- Datametrex AI Limited (DM) has reported its financial results for the third quarter
- $9.2 million in revenue earned during Q3 and over $27.5M in revenue in nine months
- Increased AI and Tech revenue of over $3.78M in nine months, up 16 per cent vs. the previous year
- Increased Q3 net income of over $961K, up 464 per cent compared to the previous year
- During the nine months ended September 30, 2022, Datametrex repurchased 17,807,500 of its common shares for $2,040,350
- Marshall Gunter, CEO of Datametrex, sat down with Sabrina Cuthbert to discuss the results
- Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and telehealth
- Datametrex AI Limited (DM) opened trading at C$0.08
Datametrex AI Limited (DM) has reported its financial results for the third quarter.
For the three months ended September 30, 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, revenue was $27,544,338, net income of $2,791,511, and EBITDA of $5,965,145.
Datametrex continues to hold strong cash and marketable securities position of approximately $13 million after deploying over $2 million for the company’s NCIB. As of September 30, 2022, 17,807,500 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.
Financial highlights for three months, ended September 30, 2022 (Q3):
The following table summarizes revenue, net income, EBITDA and Adjusted EBITDA
|% Of Change|
per share – basic
In the last few months, Datametrex has achieved success with its NexaSMART Artificial Intelligence and machine learning 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.
The strong return from the company’s AI business is due to management’s land and expand strategy, which has allowed Datametrex to execute multiple business deals, and land contracts and expand business lines with its clientele. Datametrex continues to work on the second phase of the $40 million AI project with the Canadian government to help aid in the defence of Canadian cyber security initiatives.
Most recently, the company’s wholly-owned subsidiary Nexalogy Environics Inc. (Nexalogy), the 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.
Medi-Call Inc., the company’s wholly-owned telehealth subsidiary, has made progress in the last month, announcing it has signed three distribution agreements for its telehealth services with International Student agencies. This new partnership will help grow Medi-Call’s patient base and subscribers. 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 has commenced its roadside assistance and mobile charging vehicle in British Columbia for EV consumers. It is currently servicing EV consumers on film and production sites.
Marshall Gunter, CEO of Datametrex, sat down with Sabrina Cuthbert to discuss the results.
“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.”
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and telehealth.
Datametrex AI Limited (DM) opened trading at C$0.08.