Business
Interim Results
Interim Results.
About this update from Satsuma Technology Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nPress Release\n \n30 November 2023\nStreaksAI PLC\n \n(\"Streaks\" or \"the Company\")\n \nInterim results\n \nStreaksAI PLC (LSE: STK), a UK-based generative Artificial Intelligence (AI) platform, announces its unaudited financial results for the six months ended 31 August 2023.\n \nOperating and financial summary\n\n\n\n\n· \n\n\nLaunched second flagship product, 'Streaks Social', to create realistic chatbots based on high-profile influencers, allowing the influencers to scale and engage with their audience using AI and large language models (LLMs), as part of wider expansion into the lucrative artificial intelligence sector.\n \n\n\n\n\n· \n\n\nChanged name to StreaksAI, reflecting the Company's expanded focus on AI technologies across both Streaks Gaming and Streaks Social.\n \n\n\n\n\n· \n\n\nPartnered with community e-commerce platform WeShop to redefine customer service and engagement, enabling brands to build stronger connections with their audiences.\n \n\n\n\n\n· \n\n\nStrengthened Board of Directors with appointment of Philip Blows as Chief Executive Officer.\n \n\n\n\n\n· \n\n\nSigned advertising partnership with William Hill US to generate referral revenues, taking signed commercial partnerships for Streaks Gaming to 14.\n \n\n\n\n\n· \n\n\nLoss before tax amounted to £0.93m reflecting investments in product development. (£3.35m at the start of the year; H1).\n \n\n\n\n\n· \n\n\nNet cash amounted to £1.03m as at 31 August 2023 and £0.71m as at 27 November 2023.\n \n\n\n\n\n \nPost-period highlights\n\n\n\n\n· \n\n\nLaunched 'Streaks Idols', a mass-market product enabling the public to generate their own AI characters with innate monetisation.\n \n\n\n\n\n· \n\n\nRecorded promising early sign-ups to Streaks Idols, ...