TORONTO, May 30, 2019 (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, 2019.
AnalytixInsight Highlights:
- Revenue for the three months ended March 31, 2019 was $947,082 compared to revenue of $1,015,286 during the same period in the previous year.
- At March 31, 2019, current assets were $1,519,807 and working capital was $933,338.
- Advanced AI-driven research distribution agreement with Refinitiv, the former Financial & Risk business of Thomson Reuters, which is now distributing CapitalCube’s research reports on pre-revenue companies.
- Developed a Robo-Advisor on the CapitalCube platform, and nearing completion of a new graphical user interface for CapitalCube which contains several updated improvements and ease-of-use features.
Marketwall Highlights:
- Marketwall, a developer of FinTech solutions, is an associated company 49%-owned by AnalytixInsight.
- Marketwall revenue for the three months ended March 31, 2019 was $1,443,625, one of the strongest quarters in its history and an increase of 69% compared to $852,641 during the same period in the previous year. Marketwall’s revenues are not included in AnalytixInsight’s consolidated revenue.
- Marketwall net income for the period was $504,827 compared to $81,920 during the same period in the previous year.
- Marketwall shareholder Intesa Sanpaolo plans to accelerate its digital transformation as Italy’s first digital bank and plans to invest approximately 2.8 billion euros over the next three years to increase the bank’s digitized business to 70%.
- AnalytixInsight is evaluating initiatives that will allow the Company to recognize the value of its Marketwall investment and expects this strategy to be finalized during H1 2019.
Management Commentary
Prakash Hariharan, President & CEO of AnalytixInsight, commented: “Our fiscal Q1 results were on track with our plans. We continue to advance our work with Refinitiv, one of the world’s largest providers of financial markets data, who is now distributing CapitalCube content to their clients. Marketwall recorded one of its strongest quarters following a successful stock-trading app launch by Intesa Sanpaolo, a leading bank in Europe, and we believe it is very well positioned as a leading FinTech provider.”
CapitalCube
The Company has completed its systems integration relating to its AI-driven research distribution agreement with Refinitiv, the former Financial & Risk business of Thomson Reuters. The Company is now publishing pre-revenue research reports created by CapitalCube to Refinitiv’s Eikon users. AnalytixInsight and Refinitiv continue to expand the number of companies under coverage and collaborate on new reports that include worldwide companies that are not otherwise covered by traditional analyst research.
On October 1, 2018, The Blackstone Group L.P. and Thomson Reuters Corp. completed a partnership transaction to form Refinitiv, at an overall valuation of US$20 billion. The new Refinitiv business expects to invest in a number of key areas including AI and analytics to serve its customer base, which currently includes 40,000 institutions in over 190 countries.
Over the past 18 months, the Company has extensively developed a Robo-Advisor on the CapitalCube platform, which it expects to commercially deploy to clients and money managers in the future. The Company is also nearing completion of a new graphical user interface for CapitalCube which contains several updated improvements and ease-of-use features. This new version also improves navigation within CapitalCube for both desktop and mobile users, allowing users to efficiently research stocks and ETFs with speed and ease.
Workforce Optimization
The Company’s Workforce Optimization division joined the IFS Partner Network during 2018. IFS is a world leader in developing workforce optimization enterprise software for global customers who manage service-focused operations. AnalytixInsight plans to explore opportunities with IFS to jointly develop machine intelligence solutions to help organizations maximize operational efficiency, increase revenue, reduce costs and improve customer satisfaction.
AnalytixInsight Selected Financial Information:
| AnalytixInsight $ Canadian (unaudited) | Three months ended March 31, 2019 | Three months ended March 31, 2018 | ||
| Revenue | 947,082 | 1,015,286 | ||
| Basic net income (loss) per share | (0.00 | ) | (0.01 | ) |
| March 31, 2019 | December 31, 2018 | |||
| Total assets | 4,789,302 | 5,096,567 | ||
| Total liabilities | 586,469 | 663,754 | ||
Marketwall
Marketwall, a developer of FinTech solutions, is 49% owned by AnalytixInsight, and 33% owned by Intesa Sanpaolo.
Marketwall revenue for the three months ended March 31, 2019 was $1,443,625, one of the strongest quarters in its history and an increase of 69% compared to $852,641 during the same period in the previous year. Marketwall’s revenues are not included in AnalytixInsight’s consolidated revenue.
Marketwall developed the Intesa Sanpaolo Investo stock-trading app which was launched to Intesa Sanpaolo customers during 2018. Investo is part of Intesa Sanpaolo’s mobile app constellation which provides access to banking services, financing, savings, and investing.
Intesa Sanpaolo is a leading bank in Europe with approximately 11.9 million customers, has a network of approximately 4,400 branches throughout Italy, and has emerged as Italy's first digital bank. It was ranked as one of the three best digital banks in Europe according to the report “2017 European Online Banking Functionality Benchmark” by Forrester Research. Intesa Sanpaolo reports approximately 8 million multi-channel customers, of which 3 million are now using the Intesa Sanpaolo Mobile banking app with 56 million logins per month on the app alone, and 53 million mobile transactions with the app since the start of 2018. On November 30, 2018, Intesa Sanpaolo reported strong adoption of mobile apps and announced plans to invest 2.8 billion euros over the next three years to increase the bank’s digitized business to 70%.
Now that the Investo app has been successfully deployed, the major shareholders of Marketwall have initiated discussions to evaluate a spinout or other initiatives that the Company anticipates will allow it to recognize the corresponding value associated with its 49% ownership of Marketwall. The Company expects this strategy to be finalized during the first half of 2019 and intends to provide market updates on the plans and strategic initiatives for Marketwall as they develop.
Marketwall Selected Financial Information
AnalytixInsight owns 49% of Marketwall which is considered an associated company as its financial results are not consolidated in AnalytixInsight’s financial results.
| Marketwall (Associated investment of AnalytixInsight, $ Canadian) | Three months ended March 31, 2019 | Three months ended March 31, 2018 |
| Revenue | 1,443,625 | 852,641 |
| Net income (loss) | 504,827 | 81,920 |
| March 31, 2019 | December 31, 2018 | |
| Total assets | 4,153,306 | 3,919,233 |
| Total liabilities | 1,305,520 | 2,250,174 |
CONTACT INFORMATION:
Scott Urquhart
VP Corporate Development
Scott.Urquhart@AnalytixInsight.com
Tel: (416) 522-3975
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc. is an Artificial Intelligence, machine-learning company. AnalytixInsight’s financial analytics platform 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 also designs and implements Workforce Optimization solutions for large global enterprises. AnalytixInsight holds a 49% interest in Marketwall, a developer of FinTech solutions for financial institutions. For more information, visit AnalytixInsight.com.
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; the Company’s ability to spin out or monetize its interest in Marketwall, the use of the Company’s content by various parties; the impact of the distribution agreement with Refinitiv; the impact of the agreement with IFS and the Company’s ability to enter into commercial transactions with members thereof; 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 statements 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.
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