Trading Update and Directorate Change

RNS Number : 3667S

Silver Bullet Data Services Grp PLC

09 March 2023

 

9 March 2022

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the "Group")

Trading Update and Directorate Change

Silverbullet (AIM: SBDS), a provider of digital transformation services and products, is pleased to provide a trading update for the year to 31 December 2022.

Despite the challenging macroeconomic market conditions, the Company has delivered a strong operational performance, with unaudited EBITDA in line with expectations and year-on-year revenue growth of over 50%.

Demand for Silverbullet's services and products has continued. In Q4 2022, the Group recorded £3.4m of bookings, which will flow into financial year 2023. The Company continues to trade well whilst managing its business model and cost base in line with the evolving client and macro environment.

The Company also announces that Keith Sadler, Non-Executive Director, has resigned with immediate effect, in order to focus on his other business interests. The Board would like to thank Keith for his contributions and wish him well in his future endeavours.

The Company expects to announce its results for the year ended 31 December 2022 on or around 30 May 2023.

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
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.

 

END

 

 

TSTFVLLBXXLBBBV