AnalytixInsight Reports First Quarter 2022 Financial Results and Announces Changes to MarketWall Board of Directors

Rhea-AI Summary

AnalytixInsight Inc. (ATIXF) announced financial results for Q1 2022, reporting a revenue decrease to $454,724 from $953,328 year-over-year. The company appointed Luca Facchini Provera as chairman of MarketWall, aiming to enhance growth. MarketWall's consolidated revenue increased 33% to $1,292,011, but net loss was $193,794, influenced by InvestoPro's development costs. Key developments include the launch of the Morningstar Global Market and deployment of GEMINA at a second European bank. AnalytixInsight published 6,780 research reports during the quarter.

Positive

• MarketWall's consolidated revenue increased by 33% to $1,292,011.
• Launch of Morningstar Global Market as a cloud-based research platform.
• GEMINA is now utilized by a second leading European bank.
• Development of sentiment analysis tools to assess market influences.

Negative

• AnalytixInsight's revenue decreased to $454,724 from $953,328 year-over-year.
• MarketWall's net loss was $193,794, indicating ongoing financial pressure from InvestoPro.

TORONTO--(BUSINESS WIRE)-- AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), a financial content and enterprise software solutions provider, reports financial results for the quarter ended March 31, 2022, and announces the appointment of Luca Facchini Provera as chairman of the Company’s FinTech affiliate, MarketWall.

Key Highlights:

• Luca Facchini Provera is appointed chairman of MarketWall to guide the next phase of growth. He has strong wealth management expertise and is Senior Director, Head of Sales Support at Intesa Sanpaolo Banca dei Territori Division. He is responsible for commercial support of financial products to the retail network and the wealth management project with BlackRock. He was previously responsible for the marketing of investment products and the support of securities brokerage in the branch networks;
• Launched Morningstar Global Market together with Morningstar as a GEMINA-powered, cloud-based research and market data offering for enterprise clients;
• Announced that GEMINA, a multi-device B2B trading platform for banks and brokers, is now utilized by a second leading European bank, which has over 100,000 employees, under the Morningstar Global Market initiative;
• The Company now expects GEMINA to be licensed by a third European financial institution and platform enhancements for this client commenced during the quarter;
• Announced Morningstar’s wide-ranging financial research information and market data will now be available on InvestoPro, MarketWall’s digital online stock trading platform;
• Developed sentiment analysis tools to measure and score unstructured data elements that influence stock price movements such as social media sentiment, short interest, business relationships, news, and more; and
• Published 6,780 research reports under the Refinitiv AI-driven research initiative during the quarter.

Q1 2022 Key Financial Highlights:

• AnalytixInsight’s revenue for the first quarter ended March 31, 2022, was $454,724 which compares to $953,328 for the prior year comparable period. Net loss per share for the quarter was $(0.01) which compares to $(0.01) for the prior year comparable period;
• MarketWall consolidated financial results are comprised of MarketWall and InvestoPro. MarketWall consolidated revenue for the quarter increased by 33% to $1,292,011 (MarketWall $1,292,011, InvestoPro $0) when compared to $974,641 for the prior year period. MarketWall consolidated net loss for the quarter was $193,794 (MarketWall net income $336,263, InvestoPro net loss $530,057) which compares to net loss of $259,243 for the prior year comparable period and reflects InvestoPro development and start-up costs. AnalytixInsight’s ownership of MarketWall is 49% and thus not consolidated in AnalytixInsight’s financial results.

MarketWall Board of Directors

MarketWall has appointed Luca Facchini Provera as chairman and director to help guide the next phase of MarketWall’s growth. Luca Facchini Provera is Senior Director, Head of Sales Support at Intesa Sanpaolo Banca dei Territori Division. He brings over 30 years of experience in the banking sector and has strong wealth management expertise. He is responsible for commercial support of financial products to the retail network and is responsible for the Robo4Advisory & RoboAdvisory project, a wealth management initiative within Intesa Sanpaolo’s 2022 – 2025 business plan using Aladdin by BlackRock. He was previously responsible for the value proposition to the affluent client market segment as well as the marketing of investment products and the support of securities brokerage in the branch networks. He also serves on the board of directors of Prestitalia S.p.A., which was acquired by Intesa Sanpaolo in 2020. In conjunction with this appointment, Massimo Tessitore has resigned as director.

The board of directors of MarketWall now consists of Luca Facchini Provera, Marco Roscio Ricon, CEO of MarketWall, and Prakash Hariharan, Chairman and CEO of AnalytixInsight. The Company also expects pending changes in the board of directors of MarketWall’s subsidiary, InvestoPro.

Management Commentary

During the quarter, the Company announced the launch of 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 is built on MarketWall’s GEMINA application and is designed as a cloud-based solution. This is the initial product offering under the partnership, where Morningstar is anticipated to utilize MarketWall’s technology platform to bring a comprehensive suite of innovative and cost-effective cloud-based FinTech products to market in response to the growing demand from its enterprise clients.

During the quarter, the Company announced that its white-label trading platform, GEMINA, is now deployed at a second European bank, which has over 100,000 employees, under the Morningstar Global Market initiative.

The Company now expects GEMINA to be licensed by a third European financial institution and GEMINA platform enhancements for this client commenced during the quarter. If completed, the Company expects this license agreement to be the largest GEMINA customer signed to date.

During the quarter, the Company announced that as part of the recently-launched Morningstar Global Market initiative, Morningstar’s wide-ranging financial research information and market data will now be available on InvestoPro, the digital online stock trading platform launched by MarketWall and Intesa Sanpaolo.

During the quarter, the Company developed 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 more.

During 2021, the InvestoPro board of directors approved a strategic plan wherein certain accounts are to be transitioned to InvestoPro, thanks to the support of Intesa Sanpaolo. The Company is collaborating with the MarketWall board of directors to advance the previously approved strategic plan.

AnalytixInsight’s Workforce Management division, Euclides Technologies, is undergoing a strategic review considering the Company’s increasing focus within the FinTech industry.

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 MarketWall’s plans to migrate certain Intesa Sanpaolo stock trading accounts to the InvestoPro platform; changes to the InvestoPro board of directors, the Company’s strategic review of its Workforce Management division; the impact of sentiment analysis tools developed by the Company; the completion and size of a GEMINA licensing agreement with a third European financial institution; Morningstar’s anticipated future use of MarketWall’s technology platform; 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; 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220530005411/en/

Scott Urquhart

VP Corporate Development

Scott.Urquhart@AnalytixInsight.com

Tel: (416) 522-3975

Source: AnalytixInsight Inc.

FAQ

What were AnalytixInsight's financial results for Q1 2022?

AnalytixInsight reported Q1 2022 revenue of $454,724, decreased from $953,328 in the same period last year.

Who was appointed chairman of MarketWall?

Luca Facchini Provera was appointed chairman of MarketWall, bringing extensive wealth management experience.

What is the significance of the Morningstar Global Market launch?

The Morningstar Global Market is a cloud-based research platform aimed at institutional users, enhancing the company's product offerings.

How did MarketWall perform in Q1 2022?

MarketWall's consolidated revenue increased by 33% to $1,292,011, despite a net loss of $193,794.

What developments occurred regarding GEMINA in Q1 2022?

GEMINA was deployed at a second leading European bank and is expected to be licensed by a third financial institution.