TORONTO--(BUSINESS WIRE)--AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY), a financial content and enterprise software solutions provider, reports its financial results for the year ended December 31, 2022, and provides a corporate update including that of MarketWall, the Company’s 49%-owned fintech affiliate. The Company also announces the appointment of its Chief Operating Officer and reports MarketWall Q1 2023 record financial results.
Key Business Highlights:
- Developed unique AI-based sentiment analysis tools using proprietary algorithms and data mapping techniques to measure, analyze, and develop scores for unstructured data elements that influence stock price movements;
- Natalie Hirsch appointed Chief Operating Officer effective May 1, 2023;
- MarketWall license agreement with Intesa Sanpaolo increased consideration payable by Intesa Sanpaolo from 1.2 million to 4 million euros annually;
- Launched Morningstar Global Market, an innovative enterprise research and market data platform targeted for institutional users and marketed by Morningstar;
- Reconstituted InvestoPro board of directors to guide next phase of InvestoPro execution and implementation;
- Entered agreement with Samsung Electronics Italia to profile InvestoPro digital trading platform to Samsung users; and
- Approximately 75,000 machine-created company research reports have been published under the Refinitiv AI-driven research initiative.
Key Financial Highlights:
- For the three months ended March 31, 2023, MarketWall revenue was $2,671,151, and net profit was $1,093,731, which compares to revenue of $1,292,011 and net loss of $193,794 in the prior year comparable period and represents MarketWall’s strongest financial quarter to date;
- For the year ended December 31, 2022, AnalytixInsight revenue was $1,672,185 and net loss per share was $0.04;
- For the year ended December 31, 2022, MarketWall revenue was $6,138,176 and net loss was $309,243;
- For the year ended December 31, 2022, InvestoPro revenue was $445,700 and net loss was $1,160,692;
- AnalytixInsight’s ownership of MarketWall is 49% and thus MarketWall is not consolidated in AnalytixInsight’s financial results. MarketWall’s financial results include the consolidation of its wholly-owned subsidiary InvestoPro.
Management Commentary
“We made very good progress advancing our strategic relationships during 2022,” commented Prakash Hariharan, Chairman and CEO of AnalytixInsight. “During the year we announced new business initiatives with Samsung and Morningstar and strengthened our relationship with Intesa Sanpaolo. InvestoPro momentum is now building and MarketWall has posted record breaking financial results for the first quarter of 2023 on the back of the new recurring revenue license agreement with our bank partner. I also welcome Natalie Hirsch as COO of AnalytixInsight and look forward to the contribution of her leadership and industry experience across our business units.”
Appointment of Chief Operating Officer
Natalie Hirsch has been appointed Chief Operating Officer of the Company effective May 1, 2023. Natalie was formerly Vice President of Operations for Coinsquare Ltd., one of Canada’s largest crypto trading platforms. She is an experienced leader in operations management, cross-functional software implementation, broker dealer regulatory requirements, client onboarding, and crypto trading.
Subject to regulatory approval, the Company has granted 150,000 restricted share units (the “RSUs”) and 200,000 stock options to Ms. Hirsch in accordance with the Company’s restricted share unit compensation plan and stock option plan, respectively. The RSUs vest 12 months after grant and the options vest over a 24-month period based on the Company achieving certain milestones, as determined by the Chief Executive Officer of the Company. The options may be exercised at a price of $0.26 per option for a period of three years from the date of grant. If issued within a four-month period following the grant date, the common shares underlying the options are subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange.
MarketWall License Agreement Renewal
In February 2023, MarketWall executed a renewed product licensing and IT services agreement (the “Agreement”) with Intesa Sanpaolo, pursuant to which the latter agreed to pay MarketWall 4 million euros per year. The Agreement is in relation to licensing rights granted to Intesa Sanpaolo for the Intesa Sanpaolo Investo App, which was developed by MarketWall, and replaces a previous agreement under which Intesa Sanpaolo was paying MarketWall approximately 1.2 million euros per year. The Agreement is for an initial two-year term beginning January 1, 2023, plus a renewal option by Intesa Sanpaolo for a subsequent two-year term. Pursuant to the Agreement, Intesa Sanpaolo has paid to MarketWall the annual consideration for the first year.
InvestoPro
InvestoPro is the digital online stock trading platform launched by AnalytixInsight, MarketWall, and Intesa Sanpaolo through MarketWall’s wholly owned subsidiary, InvestoPro SIM S.p.A. InvestoPro SIM S.p.A. has developed its leading-edge platform, trade execution functions, and user applications in partnership with Intesa Sanpaolo.
InvestoPro EVO has been developed as a comprehensive version that offers online stock trading and fintech-enabled services on multi-device trading platforms (e.g., mobile, wearables, smart-TV) combined with research and financial education.
InvestoPro GO has been developed as a simplified version that has been purposefully designed for Samsung users in conjunction with InvestoPro’s agreement with Samsung Electronics Italia.
InvestoPro Samsung
InvestoPro SIM S.p.A. entered into an agreement with Samsung Electronics Italia in November 2022, pursuant to which Samsung agreed to profile the InvestoPro trading platform on Samsung’s Quick Access, the start page of the Samsung Internet Browser. Samsung has millions of monthly active Samsung Internet users who utilize Quick Access, which profiles clickable icons for leading brands to users each time they use their browser and allows users to easily reach partner websites.
Morningstar Global Market
During 2022, the Company launched Morningstar Global Market, an innovative enterprise research and market data platform targeted for institutional users of financial data and related investment products. Morningstar Global Market has been co-developed together with Morningstar as a cloud-based financial data and content offering for Morningstar’s enterprise clients.
Morningstar’s wide-ranging financial research information and market data is also made available to InvestoPro users.
CapitalCube
CapitalCube continues to develop sentiment analysis tools to measure and score unstructured data elements that influence stock price movements. These unstructured data elements include social media sentiment analysis, short interest scores, business relationship insights, news sentiment, and unique sentiment driven ESG scores. These sentiment analysis tools align with the Company’s strategy to build unique and disruptive AI and machine learning tools for the capital markets and wealth management industries to evaluate the recent proliferation of sentiment-driven trading and asymmetric behavioural responses to information flows, particularly that observed in social media.
Under the Company’s Refinitiv AI-driven research initiative, CapitalCube published 8,242 company research reports during the fourth quarter of 2022. Approximately 75,000 company research reports have been published under the Refinitiv initiative since October 2018. The Company believes its ability to generate machine-created research reports and AI-based fundamental financial analysis on virtually all publicly traded companies worldwide is a market differentiator for trading platforms within the industry, wherein we see both regulators and platform providers are seeking tools to automate the alignment of trading permissions that are matched with the investor’s risk appetite.
Euclides
AnalytixInsight’s Workforce Management division, Euclides Technologies, has entered a new relationship with a leading field service solutions provider which the Company anticipates will contribute a pipeline of projects expected to generate increasing revenue in 2023. Euclides Technologies is also advancing the development of zero-touch workforce management modules with data analytics and machine learning algorithms. The Company is undergoing a strategic review of this division considering the Company’s increasing focus within the fintech industry and expects this new business relationship and new product development to improve the business value of this division.
Complete details of the Company’s financial and operating results are available under the Company’s profile at www.SEDAR.com.
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight is a data analytics and enterprise software solutions provider to world-leading institutions across various industries. AnalytixInsight develops and markets cloud-based platforms providing financial content, stock trading, and research solutions for banks, brokers, and investors in the financial services industry. AnalytixInsight holds a 49% interest in MarketWall, a developer of fintech solutions for financial institutions. Visit AnalytixInsight.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 business operations and objectives, particularly respecting Samsung’s anticipated InvestoPro profile; the Company’s strategic review of its Workforce Management division which includes the revenue, business relationship and product development expectations of this division, particularly as they relate to the new business relationship; and the Company’s future performance. 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 statements 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, 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; the Company’s ability to successfully integrate new technologies and employees; foreign operations risks; Samsung’s and Intesa Sanpaolo’s willingness and ability to profile and recommend InvestoPro to its users; 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.
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
