Insig AI plc share price (AIM: INSG) was flat after the data science and machine learning solutions provider for the asset management industry, has released its unaudited interim results for the six months ending 30 September 2024. Despite challenges, the company reported progress in its strategic pivot and sales pipeline growth.
Financial Highlights
- Adjusted EBITDA Loss: £0.4 million (unchanged from H1-23).
- Revenue: £0.2 million, reflecting the disposal of Sport in Schools in November 2023.
- Operating Loss: Reduced to £1.4 million from £1.8 million in H1-23.
- Cash Position: £0.2 million as of 30 September 2024, supplemented by a £0.3 million R&D tax refund post-period.
Operational Updates
CEO Richard Bernstein highlighted a quadrupling of the sales pipeline to over £2.5 million in the last six weeks, driven by a refined business development strategy. Key progress includes:
- AI-Ready ESG Data: Enhanced engagement with regulators, corporates, and consulting firms, leveraging a unique repository of corporate disclosures.
- Data Engineering for Asset Managers: Increased interest in automated solutions to streamline risk management and boost productivity.
Strategic Developments
- Equity funding raised £0.8 million in June 2024.
- Board changes: John Wilson appointed Independent Non-Executive Chairman, and Warren Pearson transitioned to focus on product development.
- Enhanced client acquisition, including a major asset manager win in November 2024.
Outlook
The company is optimistic about 2025, with the Corporate Sustainability Reporting Directive effective in January, expected to drive demand for Insig AI’s solutions. Bernstein emphasized confidence in converting a growing pipeline into sustained revenue growth, noting structural market tailwinds and an increasing focus on regulatory alignment.
While challenges remain, Insig AI appears positioned for growth in a burgeoning data-driven asset management landscape.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.