Substrate Artificial Intelligence (AQSE:SAI.B, OTCQB:SUIAF) has unveiled ambitious plans which will see the Spanish artificial intelligence incubator spin-out three businesses to IPO.
The company, in a statement, said it intends to bring to market the Subgen AI, Cuarta Dimensión Medica, and Fleebe AI businesses by 2028.
Substrate also gave investors sight of its financial projections for the 2024 financial year.
Total revenue for the year is forecast by the company at €20.57 million, whilst earnings (EBITDA) are predicted to reach €4.025 million.
The company expects to see an increase in consolidated turnover driven by organic growth and improvements in operational efficiency.
Assuming these projections are met, it will be the first time since the company’s initial public offering in Spain that it will report positive EBITDA.
Today’s statement comes ahead of an investor event later this evening in London, at the Brewery at 18:30.