Final Results for the year ended
Silverbullet (AIM: SBDS), a provider of AI driven digital transformation services and products, is pleased to announce its audited results for the year ended
FINANCIAL HIGHLIGHTS.
YE
YE
Y-O-Y
Revenue
£8.36m
£5.82m
+44%
Gross Profit
£6.36m
£4.22m
+51%
Headline Loss before tax*
£3.31m
£6.10m
-46%
Reported Loss before tax
£3.45m
£7.54m
-54%
Loss Per Share
£0.20
£0.49
-61%
* Headline results are calculated before exceptional items and share option charges, reconciliation per note 5 of the consolidated financial statements.
Operational Highlights:
·
Group revenue increased 44% to £8.36m (2022: £5.82m).
·
Services revenue increased 29% to £5.55m (2022: £4.30m).
·
4D revenue increased 85% to £2.81m (2022: £1.52m) driven by US demand for the product.
·
US and globally operating clients now account for more than 50% of total Group revenues.
·
Losses significantly reduced due to revenue acceleration and cost reductions.
Post-Period End Highlights
Committed and earned services revenues represent 69% of targeted revenues for the year to date.
4D bookings more than doubled in Q1 24 compared to Q1 23.
Growth in services top two clients has increased (2024 vs 2023) by 43% and 26% respectively, reflecting growing demand and increased client spending on data transformation.
US and global clients contribute approximately 73% of total revenue (2023: 50%).
Net margin year to date has increased by 35% versus the corresponding period in FY 23.
Group overheads and costs remain flat year over year.
A robust pipeline of over £4m providing strong confidence for the rest of the year.
Silverbullet expects to achieve its objective of an EBITDA positive run rate entering the second half and commence generating positive operating cashflow in the current financial year.
Based on current demand for the Group products and services, the Board views the future of the business with confidence.
"Looking ahead, our post-period end highlights paint a promising picture, with total bookings at approximately £6.2m and a robust pipeline exceeding £4m. With our sights set on achieving an EBITDA positive run rate entering the second half of the year and positive operating cashflow in the current financial year, I am very excited about the future prospects of Silverbullet. Our unwavering confidence in the Group's trajectory is grounded in our steadfast commitment to innovation, client satisfaction, and sustained growth."
IFC Advisory
Account Manager
DL: +44 (0) 203 934 6636
SB: +44 (0) 203 934 6630
M: +44 (0) 7958 124 052
Email: florence.chandler@investor-focus.co.uk
.
(C) 2024 M2 COMMUNICATIONS, source