Mobile Streams plc AGM Results and Trading Update (6180M)
22 Gennaio 2021 - 11:56AM
UK Regulatory
TIDMMOS
RNS Number : 6180M
Mobile Streams plc
22 January 2021
22 January 2021
Mobile Streams plc
("MOS" or "the Company")
AGM Results and Trading Update
Mobile Streams plc, the AIM quoted mobile content and data
intelligence company, is pleased to provide the results of the AGM
held earlier today, and a trading update.
AGM Results
At the AGM held today at 10:00am, all resolutions were
passed.
Trading update
Trading remains in line with the indications given in the RNS on
16 December 2020.
The Streams Data business, comprising the bespoke data insight,
intelligence and visualisation service which achieved first
revenues in June 2020, and the Streams SaaS ("Software as a
Service") platform which generated initial customer revenues in
October, is contributing increasing revenue to the business on an
ongoing basis, with revenue in December of GBP9,000.
Both revenues and customer growth, remain ahead of our internal
forecast, and monthly Streams Data revenue equalled the net revenue
brought in via the legacy business for the first time in December.
We expect that revenues from Streams Data will overtake net revenue
from the legacy business for the first time this month. In
addition, the business as a whole is now bringing in more revenue
overall per month than at any time since the new management team
has been in place.
This month has already seen the launch of new AI insight
functionality and a significant update to our Streams Data SaaS
website. In addition to this we will also be introducing a new
major new content creation and publishing feature at the end of
this month, enabling users both to create and then to publish
directly from Streams.
With our pipeline of product development and marketing, we
expect to see significant growth in 2021, with additional higher
price points to come. We also anticipate launching the Streams Data
service in other key global markets during the next year.
Mobile business
Revenue for the legacy content business continues to decline
(December GBP9,000), although has remained in line with internal
expectations.
Funding
The Company has cash of GBP1.0m, with no debt. Based on the
expectations of significant growth for Streams Data and continued
tight cost controls, the Company expects to reach break-even in the
next financial year, and therefore these funds are expected to
cover the Company's working capital requirements for the
foreseeable future.
Nigel Burton, Non-Executive Director, said:
"We are pleased with the Streams results to date and expect to
achieve significant growth in the data business in the year
ahead."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
Mobile Streams plc
Nigel Burton, Non-Executive Director
+44 77 8523 4447
www.mobilestreams.com
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
+44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Lucy Williams, Duncan Vasey and Eran Zucker
+ 44 (0) 20 7469 0930
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END
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January 22, 2021 05:54 ET (10:54 GMT)
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