AnalytixInsight Reports 2020 Financial Results and Provides Business Update
TORONTO, April 26, 2021 (GLOBE NEWSWIRE) — Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), reports its financial results for the year ended December 31, 2020, and provides a business update.
Key 2020 and Recent Business Highlights
- AnalytixInsight 2020 revenue: $3.2 million, basic loss per share $(0.03),
- MarketWall 2020 revenue: $6.5 million, net income of $896,235 and reflects expenses of $305,789 for InvestoPro development and start-up, and
- InvestoPro received regulatory approval and has been introduced as the online broker of a leading European bank.
- AI-driven research distribution agreement with Refinitiv witnessed strong readership throughout the year and under this initiative more than 13,000 reports have been published on company earnings, dividend quality, and pre-revenue company analysis,
- Added ESG scores and metrics on approximately 9,000 global companies, which are embedded into CapitalCube’s analysis and narratives,
- Completed platform integration with MarketWall’s InvestoPro, and CapitalCube subscriptions are now also available through InvestoPro,
- Workforce Optimization division, Euclides, announced development of AI-based solutions tailored for the Field Service Management (FSM) industry for integration under the Company’s partnership with global enterprise software vendor IFS, as well as other FSM software solutions providers,
- Euclides design solution is targeted to meet the needs of customers in the Energy and Utilities industry verticals using cybernetic methods of human-machine intelligent interaction,
- Completed private placement raising gross proceeds of $1.7 million, and
- Named a top 10 tech company in 2020 TSX Venture 50.
MarketWall (49% owned):
- Completed development of European online financial broker, InvestoPro, a stock trading and analysis platform offering financial analysis, news, research, and investor education content throughout the European Union,
- Launched InvestoPro Lite as a multi-device progressive web app, and enabled virtual trading,
- Structured InvestoPro as its wholly owned subsidiary with a seven-member board of directors,
- InvestoPro has received regulatory approvals from the Italian financial markets regulator, draws an audience of over 2.5 million monthly visitors, and is a Samsung Electronics partner,
- InvestoPro was recently jointly introduced by MarketWall, AnalytixInsight, and Intesa Sanpaolo, whose customers will be able to access online trading with their bank credentials, and
- Launched GEMINA, a white label B2B trading platform for banks and brokers.
2020 Financial Highlights
AnalytixInsight revenue for 2020 was $3,178,767, which compares to $3,672,715 for 2019. Net loss for 2020 was $1,980,197 which compares to $1,669,958 for 2019.
MarketWall revenue for 2020 was $6,483,007, which compares to $6,219,613 for 2019. MarketWall net income for 2020 was $896,235, which compares to $1,450,076 for 2019 and reflects $305,789 in expenses related to InvestoPro development and start-up costs during the year. MarketWall is 49% owned by AnalytixInsight and thus not consolidated in AnalytixInsight’s financial results.