MEMEX closed on Canada Day
MEMEX will be closed on Friday, 1st July 2022 to observe Canada Day.
Normal hours will resume Monday, 4th July 2022.
MEMEX will be closed on Friday, 1st July 2022 to observe Canada Day.
Normal hours will resume Monday, 4th July 2022.
BURLINGTON, ON / ACCESSWIRE / May 26, 2022 / Memex Inc. (“Memex” or the “Company”) (TSX-V:OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, released financial and operational highlights for its second quarter ending March 31, 2022. All results are reported in Canadian dollars. A complete set of its March 31, 2022 Condensed Interim Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.
“Delays in customer deliveries affected our top-line revenue and overall results,” said Memex CEO David McPhail. “However, we have re-organized our service delivery process, better positioning the Company to return to profitability. More prospects and customers are investigating onshoring strategies and enquiring about how Memex can improve potential future costs.”
For the
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Three-months periods ended
March 31
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Six-months periods ended
March 31
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(Canadian dollars – in thousands except per share and margin%)
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2022 | 2021 | Change | 2022 | 2021 | Change | ||||||||||||||||||
Revenue
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473 | 878 | – 46 | % | 974 | 1,448 | – 33 | % | ||||||||||||||||
Bookingsi
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425 | 867 | – 51 | % | 1,385 | 1,345 | + 3 | % | ||||||||||||||||
Gross margin %
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66.5 | 83.1 | – 20 | % | 71.8 | 80.6 | – 11 | % | ||||||||||||||||
Operating expenses
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558 | 544 | + 3 | % | 1,085 | 1,077 | + 1 | % | ||||||||||||||||
Cash provided (utilized) in operations1
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(197 | ) | 194 | – 202 | % | (328 | ) | 109 | – 401 | % | ||||||||||||||
Net & comprehensive income (loss) – period
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(279 | ) | 141 | – 298 | % | (457 | ) | 11 | – 4255 | % | ||||||||||||||
Basic & diluted income (loss)/share – period
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(0.002 | ) | 0.001 | – 290 | % | (0.003 | ) | 0.000 | – 3833 | % |
As at
(Canadian dollars – in thousands except WC ratio)
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March 31, 2022 | September 30, 2021 | ||||||
Cash on hand
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$ | 578 | $ | 709 | ||||
Current assets
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968 | 1,139 | ||||||
Total assets
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1,336 | 1,569 | ||||||
Current liabilities
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1,926 | 1,305 | ||||||
Working capital* (excl. unearned rev)
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224 | 709 | ||||||
Working capital ratio**
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1.3 to 1 | 2.65 to 1 | ||||||
Backlogii
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$ | 933 | $ | 515 |
* Working Capital = current assets – current liabilities less unearned rev
** Working Capital ratio = current assets / current liabilities less unearned rev
Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.
Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge’s manufacturers face. We made it our mission to, “successfully transform factories of today into factories of the future.” As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”
The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com
Ed Crymble, Chief Financial Officer
905-635-1540 |
David McPhail, President & CEO
905-635-1540 |
Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com
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.
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i & ii These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the periods ended March 31, 2022, and 2021, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.
MERLIN Tempus provide this level of comprehensive flexibility right out of the box. The ability of a system to infer a state based on occurring states and standards removes a level of operator dependence. The antiquated operator-centric data collection approach is inherently inaccurate because events are recorded after the fact and are usually very subjective. Realtime operator classifications of machine impacting states are faster, simpler, controlled and accurate because the machine initiates the state change based on an autonomous event and applied logic.
MEMEX, with its visionary attitude, has been on the leading-edge of the convergence of the industry trends in Computing Power, Connectivity of Machines, Industry Standards, Advanced Software Technology, and Manufacturing Domain Expertise. MEMEX is the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in real-time.
Memex Inc.
880 Laurentian Drive – Unit #2
Burlington, Ontario L7N 3V6
Canada
905-635-1540 (Main Line)
866-573-3895 (Toll Free)
sales@memexOEE.com