AnalytixInsight Reports Second Quarter Financial Results

AnalytixInsight (TSXV:ALY) announced financial results for the second quarter ended June 30, 2018.

The company reported revenues of C$1.3 million which is 37 percent increase as compared to the same period last year.

As quoted in the press release:

Prakash Hariharan, President & CEO, commented: “We significantly strengthened our strategic partnerships during the quarter and we are advancing nicely on our strategic initiatives. We are very pleased with our financial growth in this second quarter.”

Key Highlights:

• Revenue for the three months ended June 30, 2018 was $1,325,814, an increase of 37% when compared to revenue of $967,946 in the same period in the previous year, and an increase of 31% when compared to revenue of $1,015,286 in the previous quarter ended March 31, 2018.

• Revenue for the six months ended June 30, 2018 was $2,341,100, an increase of 80% when compared to revenue of $1,302,364 in the same period in the previous year.

• Working capital at June 30, 2018 was $1,736,459, which compares to $1,825,426 at March 31, 2018.

• The Company entered into an AI-driven research distribution agreement with Thomson Reuters during the quarter, whereby Thomson Reuters will distribute content generated by AnalytixInsight’s machine-learning platform to customers on its financial desktop applications, Eikon and Thomson One.

• The Company joined global Fintech innovation center “The Floor”, an Israeli Fintech hub partnered with several of the world’s largest banks.

• The Company joined the IFS Partner Network to extend workforce optimization capabilities and advance machine-intelligence offerings within the industry.

• AnalytixInsight’s 49% owned subsidiary Marketwall, continued to progress their business as planned and reported revenue of $965,964 and remained profitable with a net income of $185,253 for the quarter. The Company and Marketwall are working together on the strategic plan for the spin out of Marketwall, following the successful product integration with Intesa Sanpaolo.

Click here for the full text release.