Fintech
Datametrex Reports Record Annual Financial Results with $49 Million of Revenue
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Record Revenue of Over $49M up 296%
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Record Adjusted EBITDA* of $15M up 1,838%
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Net Earnings of $9M up 282%
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Positive Cash Flow from Operations of $11M up 2,025%
Toronto, Ontario–(Newsfile Corp. – May 2, 2022) – 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 year end results ending December 31, 2021 (“Q4 2021”).
2021 Financial Summary
The Company’s financial performance vastly improved in the fourth quarter, attributed by growth in its core AI technology business and uptake in its health security business involving COVID-19 testing services.
The Company reported record revenue of $49 million, 296% increase, and net earnings of $9 million, a 282% increase, compared to a $5 million loss in 2020. Adjusted EBITDA also improved significantly, $15 million in 2021 compared to a negative $862,494 in 2020, improving by 1838%. This Adjusted EBITDA* reflects the Company’s operations, not including non-cash items. The Company significantly improved its cash balance from $2 million to $15 million, up 681% from December 31, 2020. The Company also added marketable securities of over $2 million to the balance sheet.
“The 2021 financial results reflect another strong period as the Company successfully grows its core AI business and continues to accelerate within the telehealth and health security verticals,” said Marshall Gunter, CEO of the Company.
“We have entered 2022 coming off a record 2021 year in revenue and positive cash flow. The momentum will only continue to build as we continue quarter over quarter. The Company is focused on increasing revenue with continued AI government contracts and the launch of our telehealth app, “Medi-Call”, in the health security vertical. Future acquisitions will only advance Datametrex as an industry leader and continue to increase revenue,” said Andrew Ryu, Chairman of the Company.
The following financial information from the financial results ending December 31, 2021, and Management Discussion & Analysis (“MD&A”) are available for review on SEDAR.
Please refer to the Q4 2021 filing in its entirety, which is available under Datametrex’ profile at www.sedar.com.
Financial Highlights: Financial results for twelve months ended December 31, 2021:
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Revenue was $49 million compared to $12 million for the same period in 2020, an increase of 296%.
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The Company’s cash position improved significantly; $15 million compared to $2 million at the end of 2020.
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The Company added marketable securities of over $2 million.
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The Company’s net earnings were $9 million compared to the net loss of $5 million.
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Gross margin was $21 million compared to $3 million in the previous year, which is an increase of 604%.
The following table summarizes revenue, net loss, and EBITDA* and adjusted EBITDA* for the year ended December 31, 2021, and 2020.
All figures are in Canadian dollars unless otherwise noted.
| December 2021 | December 2020 | % Change | |
| Total revenue | $49,029,040 | $12,378,024 | 296% |
| Net Income/(Loss) | $9,090,124 | $(5,006,276) | 282% |
| Income Tax Expenses | $(2,675,670) | $(602,300) | 344% |
| Net income (loss) per share – basic | $0.028 | $(0.020) | 240% |
| Depreciation and amortization | $1,511,704 | $751,099 | 101% |
| EBITDA* | $13,280,056 | $(3,605,388) | 468% |
| Share based compensation | $1,709,940 | $2,742,894 | 38% |
| Adjusted EBITDA* | $14,989,996 |
$(862,494) | 1838% |
| December 2021 | December 2020 | Dollar Change | Percent Change | |
| Total Assets | $42,640,643 | $9,998,329 | $32,642,314 | 326% |
| Total Liabilities | $10,151,618 | $6,751,972 | $3,399,646 | 50% |
Outlook
The Company’s financial performance greatly improved in the fourth quarter. The Company continues to focus and expand it’s AI business and expects to see significant growth in the electric vehicle vertical as well as continued expansion in telehealth with the launch of Medi-call.
- In March of this year, the Company’s wholly owned subsidiary, Nexalogy (“Nexalogy”) successfully completed the first phase of its artificial intelligence contract with the Canadian government.
- In November 2021, the Company received a P.O. for up to $1 million from an electric vehicle charging platform company and is looking forward to entering the electric vehicle space this year.
- The Company officially moved into the telehealth vertical with the launch of its Medi-Call health app in April 2022 and has started taking its first orders. Medi-Call will be expanding to in-person visits in the upcoming months. The Company looks forward to expanding Medi-Call’s geographic footprint this year.
- The Company has seen an increase in demand for COVID-19 testing. This resulted in tremendous growth in testing within the film and production industry. In March alone, the Company conducted 25,333 COVID-19 tests and continues to build in this area.
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (http://www.nexalogy.com). Datametrex’ 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:
Investor Relations & Communications
Kristina Colpitts
Email: [email protected]
Telephone: 416-901-5611 x 204
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.
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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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