25th Jul 2025 11:34
(Alliance News) - GenIP PLC on Friday said it continued to maintain a "strong" pipeline of new business, celebrating increasing demand for its solutions.
The London-based generative AI services provider said its cash balance as at June 30 rose 11% to around USD1.1 million from USD972,000 at December 31, 2024.
The firm expects first-half revenue of USD128,000, while highlighting that there is no direct comparability to a year ago, due to the strategic ramp-up of expenditure and marketing since its initial public offering.
GenIP started trading on London's AIM in October 2024.
The firm noted "several significant orders secured in the first half, which are scheduled for delivery and revenue recognition in [the second half]. These early wins underscore the commercial progress made since IPO and position the company for continued growth in the second half of the year."
GenIP said that investment in technology development continues, with delivery expected at the beginning of the third quarter.
Chief Executive Officer Melissa Cruz said: "We are extremely encouraged by the strong commercial traction we've achieved in such a short period since our initial public offering. The size and quality of our order book reflect the value our services bring to clients worldwide. We're seeing increasing demand for our solutions as institutions seek faster, data-driven ways to unlock the value of their innovations. With a strong balance sheet and a growing pipeline of opportunities, we are well positioned to deliver accelerated growth in the second half of the year and beyond."
GenIP shares rose 2.7% to 28.25 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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