Artificial Intelligence company, AnalytixInsight Inc.
(“AnalytixInsight”, or the “Company”) (
TSX-V: ALY; OTCQB:
ATIXF), reports its financial results for the third
quarter ended September 30, 2020.
Highlights:
- The Company’s
CapitalCube AI-driven research pursuant to the
distribution agreement with Refinitiv continued to witness strong
readership during the quarter as users embrace the use of AI in
fundamental financial analysis.
- Continued development of robo-based
ETF and equity analysis to create and develop proprietary indices
to be featured in a new version of index driven products in
CapitalCube.
- Workforce
Optimization initiatives continue to advance. The Company
is pursuing strategic transformation in this rapidly growing
business opportunity and will develop 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. The
initial design of these solutions is targeted to meet the needs of
customers in the Energy and Utilities industry verticals using
cybernetic methods of human-machine intelligent interaction.
- MarketWall made
strong progress in its online brokerage initiative, InvestoPro, in
preparation of becoming a European online financial broker.
InvestoPro has been constituted with a seven-member board of
directors, and the development of the online brokerage platform is
materially complete. During the quarter, the InvestoPro stock
trading platform was expanded to allow trading of options and
derivatives.
- MarketWall has launched MarketWall
Lite as a multi-device progressive web app. Several new features
have also been launched such as virtual trading, price alerts,
custom stock selector, company profiles and a learning academy that
offers specialized investor education content.
- AnalytixInsight’s revenue for the
three- and nine-month periods ended September 30, 2020, was $0.9
million and $2.3 million, respectively, and net loss was $0.8
million and $1.6 million, respectively.
- MarketWall revenue for the
nine-month period ended September 30, 2020 increased 27% over the
prior year comparable period to $4.4 million. MarketWall remained
profitable with net income of $0.9 million for the nine-month
period, a 40% increase over the prior year comparable period.
(MarketWall is 49% owned by AnalytixInsight and not consolidated in
AnalytixInsight’s financial results).
- The Company completed a
non-brokered private placement raising gross proceeds of $1.7
million subsequent to the end of the third quarter.
AnalytixInsight
Selected Financial
Information:
AnalytixInsight$ Canadian (unaudited) |
Nine months
endedSeptember
30,
2020 |
|
Nine months
endedSeptember
30, 2019 |
|
Revenue |
2,295,885 |
|
2,852,177 |
|
Basic net loss per share |
(0.02 |
) |
(0.01 |
) |
|
September
30, 2020 |
|
December 31, 2019 |
|
Total assets |
4,837,786 |
|
5,546,267 |
|
Total liabilities |
1,083,963 |
|
523,853 |
|
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 ended
September
30, 2020 |
|
Nine months
endedSeptember
30, 2019 |
|
Revenue |
4,399,134 |
|
3,452,697 |
|
Net income |
882,609 |
|
628,265 |
|
|
September
30, 2020 |
|
December 31, 2019 |
|
Total assets |
6,075,044 |
|
5,206,824 |
|
Total liabilities |
1,878,535 |
|
2,139,151 |
|
CapitalCube
AnalytixInsight is an established AI-driven
content supplier with ability to offer research content on small
& mid-cap companies worldwide through its CapitalCube platform
which delivers scalable, machine-created content. Its powerful
analytics engine is capable of 100 billion daily computations and
currently provides analysis on approximately 50,000 worldwide
stocks and North American ETFs.
CapitalCube provides AI-driven research to
Refinitiv on North American pre-revenue companies and
dividend-paying companies worldwide. CapitalCube’s dividend
analysis report provides powerful insights, analysis and scoring
regarding a company’s dividend quality, yield, coverage,
flexibility, payment history, peer comparisons and
sustainability. Report readership continued to increase
during the quarter as users rapidly embrace the use of AI in
fundamental financial analysis.
AnalytixInsight believes that its ability to
create scalable financial content on companies worldwide is being
recognized with increasing importance as global industry leaders
embrace analytics within the financial industry. The London Stock
Exchange has 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.
During the quarter, CapitalCube continued
development of robo-based ETF and equity analysis designed to
develop proprietary indices and specialized portfolio criteria
selection based on Efficient Frontier computations. The Company is
engaged in discussions with professional portfolio managers
relating the use of CapitalCube’s robo-analysis and AI to be
featured in new versions of index-driven products in
CapitalCube.
Workforce Optimization
AnalytixInsight’s Workforce Optimization
division joined the IFS Partner Network in 2018 and is advancing
its sales initiatives in the Field Service Management (FSM)
industry. IFS is a world leader in developing workforce
optimization enterprise software for global customers who manage
service-focused operations. The COVID-19 pandemic has disrupted
many North American businesses and is disrupting the traditional
operations of service-based organizations. They are now seeking
innovative solutions for field dispatch, job tracking, and workflow
efficiency. Data analytics plays an important role in this shift,
which is more easily enabled now that most service technicians use
digital-based solutions.
The Company is working collaboratively with IFS
to design and build machine learning and deep learning solutions
that are designed to improve Workforce Optimization and Scheduling
in the FSM industry. The initial design of these solutions is
targeted to meet the needs of customers in the Energy and Utilities
industry verticals using cybernetic methods of human-machine
intelligent interaction. Machine learning algorithms based on
cybernetics will facilitate insightful learnings from the data
currently generated by the FSM industry.
The Company’s Workforce Optimization division is
a highly skilled systems integration team experienced in
integration of IFS and Salesforce field management solutions. The
Company is applying an increased focus on this initiative with new
solutions and strategies that are emerging as a result of
COVID-19.
MarketWall
MarketWall is a 49%-owned FinTech online digital
solutions provider to major financial services firms in Europe. It
draws an audience of over 2.5 million monthly users through its
multi-device platform and social media presence. As a Samsung
Electronics partner, MarketWall’s financial app is preloaded on
certain Samsung devices in Europe.
During the quarter, MarketWall advanced
development of InvestoPro, its European online
brokerage initiative. Options & derivatives trading has been
added to the product suite, in addition to stock trading. The
editorial team is now producing “Trading Ideas” content which is
designed to educate investors by offering weekly stock market
summaries, worldwide financial market outlooks, educational content
for stocks, bonds, currencies, new emerging industry trend
analysis, and more. Several new features have also been added such
as Virtual Trading, Price Alerts, Company Profiles, and Academy –
an education center that offers webinars and on-demand courses
designed to deepen investors knowledge of financial markets.
Following regulatory approvals InvestoPro will launch in Italy and
then expand to other European countries, using Intesa Sanpaolo as
its execution broker. InvestoPro will offer discounted stock
trading commissions and other services designed to give individual
investors greater control over their investments and trading.
MarketWall has already developed “Investo” which
is the stock trading component of the Intesa Sanpaolo App, ranked
top 4th App in Europe by Forrester Digital Wave. The number of
Intesa Sanpaolo banking app users has increased by approximately 1
million over the past year to 6.2 million.
MarketWall
Lite has been launched as a Progressive Web App
(PWA). PWAs function like web browsers with the convenience of an
app-like format that can be downloaded to the home screen of any
device (desktop, mobile, tablet) for quick access. PWAs require
less memory space and data usage compared to native apps while
offering quicker load times and the ability to use certain features
when offline.
Following the completion of MarketWall’s online
brokerage initiative InvestoPro, MarketWall expects to initiate a
valuation process to determine its appropriate valuation within a
peer-based context of online brokerage firms with partnerships with
world-leading banks. 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.
MarketWall has also developed 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.
Intesa Sanpaolo owns 33% of MarketWall and is
one of the top banking groups in Europe with approximately 11.8
million customers and approximately 3,700 branches throughout
Italy. It has emerged as Italy's first digital bank and is
investing 2.8 billion euros in a strategic plan to increase the
bank’s digitized business to 70%, with mobile being at the heart of
the digital ecosystem. S&P Global ranks Intesa Sanpaolo as the
27th largest bank in the world by total assets.
Complete details of the Company’s financial and
operating results are available under the Company’s profile at
www.SEDAR.com. 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 impact of COVID-19 on the Company’s
operations; the Company’s financial results; 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 and complete the development
of InvestoPro; the Company’s financial results; 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; MarketWall’s and Intesa
Sanpaolo’s future performance; 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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