Fintech
Datametrex Earns over $1.3M with over $10M Revenue in First Quarter
- Significant increase in AI and Technology Revenue of $2.1 million, up 337%.
- Increased strong cash balance of $15.7 million, up 240%.
Toronto, Ontario–(Newsfile Corp. – May 30, 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 quarterly results ending March 31, 2022 (“Q4 2022”).
Q1 2022 Financial Summary
The Company’s financial performance improved in the first quarter, attributed mostly to significant growth in its core artificial intelligence (AI) technology business with secondary revenue from its health tech business, including COVID-19 testing.
The Company reported revenue of $10 million and net earnings of over $1.35 million and adjusted EBITDA of over $3.16 million. This Adjusted EBITDA* reflects the Company’s operations, not including non-cash items. The Company significantly improved its cash balance from $4 million to over $15.7 million, up 240% from March 31, 2021.
“Our 2022 first-quarter results reflect another strong period with momentum as the Company continues to grow its core AI business and evolve from health security and begin to ramp up with our telehealth and EV verticals,” said Marshall Gunter, CEO of the Company.
The following financial information from the financial results ending March 31, 2022, and Management Discussion & Analysis (“MD&A”) are available for review on SEDAR.
Please refer to the Q1 2021 filing in its entirety, which is available under Datametrex’s profile at www.sedar.com.
Financial highlights for three-month financial results ended March 31, 2022 (Q1):
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.
| March 2022 | March 2021 | % Change | |
| Total revenue | $10,714,141 | $19,045,888 | -44% |
| Net Income/(Loss) | $1,352,550 | $9,560,351 | -85% |
| Income Tax Expenses | $(71,697) | $(922,603) | -92% |
| Net income (loss) per share – basic | $0.01 | $0.03 | -67% |
| Depreciation and amortization | $641,110 | $190,366 | 238% |
| EBITDA* | $2,068,192 | $10,684,254 | -81% |
| Share based compensation | $1,098,232 | $3,268,404 | -66% |
| Adjusted EBITDA* | $3,166,424 | $13,952,658 | -77% |
| March 2022 | March 2021 | Dollar Change | Percent Change | |
| Total Assets | $45,799,733 | $42,640,643 | $3,159,090 | 7% |
| Total Liabilities | $10,859,533 | $10,151,618 | $707,915 | 7% |
Q1 Highlights and Recent Developments
- The Company’s board of directors approved the decision to initiate a move to the TSX main board.
- The Company graduates to Tier 1 status from Tier 2 on the TSXV effective February 8, 2022.
- In March of this year, the Company’s wholly-owned subsidiary, Nexalogy (“Nexalogy”) successfully completed the first phase of a $40M artificial intelligence (AI) contract with the Canadian government.
- The Company completed the initial stages of EV initiatives and announces using their proprietary AI engine to address the EV charging market.
- The Company expands operations for their Medi-Call telehealth application with the goal to expand rapidly into the telehealth vertical. On March 1, 2022, the Company began beta testing with a focus group of patients and physicians.
- The Company was recognized as “Most Promising Canadian Tech Company” by an online publication, CIOReview.
Outlook
The Company’s financial performance has been steady in the first quarter with a significant increase in revenue from its AI technology business, despite a cooling market. The Company continues to focus on building out the telehealth vertical and expects Medi-Call to generate revenue by Q3. The Company plans to introduce the Medi-Call app to the public with the pending release on the app store which will be announced soon.
Additionally, the Company continues to build on its success in the public sector by fulfilling and expanding its contractual business with the Canadian and US governments. The Company also is looking forward to uplisting to the TSX main board and building solutions for the EV space, which is a new and exciting vertical for Datametrex.
About Datametrex
Datametrex AI Limited is a technology-focused company, using artificial intelligence (AI) to create progressive solutions for the cyber security, telehealth, and electric vehicle (EV) verticals. Datametrex’s mission is to provide tools that support companies in fulfilling their operational goals with predictive and preventive technologies.
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, Director
Email: [email protected]
Tel: 416-901-5611 x 204
Marshall Gunter- CEO
Email: [email protected]
Tel: 514-295-2300
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 its telehealth business will be successful. 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125670
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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