Silver Bullet Data Services Group plc (Silverbullet) (LON:SBDS), a provider of digital transformation services and products, has announced interim results for the six months to 30 June 2022.
Financial Highlights
| Six months to June 2022 | Six months to June 2021 | |
| Revenue | £2.33m | £1.67m |
| Gross Profit | £1.63m | £1.24m |
| Headline Loss before tax* | £3.40m | £2.97m |
| Reported Loss before tax | £3.79m | £3.93m |
| Earnings Per Share | (£0.27) | (£0.44) |
*Headline results are calculated before exceptional items and share option charges
Operational Highlights
| · Revenue of £2.33 million, with revenue growth up by 40 per cent compared to H1 2021 and in line with management expectations. |
| · 12 new multi-market services client wins in the period including Mars, Britbox and Entain Group. |
| · Further consolidation of existing services clients with additional contract wins from Heineken, ITV and Channel 4. |
| · Continued technical development and enhancement of ‘4D’, Silverbullet’s contextual insights and targeting platform, including enhancements of the programmatic video and YouTube offering in line with market demand. |
| · Despite previous reported headwinds resulting from Google’s continued delays on cookie deprecation, 4D revenue growth is in line with management expectations and is driven by evolving client demands around consumer data privacy. Contextual managed services for 4D are in increasing demand to meet more complex data privacy client requirements. |
| · Launch of a strategic partnership and entity with Making Science Group S.A., enabling access to new clients, services and Google ad tech and data products such as YouTube and DV360. |
| · In June 2022 the Group secured additional funding of £4.6 million in order to bolster its balance sheet and support the growth of Silverbullet’s 4D product and sales. |
Ian James, Silver Bullet Data Services Group Chief Executive, commented: “I am very pleased to report that Silverbullet has delivered solid results for the period, delivering significant revenue growth, adding substantial new clients, expanding further into the US and LatAm and continuing development of our 4D product and revenue streams. The privacy first data transformation market is continuing to mature and accelerate which is presenting the Company with additional opportunities to expand our client base. We continue to perform in line with management expectations and look forward to the future with confidence.”
