Business
Datametrex Reports Record Financial Results
Toronto, Ontario--(Newsfile Corp. - November 29, 2021) - Datametrex AI Limited  (TSXV: ...
About this update from Datametrex Ai Ltd.
[{"type":"text","content":"Datametrex Reports Record Financial ResultsToronto, Ontario--(Newsfile Corp. - November 29, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the \"Company\" or \"Datametrex\") is pleased to report the record achievement in the history of the Company. Datametrex has filed on SEDAR its financial statements (\"FS\") and related management discussion and analysis (\"MD&A\") for the nine month financial results ending September 30, 2021 (\"Q3 2021\"). All currency is in Canadian dollars, unless otherwise stated.The following is selected financial information for the three-month financial results ending September 30, 2021, along with comparative results. Please refer to the Q3 2021 Filing in its entirety, which is available under Datametrex's profile at www.sedar.com.Q3 2021 Financial SummaryThe Company's financial performance immensely improved in the third quarter compared to Q3 2020, and was attributed by growth across its COVID-19 sales and its related services with the film and production industry and uptake in its health technology business.The Company reported nine months gross revenue of $40,315,888 compared to $7,626,121, gross profit of $19,309,184 compared to $2,344,489, EBITDA of $13,670,390 compared to ($1,443,617), Adjusted EBITDA of $16,940,830 compared to $8,630, and net earnings of $10,580,779 compared to ($2,057,779) in Q3 2020. The Adjusted EBITDA reflects the Company's operations, excluding non-cash items.\"We are pleased with the financial results we have delivered in nine months of 2021 and remain optimistic in our outlook with a calculated progress in the current operating environment as we move through the remainder of 2021. We continue to expect a profitability upturn and notable free cash flow. We also continue working on winning the $40M contract, and it is our belief that we should be able to share the good news in the near future,\" commented Marshall Gunter, CEO of Datametrex.Financial Highlights for financial results ended September 30, 2021 (Q3):Q3 2021 (9 months)Q3 2020 (9 months)% of differenceQ3 2021 (3 months)Q3 2020 (3 months)% of differenceRevenue$40,315,888$7,626,121429%$10,821,697$4,862,325123%Gross Profit$19,309,184$2,344,489724%$3,021,838$1,160,482160%Net Earnings$10,580,779($2,041,592)618%$170,294($695,803)124%EBITDA$13,670,390($1,490,579)1,017%$1,420,179...