• Record Q1 Revenue of $19.04 Million up 2,253%
• Record Adjusted EBITDA of $10.68 Million up 1,548%
• Net Earnings of 9,560,351 up 1,425%

Toronto, Canada–(Newsfile Corp. – May 31, 2021) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to report the record achievement in the history of the Company. Datametrex has filed on SEDAR its financial statements (“FS“) and related management discussion and analysis (“MD&A”) for the three-month financial results ending March 31, 2021 (“Q1 2021”).

Q1 2021 Financial Summary

The Company’s financial performance immensely improved in the first quarter, attributed by growth across its COVID-19 sales and its related services with the film and production industry and uptake in its health technology business.

The Company reported record revenue of $19,045,888, 2,253% increase, and net earnings of $9,560,351, 1,425% increase, compared to Q1, 2020. Adjusted EBITDA also improved significantly $10,684,254 in Q1 2021 up 1,548% compared to ($737,698) in Q1 2020. This Adjusted EBITDA reflects the Company’s operations, not including non-cash items. The Company also significantly improved its cash balance, up 17,044% from Q1 2020.

The following is selected financial information for the three-month financial results ending March 31, 2021, along with comparative results. Please refer to the Q1 2021 Filing in its entirety, which is available under Datametrex’s profile at www.sedar.com.

“The Company’s first-quarter results reflect another record period of strong execution as we continue to build an integrated health technology company,” commented Marshall Gunter, CEO of Datametrex.

“We have entered 2021 coming off a record 2020 year in revenue and this trend will only continue to improve quarter over quarter as we focus on increasing our revenue channel with strategic funding of our sales and operations teams to drive business. Additionally, any future acquisitions in the pipeline will accelerate the development of our health technology business steering expansion efforts that will help accelerate our ability to continue to increase our revenue,” said Andrew Ryu, Chairman of the Company.

Financial Highlights for three-month financial results ended March 31, 2021 (Q1):

• Revenue of $19,045,888 for Q1 compared to revenue of $809,402.
• Net earnings of $9,560,351 compared to ($721,761).
• EBITDA of $10,684,254 compared to ($737,698).
• Cash balance of $4,619,908 compared to a cash balance of $26,948.

All figures are in Canadian dollars unless otherwise noted:

The following reconciles the net income, EBITDA and Adjusted EBITDA (non-IFRS):

Advertisement

The following presents Book value per share (“BVPS”). Please refer to the note at the end of this news release concerning non-IFRS financial measures.

Q1 Highlights and Subsequent Events

• The Company’s revenue increased by 2,253% in Q1 2021 compared to Q1 2020 bringing in over $19M in revenue.

• The Company closed its acquisition of 100% of Concierge Medical Consultants Inc.’s issued and outstanding securities, pursuant to terms of the share exchange agreement entered into between the Company, Concierge, and the shareholders of Concierge.

• The Company entered into a Letter of Intent, to acquire 100% of the issued and outstanding share capital of a telemedicine company, an arm’s length privately held company, incorporated under the laws of the Province of British Columbia.

• The Company’s common shares began trading on the OTCQB® Venture Market

• Health Canada (“HC”) approved the PCL Inc.’s (“PCL”) COVID19 AG Rapid test kit (“PCL Antigen”), an antigen point-of-care rapid test device under the Interim Order (“IO”) Respecting the Importation and Sale of Medical Devices for Use in Relation to COVID-19.

• The Company renewed and extended its current sales agreements on January 15, 2021, with LOTTE Global Logistics, LOTTE Duty-Free Shops, and LOTTE Home Shopping, LOTTE Super, collectively LOTTE, for technology services and maintenance.

• The Company remains a significant shareholder of Graph Blockchain (CSE: GBLC)

• The Company has opened in partnership with ScreenPro Security Inc. (CSE: SCRN) a COVID-19 testing clinic in Vancouver, British Columbia located in the Coal Harbor.

• The Company implemented a new COVID-19 testing program for all the Company employees, consultants, technicians, nurses, and lab partner employees.

Outlook

Despite a significant market slowdown due to the pandemic, the Company continued to improve its businesses in Q1. The Company continues focusing its resources on expanding and improving its AI business in 2021, with the Company expecting to see significant growth in both its existing cybersecurity AI verticals and new health technology verticals that the Company is exploring.

As the Company further integrates the medical concierge business, the Company sees a significant upside as the COVID-19 pandemic shows signs that point to more healthcare being administered at home.

Given the significant surge in the need for additional healthcare resources, establishing alternative healthcare options becomes critical. Datametrex understands that non-acute healthcare can mitigate exposing patients and their families to COVID-19. The Company is exploring deploying a variety of audio and video technology powered by its battle-tested AI technology to expand telemedicine services.

About Datametrex

Advertisement

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 goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.

For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.

For further information, please contact:

Marshall Gunter – CEO
Phone: (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.

Forward-Looking Statements:

All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will 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, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. 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 revise them to reflect the occurrence of future unanticipated events.

NON-IFRS FINANCIAL MEASUREMENTS

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 change in fair value of the Company’s investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company’s financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company’s MD&A, as applicable, filed under the Company’s profile on www.SEDAR.COM.

###

Advertisement

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85736