Acceler8 Ventures (AC8) H1 2024 earnings summary

Executive summary

• Loss after taxation for the six months ended 30 June 2024 was £83,033, compared to £71,918 for the same period in 2023, mainly due to operating expenses and due diligence activities.

• Loss per share was £0.11, up from £0.10 year-over-year.

• No investments or acquisitions have been completed to date; the company continues to pursue opportunities in gaming, media, entertainment, software, technology, industrials, and business services.

• Cash balance as of 30 June 2024 was £52,801, down from £160,441 at 31 December 2023, reflecting ongoing operating costs.

• All AGM resolutions were unanimously passed on 18 June 2024.

Financial highlights

• Administrative expenses for the period were £83,477, compared to £72,679 for the same period last year.

• Interest receivable was £444, down from £761 year-over-year.

• Net cash used in operating activities was £108,086, compared to £127,177 in the prior year period.

• Total equity at 30 June 2024 was £30,926, down from £113,802 at 31 December 2023.

Outlook and guidance

• The company is actively assessing investment and acquisition opportunities in its target sectors, focusing on high-growth businesses considering a listing and seeking to leverage the board's expertise.

• No dividends are anticipated until after the first investment or acquisition is completed.