Highlights
AnalytixInsight continued to advance its CapitalCube AI-driven research distribution agreement with Refinitiv to provide research coverage on approximately 3,000 dividend-paying companies inCanada , US, andUK . Report readership increased strongly during the quarter, more than triple the previous year, as users rapidly embrace the use of AI in fundamental financial analysis.AnalytixInsight expanded its Workforce Optimization initiative and is actively sourcing new opportunities that are emerging because of COVID-19 impacts on certain industries.AnalytixInsight named a top 10 performing technology company in the 2020 TSX Venture 50™.- FinTech subsidiary, MarketWall, made additional investments in its operations and advanced developments of its stock-trading platform in preparation to become a European online financial broker, following regulatory approvals.
- MarketWall’s JV partner, Intesa Sanpaolo, reported strong online digital channel usage during the quarter, and the Company expects MarketWall will benefit from the surging new trend toward online channels caused by the COVID-19 pandemic.
- AnalytixInsight’s revenue for the quarter ended
March 31, 2020 , was$0.6 million and net loss was$0.5 million . - MarketWall’s revenue for the quarter ended
March 31, 2020 , was$1.3 million , and net income was$0.25 million . (MarketWall is 49% owned byAnalytixInsight and not consolidated in AnalytixInsight’s financial results).
Management Commentary
AnalytixInsight Selected Annual Financial Information:
$ Canadian (unaudited) | Three months ended | Three months ended | ||
Revenue | 645,346 | 947,082 | ||
Basic net income (loss) per share | (0.01 | ) | (0.00 | ) |
Total assets | 5,477,915 | 5,546,267 | ||
Total liabilities | 706,427 | 523,853 |
MarketWall Selected Financial Information:
MarketWall (Associated investment of | Three months ended | Three months ended | ||
Revenue | 1,318,267 | 1,443,625 | ||
Net income | 250,442 | 504,827 | ||
Total assets | 5,304,773 | 5,206,824 | ||
Total liabilities | 1,797,913 | 2,139,151 |
CapitalCube
The Company entered an AI-driving research distribution agreement with Refinitiv in 2018 to provide machine-created research on pre-revenue North American companies. This strategic initiative was expanded to include reports on pre-revenue companies in
Workforce Optimization
AnalytixInsight’s Workforce Optimization division joined the IFS Partner Network in 2018, and the Company is advancing 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.
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’s Workforce Optimization division is a highly skilled systems integration team and the Company will apply an increased focus on this initiative with new solutions and strategies that are emerging as a result of COVID-19.
MarketWall
MarketWall (49%-owned by
MarketWall developed “Investo” which is the stock-trading component of the Intesa Sanpaolo App, ranked top 4th App in
MarketWall has applied to become an online financial broker in
MarketWall has developed and launched leading-edge FinTech solutions which include financial portal www.marketwall.com which offers financial content, news, real-time quotes, and video news stories, drawing an audience of over 2 million monthly views across its digital channels. As a Samsung Electronics partner, MarketWall’s financial app is pre-loaded on certain devices such as Smart TVs.
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
Intesa Sanpaolo owns 33% of MarketWall and is one of the top banking groups in
Complete details of the Company’s financial and operating results are available under the Company’s profile at www.SEDAR.com.
CONTACT INFORMATION:
VP Corporate Development
Scott.Urquhart@AnalytixInsight.com
Tel: (416) 522-3975
ABOUT
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; 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
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Source:
2020 GlobeNewswire, Inc., source