SEEEN (SEEN) , a media and technology platform, announced that CEO Adrian Hargrave purchased a total of 80,645 ordinary shares of 0.1 pence each in the company on July 26, 2024 at a price of 3.1p via his SIPP.
Following the purchase, Hargrave has an interest in 2,066,392 ordinary shares representing c. 1.72% of SEEN's issued share capital.
SEEEN is a social app that lets users pinpoint and save from within videos specific moments, utilising the company's AI-led 'Key Video Moments' technology to drive increased views.
In its most recent results for FY23 ended December 31, 2023, SEEN reported material gains in recurring technology revenues and gross margins, up c. 200% to £0.23m and up 50% to 23.5% respectively. Technology sales were driven by the launch of CreatorSuite 2.0 in Q3 2023. Total revenues were US$2.1m. An adjusted EBITDA loss of US$0.6m was in line with market expectations, down from US$0.8m LY.
SEEN has reported increased sales momentum in H1 2024, with more than US$600k of annualised new revenues won since the start of Q2. A recent £763m fundraise and a strong pipeline of c. US$5m in potential annualised revenue through direct sales and reseller opportunities support a positive growth forecast.
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