Silver Bullet Data Services plc (LON:SBDS), a provider of AI driven digital transformation services and products, has provided a trading update for the year ended 31 December 2023 (unaudited).
Highlights
| · | Total Group revenue increased by 42% to £8.3m (FY22: £5.8m) and revenue from 4D AI increased 85% to £2.8m (FY22: £1.5m). |
| · | US and globally operating clients now account for more than 50% of total Group revenues. |
| · | Losses significantly reduced due to revenue acceleration and cost reduction. |
| · | Committed revenue for 2024 currently in excess of £5m, £1.1m of which derived from 4D AI and £4.0m from Customer Experience (CX) Services. |
The revenue growth of 42% to £8.3m (FY22: £5.8m) can be attributed to the expanding number of global brands adopting 4D and other AI driven marketing models to structure customer data in a way that improves direct customer experience and marketing ROI. The Company has strategically consolidated key global client relationships such as Mars and Heineken to position itself for accelerated growth and scalable cross-pollination of 4D AI in 2024. US and globally operating clients now account for more than 50% of total Group revenues.
