Datametrex Reports 2017 Financial Results

Datametrex (TSXV:DM) announced its 2017 annual consolidated financial statements with the company having a full year revenue of $1.5 million. The company also announced that it incurred $1.4 million of revenue takeover and acquisition costs.

Datametrex AI is a technology focused company with exposure to big data, collecting data from retail point of sales, artificial intelligence and machine learning.

As quoted in the press release:

Andrew Ryu, CEO and Chairman of the Company commented: “We are very pleased with what we have achieved in 2017. We have met key milestones that include the Reverse Take-Over transaction (the “RTO“), the acquisition of Nexalogy Environics, and the investment in our joint venture company, Graph Blockchain Limited. We have also secured key assets and a strong team with our acquisition of Ronin Blockchain in early 2018. We are now in position to reap the benefits of the investments we have made, drive top and bottom-line growth and leverage the synergies that we are seeing across our different verticals.”

Financial Highlights

The following table summarizes revenue, net loss, EBITDA and Adjusted EBITDA for the year ended December 31, 2017 and period from September 7, 2016 (date of incorporation) to December 31, 2016:

		Year ended	September 7
		December 31,	to December 31,
		2017	2016
		$	$
	Revenue	228,019	10,409
	Net Loss	(5,319,339)	(173,212)
EBITDA*		(5,239,222)	(173,057)
Adjusted EBITDA*		(3,244,101)	(136,440)
Adjusted EBITDA per share		(0.044)	(0.007)

“2017 was a year of aggressive growth and investment. Our top line benefited from the Nexalogy acquisition, with Pro Forma consolidated full year revenue of $1.5 million. We have also incurred $1.4 million of Reverse Take Over and Acquisition related costs which are one-time in nature and therefore non-recurring,” said Jeffrey Stevens, President and COO of the Company.

Datametrex has achieved the following in fiscal 2017:

• Completed a successful RTO to list on the TSX Venture Exchange;
• Closed on $7.9 million in gross proceeds through two private placement financing offerings;
• Closed on a $6.3 million acquisition of Nexalogy Environics;
• Listed on the Frankfurt Stock Exchange;
• Invested $0.2 million in its joint venture company, Graph Blockchain Limited.

Andrew Ryu, CEO and Chairman of the Company also commented: “We will continue to pursue opportunities that create shareholder value utilizing our Big Data, Artificial Intelligence, and Blockchain platforms. We see tremendous potential in these sectors and we are highly optimistic about our ability to position ourselves for growth as these industries gain momentum and opportunities begin to materialize.”

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