Datametrex Generates over $1 Million Revenue in December for IT Services

Rhea-AI Summary

Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) recorded over $1 million CAD in revenue with expenses of approximately $650K CAD, resulting in a gross profit margin of approximately 36% for IT services in December. The company's 'deep and narrow' strategy has led to a 'land and expand' approach with major clients like LOTTE, fortifying existing partnerships and enabling expansion into new areas. Datametrex Korea's expansion into new industries, such as energy and finance, demonstrates its capability to cater to diverse market demands, positioning it for positive momentum in 2024.

Toronto, Ontario--(Newsfile Corp. - January 11, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the 'Company' or 'Datametrex') is pleased to announce that it has recorded over $1 million CAD in revenue with expense of approximately $650K CAD at a gross profit margin of approximately 36% for IT services in December, through its wholly-owned subsidiary, Datametrex Korea. This performance not only reflects the company's progress and adaptability in a dynamic market environment, but underscores the effectiveness of the Company's 'deep and narrow' strategy.

The December revenue is a result of the Company's 'land and expand' strategy with major clients like LOTTE. This approach has not only fortified existing partnerships but also enabled expansion into new areas within these large organizations.

Additionally, Datametrex Korea's expansion into new industries, such as acquiring clients in the energy sector and the finance sector, demonstrates its capability to cater to diverse market demands. These developments underscore the potential for Datametrex Korea to maintain its positive momentum heading into 2024.

About Datametrex

Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, and Healthcare. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes on a global scale. For more on Datametrex, please visit the company's website.

Investor Relations
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

All statements in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements, including but not limited to the proposed spin-out transaction. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193848

FAQ

What was Datametrex AI Limited's revenue in December?

Datametrex AI Limited recorded over $1 million CAD in revenue in December.

What were the expenses for Datametrex AI Limited in December?

The expenses for Datametrex AI Limited in December were approximately $650K CAD.

What was the gross profit margin for Datametrex AI Limited's IT services in December?

The gross profit margin for Datametrex AI Limited's IT services in December was approximately 36%.

What is the 'deep and narrow' strategy mentioned in the PR for Datametrex AI Limited?

The 'deep and narrow' strategy refers to the company's approach focusing on specific areas and then expanding within those areas.

Which major client did Datametrex AI Limited work with in December?

Datametrex AI Limited worked with major clients like LOTTE in December.

In which new industries did Datametrex AI Limited's subsidiary, Datametrex Korea, expand in December?

Datametrex Korea expanded into new industries such as energy and finance in December.

What does the expansion into new industries demonstrate for Datametrex Korea?

The expansion into new industries demonstrates Datametrex Korea's capability to cater to diverse market demands.

What is the potential outlook for Datametrex Korea heading into 2024?

The developments underscore the potential for Datametrex Korea to maintain its positive momentum heading into 2024.