Silver Bullet Data Services Grp PLC Q1 Trading Update (4960W)
April 18 2023 - 2:00AM
UK Regulatory
TIDMSBDS
RNS Number : 4960W
Silver Bullet Data Services Grp PLC
18 April 2023
18 April 2023
Silver Bullet Data Services Group plc
("Silverbullet" or the "Company", or, together with its
subsidiaries, the "Group")
Q1 Trading Update
Silverbullet (AIM: SBDS), a provider of digital transformation
services and products, is pleased to provide a trading update for
Q1 ended 31 March 2023.
Highlights
-- GBP5.2m of new bookings and contract renewals with blue chip clients, in Q4 2022 and Q1 2023
-- Q1 2023 booked record GBP2m revenue (unaudited) - over 100% growth on Q1 2022
-- Cost base to deliver Q1 FY23 revenue is in line with Q1 FY22
-- Strong growth across key markets: UK, US and Australia
-- 4D continuing to penetrate new markets
Group trading in the first quarter has been strong with notable
new business wins, resulting in year-on-year revenue growth of over
100%. This growth has been achieved from a cost base that is
broadly in line with the comparable prior year period, evidencing
the Company's cost management measures.
Silverbullet's contextual insights and targeting platform, '4D',
continues its momentum and has gained significant new revenue in
the US. New clients include a market leading Insurance Company,
Global Electronics manufacturer and a US Government Body.
The RNS on 9 March 2023, reported Silverbullet continues to work
with notable global clients such as Heineken, Sony and Mars and has
signed GBP3.4m worth of new bookings and contract renewals in Q4
2022. In Q1 2023, the Company has signed GBP1.8m of new bookings
and contract renewals. Collectively, these contracts are providing
the Company with significant visibility for expected revenues for
the full year.
Q1 2023 (pre-audit) was the highest revenue quarter on record
for the Company, with GBP2 million of revenue recorded for the
period. This is driven from new and exisitng customers across the
three key markets of UK, US and Australia. Notably, over 30% of
Group revenue in Q1 2023 was generated in the US market.
Ian James, Chief Executive, commented:
"We are delighted by the strong performance of the business in
Q1, which follows on from a strong Q4 2022. Growth in revenue in 4D
is particularly pleasing, as we continue to see heightened demand
for this product. Further booked revenues and the ongoing benefit
of the cost management programme implemented last year provide the
Board with increased visibility and confidence of the business
strategy. We look forward to updating the market on further
developments in due course."
For further information please contact:
Silverbullet via IFC
Ian James (CEO)
Strand Hanson Limited - Financial 0207 409
and Nominated Adviser 3494
James Spinney / James Bellman / Robert
Collins
0203 179
Oberon Capital - Broker 5344
Mike Seabrook / Chris Crawford /
Nick Lovering
020 3934
IFC Advisory 6630
Graham Herring / Tim Metcalfe / Florence 07793 839
Chandler 024
About Silverbullet
Silverbullet's proprietary 4D advertising solution is designed
to help advertisers target consumers in a "post cookie world". The
product is a natural extension to its existing services business
which already serves a blue-chip client base such as Heineken,
Channel 4, Amazon and ITV amongst many others. The removal of
third-party cookies has already been implemented by web browsers
such as Firefox and Safari, with Google expected to phase out the
use of cookies in 2023.
Headquartered in London, the Group employs employees 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 services business
with significant accumulated industry experience and a proven track
record of delivering strategic projects 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.
The Group has close technical and commercial partnerships with
multiple global technology providers, all of which have existing
sales channels and are already delivering to clients.
The Group has established a strategic partnership and an entity
with Local Planet, a scaled network of over 60 agencies across the
globe. Local Planet Data Services Limited was established in
December 2020 and presents a significant opportunity to provide
data services and the 4D product to the Local Planet agency
network.
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