Datametrex Posts Q1 Revenue Of $19.0 Million, Net Income Of $9.6 Million

Datametrex AI (TSXV: DM) this morning reported its first quarter 2021 financial results, a quite frankly blew away expectations. The company reported record revenue of $19.0 million, a 2,253% increase year over year, along with net income of $9.6 million for the three month period.

Datametrex AI's Logo

Record revenues for the company were largely comprised of COVID-19 test kit revenue, which amounted to $18.6 million for the quarter, while AI and tech related revenue came in at $0.5 million for the three month period. Gross profits meanwhile totaled out to $10.9 million, indicating that the company continues to maintain strong margins.

Expenses for the quarter meanwhile amounted to $4.7 million, with the largest expense being share based compensation at $3.3 million, followed by salaries, benefits and consulting fees of $0.8 million. Following an unrealized gain on marketable securities of $4.3 million, the company posted a net income of $9.6 million for the three month period. Adjusted EBITDA amounted to $10.7 million.

“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.”

Andrew Ryu, Chairman of Datametrex

Datametrex last traded at $0.30 on the TSX Venture.


FULL DISCLOSURE: DataMetrex AI Limited is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover DataMetrex AI Limited on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Datametrex Secures Rights To Sell And Distribute Rapid COVID-19 Antigen Test Kits

Datametrex AI (TSXV: DM) this morning announced that it has secured the rights to sell...

Wednesday, August 12, 2020, 09:27:09 AM

Datametrex Acquires Rights To Sell COVID-19 Home Test Kit

Datametrex AI (TSXV: DM) this morning had significant news in that it has secured the...

Tuesday, June 16, 2020, 08:15:19 AM

BRIEF: A Glance at Datametrex AI’s Share Structure

Datametrex AI Limited (TSXV: DM) had an excellent trading day yesterday. After an early morning...

Tuesday, December 19, 2017, 08:00:05 AM

Datametrex Secures Further Purchase Orders From Lotte Group, Samsung

Datametrex AI (TSXV: DM) evidently knows how to keep its clients happy. The firm this...

Thursday, January 6, 2022, 07:43:33 AM

Datametrex Raises COVID-19 Test Kit Guidance To $50 Million For 2021 From Single Client

In a rare move within the small cap space, Datametrex AI (TSXV: DM) has provided...

Tuesday, September 14, 2021, 07:55:56 AM