Datametrex Reports First Quarter Results

TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to announce its financial results for Q1, ended March 31, 2020. 

Although certain projects and various sales negotiations have been postponed due to COVID-19 outbreaks, the Company was able to expand its businesses, and recorded increase in revenue for Q1 2020 by 62%, $809,402 compared to $498,565 in the previous year. Operating costs were reduced by 31% to $1,162,723 compared to $1,692,958 in the previous year. The net results  improved significantly with a decrease by 25%, ($721,761) compared to ($904,792) in the previous year. The Adjusted EBITDA also had a significant improvement with a decrease by 177%, ($257,303) compared to ($712,256). 

“In Q1 2020, we achieved multiple key milestones and made significant strides in strengthening our AI platform and offering, reducing operating costs, increasing sales, and focusing on our core business. This resulted in a substantial improvement to the bottom line,” says Marshall Gunter, CEO of the Company.

Highlights for Q1 2020

• The Company completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #coronavirus and secured a relationship with Carnegie Mellon University IDeaS. These projects assisted in getting Nexalogy in front of the Government Agencies for the opportunity in the United States.
• The Company continued the second phase of a multi-phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security IDEaS program.  
• The Company was chosen as preferred vendor partner by LOTTE Data Communication.

Financial Highlights

The following table summarizes revenue, net loss and EBITDA* and Adjusted EBITDA* for the three months ended March 31, 2020 and 2019.

	For the three months ended
	March 31, 2020		March 31, 2019		%
	$		$
REVENUE	809,402		498,565		62	%
NET LOSS	(721,761	)	(904,792	)	25	%
EBITDA	(528,303	)	(723,529	)	37	%
EBITDA per share	(0.002	)	(0.003	)	68	%
Adjusted EBTDA	(257,303	)	(712,256	)	177	%
Adjusted EBITDA per share	(0.001	)	(0.003	)	34	%

* Note: EBITDA (non-IFRS measures) is calculated as Net Loss ($721,761) adjusted for 1. Income taxes of ($16,207), 2. Depreciation and amortization of $194,899, and 3. Interest and accretion of $14,766. Adjusted EBITDA (non-IFRS measures) is calculated as EBITFA adjusted for share based compensation of 271,000.