Cykel AI PLC (LSE:CYK) shares traded higher on Friday after the small-cap reported a sharp rise in monthly revenue thanks to its AI recruitment agent.
The company, in a statement, said recurring revenue (in the period between 18 May to 18 June) increased by 68.4%.
It also highlighted that its AI agent has now completed more than 500 product demos, and, in late May, it unveiled an enterprise-level deal with Transpharmation.
Meanwhile, Cykel is among a number of small-caps advancing a Bitcoin Treasury Reserve Strategy.
“I look forward to sharing further announcements about our commercial progress and details of the initial allocation of our Bitcoin Treasury Reserve Strategy in the coming days,” Cykel AI chief executive Ewan Collinge said in a statement.
Collinge also highlighted that organisations are now moving beyond the evaluation of AI and into implementation.
"Digital workers are entering the mainstream," Collinge said.
"Our expanding digital worker portfolio positions us well to capture opportunities in the growing AI agent market as we progress through Q3."
In London, Cykel shares rose by around 13% to 3.07p, valuing the small-cap at around £8.2 million.