GenIP has released its maiden unaudited results for its first year of operations, outlining early traction and a healthy cash position.
The AIM-listed firm provides solutions to organisations seeking to accelerate the commercialisation of new technological discoveries through AI-enhanced analytics services.
The Generative AI analytics firm generated $144k revenue in the period to 31 December, producing a gross profit of $37k. New services were launched towards the end of the year, with initial orders and associated revenue reported in maiden results reflecting the early stages of their rollout.
GenIP has since announced orders exceeding $400k, suggesting the company’s marketing efforts are having the desired effect. Recent announcements highlight an active approach to winning new clients through event sponsorship and engaging directly with technology transfer professionals.
Material losses were recorded during its first year of operations, but these were mainly the result of the listing process. Costs relating to the AIM IPO and fundraise totalled $896,322, while the total operating loss for the year was $806,815. This implies that much of last year’s overall loss would have been incurred as part of the IPO rather than ongoing costs.
The accounts revealed around $270k in share-based payments to contractors and staff as part of the IPO, which make up a large part of the IPO costs.
This meant GenIP entered 2025 with just under $1m in cash after raising net proceeds of £1.1m from the IPO. Assuming a similar pace of underlying operational cost has been incurred since, the company will be in a healthy position given the level of recent orders.
The company is confident in its growth trajectory and believes it ‘is well-positioned to drive sustainable growth by catering to B2B clients who benefit from repeat usage of GenIP’s services’.
GenIP’s customers include some of the world’s largest technology companies and leading research organisations such as Universities.
“I am delighted with the progress GenIP has made since its successful start-up in February, followed by the acquisition of Invention Evaluator and Vortechs in June, and our listing in October 2024,” said Lord David Willetts, Chairman of GenIP.
“The Company is now well-positioned to achieve commercial success and expand its global footprint by leveraging our AI-enhanced solutions within the technology transfer market.”
GenIP recently announced a $350,000 order from a Saudi Arabian client and a $65,000 order from a Singapore-based research institution, demonstrating a sharp change in order levels from the early months as a listed company.