Trading Update and New Client Win
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
29 April 2025
Insig AI plc
("Insig AI", the "Company" or the "Group")
Trading update for the year ended 31 March 2025 and new client win
Trading ahead of expectations
Insig AI plc (AIM:INSG), the data science and machine learning solutions company, is pleased to announce that trading for the fourth quarter and for the year to 31 March 2025 has been ahead of previous management guidance. Revenue for the fourth quarter was £249k, equivalent to 90% higher than the third quarter and 210% higher than the second quarter. The fourth quarter outturn was 11.2% above expectations announced on 24 March 2025.
New client win and orders
The Company is pleased to announce that it has also secured a new client win from a London-based, European focused asset manager with assets under management of more than £1 billion. The client specialises in distressed corporate and asset-backed investments. The work won relates to the automation of data collection and ingestion and comprises both a licence fee and an ongoing annual retainer. Whilst the initial works are not material from a revenue perspective, management believes this win can lead to significant additional work from this client in the current year.
The Company has also received confirmation from another new prospect, which although still subject to final documentation, is from a London based asset manager with assets under management of more than £1 billion, specialising in a global equities. Its focus is on using Insig AI to improve its automation of data collection.
Earlier this month, the Company announced that it received a purchase order from the Financial Conduct Authority for a subscription service licence agreement to access Insig AI's Transparency and Disclosure Index ("TDI") covering UK listed companies.
Richard Bernstein, Insig AI's Chief Executive commented: "We are pleased that the outturn for the year to March 2025 has been better than our expectations and delighted that the current year has gotten off to the best possible start. Our new sales strategy, which we announced last December, is now bearing fruit. Our clearly defined offerings are resonating well with prospects. We are also making exciting progress developing new automation tools that leverage our machine-learning and AI capabilities, which we are planning to be able to apply to other verticals."
For further information, please visit www.insig-ai.com or contact:
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Insig AI plc |
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Richard Bernstein, CEO |
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Zeus (Nominated Adviser & Broker) David Foreman / James Hornigold |
+44 (0) 203 829 5000
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