TORONTO, May 30, 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 quarter ended March 31, 2018.
Key Highlights:
- Revenue during the three months ended March 31, 2018 was $1,015,286 compared to revenue of $334,418 during the same period in the previous year.
- Working capital at March 31, 2018 is $1,825,426.
- Euronext, the leading pan-European exchange in the Eurozone with 1,300 listed issuers, launched the beta version of their “Market Insight” app with imbedded analytics supplied by AnalytixInsight.
- AnalytixInsight entered into an AI-driven research distribution agreement with Thomson Reuters, whereby Thomson Reuters will distribute content generated by AnalytixInsight’s machine-learning platform to customers on its financial desktop applications, Eikon and Thomson One.
- Recognized as one of the top 10 performing technology companies in the 2018 Venture 50TM.
Selected Annual Financial Information
| $ Canadian (unaudited) | Three months ended March 31, 2018 | Three months ended March 31, 2017 | ||||
| Revenue | $ | 1,015,286 | $ | 334,418 | ||
| Basic net income (loss) per share | $ | (0.01 | ) | $ | (0.01 | ) |
Management Commentary
Prakash Hariharan, President & CEO, commented: “We are making great progress with our existing strategic partners and we are working with more potential new partners. Both the financial and workforce management industries are quickly embracing machine-learning, and we are witnessing a shift in thinking as industry participants now look to incorporate machine-learning into their business solutions.”
During the first quarter, Euronext, the leading pan-European exchange in the Eurozone with 1,300 listed issuers, launched the beta version of their “Market Insight” app. The app contains imbedded analytics supplied by AnalytixInsight’s CapitalCube platform, which provides in-depth analysis of a company’s performance relative to its peers, including valuation, profitability, accounting, earnings quality and dividend strength. The app can be downloaded at: www.euronext.com/en/market-data/euronext-market-insight.
The Company completed the transition to Thomson Reuters as a supplier of financial data during the first quarter of 2018. The Company subsequently announced an agreement with Thomson Reuters for an AI-driven research distribution agreement whereby Thomson Reuters will distribute financial research reports created by AnalytixInsight’s CapitalCube platform to customers on its financial desktop applications Eikon and Thomson One. This distribution agreement allows Thomson Reuters to offer unique AI-based financial research and increased content coverage of publicly traded issuers. The distribution of AnalytixInsight’s financial research reports by Thomson Reuters is expected to be implemented in phases, beginning in the third and fourth quarter of 2018.
The Company was named as one of the top 10 performing technology companies in the 2018 Venture 50™ during the first quarter, a recognition of top performers on the TSX Venture Exchange during 2017.
Wholly-owned workforce management solutions provider Euclides Technologies Inc. continued to win additional customer contracts during the first quarter.
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, AnalytixInsight and Intesa Sanpaolo expect to jointly spin out Marketwall.
Marketwall Selected Annual Financial Information
| Marketwall (Associated investment of AnalytixInsight) $ Canadian (unaudited) | Three months ended March 31, 2018 | Three months ended March 31, 2017 | ||
| Revenue | $ | 852,641 | $ | 777,892 |
| Net income (loss) | $ | 81,920 | $ | 270,169 |
Market Maintenance Service Provider
The Company has retained Independent Trading Group Inc. (“ITG”) to provide market maintenance services to the Company in compliance with regulatory guidelines. ITG will trade shares of the Company on the TSX Venture Exchange for the purposes of maintaining a reasonable market and improving the liquidity of the Company’s common shares. The Company will pay ITG $3,500 per month for their services. The agreement with ITG may be terminated at any time by the Company or ITG following an initial three-month term. There are no performance factors contained in the agreement and ITG will not receive any shares or options as compensation for the services it will render. The Company and ITG are unrelated and unaffiliated entities but ITG and/or its clients may have an interest, directly or indirectly, in the securities of the Company. The Company’s previous agreement with Mackie Research Capital Corporation to provide market maintenance services has been terminated.
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 50TM 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 impact of the distribution agreement with Thomson Reuters; 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