Silver Bullet Data Services Group PLC (LON:SBDS), Silverbullet, a provider of AI driven digital transformation services and products, has announced a trading update with new contract wins and renewals worth, in aggregate, £1.5 million.
Key Updates
| · | In-line with expectations, the Group began Q4 with positive trading EBITDA, which has been further strengthened by new brand partnerships. |
| · | Combined new bookings in September and October 2024, running through to Q1 2025, of approximately £1.5 million. |
| · | October was the best performing month on record for the Group and included a significant proportion of new bookings relating to 4D AI higher-margin data revenues with global blue chip clients including BMW and VISA. |
| · | As at 31 October 2024, committed revenues for FY2024 stood at approximately £9.3 million (unaudited), more than £1 million ahead of last year’s total annual revenue (2023: £8.3 million). |
Ian James, CEO of Silverbullet, said:
“I am delighted with our recent achievements and the strong momentum across the business. Securing £1.5 million in new contract wins reflects the value we are creating for clients and our team’s dedication. October was our best performing month on record, enhanced by new higher margin repeatable revenue streams. In addition, we recently announced the completion of a new working capital facility which eliminates the need for any additional funding to cover operational working capital, providing a strong foundation for continued expansion.”
