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Mobile Streams PLC - mobile content and data intelligence company headquartered in London - Revenue and customer growth remain ahead of internal forecasts. Also says Streams SaaS platform which generated initial customer revenues in October, is contributing increasing revenue to the business on an ongoing basis, with revenue in December of GBP9,000.
"We expect that revenues from Streams Data will overtake net revenue from the legacy business for the first time this month. In addition, the business as a whole is now bringing in more revenue overall per month than at any time since the new management team has been in place," company says.
Non-Executive Director Nigel Burton says: "We are pleased with the Streams results to date and expect to achieve significant growth in the data business in the year ahead."
Notes cash of GBP1.0 million with no debt.
It adds: "Based on the expectations of significant growth for Streams Data and continued tight cost controls, the company expects to reach break-even in the next financial year, and therefore these funds are expected to cover the company's working capital requirements for the foreseeable future."
Current stock price: 0.23 pence, up 5.2% on Friday
Year-to-date change: down 1.7%
By Paul McGowan; paulmcgowan@alliancenews.com
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