Datametrex Reports 2018 Financial Results
April 30 2019 - 8:01PM
Datametrex AI Limited (the “
Company” or
“
Datametrex”) (
TSXV: DM, FSE:
D4G) announces its 2018 audited annual consolidated
financial statements, notes hereto, and management’s discussion and
analysis in respect of the annual consolidated financial
statements.
The revenue in 2018 was $2,230,296 compared to
$228,019 in the previous year, an increase of 878%. The net loss in
2018 was ($19,399,366) compared to ($5,319,339) in the previous
year, resulting in an increase of (265%). The Adjusted EBITDA was
($2,610,992) compared to ($3,244,101), thereby improving by
20%.
“We achieved key milestones in 2018, including;
the successful spin-out of Graph Blockchain Inc. (CSE: GBLC) in the
fourth quarter of 2018, restructuring Nexalogy, additional sales to
our Canadian Federal Government clients, achieving vendor status
with the United States Federal Government, generating revenues from
Asia with multi-national clients including LOTTE, initiating new
product development including our AI Agent and Fake News Filter
which will be commercial in 2019. I am proud of the work our team
accomplished in 2018, despite the challenging markets we were able
to stay focused on building our AI and Machine Learning division
and act swiftly to reduce additional financial exposure to the
crypto markets as it imploded around us. We now have the team in
place and product roadmap required to take advantage of the
technology platform we own,” says Andrew Ryu, CEO and Chairman of
the Company.
Financial
Highlights
The following table summarizes revenue, net
loss, EBITDA* and Adjusted EBITDA* for the year ended December 31,
2018 and 2017.
|
|
|
|
|
December 31, 2018 |
December 31, 2017 |
% Increase |
|
$ |
$ |
|
Revenue |
2,230,296 |
228,019 |
878% |
Net
loss |
(19,399,366) |
(5,319,339) |
-265% |
EBITDA¹ * |
(17,082,721) |
(5,239,222) |
-226% |
EBITDA per
share |
(0.086) |
(0.070) |
-23% |
Adjusted
EBITDA² * |
(2,610,992) |
(3,244,101) |
20% |
Adjusted EBITDA
per share |
(0.013) |
(0.044) |
70% |
|
|
|
|
|
|
|
|
¹ EBITDA (non-IFRS measures) is calculated as Net
Loss ($19,399,366) adjusted for 1. Income taxes of $648,983, 2.
Depreciation and amortization of $2,835,109, and 3. Interest and
accretion of $130,519. |
|
² Adjusted EBITDA (non-IFRS measures) is
calculated as EBITDA noted above adjusted for 1. Impairment of
$12,915,925 mainly relating to Ronin Blockchain Corp. and the
Cryptocurrency Mining segment, and 2. Share based compensation of
$1,555,804. |
|
Andrew Ryu, CEO and Chairman of the Company also
commented: “We will continue to pursue opportunities that create
shareholder value utilizing our Big Data, Artificial Intelligence,
and Blockchain platforms. We see tremendous potential in these
sectors and are highly optimistic in our ability to position the
Company for growth.”
The filings, along with additional information
regarding the Company, are available on SEDAR at www.sedar.com.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused
company with exposure to Artificial Intelligence and Machine
Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com) and Implementing Blockchain technology for
secure Data Transfers through its investee company, Graph
Blockchain (www.graphblockchain.com).
Additional information on Datametrex is
available at: www.datametrex.com
To stay informed about Datametrex,
please join our Investor Group on 8020
Connect http://bit.ly/2fPUNwF for all upcoming news
releases, articles comments and questions.
For further information, please
contact:
Jeffrey Stevens – President & COOPhone:
(647) 400-8494Email: jstevens@datametrex.com
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, impairment
charges, listing expense, other reverse take-over fees, acquisition
related costs, and share based compensation. “EBITDA”, “EBITDA per
share”, “Adjusted EBITDA”, and “Adjusted EBITDA per share” are
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.
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