Insig AI PLC (AIM:INSG) reported that trading for the fourth quarter and the full year to 31 March was ahead of management’s guidance.
Fourth quarter revenue reached £249,000, up 90% compared with the third quarter and 210% versus the second – and it was some 11.2% above the company’s expectations.
"We are pleased that the outturn for the year to March 2025 has been better than our expectations and delighted that the current year has gotten off to the best possible start,” chief executive Richard Bernstein said.
Also, the firm has landed a new client win as it landed a ‘London-based European-focused asset manager with more than £1 billion in assets under management’.
The client engagement sees the company deliver automation for data collection and ingestion. The deal comprises a licence fee and a recurring annual retainer.
Meanwhile, the company noted that a second new client order, also with ‘a London-based asset manager with assets under management of over £1 billion’, is pending final documentation.
Earlier this month, Insig AI announced it had received a purchase order from the Financial Conduct Authority for a subscription service licence agreement to access its Transparency and Disclosure Index covering UK-listed companies.
“Our new sales strategy, which we announced last December, is now bearing fruit,” Bernstein added.
“Our clearly defined offerings are resonating well with prospects.
“We are also making exciting progress developing new automation tools that leverage our machine-learning and AI capabilities, which we are planning to be able to apply to other verticals."