Acceler8 Ventures (AC8) H2 2024 earnings summary

Executive summary

• Focused on executing a buy-and-build strategy, assessing investment and acquisition opportunities for sustainable growth both organically and through acquisition.

• Entered heads of terms to acquire Verifyyed, Inc. for £96.8 million in December 2024.

• Announced a proposal to raise up to £750,000 via unsecured convertible loan notes post year-end to support acquisition diligence.

• Directors continue to forgo salary and provide loan capital to support working capital needs.

Financial highlights

• Recorded a loss of £160,480 for 2024, compared to a loss of £55,236 in 2023.

• Loss per share was £0.21 (2023: £0.07).

• Cash reserves at year-end were £113, down from £160,441 in 2023.

• Net liabilities at year-end were £46,364, compared to net assets of £113,802 in 2023.

• No dividend declared or anticipated in the foreseeable future.

Outlook and guidance

• Directors expect to continue sourcing and assessing acquisition and investment opportunities in target sectors.

• Ongoing discussions with financing parties to recapitalise the Group ahead of a formal RTO process.

• Anticipate new funding within four to eight weeks to provide adequate working capital for the next 12 months.