$30,488,939 million in revenue
Increase in AI and Technology revenue, up 13% YoY
21,594,000 shares were purchased back by the Company
Toronto, Canada, May 1, 2023 – Datametrex AI Limited (the "Company" or "Datametrex'') (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) is pleased to announce the Company’s financial results for the year ended December 31, 2022. The Company has filed its financial statements (“FS”) and management discussion and analysis (“MD&A”) on SEDAR for the year ending on December 31, 2022 (“Q4 2022”).
The Company reported revenue of $30,488,939 million, which includes an increased revenue in AI and Technology of $4,578,717, an increase of 13% compared to the previous year of $4,051,805 in 2021, and EBITDA of ($13,459,916) and adjusted EBITDA of ($1,653,266).
After expending funds to acquire Imagine Health Centres and exercising the Normal Course Issuer Bid (NCIB) buyback, the Company still retains a substantial cash position of more than $8 million, alongside total assets worth $35,999,997.
The following financial information from the financial results for the year ending on December 31, 2022, and Management Discussion & Analysis (“MD&A”) are available for review on SEDAR.
Please refer to the Q4 2022 filing in its entirety, which is available under Datametrex’s profile at www.sedar.com.
As part of the Company’s growth strategy, management made a strategic decision to reinvest the profits from the acquisition of Imagine Health Centres. This acquisition and the Company exercising its share buyback program have contributed to a decrease in cash. The Company believes that the acquisition of Imagine Health Centres will enhance its position in the market and drive future growth and profits.
The Company notes that the recent loss reported in the Profit and Loss report is not a result of operations, but rather attributed to the expenses related to the acquisition, a decrease in the share price of the invested companies, and from non-cash expenses such as amortization, depreciation, and impairment of intangible assets.
Despite the end of the COVID-19 pandemic, which fueled significant profits for the Company, management remains committed to its long-term strategy of prioritizing its core AI technology and integrating it to its healthcare businesses to drive sustained growth and profitability. The Company remains committed to strengthening its position in these companies as well as mitigating any potential financial impact.
The following table summarizes revenue, net income, EBITDA*, and adjusted EBITDA*
All figures are in Canadian dollars unless otherwise noted.
Summary of NCIB Share Buyback Program
As of December 31, 2022, the Company purchased 21,594,000 shares in 2022 for $2,368,397 through the NCIB share buyback program.
Recent Company Highlights
In the past, the Company incorporated COVID-19 testing into its portfolio due to the pandemic and generated significant business, however, the severity of the pandemic has subsided (source: https://www.webmd.com/covid/news/20230318/who-leader-expects-end-of-covid-pandemic-in-2023), as such all COVID operations have come to an end, including all consolidations of operations and personnel as of April 10th, 2023.
Nexalogy Environics Inc. (“Nexalogy”) and AnalyticsGPT
The Company received contracts worth approximately $1.2 million from its existing conglomerate clients for its advanced technology solutions, which is attributed to the management's successful implementation of its land-and-expand strategy. This approach has enabled the Company to secure multiple business deals, land contracts, and expand its business lines with its esteemed clientele. The Company also successfully secured its intellectual property by obtaining two (2) technology patents for its secure data encryption solutions.
Nexalogy launched a new product, AnalyticsGPT, which combines its powerhouse software, NexaSMART with GPT technology, already in use by large corporations and governments which diversifies Nexalogy into new markets, such as small and medium enterprises (SMEs).
AnalyticsGPT successfully launched a beta program for its new GPT software. The program offers small to medium enterprises (SMEs) the opportunity to sign up for exclusive access to Nexalogy’s revolutionary Analytics GPT software. The Company will continue to work with select partners to further expand and fine-tune the software.
AnalyticsGPT was previewed earlier in the year which can be seen here: https://www.youtube.com/watch?v=h0IOTHGUx-E
Additionally, Nexalogy continues to make significant strides in its partnership with the Canadian government and is pleased to announce it has completed the second phase of the $40 million AI project aimed at aiding Canadian cyber security initiatives. This project is a testament to the Company’s commitment to providing innovative and effective solutions to address pressing cybersecurity challenges.
Medi-Call Inc. (“Medi-Call”)
This past year, Medi-Call launched its mobile telehealth application for iOS and Android devices and expanded to three provinces, providing its telehealth services in British Columbia and Alberta, while soft launching in Ontario.
The expansion has led to a substantial increase in new Medi-Call subscribers due to an influx of international foreign students using the platform’s telehealth services. The latest figures show that the Company's innovative healthcare platform has now garnered a total of 389 subscribers, representing a 38% increase from last month's report of 281 subscribers.
The Company announced 3 distribution agreements last November with international student agencies and has completed the first distribution agreement, which has led to a surge in Medi-Call subscribers. The Company plans to commence services with the additional two agencies by Q3 and expects to see a boost in users.
Imagine Health Centres (“Imagine Health”)
Since the last quarter, the Company has expanded into the healthcare industry with its acquisition of Imagine Health Centres, a fully operational and turnkey healthcare business with two clinics currently operating in Calgary and Edmonton offering an abundance of multidisciplinary healthcare services staffed with skilled physicians, pharmacists, and other allied healthcare professionals.
Datametrex Electric Vehicle Solutions (“DMEVS”)
DM EVS successfully launched its highly anticipated EV Mobile Pilot Event. The event accumulated an overwhelming response, with 60 enthusiastic EV drivers eagerly signing up to participate in the trial of the Company's innovative mobile EV chargers. In response to the high demand, DM EVS has extended the event to accommodate all participants, enabling them to experience the service first-hand.
The event has generated significant awareness and exposure for DM EVS among EV drivers in the Vancouver area, showcasing the Company's commitment to providing cutting-edge solutions for the EV industry. The event has also provided the Company with valuable feedback and insights from users on its platform, which will enable DM EVS to fine-tune its offering further.
Based on the positive feedback and insights gathered during the event, DM EVS is proud to announce the official launch of its mobile EV charging service in May which is a significant step forward in the Company's efforts to promote sustainable EV charging solutions.
Nexalogy Environics Inc. (“Nexalogy”)
AnalyticsGPT continues to work with select partners to further expand and fine tune the software. The team will be inviting more partners to come aboard as time permits.
This summer, as AnalyticsGPT is entering its final testing phases, the Company will begin converting customers with price plans scheduled to be released this summer.
To further AnalyticsGPT’s global reach, the management team will be attending several international AI expos this spring to showcase the software's capabilities. AnalyticsGPT has garnered global interest and will be attending AI EXPO Korea in early May with B2B meetings lined up with leading companies in the cybersecurity, data analytics, marketing, and PR space for potential business development. These events will provide an opportunity to demonstrate how AnalyticsGPT can benefit businesses worldwide, and the Company is thrilled to showcase its product to a global audience.
The official launch of AnalyticsGPT is planned for this fall. The Company plans to expand its software to bring in more customers with new in-depth demos and videos as various aspects of its product become declassified.
With AnalyticsGPT, Nexalogy is well-positioned to provide cutting-edge solutions to clients in a variety of industries, further enhancing its reputation as a leading provider of advanced analytics software.
Datametrex Healthcare Division Spinoff
The Company is thrilled to announce that it is planning on spinning off its healthcare division, consisting of Medi-Call and Imagine Health Centres, as its own independent entity. This strategic move will create a powerful healthcare entity, consisting of a hybrid model of brick-and-mortar clinics and virtual services, with the goal of being able to offer an integrated healthcare solution under one roof.
The spinoff will result in a boost in the Company’s balance sheet post-endemic as it acquires shares of the new entity. Management plans to launch this development within the next 12 months, delivering enhanced value to stakeholders and customers alike.
Medi-Call Inc. (“Medi-Call”)
Medi-Call’s primary focus remains on British Columbia and servicing international students. The Company is set to expand the scope of its marketing activities and establish more partnerships with international language agencies.
Additionally, Medi-Call is working on AI-powered features to enhance the telehealth platform experience for patients and physicians which will begin rollout this Q3.
Imagine Health Centres (“Imagine Health”)
Imagine Health is currently in the final stages of opening a third clinic in Vancouver, while management reviews the possibility of opening a fourth clinic in Ontario.
To further solidify its position as a leading provider of innovative healthcare solutions, the Company will be incorporating a Wellness Centre into its two (2) existing clinics which further expands services that offer physiotherapy, IV Vitamin Therapy treatment, acupuncture, and much more.
Datametrex Electric Vehicle Solutions (“DMEVS”)
DM EVS recently launched a second pilot event to install and operate EV charging stations for Airbnb hosts and Hotel & Inn owners until mid-May. The initiative is part of the Company's goal to expand its operations across a diversified group of properties going into Q3, providing EV charging solutions to a wider audience. The success of the pilot event will allow DM EVS to explore new opportunities in the hospitality sector. In addition, the Company is currently in discussions with three large hotels about installing and operating EV chargers on-site.
DM EVS plans to launch an aggressive charging station installation project in May for hospitals and street malls, expanding its presence in public spaces and providing greater accessibility to EV drivers. This project will further demonstrate the Company's commitment to promoting sustainable transportation and reducing carbon emissions. The Company looks forward to expanding its footprint and making a meaningful contribution to a cleaner, greener future.
“We take pride in being at the forefront of leading industries, as we strive to consistently deliver value and growth to Datametrex. Our focus on innovation, quality, and customer satisfaction has been the driving force behind our progress in a highly competitive market. As we look ahead, our determination to deliver exceptional value to our customers and shareholders remains unwavering, as we continue to drive sustainable growth and success in the next quarter and beyond”, said Marshall Gunter, CEO of the Company.
Datametrex AI Limited is a technology-focused Company with exposure to artificial intelligence, GPT technology, machine learning, and telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to develop innovative tools and solutions that facilitate the adoption of new standards of protocols using artificial intelligence and health diagnostics. Leveraging these technologies enables companies to proactively address issues related to supply chain management and enhance their overall operational efficiency with predictive and preventive technologies. In addition to the Company’s existing portfolio of technologies, the Company recently ventured into the electric vehicle (EV) market, reflecting its commitment to sustainability and clean energy.
Datametrex prides itself on its forward-thinking approach and the ability to develop progressive solutions that address the most pressing challenges facing businesses today. Datametrex is committed to supporting clients in achieving their goals and helping them stay ahead of the curve in an ever-changing business landscape.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
To learn more about how our AI is used in Cyber Security, Telehealth, and EV, please visit https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.