TORONTO, ONTARIO — (Marketwired) — 04/25/17 — Big Data Analytics company, AnalytixInsight Inc. (TSX VENTURE: ALY) (the “Company” or “AnalytixInsight”) is pleased to announce financial results for the fourth quarter and full year ended December 31, 2016.
Key Highlights:
Selected Financial Information
CapitalCube
CapitalCube now covers approximately 48,000 worldwide companies and 2,600 North American ETF–s. CapitalCube publishes approximately 3,200 articles daily on its blog and leading content distributors. Website traffic remained strong at approximately 3.8 million users and 6 million user sessions during the fourth quarter.
During the fourth quarter Euronext, the leading pan-European exchange in the Eurozone, agreed to distribute CapitalCube–s unique financial research to their clients beginning in 2017.
Financial Summary – Continuing Operations
Marketwall
As part of the implementation of the licensing and integration project with Intesa Sanpaolo S.p.A (“Intesa Sanpaolo”), Marketwall–s operating expenses increased from approximately $1.03 million in 2015 to $2.11 million in 2016.
The Company deconsolidated Marketwall during the fourth quarter, which has improved the Company–s operating performance and has resulted in a gain on deconsolidation of $816,265. AnalytixInsight now owns 49% of the equity of Marketwall. The overall Marketwall deconsolidation impact to the Company has resulted in a change from $0.46 million loss in 2015 to $0.55 million profit (including a one-time consolidation gain) in 2016.
Marketwall revenue for the year ended December 31, 2016 was $1,704,080 compared to $570,042 in 2015.
The Company expects Marketwall to complete its mobile banking and stock trading integration with Intesa Sanpaolo in the second half of 2017. Upon completion, Marketwall is expected to service approximately eight million of Intesa Sanpaolo–s mobile banking customers.
Upon the successful integration of the mobile platform and achievement of other milestones, the Company and Intesa Sanpaolo expect to jointly spin out Marketwall in 2018.
Euclides
As previously announced, the Company completed the asset purchase of Euclides, and announced its intention to develop products relating to workflow analytics. Euclides has annual revenues of approximately USD$4 million (approximately CAD$5.4 million), and at the end of the fourth quarter, Euclides had an order backlog of approximately USD$2 million.
Management Commentary
Prakash Hariharan, President & CEO, commented: “We are very pleased with development of the Company during 2016. The company enhanced its CapitalCube platform in response to the growing demand for its content. Significant investment was made in Marketwall–s licensing and integration project with Intesa Sanpaolo for roll out in 2017, and we completed the Euclides acquisition which will allow us to use our big data platform a new industry vertical – workflow analytics.”
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 () algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media.
The Company holds a 49% interest in Marketwall (), a mobile platform for banking and stock trading. The Company owns Euclides (), a workflow analytics systems integrator.
For more information about AnalytixInsight visit .
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 growth of the Company–s business operations; the Company–s ability to complete and roll-out the mobile-banking platform for Intesa Sanpaolo; the Company–s ability to spin out Marketwall, the use of the Company–s content by various parties; the performance of Euclides and the Company–s ability to operate in the work-flow analytics space; 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.
NEITHER 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.
Contacts:
AnalytixInsight Inc.
Scott Urquhart
VP Corporate Development
(416) 522-3975
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