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Cykel AI PLC on Thursday hailed interim trading as a period of transition for the business, as it posted improved revenue and a narrowed loss. The London-based recruitment platform reported a pretax loss of £1.2 million for the six months that ended July 31, narrowed from £4.0 million, a year earlier. Shares in the company fell 29% to 60.00 pence on Thursday afternoon in London. Revenue rose to £4,107 from £466, but with Cykel reporting no other operating income, down from £123,000 the year before. Further, Cykel reported £93,279 in cost of sales, up from nothing. The improved bottom line can be owed to a significant reduction in administrative costs as they fell 73% to £1.1 million from £4.1 million. ‘The period marked Cykel’s transition from product development to initial commercialisation. Lucy (Recruitment) launched publicly in March, followed by Eve (Sales) in June. Since Eve’s launch, revenue has grown, and the agent now accounts for the majority of new demo bookings, indicating early traction for sales automation within our agent portfolio. ‘Marketing spend has remained deliberately low during this phase, with resources focused on delivering value to early adopters rather than pursuing aggressive customer acquisition. While this approach has supported product validation, it limits near-term revenue growth,’ said Cykel AI. ‘Looking ahead, we expect Eve to remain central to commercial progress as we continue to develop GTM AI and strengthen our underlying agent infrastructure through TaskOS. These initiatives are intended to support scalability and differentiation, but they require sustained investment and execution. The company’s ability to realise its strategy is dependent on continuing to secure additional funding,’ the company added. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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