Datametrex Announces AI and Tech Revenue
Rhea-AI Summary
Datametrex AI (TSXV:DM, OTC PINK:DTMXF) has reported strong financial performance in its AI and Tech division for the first half of 2024. The company achieved revenue of approximately $1.3 million with expenses of $821K, resulting in a gross profit margin of about 37% from its IT services in Korea. This success is attributed to Datametrex's 'deep and narrow' strategic approach and its 'land and expand' strategy with key clients in the services, finance, and public sectors. CEO Charles Park expressed pride in the company's progress and confidence in sustaining this positive trajectory to deliver greater value to shareholders and partners.
Positive
- Revenue of $1.3 million in the first half of 2024 from IT services in Korea
- Gross profit margin of approximately 37%
- Successful implementation of 'deep and narrow' and 'land and expand' strategies
- Strong partnerships with key clients in services, finance, and public sectors
Negative
- Expenses of $821K reported for the first half of 2024
News Market Reaction
On the day this news was published, DTMXF declined 47.44%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESSWIRE / August 28, 2024 / Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM)(FSE:D4G)(OTC PINK:DTMXF) is pleased to announce that it has achieved revenue of approximately
The success of the company's AI/Tech division is further highlighted by the continued execution of the Company's ‘land and expand' strategy, particularly with its key clients in the services, finance, and public sectors (see press release dated February 15, 2024). By focusing on strengthening and expanding these critical partnerships, Datametrex has demonstrated its commitment to delivering exceptional service and value to its clients.
Charles Park, CEO of Datametrex, commented, "We are incredibly proud of the progress Datametrex has made. This achievement reflects our strategic focus and the strength of our relationships with major clients. As we continue to build on this foundation, we are confident in our ability to sustain this positive trajectory and deliver even greater value to our shareholders and partners."
About Datametrex
Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, Healthcare, and Mobile Gaming. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes. With a commitment to innovation, Datametrex is dedicated to supporting enterprises by setting a new standard for business protocols through cutting-edge technology.
For more on Datametrex, please visit our YouTube channel and Company website.
For Additional Information
Charles Park, CFA
Chief Executive Officer & Director
cpark@datametrex.com
(416) 901-5611 x203
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.
Forward-Looking Statements
This news release contains "forward-looking statements," which involve risks, uncertainties, and factors that could cause actual results to differ materially from those anticipated. These statements are not historical facts and are generally identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," and similar expressions. Such statements include expectations related to game development and other Company plans.
While Datametrex believes the forward-looking information is reasonable as of the date of this release, these statements involve assumptions, risks, and uncertainties that could cause actual outcomes to differ. Key factors include general economic conditions, legislative and regulatory developments, access to capital, industry competition, and the Company's ability to execute its strategies. The Company does not undertake to update these statements, except as required by law. Readers are advised not to place undue reliance on forward-looking information.
Factors that could cause actual results to differ materially are detailed under "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023, available on the Company's profile at www.sedarplus.ca.
This release does not constitute an offer to sell or a solicitation to buy, nor shall it constitute an offer, solicitation, or sale in any jurisdiction where such would be unlawful prior to registration or qualification under applicable securities laws. We seek Safe Harbor.
SOURCE: Datametrex AI Ltd.
View the original press release on accesswire.com
FAQ
What was Datametrex's revenue from AI and Tech services in the first half of 2024?
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What were the expenses reported by Datametrex for its AI and Tech division in H1 2024?
