EBITDA reflects the operations of the Company, as of ‘exclusion of non-cash items.
âWe are satisfied with the financial results we achieved in the nine months of 2021 and remain optimistic about our outlook with calculated progress in the current operating environment as we move forward into the remainder of 2021. We continue to look forward to a recovery in profitability and to We also continue to work towards winning the $ 40 million contract, and we are confident that we should be able to share the good news in the near future, âcommented Marshall Gunter, CEO from Datametrex.
Financial Highlights for Financial Results Ended September 30, 2021 (Q3):
|Q3 2021 (9 months)||Q3 2020 (9 months)||% of difference||Q3 2021 (3 months)||Q3 2020 (3 months)||% of difference|
|Returned||$ 40,315,888||$ 7,626,121||429%||$ 10,821,697||$ 4,862,325||123%|
|Gross profit||$ 19,309,184||$ 2,344,489||724%||$ 3,021,838||$ 1,160,482||160%|
|Net profit||$ 10,580,779||($ 2,041,592)||618%||$ 170,294||($ 695,803)||124%|
|EBITDA||$ 13,670,390||($ 1,490,579)||1.017%||$ 1,420,179||($ 466,935)||404%|
|Adjusted EBITDA||$ 16,940,830||($ 38,332)||44.295%||$ 1,420,179||$ 141,062||907%|
|Earnings per share||$ 0.034||($ 0.08)||525%||$ 0.001||($ 0.003)||133%|
* Note: EBITDA (non-IFRS measures) is calculated as adjusted net loss for 1. Income taxes, 2. Depreciation and amortization, and 3. Interest and accrual. Adjusted EBITDA (non-IFRS measures) is calculated as EBITFA adjusted for share-based compensation.
Non-IFRS financial measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Specific elements may only be relevant during certain periods. For the reconciliation of non-IFRS financial measures, please refer to the Company’s MD&A for the nine-month period ended September 30, 2021.
âI am extremely proud of our entire team and we continue to experience growth through our growing and diverse portfolio. The future prospects of Datametrex continue to develop with our growing customer base and we look forward to continuing to execute our plan. ‘business for the growth of the Company,’ commented Andrew Ryu, president of Datametrex.
The Company’s assets have also improved considerably.
|Q3 2021||Q3 2020||Change in dollars||Percentage of change|
|Total assets||$ 38,623,133||$ 9,959,936||$ 28,663,197||287.8%|
|Total responsibilities||$ 7,285,573||$ 5,160,708||$ 2,124,865||41.2%|
Third Quarter Business Highlights and Subsequent Events
- The Company’s revenues increased 122.6% in Q3 2021 compared to Q3 2020, generating more than $ 10.82 million in revenues.
- The Company has cash and marketable securities of $ 12,915,840.
- The company entered into a $ 250,000 contract with a Canadian tech company on an artificial intelligence (âAIâ) contract and received the first 50% payment on August 23, 2021.
- Datametrex AI Limited has received further purchase orders for approximately CAD $ 750,000 from LOTTE Data Communication Co., Ltd. and LOTTE Hi-Mart Co., Ltd., and Shinhan Financial Group.
- Datametrex AI Limited has received additional purchase orders for approximately CAD $ 950,000 from Lotte Data Communication Co., Ltd., Samsung Electronics Co., Ltd. and the Shinhan Financial Group.
- The Company remains an approximately 9% shareholder of Graph Blockchain (CSE: GBLC)
- On August 4, 2021, Datametrex announced that it had passed the second round of examining a Canadian AI application. The expected value of the contract is approximately $ 40 million. The firm offer remains subject to the satisfaction of all criteria of technical merit and ability to deliver in accordance with tender procedures and deadlines.
- On November 12, 2021, the Company completed the sale of Medi-Call Inc. (“Medi-Call”) by selling 100% of the issued and outstanding share capital of the Company to ScreenPro Securities Inc. (CSE: SCRN), an arm’s length public company incorporated under the laws of the Province of British Columbia. Following the acquisition, the Company received 36,000,000 SCRN shares.
Despite a significant market slowdown due to the pandemic, the Company anticipates continued growth in its activity and an improvement in its balance sheet thanks to a solid cash position. The Company continues to focus on expanding and improving its AI business, with the Company expecting significant growth in both its existing cybersecurity AI verticals and in new ones. health technology verticals on which the Company relies.
Unfortunately, even with populations vaccinated and as the contagious Delta variant continues to circulate, there is clear and growing evidence that people are contracting groundbreaking COVID-19 infections. Testing and contact tracing is a COVID-19 preventative action that will continue for years to come. Only 29.6% of the world’s population have received at least one dose of a COVID-19 vaccine and 15.2% are fully immunized.
Datametrex AI Limited is a technology-driven company with exposure to artificial intelligence and machine learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex’s mission is to provide tools that help businesses achieve their operational goals, including health and safety, with predictive and preventative technologies. By working with businesses to set a new standard for protocols through artificial intelligence and health diagnostics, the company is providing progressive solutions to support the supply chain.
For more information about Datametrex and other company information, please visit the Company’s website at www.datametrex.com.
For more information, please contact:
Marshall Gunter – CEO
Telephone: (514) 295-2300
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that deal with activities, events or developments that the Company expects, believes or anticipates will occur or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors that it deems appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties which contribute to the possibility that predictions, forecasts, projections and other forward-looking statements may prove to be inaccurate, some of which are beyond the control of the Company. In particular, there is no guarantee that the parties will successfully negotiate and reach a definitive agreement on mutually acceptable terms or complete the transaction in the manner contemplated herein, if any, that the due diligence of either satisfactory, or that the parties will obtain the required approvals from the board of directors, shareholders, third parties and / or regulatory or governmental authorities, as the case may be. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unforeseen future events.
NON-IFRS FINANCIAL MEASURES
The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings before interest, taxes, depreciation and amortization (“EBITDA”); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on the change in the fair value of the Company’s investment properties and the gain (loss) on the change in the fair value of derivative instruments; and (c) the book value per share which is calculated as the equity attributable to shareholders of Datametrex AI Limited divided by the total common shares outstanding at the end of the reporting period. These non-IFRS financial measures do not have a standardized meaning as prescribed by International Financial Reporting Standards (“IFRS”) and are therefore not likely to be comparable to similar measures presented by other issuers. Therefore, these performance measures are intended to provide additional information and should not be viewed in isolation or as a substitute for performance measures prepared in accordance with IFRS. Management uses EBITDA measures to measure profit trends for business units and segments of the consolidated group, as it eliminates the effects of financing decisions. Certain investors, analysts and others use these non-IFRS financial measures to assess the financial performance of the Company. These non-IFRS financial measures have not been presented as an alternative to net income or any other financial performance measure prescribed by IFRS. The reconciliation of non-IFRS measures has been provided in the Company’s MD&A, if applicable, filed under the Company’s profile on www.SEDAR.COM.
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