Silver Bullet Data Services Group plc (LON:SBDS), Silverbullet, a provider of AI driven digital transformation services and products, has announced its unaudited interim results for the six months to 30 June 2025.
Financial Highlights
| Six months to 30 June 2025 | Six months to 30 June2024 | |
| Revenue | £4.8m | £4.4m |
| Gross Profit | £3.8m | £3.3m |
| EBITDA* | (£1.1m) | (£0.9m) |
| Reported Loss before tax | (£2.1m) | (£1.6m) |
| Earnings Per Share | -0.11p | -0.08p |
*Refer to note 3 of notes to the interim accounts
Highlights
| · | Headline revenue growth of 10% compared to the six months to 30 June 2025 (“H1 2024”), despite challenging macroeconomic conditions, one-off Q1 2025 tariff headwinds, and ongoing US market instability. |
| · | EBITDA was flat year-on-year and in line with expectations, excluding the impact of the Codec acquisition and one-off costs related to redundant corporate roles. |
| · | Total bookings of £9.0m secured by 31 August 2025 versus £9.3m for the whole of the 2024 financial year, demonstrating strong momentum with further upside expected in the second half of 2025 (“H2 2025”). |
| · | Services revenue of £5.7m already secured, representing 88% of target and up 11.9% year-on-year. |
| · | 4D revenue of £3.1m booked year-to-date (80% of full-year target), with data-only revenues up 65% year-on-year. |
| · | New client wins during the period include a 2 year contract with Global Fashion to drive marketing data transformation, and additional new 4D client logos including Apple, Rover, Thompson Reuters and Sky Bet. |
| · | 4D AI structural cost review and broader company wide cost-mitigation programme on track to deliver operating expense savings in H2 2025, supporting further EBITDA improvement. |
| · | Successfully raised £3.3m in June 2025 via the issue of new convertible loan notes (“CLNs”), loan notes, a subscription and a WRAP Retail Offer (the “Fundraise”). |
| · | As part of the Fundraise, restructured and consolidated existing CLNs into new three-year CLNs simplifying the Group’s capital structure and aligning financing with the Group’s growth plan. |
Post Period End
| · | Three GenAI upgrades for 4D AI went live in September, enhancing clients’ and agencies’ ability to plan, optimise and measure contextual ad campaigns. |
| · | Additional AI innovation expected to be rolled out in Q4 2025 across Codec, 4D and professional services to drive internal efficiency and improve product and service effectiveness. |
| · | Appointment of new NED Dara Nasr, who brings over 20 years’ of digital media and tech experience, working at Twitter and Google/YouTube. Dara will be supporting sales growth with a focus on 4D data partnerships and strategic commercial deals. |
| · | Launched new AI products and are seeing accelerating impact of AI on operations and client growth opportunities; currently reviewing cost base versus AI-driven efficiency opportunities to further improve EBITDA and broaden products and services to meet growing client demand. |
| · | Explored a potential acquisition offering strategic growth opportunities, however the Board determined it was not sufficiently compelling and decided not to proceed. The Company continues to assess strategic opportunities on an ongoing basis. |
Ian James, Chief Executive, commented:
“The Board is encouraged by the progress and positioning of the Company and by its strengthened presence in the AI space. Mindful of ongoing macroeconomic headwinds and reduced visibility on client spending patterns, the Group’s continued new business wins and clear focus on AI demonstrate the resilience of our business model.
“Whilst Silverbullet continues to deliver world-class value to both current and new clients through data-driven business transformation, innovation remains at the heart of the Group’s strategy. We continue to be excited by the opportunities for our 4D AI product offering, successfully pivoting towards GenAI-led opportunities and positioning the business to capture growth in this rapidly developing area.
“With total bookings secured by the end August almost surpassing last year’s total, combined with effective cost management, the Board is confident in its full year performance.“
