Artificial Intelligence company, AnalytixInsight Inc.
(“AnalytixInsight”, or the “Company”) (
TSX-V: ALY; OTCQB:
ATIXF), reports financial results for the second quarter
ended June 30, 2021.
Key Highlights:
- Completed an overnight marketed
public offering raising gross proceeds of $9.3 million;
- Launched ESG Analytics research
reports under Refinitiv AI-driven research initiative;
- Announced expansion to AI-driven
research distribution agreement with Refinitiv;
- Received European regulatory
approval for InvestoPro as online financial broker;
- Introduced InvestoPro, together with
Intesa Sanpaolo, as their AI-assisted digital trading platform.
InvestoPro has 2.5 million visitors per month through its
multi-channels: website, social, smart TV, mobile app and
progressive web app;
- The Intesa Sanpaolo migration of
stock trading accounts to InvestoPro is expected to begin in the
third quarter of 2021. Intesa Sanpaolo is one of the top banking
groups in Europe with approximately 11.6 million multichannel
customers and approximately 7.1 million customers using the Intesa
Sanpaolo App;
- Announced the addition of payment
processing to the InvestoPro digital trading platform, pending
regulatory approvals, to allow InvestoPro users to make payments,
remittances, and money transfers between accounts;
- Announced the development of a North
American AI-assisted stock trading and research platform which will
include real-time quotes, financial analysis, robo-advisory and
unique order management provisions;
- AnalytixInsight’s revenue for the
three and six month periods ended June 30, 2021, was $773,834 and
$1,727,162 respectively, which represents an increase of 3% and 24%
respectively, when compared to $750,034 and $1,395,380 respectively
in the prior year comparable periods. Net loss for the quarter was
$409,271 which compares to $357,700 for the prior year comparable
period;
- MarketWall’s revenue for the three
and six month periods ended June 30, 2021, was $1,394,911 and
$2,369,552 respectively, which compares to $1,595,427 and
$2,913,694 respectively in the prior year comparable periods.
MarketWall returned to profitability, reporting net income for the
quarter of $90,984 which compares to net income of $407,892 for the
prior year comparable period, and net loss of $259,243 in the first
quarter ended March 31, 2021, which is reflective of the investment
MarketWall has made in the development of InvestoPro during the
current fiscal year. MarketWall is 49%-owned by AnalytixInsight and
thus not consolidated in AnalytixInsight’s financial results;
- As at June 30, 2021, AnalytixInsight
has a cash balance of $10,107,988 and working capital of
$9,549,531.
Business Review
AnalytixInsight is an established AI-driven content supplier
with the ability to offer scalable machine-created research content
on approximately 50,000 worldwide stocks and North American ETFs
through its CapitalCube platform. CapitalCube provides AI-driven
research reports to Refinitiv, an LSEG (London Stock Exchange
Group) business and one of the world’s largest providers of
financial markets data and infrastructure. Under the Refinitiv
initiative, CapitalCube has published more than 13,000 reports on
company earnings, dividend quality, and pre-revenue company
analysis.
During the quarter, the Company launched ESG Analytics research
reports which embed ESG scores and ESG metrics into its proprietary
analysis and narratives. ESG (Environmental, Social, and
Governance) is commonly used as a generic term by investors and
regulators to evaluate corporate behaviors. CapitalCube also
performs robo-analysis of stocks and North American ETFs, allowing
robo-portfolio selection based on broad market metrics, dividend
quality, Efficient Frontier computations, and more.
AnalytixInsight’s 49%-owned FinTech affiliate, MarketWall, has
developed InvestoPro as a European online broker allowing users to
trade stocks, options, and derivatives. In March 2021, Investo
received regulatory approval by CONSOB (Commissione Nazionale per
le Società e la Borsa), the Italian financial markets regulator.
InvestoPro has been enabled as an AI-assisted trading platform
incorporating artificial intelligence and machine-created content
to assist investors in making investment decisions through its
interconnection with CapitalCube.
During the quarter, InvestoPro was jointly introduced by
MarketWall, AnalytixInsight, and Intesa Sanpaolo, whose customers
will be able to activate online trading using their bank
credentials. Intesa Sanpaolo, one of the top banking groups in
Europe with approximately 7.1 million customers using the Intesa
Sanpaolo App, is preparing to introduce InvestoPro to its customers
as its online digital trading platform and migration of stock
trading accounts to InvestoPro is expected to begin in September
2021. Intesa Sanpaolo owns 33% of MarketWall and has a presence in
12 countries in Central-Eastern Europe, the Middle East and North
Africa, and an international network dedicated to corporate
customers in 26 countries. Intesa Sanpaolo is considered one of the
most sustainable banks in the world.
During the quarter, the Company announced that MarketWall
intends to begin the regulatory process steps to add payment
processing capabilities to InvestoPro to enable users to make
payments and transfer funds between accounts. InvestoPro already
draws an audience of over 2.5 million monthly visitors through its
multi-device platform and social media presence. As a Samsung
Electronics partner, the InvestoPro app is also preloaded on
certain Samsung devices in Europe.
MarketWall offers its next-generation trading platform as a
white label B2B product offering to banks and brokers under the
brand GEMINA, allowing a bank or broker to license the online stock
trading solution for deployment under their own brand,
interconnected to their existing trading platform. Worldwide
interest in online brokers has increased significantly over the
past year as a new generation of investors got their start in
investing and opened online accounts in record numbers.
AnalytixInsight is uniquely positioned to provide the tools
investors are now seeking such as AI-assisted financial analysis,
market commentaries, ESG scores, training, education, and more.
During the quarter, AnalytixInsight announced its intention to
develop a stock trading platform for North American users, banks,
and brokers, that will integrate the attributes of CapitalCube,
InvestoPro and GEMINA to offer real-time quotes, financial
analysis, investor education, robo-advisory, stock trading, and
more.
AnalytixInsight’s Workforce Optimization division, Euclides
Technologies Inc., continues to advance its sales initiatives in
the Field Service Management (FSM) industry. As a result of the
pandemic, many North American businesses 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 industry
leaders to design and build machine learning and deep learning
solutions that are designed to improve Workforce Optimization and
Scheduling in the FSM industry. Euclides is a highly skilled
systems integration team experienced in integrating IFS and
Salesforce field management solutions.
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 and the anticipated benefits therefrom; the ability of
InvestoPro to provide the tools investors are seeking and to grant
Intesa Sanpaolo’s customers online trading access; the Company’s
expectation that Intesa Sanpaolo will introduce its customers and
migrate stock trading accounts to InvestoPro beginning in September
2021; the ability of MarketWall to license GEMINA to banks and
brokers globally; 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; the ability
of the Company to develop a stock trading platform for North
American users including the features described in this release;
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, 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; the Company’s ability to successfully integrate new
technologies 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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