Business
Datametrex Reports $10.4m Net Earnings in Six Months
Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Datametrex AI Limited  (TSXV: DM...
About this update from Datametrex Ai Ltd.
[{"type":"text","content":"Datametrex Reports $10.4m Net Earnings in Six MonthsToronto, Ontario--(Newsfile Corp. - August 16, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the \"Company\" or \"Datametrex\") is pleased to report record financial results. In the second quarter the Company achieved the highest net income and revenue in it's history. The Company reported net earnings of $10,410,485 in the six months end 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. Datametrex has filed on SEDAR its financial statements (\"FS\") and related management discussion and analysis (\"MD&A\") for the six-month financial results ending June 30, 2021 (\"Q2 2021\"). All currency is in Canadian dollars unless otherwise stated.Q2 2021 Financial SummaryFinancial Highlights for six-month ended June 30, 2021 (Q2):Revenue of $29,494,191 for 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 significantly increased to $10,555,375 from $1,971,987 end of 2020.The following is financial information for the three-month financial results ending June 30, 2021, along with comparative results. Please refer to the Q2 2021 Filing in its entirety, which is available under Datametrex's profile at www.sedar.com.\"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,\" commented Marshall Gunter, CEO of Datametrex.Financial Highlights for three-month ended June 30, 2021 (Q2):Q2 2021Q2 2020% ChangeTotal 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% * Note: EBITDA ( non- IFRS measures) is calculated as Net Loss adjusted for 1. Income taxes, 2. Depreciation and amortization, and 3. Interest and accretion. Non-IFRS financial measures do not have standar...