Silverbullet wins £1.5m worth of new contracts

(Sharecast News) - Silverbullet reported strong trading in its fourth quarter on Wednesday, marked by record-breaking performance in October and new contracts worth £1.5m. The AIM-traded firm said the new bookings, secured in September and October, extended into the first quarter of 2025 and included high-margin data revenues from its proprietary 4D AI platform.

Notable new brand partnerships with global blue-chip clients, including BMW and Visa, contributed significantly to what the company called its best-performing month on record.

As of 31 October, committed revenues for the 2024 financial year reached £9.3m, surpassing last year's total annual revenue of £8.3m by over £1m.

Positive trading EBITDA, which commenced at the start of the fourth quarter, had been bolstered by the new contract wins and renewals, aligning with management's expectations.

"I am delighted with our recent achievements and the strong momentum across the business," said chief executive officer Ian James.

"Securing £1.5m in new contract wins reflects the value we are creating for clients and our team's dedication."

James said October was the company's best performing month on record, enhanced by new higher-margin repeatable revenue streams.

"In addition, we recently announced the completion of a new working capital facility which eliminates the need for any additional funding to cover operational working capital, providing a strong foundation for continued expansion."

At 1222 GMT, shares in Silver Bullet Data Services Group were up 8.08% at 53.5p.

Reporting by Josh White for Sharecast.com.