Elixirr International plc (AIM:ELIX) reports 23% year-on-year H1 revenue growth and expects to see this strong performance continue for the remainder of the year
LONDON–(BUSINESS WIRE)–Elixirr International plc (AIM:ELIX) (“Elixirr”), the established, global award-winning challenger consultancy, is pleased to announce its interim results for the first half of the financial year ending 30th June 2023. These results coincide with the acquisition of large language model and generative AI acceleration platform, Responsum, bolstering the firm’s services in the emerging technology space.
Financial highlights include:
- H1 revenue increased by 23% to £41.1m (H1 22: £33.4m)
- Adjusted H1 EBITDA increased by 19% to £12.3m (H1 22: £10.4m)
- Adjusted H1 EBITDA margin of 30% (H1 22: 31%)
- Profit before tax increased by 17% to £9.9m (H1 22: £8.4m)
- Adjusted diluted earnings per share increased by 23% to 18.5p (H1 22: 15.1p)
- Net cash position of £19.5m (H1 22: £11.1m)
For more information, please visit the Elixirr newsroom here.
Alongside these interim results, Elixirr has acquired Responsum, bringing AI expertise to the company’s growing suite of digital capabilities. This acquisition is fundamental to Elixirr’s continued focus on emerging technology to ensure that the firm is best positioned to serve clients in today’s changing business world.
Stephen Newton, Founder and CEO, Elixirr commented: “We began this year with great momentum and have continued our progress through the period, leveraging our previous acquisitions to maximise the firm’s overall performance. Our ambition is to become the best digital, data, AI and strategy consultancy in the world, and the diversification we have created across Elixirr over time has proved effective in helping us achieve this. The acquisition of Responsum allows us to engage with our clients in a way that is unique to our competition – combining strategy and execution under one roof, empowered by the tech of tomorrow. This ability to deliver a range of in-demand services, coupled with a growing reputation in the market, has contributed to another set of strong results for the first half of 2023, and we expect to see this performance continue for the remainder of the year.”
The AI market is expected to grow twentyfold by 2030, up to nearly two trillion U.S. dollars, providing huge opportunities for businesses across industries, and an increasing need for support integrating the technology in a valuable way.
Founded in Austin, Texas in 2021 by CEO Steve Steinberg and Adam Hofmann, Responsum helps organisations realise and implement solutions using the latest in AI, Machine Learning and Generative AI models like GPT-4. The platform is used across different industries by sales teams to scale productivity, performance and data hygiene; support teams to reduce costs and improve the customer experience; executives and managers to streamline access to internal data and reporting; and researchers to analyse documents and data at scale.
Elixirr has collaborated with Responsum on a number of client projects over the past year and announced a formal partnership with the company in August 2023. Since announcing the partnership, Elixirr and Responsum are collaborating on over 40 new client opportunities – evidencing the fact that companies all around the world understand the need to embrace AI to remain competitive.
Steve Steinberg, Co-Founder and CEO, Responsum commented: “Generative AI presents huge opportunities for businesses. That’s exactly why we founded Responsum – to help clients unlock the power of this technology to drive efficiency, value and creativity. As part of Elixirr, not only can we now bring our technical expertise to a wider range of businesses across the globe, but also strengthen our offering through the power of the Elixirr brands. Working together over the past year I have also been able to see the cultural alignment between our teams – an entrepreneurial drive in every individual and a real passion for clients’ success. Coming together will give us the best possible opportunity to help more companies reach their full potential and effect real change using AI.”
You can find more about the acquisition of Responsum here.
-ENDS-
About Elixirr: Elixirr is an award-winning global consulting firm working with clients across a diverse range of industries, markets and geographies. Founded in 2009, the firm set out to be the ‘challenger consultancy’ and do things differently than the large corporate consultancies dominating the industry: working openly and collaboratively with clients from start to finish, delivering outcomes based on innovative thinking, not methodology, and treating each client’s business like their own. In 2020, Elixirr listed with AIM on the London Stock Exchange. Following strong organic growth, Elixirr adopted a multi-brand strategy and has since acquired five boutique firms – Responsum, Den, Coast Digital, Retearn and iOLAP – to grow their capabilities, expand into new geographies and markets, access new clients and talent, and more.
Contacts
Katie Shuff
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