Fintech
Datametrex Reports over $9.2M Revenue with over $961K Net Income in Q3
- $9.2 million in revenue earned during Q3 and over $27.5M revenue in nine months.
- Significant increase in AI and Tech revenue of over $3.78M in nine months, up 16% vs. $3.25M in the previous year.
- Significant increase in Q3 net income of over $961K, up 464% compared to the previous year.
Toronto, Ontario–(Newsfile Corp. – November 22, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to report its financial results for the third quarter. The Company has filed its financial statements (“FS“) on SEDAR and related management discussion and analysis (“MD&A“) for the quarterly results ending September 30, 2022 (“Q3 2022“).
Q3 and nine months 2022 Financial Highlights:
For the three months ended September 30, 2022 (Q3-2022), the Company reported revenue of $9,202,894, net income of $961,922 and EBITDA of $2,699,239. For the nine months ended September 30, 2022 (Q3-YTD), revenue was $27,544,338, net income of $2,791,511, and EBITDA of $5,965,145.
The Company continues to hold a strong cash and marketable securities position of approximately $13 million after deploying over $2 million for the Company’s Normal Course Issuer Bid. As of September 30, 2022, 1,780,500 Shares have been purchased for cancellation under the NCIB. The Company spent a total of $2,040,350.71. The Company holds over $53.8 million in total assets.
The following financial information from the financial results September 30, 2022, and Management Discussion & Analysis (“MD&A“) are available for review on SEDAR.
Please refer to the Q3 2022 filing in its entirety, which is available under Datametrex’ profile at www.sedar.com.
Financial highlights for three months, ended September 30, 2022 (“Q3”):
The following table summarizes revenue, net income, ETBITDA* and adjusted EBITDA*
All figures are in Canada dollars unless otherwise noted.
| September 30, 2022 |
September 30, 2021 |
% Of Change | |
| Total Revenue | $9,202,894 | $10,821,697 | -14% |
| Net Income/(Loss) | $961,922 | $170,294 | +464% |
| Net Income/(loss) per share – basic |
0.002 | 0.001 | +100% |
| EBITDA* | $2,699,239 | $1,420,179 | +90% |
| Adjusted EBITDA* | $2,699,239 | $1,420,179 | +90% |
Outlook
In the last few months, the Company has achieved great success with its NexaSMART Artificial Intelligence (“AI“) and machine learning (“ML“) technology, bringing in over $2.4 million in AI contracts from multiple Korean and Silicon Valley technology companies and over $100K in purchase orders for its Operating System Calibration Management and Monitoring System (“SysMind“).
The great return from the Company’s AI business is due to management’s land and expand strategy which has navigated Datametrex to execute multiple business deals, land contracts and expand business lines with its clientele. Additionally, the Company continues to work on the second phase of the $40 million AI project with the Canadian government to help aid in the defense of Canadian cyber security initiatives. Most recently, the company’s wholly-owned subsidiary Nexalogy Environics Inc. (“Nexalogy“), the powerhouse and core of the Company’s NexaSMART AI, announced it is working on an AI driven mental health detection tool which will focus on depression and anxiety detection.
With an abundance of developments in the Company’s core business in AI, the latest update includes a new President of Nexalogy to bring a more acute focus within the AI business and grow all operations to a new level field.
Medi-Call Inc., (“Medi-Call“), the Company’s wholly-owned telehealth subsidiary, has made progress in the last month announcing it has signed three (3) distribution agreements for its telehealth services with International Student agencies. This new partnership will help grow Medi-Call’s patient base and subscribers. Due to the current Canadian healthcare crisis that has been flooding the news for the last year, Medi-Call plans to focus on growing its volume of patients and subscribers and fill the gap for patients who are subjected to long wait times for services and unable to receive accessible healthcare.
Datametrex EV Solutions (“DM EVS“), the Company’s wholly-owned Electric Vehicle (“EV“) subsidiary announced back in October that it has commenced its roadside assistance and mobile charging vehicle in British Columbia for EV consumers and is currently servicing EV consumers on film and production sites. Currently, the operations team is working on developing EV charging stations around B.C. and will be available for consumers to use in the new year.
“Our third quarter reflects strong results in our cash position, improved net income and fantastic results from our operations in AI and healthcare. Nexalogy and our AI initiatives are expanding rapidly with ongoing contracts. With the recent news of our new Nexalogy President, Medi-Call contracts with International Student Agencies and the deployment of DM EVS, Datametrex is entering the new year with many exciting opportunities to take the Company to greater heights,” said Marshall Gunter, CEO of the Company.
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to provide tools and solutions 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, the 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.
To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Email: [email protected]
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Email: [email protected]
Tel: 514-295-2300
Neither 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. 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.
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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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