TORONTO, ON – August 29, 2017 – Artificial Intelligence company, AnalytixInsight Inc. (the “Company” or “AnalytixInsight”) (TSX-VENTURE: ALY) today reported record financial results for the second quarter ended June 30, 2017.2017 Second Quarter Financial Highlights:
- The Company’s revenue for the quarter (excluding Marketwall) was the highest in the Company’s history at $967,946, which is more than triple the revenue during the same period in the previous year of $302,235, and 289% over first quarter revenues of $334,418.
- The Company’s revenue for the six months ended June 30, 2017 was $1,302,364 compared to $497,087 for the same period in the previous year.
- Profitability continued to improve, with losses significantly decreasing. Net Loss for the quarter reduced substantially to $(41,932) compared to $(426,589) for the same period in the previous year.
- Loss per share for Q2 2017 was $(0.00), compared to $(0.01) for Q2 2016.
- Marketwall’s revenue for the quarter was the highest in Marketwall’s history at $1,850,497, a six-fold increase when compared to $283,766 in the same period in the previous year. AnalytixInsight owns 49% of Marketwall which is considered an associated company as its financial results are not consolidated with the Company’s financial results. The Company continues to advance its strategy of spinning out Marketwall following the completion of Marketwall’s product integration within Intesa Sanpaolo’s mobile platform.
- Marketwall’s revenue for the six months ended June 30, 2017 was $2,628,389 compared to $579,231 for the same period in the previous year.
- Recently acquired Euclides Technologies Inc. ("Euclides") currently has an order backlog of approximately $3 million.
- The Company continues to develop its partnership with Euronext to provide its high quality financial research to Euronext, the leading pan-European exchange in the Eurozone.
Selected Financial Information
CapitalCube CapitalCube continued to average approximately 2 million user sessions per month through various distribution channels. CapitalCube has begun custom delivery and integration of its content under its licensing partnership with Euronext NV (“Euronext”). Under the terms of the partnership, the Company’s CapitalCube portal will deliver value added financial analysis and content, including key ratios and charts, on Euronext listed companies to Euronext’s website and mobile apps. Euronext will also market and sell CapitalCube’s professional subscription licenses to various brokers, financial institutions and listed corporations in Europe.
Marketwall Marketwall’s revenue for Q2 2017 was $1,850,497 compared to $283,766 in the same period in the previous year. Marketwall recorded strong revenues after reaching an invoicing milestone on its contract with Intesa Sanpaolo’s mobile banking division. AnalytixInsight owns 49% of Marketwall which is considered an associated company as its financial results are not consolidated with the Company’s financial results. The Company and Intesa Sanpaolo expect to spin out Marketwall following the completion of Marketwall’s product integration within Intesa Sanpaolo’s mobile platform. The completion of this integration is expected during the second half of 2017, and is expected to result in the migration of over eight million retail banking customers of Intesa Sanpaolo to Marketwall.
Euclides In Q1 2017, the Company completed the previously announced acquisition of certain assets of Euclides. Euclides is an expert Systems Integrator and consulting partner for field service management solutions and has touch points to over 100,000 field service personnel.
The order backlog continues to grow and currently stands at approximately $3 million, which is on track with expectations.
AnalytixInsight’s machine learning platform and artificial intelligence capabilities are well suited to serve today’s analytics and scheduling requirements within the Field Service Management (“FSM”) industry. The FSM industry is being shaped by trends such as the Internet-of-Things, which generates data, and workflow-analytics tools which can deliver predictive analytics, enhanced auto-scheduling, improved work order management and skills-based dispatching.
Management Commentary Prakash Hariharan, President & CEO, commented: "We are very pleased with the Company’s progress during the second quarter as artificial intelligence and machine learning continue to drive our growth. We are also very pleased to see new worldwide partners contracting with us for our CapitalCube content and are delighted to integrate Euclides’ workflow analytics solutions to our artificial intelligence platform."
CONTACT INFORMATION: Scott Urquhart VP Corporate Development (416) 522-3975 Scott.Urquhart@analytixinsight.com
ABOUT ANALYTIXINSIGHT INC. (www.analytixinsight.com) AnalytixInsight Inc.'s artificial intelligence platform transforms data into narratives. AnalytixInsight’s online portal CapitalCube (www.capitalcube.com) algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight holds a 49% interest in Marketwall, a mobile platform for banking and stock trading (www.marketwallcorporate.com). AnalytixInsight owns Euclides Technologies Inc. (www.euclidestech.com), a workflow analytics systems integrator.
Regulatory Statements This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company’s ability to integrate the assets of Euclides; the Company’s ability to apply its platform to different business verticals; the growth of the Company’s business operations; the licensing revenue stream to be received by the Company; the use of the Company’s content by various parties; Marketwall’s ability to integrate with Intesa Sanpaolo, the ability to spin-out Marketwall, the impact of the deconsolidation of Marketwall, the licensing partnership with Euronext and the use by certain parties of CapitalCube and Marketwall App. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.