Artificial Intelligence company, AnalytixInsight Inc. ("AnalytixInsight", or the "Company") ( TSX-V: ALY; OTCQB: ATIXF), reports financial results for the third quarter ended September 30, 2021.
- AnalytixInsight significantly advanced its AI-driven research distribution agreement with Refinitiv during the quarter, quadrupling the number of company research reports published to 7,305, compared to 1,722 in the same period in the previous year. Total reports published as of September 30, 2021 is 25,871, which compares to 3,090 on September 30, 2020;
- InvestoPro, the Company's recently approved European online trading platform, is now onboarding user accounts, and actively promoting new user sign ups. Having already been introduced as Intesa Sanpaolo's innovative online trading platform, InvestoPro allows those customers to activate their trading account using their banking login credentials. Intesa Sanpaolo has over 7 million active users of the Intesa Sanpaolo Mobile App, has over 1 billion logins per year, and is one of the top banking groups in Europe;
- AnalytixInsight continues to develop its North American AI-assisted stock trading and research platform, which is being designed to include real-time quotes, financial analysis, robo-advisory and unique order management provisions;
- AnalytixInsight's revenue for the three- and nine-month periods ended September 30, 2021, was $703,799 and $2,430,961 respectively, which compares to $900,505 and $2,295,885 respectively in the prior year comparable periods. Loss per share for the quarter was $(0.02) which compares to $(0.01) for the prior year comparable period, and includes certain non-cash expense items;
- MarketWall's revenue for the three- and nine-month periods ended September 30, 2021, was $1,348,436 and $3,717,988 respectively, which compares to $1,485,440 and $4,399,134 respectively in the prior year comparable periods. Net loss for the quarter was $56,236 which compares to net income of $224,275 for the prior year comparable period and is reflective of InvestoPro development and start-up costs. MarketWall is 49%-owned by AnalytixInsight and thus not consolidated in AnalytixInsight's financial results;
- AnalytixInsight's Workforce Management division partnered with Zinier, a leader in field service automation, to power a new era of AI and intelligent automation and announced customer installations with three Certified appliance repair service providers for Whirlpool Corporation. The Company intends to commence a strategic review of opportunities for its Workforce Management division, in light of the Company's increasing focus on the FinTech industry.
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 25,871 reports on company earnings, dividend quality, and pre-revenue company analysis.
During 2021, 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 FinTech affiliate, MarketWall, has developed InvestoPro as a European online broker allowing users to trade stocks, options, and derivatives. In March 2021, InvestoPro 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. MarketWall has also initiated the regulatory process steps to add payment processing capabilities to InvestoPro to enable users to make payments and transfer funds between accounts.
InvestoPro has been jointly introduced by AnalytixInsight and Intesa Sanpaolo as Intesa Sanpaolo's online digital trading platform, whose customers will be able to activate online trading using their Intesa Sanpaolo Mobile App login credentials. The Intesa Sanpaolo Mobile App has over 7 million active users and over 1 billion logins per year. Intesa Sanpaolo is one of the soundest and most profitable banks in Europe and has subsidiaries operating in 12 countries in Central-Eastern Europe, the Middle East and North Africa, as well as an international network supporting corporate customers in 25 countries.
InvestoPro is now actively onboarding user accounts and promoting new user sign ups through various marketing promotions. 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, InvestoPro is also preloaded on certain Samsung devices in Europe.
MarketWall also offers its next-generation trading platform powering InvestoPro as a white label B2B product offering to banks and brokers under the brand GEMINA. GEMINA allows banks or brokers 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.
AnalytixInsight has commenced the development of a stock trading platform for North American users, banks, and brokers that is being designed to 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 Management division, Euclides Technologies, continues to advance its sales initiatives in the Field Service Management (FSM) industry. 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. During the quarter, the Company announced that Euclides Technologies has partnered with Zinier, a leader in field service automation, to power a new era of AI and intelligent automation and announced customer installations with three Certified appliance repair service providers for Whirlpool Corporation.
The Company intends to commence a strategic review of opportunities for its Workforce Management division, in light of the Company's increasing focus within the FinTech industry. During the quarter, the Company recorded a one-time non-cash impairment charge of $677,120 related to the carrying value of the goodwill associated with its Workforce Management division as part of this initiative and due to changes in market conditions. The impairment charge is an adjustment that does not affect the Company's cash position or cash flow from operating activities.
Complete details of the Company's financial and operating results are available under the Company's profile at www.SEDAR.com.
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.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company's business operations and objectives; the ability of the Company to provide the tools investors are seeking and to develop a stock trading platform for North American users including the features described in this release; the Company's anticipated strategic review of opportunities for its Workforce Management division; 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20211129005190/en/