18th Feb 2025 18:11
(Alliance News) - Shares in Seeen PLC closed up on Tuesday as the company reported revenue growth for 2024 and announced a new contract worth up to USD3.5 million per year with a publishing house.
Seeen shares surged 54% to 5.00 pence in London on Tuesday.
The London-based media and technology platform said it expects full-year revenue to rise 50% to USD3.2 million, up from USD2.1 million in 2023. Adjusted earnings before interest, tax, depreciation, and amortisation loss is projected to narrow to USD400,000 from USD600,000.
The company said it reached operating cash flow breakeven in December 2024 and accelerated its annual revenue run rate to USD5.0 million.
Also on Tuesday, Seeen announced a contract to manage a publishing house's video and asset content library on YouTube, leveraging both its Creator Service Partner and technology offerings. The deal is expected to generate an initial USD500,000 annually, with the potential to scale up to USD3.5 million as more assets are included.
Chief Executive Officer said Adrian Hargrave said: "We are pleased with our progress across several dimensions: cross over into monthly operating cash flow breakeven; demonstrable ROI for customers that is differentiable in the marketplace; and traction from investors. We will reinforce these positive attributes throughout 2025 within the marketplace and communicate the great opportunity for shareholders regarding the Group's journey and growth ahead."
By Eva Castanedo, Alliance News reporter
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