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  • Datametrex recorded revenue of C$12,378,02 in 2020 compared to revenue of $3,400,835 for FY 2019
  • $8,276,057 in Covid-19 Test kits revenue
  • The company has received $1.8 million from the exercise of share purchase warrants and options
  • Datametrex recorded a net loss of $5,006,276 for FY2020
  • Datametrex AI Limited is a technology-focused company
  • Datametrex AI Limited opened trading at $0.29 per share

Datametrex AI Limited (DM)  has filed its consolidated financial statements and related management analysis for the year 2020.

In 2020, the company recorded revenue of C$12,378,024, a 264 per cent increase from 2019, and significantly improved its cash balance, up 1,648 per cent from 2019.

Adjusted EBITDA also improved significantly ($862,494) in 2020 compared to ($2,126,155) in 2019. This Adjusted EBITDA reflects the company’s operations, not including non-cash items.

The company’s AI and Tech revenue also increased to $4,101,967 from $3,369,069.

“The company has made significant progress in strengthening its balance sheet and positioning Datametrex for incredible market growth anticipated by shifting health policy and regulation,” says Marshall Gunter, CEO of Datametrex.

“We have entered 2021 coming off a record year in revenue of $12,378,024 with most of the revenue in Q3 and Q4 related to new COVID business, providing the Company enough capital to invest and focus on increasing its revenue pipeline while continuing to promote the opportunities in both AI and the healthcare sector and leveraging the fantastic businesses that have been added to Datametrex over the last two quarters.”

Financial Highlights for the Fiscal Year ending December 31, 2020:

  • Revenue of $12,378,024 compared to revenue of $3,400,835 for FY 2019;
  • Cash balance of $1,971,987 compared to a cash balance of $119,675 for FY 2019;

All figures are in Canadian dollars unless otherwise noted:

FY 2020FY 2019% Change
Total revenues$12,378,024$3,400,835264%
COVID-19 Test kits revenue$8,276,057$0100%
AI and Technology revenue$4,101,967$3,369,06922%
Income/Loss before income taxes($4,403,976)($3,191,710)238%
Net Income/Loss($5,006,276)($2,783,063)80%
Income per share – basic(0.020)(0.012)66%

The following reconciles the net income EBITA and Adjusted EBITA (non IFRS):

FY 2020FY 2019
December 31, 2020December 31, 2019
Net loss($5,006,276)($2,783,063)
Add: interest and accretion$47,489$94,837
Add: income tax provisions (recovery)$602,300($277,750)
Add: depreciation & amortization$751,099$821,747
EDITDA (non IFRS)($3,605,388)($2,144,229)
Add: share based compensation$2,742,894$18,074
Adjusted EDITDA (non IFRS)($862,494)($2,126,155)
FY 2020FY 2019Dollar ChangePercent Change
Total Assets$9,998,329$7,908,436$2,089,89326%
Total Liabilities$6,751,972$5,002,316$1,749,65635%

Fiscal 2020 Highlights and Subsequent Events

  • The company’s revenue increased by 264 per cent in 2020 compared to 2019 bringing in over $12M in revenue.
  • Datametrex sold over 23,700 onsite tests for the film industry at locations in Montreal, Toronto and Vancouver for the months of October through December 2020.
  • The company started testing services in Q4 to 6 production companies in Toronto and 11 production companies in Vancouver, administering approximately 6,000 tests per week.
  • The company has received $1.8 million from the exercise of share purchase warrants and options.
  • Datametrex completed the second phase of a multi-phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security IDEaS program.
  • Datametrex renewed and expanded 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 (GBLC: CSE) owning approximately 25 per cent of Graph, which has a market cap of over $46 M and $10 M in cash.
  • The company closed its acquisition of 100 per cent of Concierge Medical Consultants Inc. in Q1, 2021.


Despite a significant market slowdown due to the pandemic, Datametrex continued to improve its core business revenue in 2020. Focusing its resources on expanding and improving its AI business in 2021, Datametrex expects to see significant growth in both its existing AI verticals and new verticals.

Datametrex 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 AI Limited opened trading at $0.29 per share.

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