REG - Silver Bullet Data - Q1 Trading Update

Silver Bullet Data ServicesAnnouncement

18/04/2023 07:00

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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

·    £5.2m of new bookings and contract renewals with blue chip clients,
in Q4 2022 and Q1 2023

·    Q1 2023 booked record £2m 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
(https://otp.tools.investis.com/clients/uk/ifc_advisory/rns/regulatory-story.aspx?cid=2664&newsid=1673395)
on 9 March 2023, reported Silverbullet continues to work with notable global
clients such as Heineken, Sony and Mars and has signed £3.4m worth of new
bookings and contract renewals in Q4 2022. In Q1 2023, the Company has signed
£1.8m 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 £2 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 and Nominated Adviser    0207 409 3494
 James Spinney / James Bellman / Robert Collins

 Oberon Capital - Broker                                    0203 179 5344
 Mike Seabrook / Chris Crawford / Nick Lovering

 IFC Advisory                                               020 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler          07793 839 024

 

 

 

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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