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
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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