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  • Record Q1 revenue of $19.04 M, up 2,253 per cent
  • Record adjusted EBITDA of $10.68 million, up 1,548 per cent
  • Net earnings of $9,560,351, up 1,425 per cent
  • Datametrex AI Limited is a technology-focused company
  • Datametrex AI Limited is down 1.67 per cent, trading at C$0.295 per share at 10 am ET

Datametrex AI Limited (DM) is pleased to report the record achievement in Q1 FY2021.

The company reported record revenue in the first quarter, attributed to growth across its COVID-19 sales and its related services with the film and production industry and uptake in its health technology business.

The company reported revenue of $19,045,888 and net earnings of $9,560,351. Adjusted EBITDA also improved significantly to $10,684,254 in Q1 2021. The adjusted EBITDA reflects the company’s operations, not including non-cash items. Datametrex also improved its cash balance by 17,044 per cent from Q1 2020.

“The Company’s first-quarter results reflect another record period of strong execution as we continue to build an integrated health technology company,” commented Marshall Gunter, CEO of Datametrex.

“We have entered 2021 coming off a record 2020 year in revenue and this trend will only continue to improve quarter over quarter as we focus on increasing our revenue channel with strategic funding of our sales and operations teams to drive business. Additionally, any future acquisitions in the pipeline will accelerate the development of our health technology business steering expansion efforts that will help accelerate our ability to continue to increase our revenue,” said Andrew Ryu, Chairman of the company.

Financial Highlights for three-month financial results ended March 31, 2021 (Q1):

  • Revenue of $19,045,888 for Q1 compared to revenue of $809,402.
  • Net earnings of $9,560,351 compared to ($721,761).
  • EBITDA of $10,684,254 compared to ($737,698).
  • Cash balance of $4,619,908 compared to a cash balance of $26,948.

All figures are in Canadian dollars unless otherwise noted:

Q1 2021Q1 2020% Change
Total revenues$19,045,888$809,4022,253%
COVID-19 Test kits revenue$18,561,296$0100%
AI and Technology and Other revenue$484,592$809,402-40%
Income/Loss before income taxes$10,482,954(737,968)1,521%
Net Income/Loss$9,560,351(721,761)1,425%
Income per share – basic$0.03(0.003)1,100%

The following reconciles the net income, EBITDA and Adjusted EBITDA (non-IFRS):

Q1 2021Q1 2020
March 31, 2021March 31, 2020
Net profit$9,560,351($721,761)
Add: interest and accretion$10,936$14,766
Add: income tax provisions (recovery)$922,603($16,207)
Add: depreciation & amortization$190,364$194,899
EBITDA (non IFRS)$10,684,254($528,303)
Add: share based compensation$3,268,404$271,000
Adjusted EBITDA (non IFRS)$13,952,658($257,303)
Q1 2021Q1 2020Dollar ChangePercent Change
Total Assets$25,026,759$9,998,329$15,028,430150%
Total Liabilities$6,467,940$6,053,667$414,2737%

The following presents Book value per share (BVPS). Please refer to the note at the end of this news release concerning non-IFRS financial measures.

Q1 2021Q1 2020
Equity Attributable to DM Shareholders (book value)$17,863,877$2,473,792
Total common shares outstanding at period end292,769,034233,701,561

Q1 Highlights and Subsequent Events

  • Revenue increased by 2,253% in Q1 2021 compared to Q1 2020 bringing in over $19M in revenue.
  • Datametrex closed its acquisition of Concierge Medical Consultants Inc.’s issued and outstanding securities.
  • Datametrex entered into an LOI to acquire 100% of the issued and outstanding share capital of a privately held telemedicine company.
  • Datametrex’s common shares began trading on the OTCQB Venture Market
  • Health Canada approved the COVID19 AG Rapid test kit, an antigen point-of-care rapid test device under the Interim Order.
  • The company renewed and extended its current sales agreements on January 15, 2021, with LOTTE Global Logistics, LOTTE Duty-Free Shops, and LOTTE Home Shopping, LOTTE Super, collectively LOTTE, for technology services and maintenance.
  • Datametrex remains a significant shareholder of Graph Blockchain (CSE: GBLC)
  • The company has opened in partnership with ScreenPro Security Inc. (CSE: SCRN) a COVID-19 testing clinic in Vancouver, British Columbia located in the Coal Harbor.
  • Datametrex implemented a new COVID-19 testing program for all the Company employees, consultants, technicians, nurses, and lab partner employees.


Despite a significant market slowdown due to the pandemic, Datametrex continued to improve its businesses in Q1. The company expects to see significant growth in both its existing cybersecurity AI verticals and new health technology verticals that Datametrex is exploring.

The company sees a significant upside as the COVID-19 pandemic shows signs that point to more healthcare being administered at home.

Given the significant surge in the need for additional healthcare resources, establishing alternative healthcare options becomes critical. Datametrex understands that non-acute healthcare can mitigate exposing patients and their families to COVID-19. The company is exploring deploying a variety of audio and video technology powered by its battle-tested AI technology to expand telemedicine services.

Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy. Datametrex’s mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies.

Datametrex AI Limited is down 1.67 per cent, trading at C$0.295 per share at 10 am ET.

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