- Datametrex AI Limited (DM) reports record net earnings for the first quarter of 2022
- The company’s success is attributed mainly to significant growth in the company’s core artificial intelligence technology business
- The company reported net earnings of over $1.35 million and adjusted EBITDA of over $3.16 million
- Datametrex improved its cash balance from $4 million to over $15.7 million, up 240 per cent from March 31, 2021
- Datametrex is a technology-focused company, using artificial intelligence to create solutions for the cyber security, telehealth, and electric vehicle verticals
- Datametrex AI Limited was down 3.333 per cent, trading at $0.145 at 9:42 AM ET
Datametrex AI Limited (DM) earned over $1.3M on revenues of over $10M in the first quarter of 2022.
The company’s financial performance resulted from significant growth in its core artificial intelligence 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 (earnings before interest, taxes, depreciation, and amortization) of around $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 per cent 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,” stated Marshall Gunter, CEO of the company.
Despite a cooling market, the company’s financial performance has been steady in the first quarter, with a significant increase in revenue from its AI technology business.
The company continues to focus on building out the telehealth vertical and expects Medi-Call to generate revenue by Q3. Datametrex plans to introduce the Medi-Call app to the public with the pending release on the app store, which will be announced soon.
Datametrex AI Limited is a technology-focused company, using artificial intelligence (AI) to create solutions for the cyber security, telehealth, and electric vehicle (EV) verticals.
Datametrex AI Limited was down 3.333 per cent, trading at $0.145 at 9:42 AM ET.
