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Record Q1 Revenue of $19.04 Million up 2,253%
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Record Adjusted EBITDA of $10.68 Million up 1,548%
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Net Earnings of 9,560,351 up 1,425%
Toronto, Canada--(Newsfile Corp. - May 31, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to report the record achievement in the history of the Company. Datametrex has filed on SEDAR its financial statements ("FS") and related management discussion and analysis ("MD&A") for the three-month financial results ending March 31, 2021 ("Q1 2021").
Q1 2021 Financial Summary
The Company's financial performance immensely improved in the first quarter, attributed by growth across its COVID-19 sales and its related services with the film and production industry and uptake in its health technology business.
The Company reported record revenue of $19,045,888, 2,253% increase, and net earnings of $9,560,351, 1,425% increase, compared to Q1, 2020. Adjusted EBITDA also improved significantly $10,684,254 in Q1 2021 up 1,548% compared to ($737,698) in Q1 2020. This Adjusted EBITDA reflects the Company's operations, not including non-cash items. The Company also significantly improved its cash balance, up 17,044% from Q1 2020.
The following is selected financial information for the three-month financial results ending March 31, 2021, along with comparative results. Please refer to the Q1 2021 Filing in its entirety, which is available under Datametrex's profile at www.sedar.com.
"The Company's first-quarter results reflect another record period of strong execution as we continue to build an integrated health technology company," commented Marshall Gunter, CEO of Datametrex.
"We have entered 2021 coming off a record 2020 year in revenue and this trend will only continue to improve quarter over quarter as we focus on increasing our revenue channel with strategic funding of our sales and operations teams to drive business. Additionally, any future acquisitions in the pipeline will accelerate the development of our health technology business steering expansion efforts that will help accelerate our ability to continue to increase our revenue," said Andrew Ryu, Chairman of the Company.