Mobile Streams plc Trading Update (7726I)
16 Dicembre 2020 - 08:15AM
UK Regulatory
TIDMMOS
RNS Number : 7726I
Mobile Streams plc
16 December 2020
16 December 2020
Mobile Streams plc
("MOS" or "the Company")
Trading update
Mobile Streams plc, the AIM quoted mobile content and data
intelligence company, is, further to the Accounts released earlier
today, pleased to provide a trading update.
Streams Data
The Streams Data business, established by the new Board and
Senior Management team, has progressed from the launch of the joint
venture with Krunch in November 2019 to securing its first
customers for its bespoke data insight, intelligence and
visualisation services in April with first revenues in June,
followed by the launch of the Streams SaaS ("Software as a
Service") platform which generated initial customer revenues in
October. Together these platforms are now, as expected at this
stage, contributing increasing revenue to the business on an
ongoing basis.
Following on from successful marketing campaigns in October and
November we have seen growth of the SaaS service since its launch.
Revenue more than doubled in November albeit from a modest base and
we are pleased to report it is currently trading ahead of our
internal forecasts. In addition, we have seen encouraging customer
growth, again ahead of our internal forecast. Monthly Streams Data
revenue is now approaching the net revenue brought in via the
legacy business.
With our pipeline of product development and marketing, we
expect to see continued growth into 2021, with Streams Data monthly
revenues expected to exceed those of the legacy business during
2021. 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,
although has remained in line with internal expectations.
Funding
The Company has cash of GBP1.1m, with no debt, these funds are
expected to cover the Company's working capital requirements for
the foreseeable future.
Nigel Burton, Chairman, said:
"We are pleased with the Streams results to date and look to
continue growing the data business in the year ahead. Our team has
a strong product development pipeline and marketing plan, both of
which are expected to lead to good growth during 2021.
Additionally, we intend to launch the product in key markets during
the year."
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, Chairman
+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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December 16, 2020 02:15 ET (07:15 GMT)
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