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(Sharecast News) - Insig AI said in an update on Tuesday that trading for the fourth quarter and the full year to 31 March was ahead of prior expectations, with fourth-quarter revenue reaching 249,000 - up 90% on the third quarter and 210% on the second.
The AIM-traded firm said the outturn was 11.2% ahead of guidance issued on 24 March.
It also announced a new client win with a London-based asset manager focused on distressed corporate and asset-backed investments, with over 1bn in assets under management.
The initial engagement, covering data automation and ingestion, includes a licence fee and annual retainer.
While the current scope was not material to revenue, Insig AI said it saw potential for further work from the client this year.
Additionally, the company had received confirmation - subject to final documentation - of an expected engagement with another 1bn -plus London-based asset manager, focused on global equities, to enhance its data automation capabilities.
Earlier in April, Insig AI secured a purchase order from the Financial Conduct Authority for a licence to its Transparency and Disclosure Index, covering UK-listed companies.
"We are pleased that the outturn for the year to March 2025 has been better than our expectations and delighted that the current year has gotten off to the best possible start," said chief executive officer Richard Bernstein.
"Our new sales strategy, which we announced last December, is now bearing fruit; our clearly defined offerings are resonating well with prospects.
"We are also making exciting progress developing new automation tools that leverage our machine-learning and AI capabilities, which we are planning to be able to apply to other verticals."
At 1547 BST, shares in Insig AI were up 15.32% at 30.56p.
Reporting by Josh White for Sharecast.com.
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