Mobile Streams hails performance of Streams business
(MOS ) has hailed the performance of its B2B data insight and intelligence platform, Streams, in its half-year results for the six months ended 31 December 2020.
Unaudited revenues for the period were £0.2m compared to £0.3m in 2019 with all revenue from continuing operations. The mobile content and data intelligence firm said Streams’ monthly revenues has now exceeded the net revenue produced by its legacy business.
As at 31 December 2020, Mobile held £1.1m of cash and cash equivalents, with no non-current debt, that’s a 450% increase from cash of £0.2m reported at 31 December 2019. The group reported £0.9m of cash and cash equivalents as at 12 March 2021, with no debt.
Based on the expectations of significant growth for Streams Data and continued tight cost controls, the Company said it expects to reach break-even during the next financial year.
MOS highlighted its positive trading performance, stating that both revenues and customer growth continue to remain ahead of its internal forecast while monthly Streams Data revenue continues to exceed the net revenue brought in via the company’s legacy business.
The Streams Data business which comprises the bespoke data insight, intelligence and visualisation service achieved its first revenues back in June 2020. The Streams SaaS ("Software as a Service") platform which generated initial customer revenues in October, is estimated to generate c.£15,000 in monthly revenue for March, a 67% rise since December.
The group recently unveiled plans to move Streams into the Chinese market through the launch of the Chinese language version of the service which officially launched yesterday.
This marks the first time the Company has launched an additional language version of the Streams platform. As previously indicated back in January this year, the Group said it anticipates launching the Streams Data service in other key global markets during the year.
The Group said it expects to see significant growth in 2021, with additional higher price points to come. Its legacy business continues to perform in line with internal expectations.
Nigel Burton, Non-Executive Director of Mobile Streams, stated, "We are delighted with the performance of the Streams Data business to date. We are seeing ongoing revenue and customer growth for this business and hope to see this trend continue throughout 2021."
For the first time, revenues from the company’s Streams Data have overtaken net revenue from its legacy business. With its pipeline of product development and marketing, the group said it expects to see significant growth in 2021, with additional higher price points to come.
In particular, the company anticipates launching the Streams Data service in other key global markets during the year after recently launching the platform into the Chinese market, one of the largest e-commerce markets in the world, worth an estimated 1.5trn dollars annually.
Meanwhile, the company has informed investors that it has sufficient funds which are expected to cover the Company's working capital requirements for the foreseeable future.
Mobile Streams is a mobile content and data intelligence company which operates globally through its subsidiaries in North America, Latin America, Europe and Asia Pacific.
In November 2019 the Company announced that it would launch a new data insight and intelligence platform, called Streams, based on licensing of the Krunch Data platform, to provide services to the B2B market and target customers in the US, LatAm and Europe.
Following the year end, it announced the launch of the Streams SaaS platform on 6 July, and since 14 October customers have been able to access the service and pay for it online.
The Board believes that the Streams data offering is the largest opportunity for the group to deliver growth in shareholder value via newly developed products and services. The main focus for the current year will be growing and developing the product and sales pipeline.
“The traditional content delivery side of the business still brings in ongoing revenue and therefore will be continued, however the majority of investment going forwards will be in growing the new data insight and intelligence business,” explained Chairman, Burton.
In December 2020, the group announced that it had entered into a partnership with Chinese digital communications agency ANOTHER_. to enter the Chinese market by providing both digital services and introductions to potential clients for the company’s Streams service.
Initially, Streams will be targeted at Chinese companies ‘which have challenges accessing aggregated content and data on western social media’ and that are looking to market their services to western customers. The platform officially launched in China on 14 March 2021.
The Chinese market, which represents one of the largest e-commerce markets in the world, is worth an estimated 1.5 trillion dollars annually.
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