Datametrex AI Limited (DM:TSXV) (D4G:FSE) (DTMXF: OTC) an AI and Machine learning company was well positioned with deep roots in South Korea to make the ultimate pivot to Covid-19 test kit distribution. When the Canadian Government came calling for assistance in importing and distributing COVID-19 test kits, Datametrex stepped up to the task thanks to its security clearances already in place in both countries.
Since then, the company has signed multiple multi-million dollar Covid-19 test kit supply agreements with mining companies, a $20M CAD agreement with the television and film industry and various educational institutions. This is in addition to lucrative AI contracts with various levels of government and enterprise level customers such as LOTTE Group, the fifth-largest conglomerate in Korea with annual revenues of approximately $60B USD.
REVENUE $CAD
- Q1 + 62% To $809,000
- Q2 + 419% To $1,954,000
- Q3 + 188% To $4,862,325
TOTAL Q1/Q2/Q3
REVENUE $7.6M vs $2.6M = +192%
GROSS PROFIT $2.3M vs $961K = +139%
Here’s the recent headlines:
- Completion of the IDEaS program Component 1b Milestone 4 (December 9, 2020)
- Recognized revenue of $7.6 million for first 9 months of 2020 (November 25, 2020)
- Datametrex Expands Distribution of Film and Television Coronavirus Testing Across Canada (October 27, 2020)
- Expands to Toronto Film Production Company for COVID-19 Testing Solutions (September 30, 2020)
- $20M Supply Agreement With Major Worldwide Media & Entertainment Company for COVID-19 (September 24, 2020).
- Received Third COVID-19 Order from TV Production Company (September 21, 2020)
- Received COVID-19 Test Kits Order for $1.6M From a Canadian Mining Company (September 3, 2020)
The demand for Covid testing is robust and well documented by the following:
- U.S. television productions stalled in Vancouver by bottleneck in COVID-19 testing Read More
As tweeted by Air Canada on November 22, 2020:
Prior to the global pandemic, leaders embraced advanced analytics and AI, for good reason. According to a 2018 study by the McKinsey Global Institute, entitled: Notes from the AI frontier: Applications and value of deep learning, these capabilities are estimated to have the potential to create between approximately $9.5 trillion and $15.4 trillion in annual global economic value.
The company’s wholly owned subsidiary Nexalogy also played a key technology support role in the #SeeSay2020 campaign to fight voter intimidation in this past USA election. The company’s AI technology allowed for cyber filtration to identify voter intimidation for elections related research.
The company has also experienced robust demand for related services. Datametrex entered into a sales agreement with 7-Eleven Korea for Robotic Process Automation infrastructure (RPA) in order to automate certain business processes.
The global RPA market size is expected to reach $7.2 billion by 2025, rising at a market growth of 32.6% CAGR during the forecast period. RPA is the technology that enables anyone to configure computer software today, or a “robot” to replicate and incorporate the actions of a person working within digital systems to conduct a business process.
Hub On AGORACOM / Corporate Profile
Tags: 1drop Inc., 7-Eleven, Covid Testing, covid19, CSE, datametrex, investments, Lighthouse Pictures Inc., Lotte, tsx, tsx-v