ALY TRIPLES Q2 REVENUES AND PROVIDES CORPORATE UPDATE 2017-08-29 18:22 ET - News Release
Mr. Prakash Hariharan reports
ANALYTIXINSIGHT TRIPLES Q2 REVENUES AND PROVIDES CORPORATE UPDATE
AnalytixInsight Inc. has released record financial results for the second quarter ended June 30, 2017.
Second quarter 2017 financial highlights:
- The company's revenue for the quarter (excluding Marketwall) was the highest in the company's history at $967,946, which is more than triple the revenue during the same period in the previous year of $302,235, and 289 per cent over first quarter revenues of $334,418.
- The company's revenue for the six months ended June 30, 2017, was $1,302,364, compared with $497,087 for the same period in the previous year.
- Profitability continued to improve, with losses significantly decreasing. Net loss for the quarter fell substantially to $41,932, compared with $426,589 for the same period in the previous year.
- Loss per share for the second quarter of 2017 was nil, compared with one cent for the second quarter of 2016.
- Marketwall's revenue for the quarter was the highest in Marketwall's history at $1,850,497, a sixfold increase when compared with $283,766 in the same period in the previous year. AnalytixInsight owns 49 per cent of Marketwall, which is considered an associated company as its financial results are not consolidated with the company's financial results. The company continues to advance its strategy of spinning out Marketwall following the completion of Marketwall's product integration within Intesa Sanpaolo's mobile platform.
- Marketwall's revenue for the six months ended June 30, 2017, was $2,628,389, compared with $579,231 for the same period in the previous year.
- The recently acquired Euclides Technologies Inc. currently has an order backlog of approximately $3-million.
- The company continues to develop its partnership with Euronext NV to provide its high-quality financial research to Euronext, the leading Pan-European exchange in the Eurozone.
SELECTED FINANCIAL INFORMATION Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 AnalytixInsight revenue $967,946 $302,235 $1,302,364 $497,087 Marketwall revenue (associated company, 49% owned, non-consolidated) $1,850,497 $283,766 $2,628,389 $579,231
CapitalCube
CapitalCube continued to average approximately two million user sessions per month through various distribution channels. CapitalCube has begun custom delivery and integration of its content under its licensing partnership with Euronext. Under the terms of the partnership, the company's CapitalCube portal will deliver value added financial analysis and content, including key ratios and charts, on Euronext-listed companies to Euronext's website and mobile apps. Euronext will also market and sell CapitalCube's professional subscription licences to various brokers, financial institutions and listed corporations in Europe.
Marketwall
Marketwall's revenue for the second quarter of 2017 was $1,850,497, compared with $283,766 in the same period in the previous year. Marketwall recorded strong revenues after reaching an invoicing milestone on its contract with Intesa Sanpaolo's mobile banking division. AnalytixInsight owns 49 per cent of Marketwall, which is considered an associated company as its financial results are not consolidated with the company's financial results. The company and Intesa Sanpaolo expect to spin out Marketwall following the completion of Marketwall's product integration within Intesa Sanpaolo's mobile platform. The completion of this integration is expected during the second half of 2017, and is expected to result in the migration of over eight million retail banking customers of Intesa Sanpaolo to Marketwall.
Euclides
In the first quarter of 2017, the company completed the previously announced acquisition of certain assets of Euclides. Euclides is an expert systems integrator and consulting partner for field service management solutions and has touch points to over 100,000 field service personnel.
The order backlog continues to grow and currently stands at approximately $3-million, which is on track with expectations.
AnalytixInsight's machine learning platform and artificial intelligence capabilities are well suited to serve today's analytics and scheduling requirements within the field service management (FSM) industry. The FSM industry is being shaped by trends such as the Internet of Things, which generates data, and workflow analytics tools that can deliver predictive analytics, enhanced auto-scheduling, improved work order management and skills-based dispatching.
Management commentary
Prakash Hariharan, president and chief executive officer, commented: "We are very pleased with the company's progress during the second quarter as artificial intelligence and machine learning continue to drive our growth. We are also very pleased to see new worldwide partners contracting with us for our CapitalCube content and are delighted to integrate Euclides's workflow analytics solutions to our artificial intelligence platform."