Last checked at 16 Dec 2020 07:15
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 £1.1m, 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