Silver Bullet Data Services Grp PLC Trading Update (8578I)
10 Agosto 2023 - 1:00AM
UK Regulatory
TIDMSBDS
RNS Number : 8578I
Silver Bullet Data Services Grp PLC
10 August 2023
10 August 2023
Silver Bullet Data Services Group plc
("Silverbullet" or the "Company", or, together with its
subsidiaries, the "Group")
Trading Update
Silverbullet (AIM: SBDS), a provider of digital marketing
transformation services and products, is pleased to provide a
trading update for the six months ended 30 June 2023 ("H1 2023"), a
period of continued strong revenue growth with overall performance
in line with management expectations.
Highlights
-- Strong revenue performance of GBP4.1m - a year-on-year increase of 76% (H1 2022: GBP2.3m)
-- Significantly reduced losses for the period compared to prior year
-- Reduction in cost base to reflect the focus on achieving a
headline profit before tax in Q1 2024
-- Strong growth across key markets: US, UK and APAC
-- Increased demand to Group's Contextual AI product, 4D across all markets especially the US
The strong trading for the Group in H1 2023 has been achieved
with revenues of GBP4.1m, representing a year-on-year growth rate
of 76%. This has been primarily driven by our established customer
base across the three key markets of US, UK and APAC. Notably, over
35% of Group revenue in H1 2023 was generated in the US market. The
Group's overall performance has also been improved by a
significantly reduced cost base (now that the 4D product
development is complete), resulting in higher margins, which
positions the Group to achieve a headline profit before tax on a
quarter by quarter basis from Q1 2024.
Growth has been achieved in all areas of the business, as global
clients accelerate their use of first-party customer data and
privacy led marketing products. As clients' marketing investment
and customer experiences continues to shift to digital, especially
online commerce, video and CTV, Silverbullet is well positioned as
a partner of choice for clients to deliver their data driven
marketing transformation journey.
Demand for the Group's Contextual AI product 4D has increased,
with notable clients in the period including a leading US media
agency with which Silverbullet has received sales commitments of
over $1m since the beginning of 2023. As 4D rolls out its
generative AI upgrades and the marketplace adapts to the
depreciation of "third-party cookies", client demand continues to
grow for the "privacy first" 4D contextual AI platform
globally.
In the area of first-party data transformation services, notable
global clients such as Heineken, Sony, Mars and ITV continue to
adopt more services from SilverBullet as the Group expands its
portfolio product suite. Silverbullet continues to leverage its key
partnerships with global enterprise software providers such as
Salesforce, Treasure Data (a Softbank owned software platform) and
its Joint Ventures with Google reseller Making Science and global
media agency network Local Planet, thus providing a solid pipeline
of new clients into 2024.
Ian James, Chief Executive, commented:
"We are delighted that the momentum in the first quarter has
continued, with particularly impressive growth from our 4D AI
platform. Following our growth in revenue from a reduced cost base,
the Group remains on track to achieve a headline profit before tax
on a quarter by quarter basis from Q1 2024. The Board is optimistic
that market conditions are encouraging customers to adopt our
privacy first marketing transformation services and products, which
are becoming a vital part of their business strategy."
For further information please contact:
Silverbullet via IFC
Ian James (CEO)
Strand Hanson Limited - Financial 0207 409
and Nominated Adviser 3494
James Spinney / James Bellman / Robert
Collins
0203 179
Oberon Capital - Broker 5344
Mike Seabrook / Chris Crawford /
Nick Lovering
020 3934
IFC Advisory 6630
Graham Herring / Tim Metcalfe / Florence 07793 839
Chandler 024
About Silverbullet
Silverbullet's proprietary 4D AI platform is designed to enable
advertisers to target consumers in a "privacy first post cookie
world". The product is a natural extension to its existing
marketing transformation services business which already serves a
blue-chip client base such as Heineken, Mars, Sony and ITV amongst
many others. The growing use of first party customer data and the
removal of third-party cookies which has already been implemented
by web browsers such as Firefox and Safari, with Google expected to
phase out the use of cookies in 2023 is accelerating marketing
transformations across all business sectors.
Headquartered in London, the Group employs 80+ employees across
Europe, US and APAC. The Group continues to look at other
opportunities for expansion worldwide.
The Company has an established and growing services business
with significant accumulated industry experience and a proven track
record of delivering strategic engagements and activation services
to its clients. The majority of the Board have held senior
positions at global software companies and have significant
industry experience across data engineering, SAAS product
development and marketing.
The Group has close technical and commercial partnerships with
multiple global technology providers, all of which have existing
sales channels and are already delivering to clients.
The Group has established a strategic partnership and an entity
with Local Planet, a scaled network of over 60 agencies across the
globe. Local Planet Data Services Limited was established in
December 2020 and presents a significant opportunity to provide
data services and the 4D product to the Local Planet agency
network.
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END
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