Ian James, CEO of Silver Bullet Data Service discusses their interim results noting they have achieved strong revenue growth of 79%. Ian also points out that they continue to see robust demand from clients for both their Customer Experience Services & their 4D, AI contextual data Platform, which means they are targeting a positive EBITDA position in early FY24.
Operational Highlights for the 6 Months to 30th June
· For the six months to June 2023, Silverbullet experienced a period of strong revenue growth, with revenue having increased by 79% to £4.16 million versus H1 2022 (2022: £2.33m).
· Increased revenue driven by the expansion of services to established customer base across the Group's three key markets of US, UK and APAC, alongside new logo wins; notably, over 35% of Group revenue in the period was generated in the US market.
· Revenue from '4D' Silverbullet's AI contextual data platform has grown by 122% to £1.22m - driven predominantly by significant growth in the US market.
· Revenue from the Customer Experience Services unit has grown by 65% to £2.94m - largely driven by growth with existing clients.
· Significantly reduced operating costs as a result of strong cost management and the successful restructure of the 4D team in late 2022 as the platform reached key milestones on the product development roadmap.