Artificial Intelligence company, AnalytixInsight Inc.
(“AnalytixInsight”, or the “Company”) (
TSX-V: ALY; OTCQB:
ATIXF), is pleased to announce its financial results for
the three and nine months ended September 30, 2019.
During the quarter, the Company continued
delivering its AI-driven machine-created content to Refinitiv
within its strategic initiative to provide research coverage on
approximately 3,000 dividend-paying companies in Canada, the US and
the UK. AI-driven content is becoming increasingly important as
financial businesses move to embrace AI and analytics as the
content cornerstones for their client offerings. Revenue for the
three-month period ended September 30, 2019, was $754,703 which
compares to $1,296,239 during the same period in the previous year.
Revenue for the nine-month period ended September 30, 2019, was
$2,852,177 which compares to $3,637,339 during the same period in
the previous year. At September 30, 2019, the Company had working
capital of $2,188,481 and no debt.
AnalytixInsight’s 49%-owned FinTech subsidiary,
Marketwall, has applied to become an online
financial broker in Europe and, following completion of regulatory
approvals, Marketwall expects to initiate a formal process to
determine its appropriate valuation within a peer-based context of
online brokerage firms with innovative technology and partnerships
with world-leading banks. Marketwall has advised the Company that
following such process, Marketwall will then raise suitable funds
to enable its global growth expansion plans. Completion of this
process will allow AnalytixInsight to move forward with a spinout
to unlock the value of its Marketwall holdings in an IPO or other
such strategies.
During its four-year operating history,
Marketwall has developed leading-edge FinTech solutions which
include:
Financial
portal – marketwall.com offers financial content, news,
real-time quotes, and video news stories. As a Samsung
Electronics partner, Marketwall’s financial app is pre-loaded on
certain devices – such as Smart TVs. Marketwall draws an audience
of over 3.5 million monthly views across its digital channels.
Mobile
Stock-Trading App – launched as Investo in 2018 by Italy’s
leading bank Intesa Sanpaolo and facilitated 20% of their customer
trading orders shortly after deployment.
GlobalMarket – a trading & research platform
offering analyst research and stock-trading in one common
enterprise digital platform. It is marketed and sold by a leading
investment research provider and has already been installed by a
leading bank in Western Europe for their approximately 4,000
professional users.
Research
Portal – an elegant financial research information portal
for use by banks and brokerage firms to better serve their
institutional buy-side clients. Research reports are organized and
summarized in a password-protected portal, allowing a client to
quickly search with ease, replacing the cumbersome email-based
distribution methods traditionally used.
Marketwall’s revenue for the nine-month period
ended September 30, 2019, was $3,452,697 which compares to
$2,808,130 during the same period in the previous year. Net income
for the nine-month period was $628,265 which compares to $542,712
during the same period in the previous year. Marketwall is an
associated company 49%-owned by AnalytixInsight, and as such,
Marketwall’s revenue is not included in AnalytixInsight’s
consolidated revenue.
AnalytixInsight believes its key strategic
initiatives - Artificial Intelligence and FinTech - are well
positioned to capitalize on the market trends occurring in the
industry.
Management Commentary
Prakash Hariharan, President & CEO of
AnalytixInsight, commented: “Our service offerings are well
developed, and we are working closely with several of the
industry’s leading corporations. The financial brokerage industry
is changing, and leading companies are embracing AI and FinTech as
an integral part of their offerings. Our platform capabilities and
service delivery solutions are being utilized by some of the
world’s leading organizations, and we are also eagerly awaiting
regulatory approvals for Marketwall to become a European financial
broker.”
AnalytixInsight Selected Financial
Information:
AnalytixInsight$ Canadian (unaudited) |
Three months ended Sept 30 |
|
Nine months ended Sept 30 |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
Revenue |
754,703 |
|
1,296,239 |
|
2,852,177 |
|
3,637,339 |
|
Basic net income (loss) per share |
(0.01 |
) |
(0.01 |
) |
(0.02 |
) |
(0.02 |
) |
|
|
|
|
|
|
Sept 30, 2019 |
|
Dec 31, 2018 |
|
|
|
Total assets |
5,726,442 |
|
5,096,567 |
|
|
|
Total liabilities |
531,501 |
|
663,754 |
|
|
|
|
|
|
|
|
|
|
Marketwall Selected Financial
Information:
AnalytixInsight owns 49% of Marketwall which is
considered an associated company as its financial results are not
consolidated in AnalytixInsight’s financial results.
Marketwall (Associated investment of
AnalytixInsight, $ Canadian) |
Nine months endedSept 30,
2019 |
Nine months ended Sept 30,
2018 |
Revenue |
3,452,697 |
2,808,130 |
Net income (loss) |
628,265 |
542,712 |
|
|
|
|
Sept 30, 2019 |
Dec 31, 2018 |
Total assets |
3,780,328 |
3,919,233 |
Total liabilities |
1,553,674 |
2,250,174 |
|
|
|
CapitalCube
AnalytixInsight is an established AI-driven
content supplier to Refinitiv with ability to provide content on
small & mid-cap companies worldwide through its CapitalCube
platform, which provides machine-created content with ability to
scale. The platform is a powerful analytics engine capable of 100
billion daily computations and currently provides analysis on
approximately 50,000 worldwide stocks and North American ETFs.
CapitalCube began publishing pre-revenue research reports to
Refinitiv’s Eikon users in November 2018. On June 17, 2019, the
Company expanded the scope of the pre-revenue analysis reports to
now include companies located in Italy, Germany, Hong Kong and
Japan in response to the increasing Refinitiv client usage of the
North American reports currently in production.
During the quarter, the Company continued
delivering its AI-driven machine-created content to Refinitiv
within its strategic initiative to provide research coverage on
approximately 3,000 dividend-paying companies in Canada, the US and
the UK. The CapitalCube dividend analysis report provides powerful
insights, analysis and scoring regarding a company’s dividend
quality, yield, coverage, flexibility, payment history, peer
comparisons and sustainability.
AnalytixInsight is pleased to be an AI-driven
content provider to Refinitiv and believes that its ability to
create scalable financial content on worldwide companies is being
recognized with increasing importance as global industry leaders
embrace analytics within the financial industry. On August 1, 2019,
the London Stock Exchange agreed to buy Refinitiv in a US$27
billion transaction to create a global financial markets
infrastructure provider with leading data and analytics to
Refinitiv’s 40,000 institutions in over 190 countries.
Workforce Optimization
AnalytixInsight’s Workforce Optimization
division joined the IFS Partner Network in 2018, and during the
quarter, the Company continued to advance its sales initiatives in
this market. IFS is a world leader in developing workforce
optimization enterprise software for global customers who manage
service-focused operations. AnalytixInsight plans to explore
opportunities with IFS to jointly develop machine intelligence
solutions to help organizations maximize operational efficiency,
increase revenue, reduce costs and improve customer
satisfaction.
Marketwall
Marketwall, a developer of FinTech solutions, is
49% owned by AnalytixInsight and 33% owned by Intesa Sanpaolo. On
July 15, 2019, the Company announced that Marketwall applied to
become an online financial broker (“Marketwall Brokerage”) to offer
leading FinTech-enabled services for receiving, transmitting and
executing stock trading orders; using the Investment Bank of Intesa
Sanpaolo as its execution broker. Marketwall Brokerage has
requested regulatory approvals for brokerage services initially in
Italy with intentions to expand to other European countries.
Marketwall Brokerage intends to develop multi-device trading
platforms, combining research and financial education.
Marketwall was established in Milan, Italy in
2014 by AnalytixInsight as a FinTech company with a focus on
stock-trading and financial apps. In September 2015, Marketwall and
Intesa Sanpaolo announced a partnership agreement to develop
stock-trading apps, and in April 2016 Intesa Sanpaolo acquired 33%
of Marketwall.
Intesa Sanpaolo is a leading bank in Europe with
approximately 11.9 million customers, a network of approximately
4,400 branches throughout Italy, and has emerged as Italy's
first digital bank. Intesa Sanpaolo now reports 8 million
multi-channel customers, of which 3 million are now using the
Intesa Sanpaolo Mobile banking app with 56 million logins per month
on the app alone, and 53 million mobile transactions with the app
since the start of 2018. On November 30, 2018, Intesa Sanpaolo
announced plans to invest 2.8 billion euros over the following
three years to increase the bank’s digitized business to 70%.
Mobile is at the heart of the bank's digital ecosystem. The "app
constellation" is centered around Intesa Sanpaolo Mobile, which
provides access to banking services, financing, savings and is
enhanced with the Intesa Sanpaolo Investo app (developed by
Marketwall) that enables customers to trade securities and monitor
their investment assets using their mobile device. CONTACT
INFORMATION:
Scott UrquhartVP Corporate
DevelopmentScott.Urquhart@AnalytixInsight.comTel: (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 adoption of AI in various
industries; the Company’s ability to spin out or monetize it’s
interest in Marketwall, the valuation of Marketwall, Marketwall’s
ability to raise adequate capital, Marketwall’s ability to obtain a
brokerage licence; 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; 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
Inc., 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; ability to successfully integrate new technology
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE
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