Business
Datametrex Announces Q2 Financial Results
Over $4.9 million in revenue $1.8 million earned in AI and big data solutions Nexalogy r...
About this update from Datametrex Ai Ltd.
[{"type":"text","content":"Datametrex Announces Q2 Financial ResultsOver $4.9 million in revenue $1.8 million earned in AI and big data solutionsNexalogy reports approximately $1 million in revenue from Government ContractsOver $3 million earned in healthcare revenue Toronto, Ontario--(Newsfile Corp. - August 29, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the \"Company\" or \"Datametrex'') is pleased to announce the second quarter (\"Q2 2023\") financial results for the Company. The Company has filed its financial statements and management discussion and analysis on SEDAR+ for the six months ended on June 2023 (\"Q2 2023\").Financial Highlights: The Company reported revenue of $4,912,584, which includes $1,844,054 earned from big data and Artificial Intelligence solutions, approximately $1 million in revenue from reaching certain milestones on its Government of Canada contract, and healthcare revenue of $3,068,530. At June 30, 2023, the Company had current assets of $9.3 million, including cash of $3.5 million. The following financial information from the financial results for the three and six months ending on June 2023, and Management Discussion & Analysis (\"MD&A\") are available for review on SEDAR+. Please refer to the Q2 2023 financial statements in its entirety, which is available under Datametrex's profile at www.sedarplus.ca. The following table summarizes revenue, net loss, EBITDA*, and adjusted EBITDA*.All figures are in Canadian dollars unless otherwise noted.June 30, 2023June 30, 2022Total Revenue $4,912,584$18,341,444Net Loss($4,324,418)$1,829,589Net Income/(loss) per share - basic (0.008)(0.002)Depreciation and amortization $1,736,442$1,255,173EBITDA*($2,537,763)($3,265,906)Adjusted EBITDA*($1,485,425)($3,265,906) Normal Course Issuer Bid (NCIB) Share Buyback ProgramThe Company has purchased a total of 34,198,000 common shares of the Company for an aggregate amount of $3,574,073.36 through the NCIB share buyback program. Q2 Highlights In the second quarter, the Company appointed Mr. Charles Park as the new Chief Operating Officer to further strengthen its management team and drive growth across its business units. The Company achieved a significant milestone by successfully completing its AnalyticsGPT beta program for its new GPT software. As beta testing wrapped up, preparations swiftly commenced for t...