Fintech
Datametrex Earned $362K in Q3
- Recognized revenue of $7.6 million
- Earned $362K excluding non cash expenses
- Very strong balance sheet with $1.4M cash and $2M receivables
- Introduced Naxalogy’s Social Media Automated Reporting Technologies.
- Completed the second phase of a multi-phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security IDEaS program.
Toronto, Ontario–(Newsfile Corp. – November 25, 2020) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the “Company” or “Datametrex“) is pleased to announce record third quarter 2020 (“Q3”) financial and operating results. All currency is in Canadian dollars, unless otherwise stated. All results are reported on a 100% basis.
The Company’s revenue increased by 189% in Q3 compared to the same period of last year. The Company’s cash position improved significantly to $1,413,374 compared to $119,675 at the end of 2019. The net loss improved with a decrease of 35% to ($451,353) compared to ($695,803) in the same period of last year. There was a $607,997 of option issuance expense and $194,517 of Depreciation and Amortization expense, which are non-cash based expenses.
Excluding these expenses, the Company generated a net profit. This is reflected in Adjusted EBITDA. The Adjusted EBITDA showed a significant improvement achieving a positive Adjusted EBITDA of $362,059, compared to ($539,116) in the same period of last year.
“In Q3 2020, the Company achieved multiple key milestones, a significant increase in gross revenue and improvement in its cash position. This positive outcome was a direct result of our quick response in implementing a plan to begin selling test kits as result of the global impact of the COVID-19 virus. This resulted in a substantial improvement to the bottom line,” said Marshall Gunter, CEO of the Company.
Business Outlook
AI and Technology
The Company is now targeting larger bids with the Canada’s Industrial and Technological Benefits (“ITB”) program that are in the range of tens of millions of dollar. At the same time, we are continuing to work with the United States Air Force (“USAF”), Office of Naval Reesarch (“ONR”) and the Defence Research and Development Canada (“DRDC”).
The Company is also continuing to expand its product and, as such, Nexalogy SMART technology will be available imminently on the market.
Our footprint in Korea continues to expand as demonstrated by the recent growth in our revenue. We are looking to bring the formula used in Korean sales to Canada and the United State for the private sector.
COVID-19 Test Kits
The Company continues to expand our footprint with film production companies and mining companies, performing approximately 5,000 tests a week. We expect the number of tests per week to grow continuously as the Company is now running tests in Vancouver, Toronto and Montreal.
Highlights for Q3 2020
- Recognized revenue of $7.6 million for the nine-month 2020 period compared to $2.6 million in same period 2019, of which $4.9 million was earned in the third quarter.
- The Company started securing and delivering purchase orders of COVID-19 test kits and generated $2.3 million COVID-19 related revenue in Q3 2020.
- The Company has received $1.8 million from the exercise of share purchase warrants and options.
- The Company introduced Naxalogy’s Social Media Automated Reporting Technologies.
- The Company completed the second phase of a multi-phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security IDEaS program.
Financial Highlights
The following table summarizes revenue, net loss and EBITDA* and Adjusted EBITDA* for the three and nine months ended September 30, 2020 and 2019.
| Three months ended June 30 |
Nine months ended September 30 |
|||||||||||
| 2020 | 2019 | % | 2020 | 2019 | % | |||||||
| $ | $ | $ | $ | |||||||||
| Revenue | 4,862,325 | 1,683,985 | 189% | 7,626,121 | 2,559,068 | 198% | ||||||
| Net loss | (451,353) | (695,803) | 35% | (2,041,592) | (2,612,557) | 22% | ||||||
| EBITDA* | (245,938) | (539,116) | 54% | (1,443,617) | (2,092,872) | 31% | ||||||
| EBITDA per share* | (0.001) | (0.002) | 61% | (0.006) | (0.009) | 38% | ||||||
| Adjusted EBITDA* | 362,059 | (539,116) | 167% | 8,630 | (2,092,872) | 100% | ||||||
| Adjusted EBITDA per share* | 0.001 | (0.002) | 158% | 0.000 | (0.009) | 100% | ||||||
* Note: EBITDA (non- IFRS measures) is calculated as Net Loss adjusted for 1. Income taxes, 2. Depreciation and amortization, and 3. Interest and accretion. Adjusted EBITDA (non-IFRS measures) is calculated as EBITFA adjusted for share based compensation.
Non-IFRS financial measures do not have standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Specific items may only be relevant in certain periods. For reconciliation of non-IFRS financial measures please refer to the Company’s Management Discussion and Analysis for the nine months ended September 30, 2020.
The Company’s Financial Statements and Management Discussion & Analysis (“MD&A”) are at SEDAR at www.sedar.com.
About Datametrex
Datametrex AI Limited is a technology-focused 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 support companies in fulfilling their operational Health and Safety goals with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.
Additional information on Datametrex is available at www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
Email: [email protected]
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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