4GLOBAL PLC (AIM:4GBL) had a bumper first financial year as a publicly listed company by penning statutory profits to the tune of £0.5mln, compared to nearly £2mln of losses in the previous period.
Group revenues for the year ending March 31. 2023, grew by 53% to £5.6mln, with basic earnings per share closing at 2.4p compared to losses of 7.1p in 2022.
Revenues were split between consultancy services takings of £2.3mln and data revenue of £3.3mln, the latter on an annual recurring revenue basis.
4GLOBAL’s cash position weakened from £3.1mln to £1.1mln, reflecting IPO costs and the cash settlement of share options.
4GLOBAL’s technology stack is used in major sporting events to provide data insights to major global partners.
Post-period operational highlights included:
- A strategic partnership to exploit a multimillion-dollar opportunity with Jonas Fitness Inc
- A strategic partnership agreement for a multimillion-pound opportunity with the fitness equipment and digital health provider Technogym to work with its existing and mutual clients to enhance their data insight solutions
In the results statement, 4GLOBAL chief executive Eloy Mazon commented: "We completed our first full year as an AIM quoted company and are in a strong financial position – profitable and with a sound balance sheet — the business has an excellent foundation on which to build in the current financial year and the future.
"Demand for our data and insight products continues to grow. The many significant challenges faced in our sector due to the uncertain global economic outlook, will, we believe, drive our customers to seek ever more business-critical insight and this is the very strong message we are getting from our customers.
"We are encouraged by the prospects for the rest of the financial year and beyond as we seek to increase our penetration in the European and North American markets and develop new revenue streams associated with our data."
Shares in 4Global gained 8% to 59p.