AnalytixInsight Reports Second Quarter 2021 Financial Results TORONTO, ON – August 30, 2021 – 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 Societ 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. | | |