Financial Highlights
- Total Group FY23 revenue expected to be $2.1m (FY22: $3.3m).
- 37% of revenue was technology-related (FY22: 30%)
- Recurring technology revenues of more than $0.2m (FY22: $0.1m)
- Increased its customer base to 40 (2022: 21)
- New customers are in growing vertical markets such as sports and services, e-commerce applications and publishing
- Expanded Gross Margin above 20% (FY22: 15.2%)
- Reflecting improving technology-led and higher margin CSP sales mix
- Reduced Adj. EBITDA loss c.$0.6m (FY22: loss of $0.8m)
- Cash, as at 31st Dec 2023, of $1.2m
- one-off development costs of CreatorSuite 2.0
- Successfully completed a fundraising in December 2022
Operating highlights
- Released two new products in 2023
- Leveraging their proprietary AI-led technology
- Michael Zigman is proposed to be appointed to the Board as an independent non-executive director, replacing Akiko Mikumo.
Market Intelligence
- First mover advantage in the AI-led video e-commerce space
- Strong balance sheet at the end of FY23
- Creator Suite2.0 well received by beta customers
- Doubling of Purchase Conversions
- Click through Rates of up to 25%
- CAC down 67% in PPC Campaigns
- Opportunity to add a new revenue stream for publishers leveraging the same video library by combining advertising with SVPs to drive sales
- Integration of Key Video Moments with CRM systems to automate e-commerce
- Strong balance sheet at the end of FY23
- Deep and broad sales pipeline for FY24
- Targeting cash flow breakeven in FY24
Seeen (SEEN)