By Najat Kantouar
Seeen PLC, the U.K. media-and-technology platform, has reported a narrowed pretax loss for the six months ended June 30. This improvement can be attributed to higher profits in its technology business, which resulted from increased investments in its sales team.
Improved Financial Performance
The company’s pretax loss for the period was $1.53 million, compared with $1.57 million for the same period last year. While the revenue fell from $1.9 million to $1.1 million, the adjusted loss before interest, taxes, depreciation, and amortization improved to $300,000 from $400,000.
Positive Outlook for Customer Traction
Chief Executive Adrian Hargrave expressed confidence in the company’s future prospects, stating that they have delivered on their outlined strategy and achieved significant progress in customer sales and growing the pipeline. Despite potential macroeconomic headwinds, Seeen PLC expects to continue accelerating its customer traction.
The company anticipates a strong customer pipeline throughout 2023 and 2024, with customers having the potential for annual revenue exceeding $2 million for the creator service partner business.
