Datametrex Announces Record Full Year Financial Results with Revenue of $49 Million

  • Record revenue of over $49 million up 296%

  • Record adjusted EBITDA* of $15 million up 1,838%

  • Net profit of $9 million up 282%

  • Positive operating cash flow of $11 million up 2,025%

Toronto, Ontario–(Newsfile Corp. – May 2, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce the record achievement in the history of the Society. Datametrex has filed on SEDAR its financial statements (“FS“) and related management discussion and analysis (“MD&A”) for the results for the year ended December 31, 2021 (“Q4 2021”).

2021 Financial Summary

The company’s financial performance improved significantly in the fourth quarter, driven by growth in its core AI technology business and the adoption of its health security business involving COVID-19 testing services.

The company reported record revenue of $49 million, an increase of 296%, and net income of $9 million, an increase of 282%, from a loss of $5 million in 2020. EBITDA adjusted also improved significantly, $15 million in 2021, compared to negative $862,494 in 2020. 2020, an improvement of 1838%. This Adjusted EBITDA* reflects the Company’s operations, excluding non-cash items. The Company significantly improved its cash balance from $2 million to $15 million, up 681% from December 31, 2020. The Company also added more than $2 million in marketable securities to the balance sheet.

“The 2021 financial results reflect another strong period as the company successfully grows its core AI business and continues to accelerate in the telehealth and health security verticals,” said Marshall Gunter, CEO. of the society.

“We entered 2022 after a record 2021 year of positive revenue and cash flow. The momentum will only continue to build as we continue quarter over quarter. The company is focused on increased revenue with the continuation of government AI contracts and the launch of our telehealth app, “Medi-Call”, in the health security vertical. Future acquisitions will only further advance Datametrex as a leader in the industry and will continue to grow revenues,” said Andrew Ryu, company president.

The following financial information derived from the financial results ended December 31, 2021 and the management report (“MD&A”) is available for consultation on SEDAR.

Please refer to the entire Q4 2021 filing, which is available under the Datametrex profile at

Financial Highlights: Financial results for the twelve months ended December 31, 2021:

  • Revenue was $49 million, compared to $12 million for the same period in 2020, an increase of 296%.

  • The Company’s cash position has improved significantly; $15 million versus $2 million at the end of 2020.

  • The Company added more than $2 million in marketable securities.

  • The Company’s net profit was $9 million compared to a net loss of $5 million.

  • Gross margin was $21 million compared to $3 million the previous year, an increase of 604%.

The following table summarizes revenue, net loss, EBITDA* and adjusted EBITDA* for the years ended December 31, 2021 and 2020.

Unless otherwise stated, all figures are in Canadian dollars.

December 2021

December 2020

% Switch

Total revenue




Net income/(loss)




Tax expenditures




Net earnings (loss) per share – basic




Depreciation and amortization








Stock-based compensation




Adjusted EBITDA*




December 2021

December 2020

Change in dollars

Percent change

Total assets





Total responsibilities






The Company’s financial performance improved significantly in the fourth quarter. The company continues to focus and expand its AI business and expects significant growth in the electric vehicle vertical as well as continued expansion in telehealth with the launch of Medi-call.

  • In March of this year, the Company’s wholly-owned subsidiary, Nexalogy (“Nexalogy”) has successfully completed the first phase of its artificial intelligence contract with the Canadian government.

  • In November 2021, the company received a purchase order of up to $1 million from an electric vehicle charging platform company and is looking forward to entering the electric vehicle space this year.

  • The company officially entered the telehealth sector with the launch of its Medi-Call health app in April 2022 and started taking its first orders. Medi-Call will expand to in-person visits in the coming months. The company looks forward to expanding Medi-Call’s geographic footprint this year.

  • The company has seen an increase in demand for COVID-19 tests. This has led to a phenomenal growth in testing within the film and production industry. In March alone, the company performed 25,333 COVID-19 tests and continues to develop in this area.

About Datametrex

Datametrex AI Limited is a technology-driven company exposed to artificial intelligence and machine learning through its wholly owned subsidiary, Nexalogy ( Datametrex’s mission is to provide tools that help companies achieve their operational goals, including health and safety, with predictive and preventative technologies. By working with companies to establish a new standard of protocols through artificial intelligence and health diagnostics, the company provides progressive solutions to support the supply chain.

For more information about Datametrex and other company information, please visit the company’s website at

For more information:

Investor relations and communication
Kristina Colpitt
Telephone: 416-901-5611 ext. 204

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.

Forward-looking statements:

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors it deems appropriate in the circumstances. In addition, such statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that predictions, forecasts, projections and other forward-looking statements will prove to be inaccurate, some of which are beyond the control of the Company. In particular, there can be no assurance that the parties will be successful in negotiating and concluding a definitive agreement on mutually acceptable terms or in concluding the transaction in the manner contemplated herein, if at all, that the due diligence of either parties will be satisfactory, or that the parties will obtain the required approvals from the board of directors, shareholders, third parties and/or regulatory or governmental authorities, as the case may be. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unforeseen future events.


The Company has included non-IFRS performance measures throughout this press release, including (a) earnings before interest, taxes, depreciation and amortization (“EBITDA”); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on the change in fair value of the Company’s investment properties and the gain (loss) on the change in fair value of derivative instruments ; and (c) book value per share which is calculated as equity attributable to shareholders of Datametrex AI Limited divided by the total number of ordinary shares outstanding at the end of the reporting period. These non-IFRS financial measures do not have standardized meanings as prescribed by International Financial Reporting Standards (“IFRS”) and therefore are unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for performance measures prepared in accordance with IFRS. Management uses EBITDA measures to measure profit trends for business units and segments of the consolidated group as they eliminate the effects of financing decisions. Certain investors, analysts and others use these non-IFRS financial measures to assess the Company’s financial performance. These non-IFRS financial measures have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided in the Company’s MD&A, as applicable, filed under the Company’s profile on www.SEDAR.COM.


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