You really do have to have faith in the ‘big data’ movement to be an investor in oil and gas industry ‘natural language generation’ software firm Arria. The company listed on AIM at the end of last year at 100p per share (see here) valuing the company at £102m, This was based on revenues of £210k (6 months to March 2013) and a £7.1m net loss. Arria had previously raised $40m of funding.
Today’s maiden FY results (to 30th Sept. ’13) reveal revenues of £817k and net losses of £12.4m. There was nearly £4m cash in the bank at FY end and a further £4.2m was raised subsequently, some of which was used to acquire the remaining shares in Data2Text, of which Arria acquired 20% in May 2012. Arria burned £8.7m operating cash during the FY.
I can’t make the numbers add up but others obviously can as Arria’s shares currently sit at 125p.