20 November 2024
Silver Bullet Data Services Group plc
("Silverbullet", the "Company" or, together with its subsidiaries, the "Group")
New contract wins and positive trading EBITDA
Silverbullet, a provider of AI driven digital transformation services and products, is pleased to announce 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.
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| · | Combined new bookings in September and October 2024, running through to Q1 2025, of approximately £1.5 million.
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| · | 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.
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| · | 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).
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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."
For further information please contact:
| Silverbullet | | via IFC |
| Ian James (CEO) / Chris Ellis (CFO)
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| Strand Hanson Limited - Financial and Nominated Adviser | | 0207 409 3494 |
| James Spinney / James Bellman / Robert Collins | | |
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| Zeus Capital Limited - Joint Broker | | 0203 829 5000 |
| Simon Johnson / Jake Walker | | |
| CMC Markets - Joint Broker | | 0203 003 8632 |
| Douglas Crippen | | |
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| IFC Advisory | | 020 3934 6630 |
| Graham Herring / Tim Metcalfe / Florence Chandler | | 07793 839 024 |
About Silverbullet
Silverbullet's proprietary 4D AI advertising solution is designed to help advertisers target consumers in a "privacy-first world". The product is a natural extension to its existing services business which already serves a blue-chip client base such as a leading UK hospitality brand and a Global Brewing company, amongst many others.
Headquartered in London, the Group employs 85+ data specialists across five regions across the globe, including, the UK, Italy, Australia, USA and Latin America. The Group continues to look at other opportunities for expansion worldwide.
The Company has an established and growing solutions business with significant accumulated industry experience and a proven track record of delivering strategic digital transformation 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.
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