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IN BRIEF: Insig AI interim loss narrows as costs decrease

20th Dec 2023 14:19

Insig AI PLC - London-based data science and machine learning firm - Interim loss narrows 36% to GBP1.8 million in the six months to September 30, from GBP2.8 million a year prior. Revenue declines 7.5% to GBP882,478 from GBP953,563. Administrative expenses decrease 33% to GBP2.2 million to GBP3.2 million. Looking ahead, Insig AI says: "Based on our expectations for new business wins in the coming quarter and beyond, we believe that the business has sufficient working capital. However, the board would consider an injection of equity should a potential partner wish to take a strategic equity stake to fast track growth. The board's view is that should this occur, pricing should reflect the value of the company's repository of corporate disclosures and its machine learning and data science expertise."

Current stock price: 16.00 pence, down 1.5% on Wednesday afternoon

12-month change: down 3.0%

By Tom Budszus, Alliance News slot editor

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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