Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Datametrex AI achieved the highest net income and revenue in its history in Q2
  • Datametrex reported net earnings of $10,410,485 in the six months ended June 30
  • The company continues focusing its resources on expanding and improving its AI business in 2021
  • DataMetrex AI Ltd is a Canada-based information technology company
  • Datametrex AI Limited (DM) is up 5.13 per cent, trading at C$0.205 per share at 3:35 pm ET

In the second quarter, Datametrex AI (DM) achieved the highest net income and revenue in its history.

Datametrex reported net earnings of $10,410,485 in the six months ended June 30, 2021 on revenue of $29,494,191. The company finished the second quarter with cash of $10,555,375 and marketable securities of $2,486,962.

Q2 2021 financial summary

Financial highlights for the six-month period ended June 30, 2021 compared to June 30, 2020:

  • Revenue of $29,494,191 compared to revenue of $2,763,796
  • Net earnings of $10,410,485 compared to ($1,590,239)
  • EBITDA of $12,250,211 compared to ($1,197,679)
  • Cash balance increased to $10,555,375 from $1,971,987 in 2020

Marshall Gunter, CEO of Datametrex commented on the company’s strong results.

“We are very pleased with the achievements and the financial results we have delivered over the first half of 2021, and remain optimistic in our outlook as we move through the remainder of 2021. We also continue to expect greater profitability and notable cash flow driven by COVID-19 testing and the integration of Medi-Call, a multi-year strategic initiative undertaken as part of our post-pandemic world.” 

Financial highlights for three months ended June 30, 2021 (Q2):

Q2 2021Q2 2020% Change
Total revenues$10,448,303$1,954,394434.6%
Income/Loss before income taxes$1,034,941($868,478)219.2%
Net Income/Loss$850,134($868,478)197.9%
Income per share – basic$0.003($0.003)200%
EBITDA$1,565,957($669,376)333.9%

Q2 highlights

  • In June, the company completed the acquisition of Medi-Call Inc. Medi-Call is now a wholly-owned subsidiary of Datametrex. 
  • The company announced new sales revenue from Incheon International Airport Corporation and the Shinhan Financial Group, located in Seoul, South Korea.
  • The company’s common shares began trading on the OTCQB under the stock symbol DTMXF.

Despite a significant market slowdown due to the pandemic, Datametrex continued to improve its balance sheet in Q2. The company continues focusing its resources on expanding and improving its AI business in 2021.

Given the 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 technologies to expand its telemedicine services.

“I am extremely proud of our whole team. We continue to experience growth as a result of our growing portfolio of companies. The future prospects of Datametrex continue to improve with our swelling customer base. We look forward to executing our business plan for the remainder of the fiscal year,” commented Andrew Ryu, Chairman of Datametrex.

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 (DM) is up 5.13 per cent, trading at C$0.205 per share at 3:35 pm ET.

More From The Market Herald

" Hemostemix (TSXV:HEM) announces non-brokered private placement

Hemostemix (HEM) has announced a non-brokered private placement of up to 15 million units.
WELL Health - Chairman & CEO Hamed Shahbazi

" WELL Health (TSX:WELL) closes $34.5M public offering

WELL Health Technologies Corp. (WELL) has completed a bought deal public offering for proceeds of $34.5 million.

" Simply Better Brands (TSXV:SBBC) enters the weight loss category

Simply Better Brands (SBBC) has launched its entry into the weight loss category with a PureKana Keto Gummy.

" Cardiol Therapeutics (TSX:CRDL) appoints new directors

Cardiol Therapeutics (CRDL) has appointed Teri Loxam and Chris Waddick to its Board of Directors, effective immediately.