Memex Inc. Releases Q2 – 2016 : Results Investment in Sales Infrastructure Paying Off

Burlington, ON, Canada – May 16, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its second quarter of fiscal 2016 which ended March 31, 2016. All results are reported in Canadian dollars.

Financial Highlights for the Second Quarter Ended March 31, 2016:

·         Memex generated quarterly revenue of $571 thousand, 42% or $169 thousand, higher than the same period in the prior year, and 7% lower than Q1-2016.

·         Memex 53.4% gross margin for the quarter ($305 thousand in gross profit), was down 3.3% from the same quarter a year ago and 7.7% from Q1-2016. A higher hardware to software sales mix in the current quarter accounts for the decline.

·         Unearned revenue of $536 thousand closed the quarter up $54 thousand from December 31, 2016’s close and was $46 thousand off its highest level of $582 thousand at September 30, 2015.

·         Bookings[i] for the quarter were $833 thousand, down 5% from the prior quarter, but up 50% or $276 thousand from Q4-2015.

·         The Company showed a $991 thousand net and comprehensive loss for the quarter equating to a $0.01 loss per share.  This compares with a $512 thousand net and comprehensive loss in the same quarter last year, and a $0.007 loss per share.

·         At the end of the Q2 the Company had more than $3.0 million in current assets including more than $2.2 million in cash and $2.1 million in working capital.

 

Q2 Fiscal 2016 and Subsequent Operational Highlights:

  • In February, Memex received a substantial follow-on order from Kuss Filtration Inc. for 43 MERLIN licences as part of a multi-plant roll-out in the US, China, and Brazil. Memex also generated 5 new customer orders, and more than ten follow on orders from existing customers in the quarter.
  • Memex’s CEO and CTO were recognized by Smart Manufacturing Magazine as two of the top 30 advanced manufacturing visionaries.
  • In April, Memex launched MERLIN OPTime, a free downloadable real-time dashboard for manufacturing analytics.
  • In April, Sun Hydraulics Corp. placed an 89 machine follow-on order for MERLIN MES Enterprise Edition Software, after an 11 machine initial phase.

 

Management Commentary:

Memex’s President & CEO David McPhail said, “We continue to see strong interest in MERLIN with both follow-on orders from existing customers and new customers buying our solutions. Our investment into sales and marketing is paying off with substantial revenue gains over prior periods, and no reason not to expect the trend to continue.”

 

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

 

For investor inquiries please contact:

 

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

Sean Peasgood, Investor Relations

416-565-2801

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.

[i] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the three and six month periods ended March 31, 2016 and 2015, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

Memex Inc. (OEE) has Products Revolutionizing the Industrial Internet of Things

Stephen L Kanaval |

Overall Equipment Effectiveness is maybe not a phrase you hear that often, but if you manage a shop or a work site, you know exactly what it means. It means that your machines on your floor are running at peak performance. Memex Inc. (OEE) understands this so well that they made it their stock symbol. So, how does Memex do this? The company has created a manufacturing execution system called MERLIN OEE. The MERLIN OEE system is connected directly to the machines on the floor and offers live results and a constantly updating dashboard of metrics. Memex’s MERLIN OEE is all about a company using the machines that they have and making them better by finding the hidden areas of profit loss.

The creation of this unique system has allowed Memex to have four straight quarters of revenue growth. Meme produced a gross margin of $375,000, which was 27% higher than the same quarter in 2015 (cited from press release here). The industrial internet of all things is coming, and if you read Equities.com frequently you know that there are disruptive products out there. Memex is one of these companies that understands how to bridge the last twenty years with the next fifty years. The MERLIN OEE takes older machines and adapts them with software and shows areas where the machine can be improved. These analytics can save companies a lot of money. As a matter of fact here is what Memex says about that:

MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines

Memex has important alliances with Cisco and Mazak. In addition, the MERLIN OEE has been proven in plants like Milwaukee Tool, Magellan Aerospace, Aero Pacific, and many more. And just think, there are over 16 million Computerized Numerical Control (CNC) machine tools installed world wide, what do you think Memex could do for all those companies with its machine monitoring software?

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

 

To see the article please click here

How the Industrial Internet of Things is Revolutionizing Manufacturing

We live in a data-driven society where we’re constantly connected to each other. Now the Internet of Things (IoT) is connecting “things” together. But one industry lags when it comes to connecting “things”. Most industrial plant managers, CEOs and CFOs don’t know what’s happening on their shop floors since their manufacturing machines are “islands of automation” that aren’t connected to each other, or able to report on their productivity in real-time. One public Canadian company has solved this problem. Leading manufacturers are purchasing this company’s “industrial” IoT, or IIoT, solution and seeing significant returns with an average Internal Rate of Return of 300%, which means payback in 4 months or less. Manufacturers aren’t the only ones recognizing this company; Cisco Systems and Mazak Corporation have formed alliances with it to conquer the IIoT opportunity.

Why You Need to Read this Report

  1. Discover the Industrial Internet of Things (IIoT), and find out how big the long-term market opportunity could be – hint: not “billions” but “trillions”;
  2. Learn how manufacturing evolved from hand tools to big data on machine shop equipment;
  3. Unearth established technologies that will benefit from the next industrial revolution;
  4. We reveal ways for investors to get exposure to IIoT, including a public Canadian company that not only is selling products but has also recently formed an alliance with a tech giant and one of the world’s biggest machine tool manufacturers, and;
  5. We look at some real world case studies and quantify the operational and financial benefits from adopting IIoT.

To read the full report, please click here.

BNN News: MEMEX praised in feature on investing in Canadian tech companies

Canadian technology is “top shelf” with strength in B2B solutions and services, according to Colin Fisher, President and Portfolio Manager, Stableview Asset Management. BNN narrows the focus to Small-Cap Canadian tech and investing opportunities in the sector. Fisher offers his views on TECSYS Inc., VersaPay Corp. and MEMEX Inc. MEMEX appears at 6:22. Click here for video.

No Machine Left Behind – Analyst View of IIoT and MEMEX

No Machine Left Behind

How the Industrial Internet of Things is Revolutionizing Manufacturing.

March 3, 2016 – Sophic Capital – Sean Peasgood & Marcel Valentin

We live in a data-driven society where we’re constantly connected to each other. Now the Internet of Things (IoT) is connecting “things” together. But one industry lags when it comes to connecting “things”. Most industrial plant managers, CEOs and CFOs don’t know what’s happening on their shop floors since their manufacturing machines are “islands of automation” that aren’t connected to each other, or able to report on their productivity in real-time. One public Canadian company has solved this problem. Leading manufacturers are purchasing this company’s “industrial” IoT, or IIoT, solution and seeing significant returns with an average Internal Rate of Return of 300%, which means payback in 4 months or less. Manufacturers aren’t the only ones recognizing this company; Cisco Systems and Mazak Corporation have formed alliances with it to conquer the IIoT opportunity.

To see the full article please click here

Memex Inc. Grants Share Options

Burlington, ON, Canada – February 29, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces that, effective Friday, February 26, 2016, it has granted an aggregate of 480,000 share options to four directors of the Company. The share options are exercisable at a price of $0.14 per share and vest over the next three years. One-third vested immediately upon grant, another third vest on February 26, 2017 and the remaining third vest on February 26, 2018. The share options expire on February 26, 2021.

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO, Memex Inc.

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer, Memex Inc.

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

Sean Peasgood, Investor Relations, Sophic Capital

416-565-2801

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.

Memex Inc. Releases Q1 – 2016 Results with Fourth Consecutive Quarter of Revenue Growth

Burlington, ON, Canada – February 22, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its first quarter of fiscal 2016 which ended December 31, 2015. All results are reported in Canadian dollars.

Financial Highlights for the First Quarter Ended December 31, 2015:

  • Memex generated record quarterly revenue of $614 thousand, $113 thousand higher than the same period in the prior year, and 7% higher than the fourth quarter of 2015. The Company also marked its fourth consecutive quarter of revenue growth.
  • Memex produced gross margin of $375 thousand, 27% higher than the same quarter in the prior year.
  • Unearned revenue of $482 thousand closed the quarter down $100 thousand from the Company’s record high of $582 thousand at the end of Q4-2015.
  • Memex’s sales force turned in $876 thousand in product bookings[i] for the quarter, 58% or $320 thousand more than Q4-2015.
  • The Company showed a $641 thousand net and comprehensive loss for the quarter equating to a $0.007 loss per share. This compares with a $461 thousand net and comprehensive loss in the same quarter last year, and a similar $0.007 loss per share.

Q1 Fiscal 2016 and Subsequent Operational Highlights:

  • Memex bolstered its sales and marketing infrastructure with the addition of a VP Marketing and three new US-based sales representatives. In January 2016 the Company also added a Director of Manufacturing Excellence to accelerate MERLIN adoption by larger high-potential existing customers.
  • On October 27-29 and November 3-5 at DISCOVER 2015 (Mazak Corporation’s Technology and Education event), MERLIN software along with hardware from information technology (IT) leader Cisco Systems, Inc. was showcased in an industry-first collaborative platform called SmartBox. The launch took place in front of metalworking managers and C-level executives. The co-promotion with Mazak and Cisco led to multiple media stories, blogs, and videos mainly in manufacturing trade press.
  • In December Memex received significant new orders from Aero Pacific Corporation in Placentia, CA. (30 MERLIN licenses and 28 MTConnect hardware adapters), and Homeyer Precision Manufacturing Co. in Marthasville, MO (23 licenses and 9 hardware adapters).
  • On January 18th, Memex was profiled in the National Post’s Entrepreneur section with the headline “Memex wins over industry giants.” The article explained how eight focused years of work on strategic partnerships resulted in successes with multinational giants Cisco and Mazak.
  • In February Memex received a substantial follow-on order from Kuss Filtration Inc. for 43 MERLIN licences as part of a multi-plant roll-out in the US, China, and Brazil. 

Management Commentary:

Memex’s President & CEO David McPhail stated, “The Industrial Internet of Things, or IIoT, represents the next industrial revolution, and Memex’s flagship software product MERLIN is planted squarely in the middle of this manufacturing mega-trend. Our latest quarterly results, representing our fourth consecutive quarter of growth strongly indicate that manufacturers around the world see the value of our unique combination of industrial connectivity and analytics to drive productivity and profit. I want to thank our customers for their trust and our employees for their hard work to achieve these results.”

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.com

Sean Peasgood, Investor Relations

416-565-2801

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.

[i] This non-IFRS financial measure is identified, defined and reconciled to the closest IFRS measure, revenue, within our Management’s Discussion and Analysis for the three month periods ended December 31, 2015 and 2014, in the section “Other Financial Measures.” That MD&A is available at www.sedar.com under our company profile.

MEMEX Engages Sophic Capital for Capital Markets Services

BURLINGTON, ON – (January 11, 2016) ­­– MEMEX Inc. (MEMEX) (TSX VENTURE: OEE) announced today it has appointed Sophic Capital Inc. (Sophic Capital) as its Investor Relations (IR) firm. Sophic Capital is a comprehensive capital markets advisory firm for companies in the technology sector, and will focus on increasing investor awareness of MEMEX by developing a relevant communications strategy and introducing MEMEX to appropriate investment advisors, investment dealers, institutions and other financial professionals.

“We welcome Sophic Capital as our new IR partner to tell our story to its extensive base of institutional and retail investors,” said David McPhail, CEO of MEMEX. “Leading with our flagship software product, the MERLIN shop-floor-to-top-floor communications platform, MEMEX achieved 115% revenue growth in 2015. In 2016, we look forward to leveraging Sophic’s capital markets expertise to help communicate our growth strategy and Industrial Internet of Things (IIoT) technology roadmap to the entire investment community.”

“We are thrilled that MEMEX has selected Sophic Capital to execute its capital markets and investor relations strategies,” said Sean Peasgood, CEO of Sophic Capital. “According to research firm IDC, the Internet of Things market for manufacturing operations will grow to $98.8 billion by 2018. Growth will be driven by ongoing efforts to increase efficiency and link islands of automation – which is precisely MERLIN’s mission. MEMEX is quickly becoming a leader in manufacturing productivity software, and is well positioned for growth organically and through its partnerships with leading machine vendors and networking equipment manufacturers.  MEMEX has all of the characteristics that we look for in a quality, disruptive technology company and we look forward to communicating this to the investment community“.

MEMEX’s engagement with Sophic Capital is for a term of 12 months, subject to an automatic renewal for an additional 12 months, on a fee for services basis of $6,000 per month. In addition, Sophic has been granted options to purchase up to 250,000 shares of Memex at a price of $0.18 per share.  The options will vest quarterly in four tranches of 62,500 each during the term of the contract starting April 1, 2016 and will expire on the earlier of (i) 90 days after termination of the engagement and (ii) January 1, 2019. The options are governed by the provisions of the Company’s stock option plan and the policies of the TSX Venture Exchange.

ABOUT MEMEX INC.

MEMEX Inc. is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop floor to top floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines. For more information, please visit: www.MemexOEE.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.

 

Contact Information

Sean Peasgood, Investor Relations

Sophic Capital Inc.

(416) 565-2805

Sean@SophicCapital.com

 

David McPhail, CEO

MEMEX Inc.
(519) 993-1114

David.McPhail@MemexOEE.com

 

Nathan Rudyk, VP Marketing

MEMEX Inc.
(613) 406-3939

Nathan.Rudyk@MemexOEE.com

 

 

 

MEMEX Inc. Releases Fiscal 2015 Year End Results with Record Annual Revenue 115% Higher Than the Previous Year

Burlington, ON, Canada – December 17, 2015 – Memex Inc. (“Memex” or “the Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its financial results and operational highlights for its year ended September 30, 2015.

Financial Highlights for the Year Ended September 30, 2015:

Memex generated record revenue of $2.1 million, $1.1 million or 115% higher than the prior year.

Memex achieved record gross margin of $1.3 million, 200% higher than the prior year.

Unearned revenue of $582 thousand closed the year at a record high, $129 thousand or 28.5% higher than the previous high at September 30th 2014.

The Company showed a $2.4 million net and comprehensive loss for the year equating to a $0.030 loss per share.  This compares with a $2.1 million net and comprehensive loss and a $0.040 loss per share in 2014.

Memex qualified for up to $800 thousand in Government of Canada funding through FedDev Ontario’s Investing in Business Innovation (“IBI”) initiative.

Financial Highlights for the Quarter Ended September 30, 2015:

Memex generated quarterly revenue of $575 thousand, a $373 thousand or 179% increase when compared to Q4-2014, and $124 thousand more than Q3-2015.

The quarterly loss from operations of $600 thousand was down $153 thousand from $753 thousand for the same period a year ago, and $266 thousand less than the $866 thousand reported Q3-2015.

Operational Highlights for the Year:

Memex sold its flagship software product, MERLIN, to 32 new manufacturing enterprise customers in Canada, Mexico, the United States and Australia including Lynch Fluid Controls Inc., Koss Aerospace Ltd., Industrial B&S de Mexico SA de CV, FM Industries Inc., ANCA Pty Ltd., The Oilgear Company and Milwaukee Electric Tool Corporation.

In August 2015 Memex was invited by Mazak Corporation, a global machine tool leader, to join its exclusive Value Inspired Partner (VIP) program. Memex is the only such partner offering software in its category.

Memex acquired the intellectual property and other related assets of Dostek Incorporated and engaged its President, Doug Struthers, in the role of Merlin Direct Numerical Control (DNC) Architect to bolster Merlin’s DNC product capabilities.

Commencing January 2015 Memex focused its own Partner Channel program on relationships and future business potential with three of its largest partners: Mazak, Okuma, and Mazak Optonics.

Management Commentary:

Memex’s President & CEO David McPhail stated, “We are very proud of our accomplishments during fiscal 2015, and our team is focused on achieving even greater growth. More than 90% of manufacturers today run their factories without IIoT software and our job is to turn them on to MERLIN’s well-documented return on investment.  I commend each and every one of our employees for their contributions to this record year. And all of us want to thank our new and existing manufacturing customers for placing their trust in us as they take advantage of MERLIN software’s productivity promise.”

Memex’s Vice President of Sales John Rattray stated, “We have expanded MERLIN’s global customer footprint, continued investment in the development of our direct sales and partner channels, and achieved success with key partners. As well as customer expansion, we have immense potential within our existing install base.  All of this progress is reflected in the numbers reported. The Industrial Internet of Things is a desirable concept to many advanced manufacturing firms. To MERLIN customers however, it’s an achievable, real-time reality with fast payback.”​

About Memex Inc.

Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE). It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines. For more information, please visit: www.MemexOEE.com

For investor inquiries please contact:

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

Ed Crymble, Chief Financial Officer

905-635-1540 ext. 110

ed.crymble@MemexOEE.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.

To see the full press release, please click here