RE: Apple, Visa, Vodafone, BMW, SkyBet2 Jun 2026 15:47
The Q1 2026 update is the first statement from Silverbullet that I would describe as genuinely significant because management are no longer talking about future aspirations. They are saying:
✅ Revenue up 22%
✅ Ahead of budget by 9%
✅ Positive EBITDA achieved
✅ £700k EBITDA improvement year-on-year
✅ Expect EBITDA positivity to continue
✅ Expect cash flow positivity from end of Q2
Those are much stronger statements than anything they were saying a year ago.
The key question
Has the market already discounted it?
The share price is still around all-time lows so could present a significant opportunity.
But at a £4.5m market cap, I’d argue the market is still highly sceptical.
A profitable AI/data company with:
* £10m+ revenue
* Blue-chip clients
* International operations
* Proprietary software
* Positive EBITDA
would normally not trade on £4.5m.