TORONTO, April 16, 2018 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight,” or the “Company”) (TSX-V:ALY) (OTCQB:ATIXF) is pleased to announce financial results for the fourth quarter and full year ended December 31, 2017. The fiscal year results are the strongest in the Company’s history.
Key Highlights:
- Revenue for 2017 was $4,516,759 compared to revenue of $1,075,349 for 2016.
- Revenue for the fourth quarter was $1,498,276 compared to $297,156 in the same period in the previous year.
- Working capital at December 31, 2017 is $1,903,865.
- Contracted order backlog stands at approximately $4.5 million.
- Recognized as one of the top 10 performing technology companies in the 2018 Venture 50™.
Selected Annual Financial Information
| 2017 | 2016 | 2015 | ||||
| Revenue | $4,516,759 | $1,075,349 | $454,823 | |||
| Basic net income (loss) per share | $(0.01) | $(0.03) | $(0.07) | |||
| Total assets | $5,751,180 | $1,822,605 | $1,845,616 | |||
| Total current liabilities | $528,096 | $906,314 | $1,387,757 | |||
Management Commentary
Prakash Hariharan, President & CEO, commented: “2017 was a transformational year for the Company, and we are very pleased with our developments. We continued to strengthen our machine-learning platform and we added customers and content distribution partners for our financial analytics offerings at CapitalCube. We also solidified a second industry application of our machine-learning platform with the acquisition of Euclides Technologies and are now building workflow analytics solutions for this industry. We believe the Company is very well positioned to benefit from the rapidly evolving industry movements to embrace artificial intelligence and machine-learning solutions within business.”
Marketwall
AnalytixInsight owns 49% of Marketwall which is considered an associated company as its financial results are not consolidated in AnalytixInsight’s financial results. Upon the successful completion of Marketwall’s product integration with Intesa Sanpaolo’s mobile platform and the achievement of other milestones, the Company and Intesa Sanpaolo expect to jointly spin out Marketwall.
Marketwall Selected Annual Financial Information
| Marketwall (Associated investment of AnalytixInsight) | 2017 | 2016 | ||
| Revenue | $4,213,176 | $1,704,080 | ||
| Net income (loss) | $1,148,495 | $(404,894) | ||
AnalytixInsight was named as one of the top 10 performing technology companies in the 2018 Venture 50™, a recognition of top performers on the TSX Venture Exchange during 2017.
The Company also announces that the letter of intent with First Global Data Ltd. (please see July 5, 2017 press release) has expired.
CONTACT INFORMATION:
Scott Urquhart
VP Corporate Development
Scott.Urquhart@AnalytixInsight.com
Tel: (416) 522-3975
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight’s (AnalytixInsight.com) artificial intelligence platform transforms data into knowledge. AnalytixInsight’s online portal CapitalCube (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 (marketwallcorporate.com). AnalytixInsight owns Euclides Technologies Inc. (euclidestech.com), a workflow analytics systems integrator.
AnalytixInsight is a 2018 Venture 50™ company (tsx.com/venture50).
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 growth of the Company’s business operations; Marketwall’s ability to complete and roll-out the mobile-banking platform for Intesa Sanpaolo; the Company’s ability to spin out Marketwall, the use of the Company’s content by various parties; the performance of Euclides and the Company’s ability to operate in the work-flow analytics space; the use by certain parties of CapitalCube and Marketwall App and the Company’s future performance. 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 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.