Silver Bullet Data Services 2021 was a transformational year

Silver Bullet Data Services

Silver Bullet Data Services Group plc (LON:SBDS), a provider of digital transformation services and products, has announced its unaudited preliminary results for the year ended 31 December 2021.

Financial Highlights

Year ended December 2021Year ended December 2020
Gross Profit£2.79m£1.97m
Headline Loss before tax*£6.10m£4.58m
Reported Loss before tax£8.57m£5.37m
Earnings Per Share(£0.73)(£0.75)

* Headline results are calculated before exceptional items and share option charges

Operational Highlights

·   Successful admission to trading on AIM on 28 June 2021, raising gross proceeds of £9.5 million.  
·   Revenue of £3.81 million, up 37 per cent. on 2020. 
·   26 new services client wins in the period, including ITV, Venture Crowd and Edyn. 
·   Consolidation of existing services clients as a result of additional contract wins with Channel 4, Heineken and Dolce & Gabbana. 
·   Significant technical development and enhancements of ‘4D’, Silverbullet’s contextual outcomes engine, including the delivery of a YouTube video solution. 
·   4D campaigns have been successfully delivered for several clients and global agencies, however 4D revenue has had a slower start than previously anticipated – largely due to the fact that Google has delayed its final phasing out of third party cookies by 12 months. 
·   Further strengthening of strategic and technical teams with valuable new hires.  The senior management team was bolstered by the addition of Kristen Kelly as Chief Operating Officer. 
·   Expansion of our 4D-focused US office and offering. 

The Company intends to complete a fundraise imminently following the publication of these results in order to bolster its balance sheet and support the growth of Silverbullet’s 4D product sales during 2022.

Ian James, Chief Executive Officer of Silver Bullet Data Services, commented:

“2021 was a transformational year for Silverbullet, with the completion of our IPO in June 2021. The Company has delivered strong performance in marketing services and is continuing to gain traction with our 4D offering.

“We are operating in a very exciting and relevant space.  The value of 1st party data to clients and benefits of 4D, our contextual outcomes engine designed for a world without third-party cookies, gives us confidence that our prospects are very encouraging.

“Trading for 2022 has started well, with new customer wins and extensions of existing contracts, as well as the new joint venture with Making Science which will create new improved solutions for the privacy-first era. I look forward to the remainder of 2022 with optimism and we will be updating the market on progress in due course.”

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