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Datametrex Reports Record Quarter

TSX Venture Exchange
Symbol "DM"

TORONTO, Aug. 30, 2018 /CNW/ - Datametrex AI Limited (the "Company" or "Datametrex") (TSXV: DM, FSE: D4G) is pleased to announce its 2018 second quarter financial results. The Company has generated revenue of approximately $1.8M in the second quarter of 2018, an increase of 2,887% compared to the same period last year and 46% compared to the prior quarter.

"We are thrilled with our 2018 second quarter results, achieving record revenues. We were also able to operate at close to break even on an EBITDA basis. We look forward to the continued growth opportunities ahead as we capitalize on this momentum," says Andrew Ryu, CEO and Chairman of the Company.  

The filings, along with additional information regarding the Company, are available on SEDAR at www.sedar.com.

Financial Highlights

The following table reconciles income from operations to EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2018 and June 30, 2017:


Three months ended June 30,


Six months ended June 30,


2018

$


2017

$


2018

$


2017

$

 Revenue

1,809,829


60,597


3,053,208


100,517

 Net loss

(1,042,458)


(1,114,016)


(2,929,607)


(1,459,756)

 EBITDA*

(206,724)


(1,112,926)


(1,359,112)


(1,458,199)

 Adjusted EBITDA*

(131,469)


(329,848)


(142,592)


(675,121)

 Adjusted EBITDA per share*

(0.001)


(0.006)


(0.001)


(0.013)

 

Datametrex has achieved the following:

  • Recognized revenue in the amount of $3.1 million for the six-month period, of which $1.8 million was earned in the second quarter, compared with $0.1 million earned during the first six months of last year;
  • Achieved a net loss per share of $0.005 for the quarter, compared with $0.021 during the same period last year;
  • Net cash flow used in operating activities was $0.3 million for the quarter, compared with $1.3 million during the same period last year;
  • Increased its stake in Graph Blockchain Limited, an associate company of Datametrex, to 29.97% as of June 30, 2018.


About Datametrex AI Limited

Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big Data, collecting data from retail point of sales environments. Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain (www.graphblockchain.com). Industrial scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp (www.roninblockchain.com).

Additional information on Datametrex is available at: www.datametrex.com

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Neither the 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.

EBITDA and Adjusted EBITDA*

Management believes that EBITDA and Adjusted EBITDA are effective measures for analyzing the performance of the Company. The term "EBITDA" refers to earnings before deducting interest, taxes, depreciation and amortization. The Company calculates Adjusted EBITDA as earnings before deducting interest and accretion, taxes, depreciation and amortization, listing expense, other reverse take-over fees, acquisition related costs, and share based compensation. "EBITDA" and "Adjusted EBITDA" are both non-GAAP measures. The Company believes that Adjusted EBITDA is useful additional information to management, the Board and investors as it provides an indication of the operational results generated by its business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and amortization and it excludes items that could affect the comparability of our operational results and could potentially alter the trends analysis in business performance. Excluding these items does not necessarily imply they are non-recurring, infrequent or unusual. Adjusted EBITDA is also used by some investors and analysts for the purpose of valuing a company. Investors are cautioned that Adjusted EBITDA should not be construed as an alternative to operating earnings or net earnings determined in accordance with IFRS as an indicator of the Company's financial performance or as a measure of the Company's liquidity and cash flows. Adjusted EBITDA does not take into account the impact of working capital changes, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Except as required by law, the Company does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.

SOURCE Datametrex AI Limited


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