TORONTO, ONTARIO--(Marketwired - Aug. 24, 2016) - Big Data Analytics company, AnalytixInsight Inc. (TSX VENTURE:ALY) (the "Company" or "AnalytixInsight") is pleased to announce its financial results for the three and six month period ending June 30, 2016.
Second Quarter 2016 Financial Highlights
- Second quarter revenue increased approximately 20% over the previous quarter.
- Six month revenue of approximately $1.1 million, up 350% when compared to the same period last year.
- Improved gross margins and reduced net loss as demand for content continues to grow.
| Three months ended June 30 $ Canadian (unaudited) |
Six months ended June 30 $ Canadian (unaudited) |
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| 2016 | 2015 | 2016 | 2015 | |
| Revenue | 586,001 | 17,411 | 1,076,318 | 307,176 |
| Gross profit | 330,967 | (114,302) | 661,009 | (241,249) |
| Expenses | 746,264 | 678,624 | 1,563,116 | 1,328,812 |
| Net loss per share | (0.01) | (0.02) | (0.02) | (0.04) |
Please refer to the Company's unaudited condensed interim consolidated financial statements and corresponding management's discussion and analysis for the three and six month period ended June 30, 2016 available under the Company's profile at www.sedar.com.
Second Quarter 2016 Operational Highlights
- CapitalCube publishing has increased to approximately 3,000 auto-generated articles daily which is only approximately one third of total publishing capacity.
- CapitalCube traffic increased by more than 830% when compared to the same period last year and is now over 2 million unique visitors per month.
- Infrastructure expansion to accommodate CapitalCube traffic growth.
- Mobile device access on CapitalCube is growing strongly and is a significant driver of business.
- Continued investment in MarketWall initiatives in advance of recently announced contracts (approximately CAD$2 million) with Intesa Sanpaolo in addition to the multi-year licensing partnership.
Management Commentary
"We are very pleased with the revenue growth and user growth of our platform as demand for content providers in the FinTech space continues to grow," said Prakash Hariharan, President & CEO. "CapitalCube has grown quickly, and during the second quarter we added infrastructure capacity to accommodate the significant increase in traffic that we are experiencing. We are continually adding new features and system improvements for our clients and we recently loaded Canadian ETFs on the platform. Our investment in MarketWall initiatives also increased this quarter as we prepare for the Q1 2017 rollout to Intesa Sanpaolo customers and the completion of their mobile-banking platform development."
CapitalCube now covers approximately 50,000 listed global companies and North American ETFs and attracts over 2 million unique visitors per month. Approximately 3,000 daily content articles ranging from unique earnings analysis to technical trading indicators are published through leading distribution partners such as Yahoo! Finance and The Wall Street Journal.
MarketWall recently announced an approximately CAD$2 million contract to develop a mobile-banking platform for Intesa Sanpaolo which is expected to be completed in 2016. This is in addition to the previously announced multi-year licensing partnership valued at approximately CAD$10 million over five years to rollout a custom version of the MarketWall App to Intesa Sanpaolo's approximately 20 million retail customers.
On behalf of the Board of Directors of ANALYTIXINSIGHT INC.
Prakash Hariharan
Chairman
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc.'s technology platform helps transform data into narratives. The Company's online portal CapitalCube and mobile platform MarketWall provide high-quality financial research and content for investors, information providers, finance portals and media. The Company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs - all available as a cloud-based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports. www.analytixinsight.com
CapitalCube and MarketWall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit www.capitalcube.com. For more information about MarketWall visit www.marketwall.com.
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 Company's ability to increase traffic to its CapitalCube portal; the Company's ability to continue to improve its infrastructure; the growth of the Company's business operations; the Company's ability to complete the mobile-banking platform for Intesa Sanpaolo; the use of the Company's content by various parties; and the use by certain parties of CapitalCube and MarketWall App. 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 state 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 Inc., 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; ability to successfully integrate new technology 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.
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Contact Information:
+1.403.262.9888