TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), reports financial results for the second quarter ended June 30, 2021.
Key Highlights:
- Completed an overnight marketed public offering raising gross proceeds of $9.3 million;
- Launched ESG Analytics research reports under Refinitiv AI-driven research initiative;
- Announced expansion to AI-driven research distribution agreement with Refinitiv;
- Received European regulatory approval for InvestoPro as online financial broker;
- Introduced InvestoPro, together with Intesa Sanpaolo, as their AI-assisted digital trading platform. InvestoPro has 2.5 million visitors per month through its multi-channels: website, social, smart TV, mobile app and progressive web app;
- The Intesa Sanpaolo migration of stock trading accounts to InvestoPro is expected to begin in the third quarter of 2021. Intesa Sanpaolo is one of the top banking groups in Europe with approximately 11.6 million multichannel customers and approximately 7.1 million customers using the Intesa Sanpaolo App;
- Announced the addition of payment processing to the InvestoPro digital trading platform, pending regulatory approvals, to allow InvestoPro users to make payments, remittances, and money transfers between accounts;
- Announced the development of a North American AI-assisted stock trading and research platform which will include real-time quotes, financial analysis, robo-advisory and unique order management provisions;
- AnalytixInsight’s revenue for the three and six month periods ended June 30, 2021, was $773,834 and $1,727,162 respectively, which represents an increase of 3% and 24% respectively, when compared to $750,034 and $1,395,380 respectively in the prior year comparable periods. Net loss for the quarter was $409,271 which compares to $357,700 for the prior year comparable period;
- MarketWall’s revenue for the three and six month periods ended June 30, 2021, was $1,394,911 and $2,369,552 respectively, which compares to $1,595,427 and $2,913,694 respectively in the prior year comparable periods. MarketWall returned to profitability, reporting net income for the quarter of $90,984 which compares to net income of $407,892 for the prior year comparable period, and net loss of $259,243 in the first quarter ended March 31, 2021, which is reflective of the investment MarketWall has made in the development of InvestoPro during the current fiscal year. MarketWall is 49%-owned by AnalytixInsight and thus not consolidated in AnalytixInsight’s financial results;
- As at June 30, 2021, AnalytixInsight has a cash balance of $10,107,988 and working capital of $9,549,531.
Business Review
AnalytixInsight is an established AI-driven content supplier with the ability to offer scalable machine-created research content on approximately 50,000 worldwide stocks and North American ETFs through its CapitalCube platform. CapitalCube provides AI-driven research reports to Refinitiv, an LSEG (London Stock Exchange Group) business and one of the world’s largest providers of financial markets data and infrastructure. Under the Refinitiv initiative, CapitalCube has published more than 13,000 reports on company earnings, dividend quality, and pre-revenue company analysis.
During the quarter, the Company launched ESG Analytics research reports which embed ESG scores and ESG metrics into its proprietary analysis and narratives. ESG (Environmental, Social, and Governance) is commonly used as a generic term by investors and regulators to evaluate corporate behaviors. CapitalCube also performs robo-analysis of stocks and North American ETFs, allowing robo-portfolio selection based on broad market metrics, dividend quality, Efficient Frontier computations, and more.
AnalytixInsight’s 49%-owned FinTech affiliate, MarketWall, has developed InvestoPro as a European online broker allowing users to trade stocks, options, and derivatives. In March 2021, Investo received regulatory approval by CONSOB (Commissione Nazionale per le Società e la Borsa), the Italian financial markets regulator. InvestoPro has been enabled as an AI-assisted trading platform incorporating artificial intelligence and machine-created content to assist investors in making investment decisions through its interconnection with CapitalCube.
During the quarter, InvestoPro was jointly introduced by MarketWall, AnalytixInsight, and Intesa Sanpaolo, whose customers will be able to activate online trading using their bank credentials. Intesa Sanpaolo, one of the top banking groups in Europe with approximately 7.1 million customers using the Intesa Sanpaolo App, is preparing to introduce InvestoPro to its customers as its online digital trading platform and migration of stock trading accounts to InvestoPro is expected to begin in September 2021. Intesa Sanpaolo owns 33% of MarketWall and has a presence in 12 countries in Central-Eastern Europe, the Middle East and North Africa, and an international network dedicated to corporate customers in 26 countries. Intesa Sanpaolo is considered one of the most sustainable banks in the world.
During the quarter, the Company announced that MarketWall intends to begin the regulatory process steps to add payment processing capabilities to InvestoPro to enable users to make payments and transfer funds between accounts. InvestoPro already draws an audience of over 2.5 million monthly visitors through its multi-device platform and social media presence. As a Samsung Electronics partner, the InvestoPro app is also preloaded on certain Samsung devices in Europe.
MarketWall offers its next-generation trading platform as a white label B2B product offering to banks and brokers under the brand GEMINA, allowing a bank or broker to license the online stock trading solution for deployment under their own brand, interconnected to their existing trading platform. Worldwide interest in online brokers has increased significantly over the past year as a new generation of investors got their start in investing and opened online accounts in record numbers. AnalytixInsight is uniquely positioned to provide the tools investors are now seeking such as AI-assisted financial analysis, market commentaries, ESG scores, training, education, and more.
During the quarter, AnalytixInsight announced its intention to develop a stock trading platform for North American users, banks, and brokers, that will integrate the attributes of CapitalCube, InvestoPro and GEMINA to offer real-time quotes, financial analysis, investor education, robo-advisory, stock trading, and more.
AnalytixInsight’s Workforce Optimization division, Euclides Technologies Inc., continues to advance its sales initiatives in the Field Service Management (FSM) industry. As a result of the pandemic, many North American businesses are now seeking innovative solutions for field dispatch, job tracking and workflow efficiency. Data analytics plays an important role in this shift, which is more easily enabled now that most service technicians use digital-based solutions. The Company is working collaboratively with industry leaders to design and build machine learning and deep learning solutions that are designed to improve Workforce Optimization and Scheduling in the FSM industry. Euclides is a highly skilled systems integration team experienced in integrating IFS and Salesforce field management solutions.
Complete details of the Company’s financial and operating results are available under the Company’s profile at www.SEDAR.com.
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 impact of COVID-19 on the Company’s operations; the Company’s financial results; the adoption of AI in various industries and the anticipated benefits therefrom; the ability of InvestoPro to provide the tools investors are seeking and to grant Intesa Sanpaolo’s customers online trading access; the Company’s expectation that Intesa Sanpaolo will introduce its customers and migrate stock trading accounts to InvestoPro beginning in September 2021; the ability of MarketWall to license GEMINA to banks and brokers globally; the use of the Company’s content by various parties; the impact of the distribution agreement with Refinitiv; the Company’s ongoing relationship with IFS and the Company’s ability to enter into commercial transactions with members thereof; the Company’s ability to expand its content distribution; MarketWall’s and Intesa Sanpaolo’s future performance; the ability of the Company to develop a stock trading platform for North American users including the features described in this release; 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, 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; the Company’s ability to successfully integrate new technologies 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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