Datametrex Reports Record Quarter

Datametrex AI (TSXV:DM) has announced its second quarter financial results.

As quoted in the press release:

The Company has generated revenue of approximately $1.8M in the second quarter of 2018, an increase of 2,887% compared to the same period last year and 46% compared to the prior quarter.

“We are thrilled with our 2018 second quarter results, achieving record revenues. We were also able to operate at close to break even on an EBITDA basis. We look forward to the continued growth opportunities ahead as we capitalize on this momentum,” says Andrew Ryu, CEO and Chairman of the Company.

The filings, along with additional information regarding the Company, are available on SEDAR at www.sedar.com.

Financial Highlights

The following table reconciles income from operations to EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2018 and June 30, 2017:

	Three months ended June 30,				Six months ended June 30,
	2018 $		2017 $		2018 $		2017 $
Revenue	1,809,829		60,597		3,053,208		100,517
Net loss	(1,042,458)		(1,114,016)		(2,929,607)		(1,459,756)
EBITDA*	(206,724)		(1,112,926)		(1,359,112)		(1,458,199)
Adjusted EBITDA*	(131,469)		(329,848)		(142,592)		(675,121)
Adjusted EBITDA per share*	(0.001)		(0.006)		(0.001)		(0.013)

Datametrex has achieved the following:

• Recognized revenue in the amount of $3.1 million for the six-month period, of which $1.8 million was earned in the second quarter, compared with $0.1 million earned during the first six months of last year

Click here to read the full press release.