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GenIP PLC on Wednesday reported a loss in its first audited results since listing on London’s AIM market, following its float in October 2024. Its shares dropped 15% to 21.30 pence at midday on Wednesday. The London-based generative AI services provider posted revenue of $123,015 in the period from incorporation on February 23, 2024 to December 31. Cost of sales totalled $107,857, resulting in a modest gross profit of $15,158. After accounting for administrative expenses and other costs, GenIP reported a net loss of $886,829. Operating expenses of $904,000 included $359,000 in share-based payments and $120,000 in staffing costs, driving the operating loss of $888,545. GenIP raised £1.8 million in its October IPO to fund growth and strategic development. As of year-end, the company reported cash and equivalents of $972,364 and net assets of $1.3 million. The company launched enhanced generative AI services in September, including prompt engineering tools and analytics for innovation assessment and executive recruitment. GenIP said it has secured multiple contracts for 2025, and aims to expand further in North and South America and Asia. Chief Executive Officer Melissa Cruz said: ‘GenIP has made strong progress... With several strategic initiatives underway, GenIP is well positioned for expansion and success. ‘As we broaden our global presence and integrate more advanced Generative AI analytics into our services, these enhancements strengthen our offerings - driving innovation accelerating, the commercialisation of new technologies and improving decision making for our customers.’ GenIP will hold its first annual general meeting on June 26 in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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