Insig AI PLC - London-based machine learning and data science firm which serves the asset management industry, formerly known as Catena Group PLC - Pretax loss in 15 months to March 31 widens to GBP1.1 million compared to GBP188,000 loss in 2019. Revenue slips to GBP1.0 million from GBP1.7 million. Administrative expenses rises to GBP1.5 million from GBP1.1 million. The results are being released for a 15-month period due to the company's decision to change its accounting reference date to March 31 from December 31.
Chief Executive Steve Cracknell says: "It is the quality of our machine learning products that gives me great confidence that during the coming year we will secure a number of multi-million dollar recurring revenue partnerships. This will be in addition to our product fee licence strategy. These opportunities now enable us to substantially increase our medium and long-term revenue and profit expectations set at the time of the reverse takeover."
Current stock price: 67.00 pence; up 4.7%
Year-to-date change: down 14% since April 21, 2021
By Paul McGowan; paulmcgowan@alliancenews.com
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Insig Ai Plc (INSG)