AnalytixInsight Reports 2019 Financial Results

TORONTO, April 23, 2020 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), is pleased to announce its financial results for the year ended December 31, 2019.

Highlights

• AnalytixInsight’s revenue for 2019 was $3.7 million which compares to revenue of $4.8 million for 2018, representing a decrease of 24%.
• AnalytixInsight’s net loss for 2019 was $1.7 million which compares to net loss of $2.3 million for 2018, representing an improvement of 27%.
• Marketwall’s revenue for 2019 was $6.2 million which compares to revenue of $3.8 million for 2018, representing an increase of 65%.
• Marketwall’s net income for 2019 was $1.5 million which compares to net income of $0.4 million for 2018, representing an increase of 259% (Marketwall is 49% owned by AnalytixInsight and not consolidated in AnalytixInsight’s financial results).
• The Company is well positioned to continue operations during the COVID-19 pandemic and believes its strategic initiatives – Artificial Intelligence, Workforce Optimization, and FinTech (via Marketwall) – have additional advantage as corporations increase their reliance on digital and data-driven solutions.

During the year, the Company expanded its CapitalCube AI-driven research distribution with Refinitiv to provide research coverage on approximately 3,000 dividend-paying companies in Canada, US, and UK. AI-driven content is becoming increasingly important as investors seek additional financial analysis during times of market turbulence and as financial businesses move to embrace AI and analytics as the content cornerstones for their client offerings.

AnalytixInsight’s 49%-owned FinTech subsidiary, Marketwall, is a developer of innovative online solutions. The Company believes the need for online banking and online trading platforms will increase as a result of consumer behavior shifts caused by the COVID-19 pandemic and expects Marketwall’s business will additionally benefit from this trend shift. Marketwall has applied to become an online financial broker in Europe and following completion of regulatory approvals, Marketwall expects to initiate a formal process to determine its appropriate valuation within a peer-based context of online brokerage firms with innovative technology and partnerships with world-leading banks. Marketwall has advised the Company that following such process, Marketwall will then raise suitable funds to enable its global growth expansion plans. Completion of this process will allow AnalytixInsight to move forward with a spinout to unlock the value of its Marketwall holdings in an IPO or other such strategies.