- Datametrex AI Ltd. (DM) signed a COVID-19 testing service agreement with a major media and entertainment company in September 2020
- Today, the company announced that projected revenue of $26 million for the first nine months has exceeded its previous revenue guidance of $20 million
- Datametrex now anticipates that the agreement will generate up to $50 million for the full fiscal year
- Datametrex AI is a technology-focused company with exposure to artificial intelligence and machine learning through its wholly-owned subsidiary, Nexalogy
- Datametrex AI Ltd. (DM) is currently up 2.63 per cent, trading at $0.195 per share
Datametrex AI Ltd. (DM) signed a COVID-19 testing service agreement with a major media and entertainment company in September 2020.
Today, the company announced that the projected revenue on the project has exceeded its previous revenue guidance.
Based on discussions when signing the agreement, Datametrex management anticipated that the aggregate dollar amount of revenue was expected to be around $20M for the initial nine months.
The company has recorded revenue of approximately $26 million for the first nine months of the agreement, exceeding expectations and showcasing the company’s ability to meet this need.
Given the increased demand around COVID-19 testing for new and returning shows, Datametrex now anticipates that the agreement will generate up to $50 million for the full fiscal year.
Marshall Gunter, CEO of Datametrex, commented on the exciting update.
“We are thrilled to exceed the anticipated target,” he said. “Datametrex remains committed to the film industry in Canada to help ensure the health and safety of the individuals working on sets and in production offices.”
Datametrex AI is a technology-focused company with exposure to artificial intelligence and machine learning through its wholly-owned subsidiary, Nexalogy.
The company’s mission is to provide tools that support companies in fulfilling their operational goals, including health and safety, using predictive and preventive technologies.
Datametrex AI Ltd. (DM) is currently up 2.63 per cent, trading at $0.195 per share as of 9:55 am ET.
