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SEEEN has developed and is commercialising a media and technology platform of services with AI categorisation and response prompts that enable clients to significantly increase the return on their video content. By using SEEEN’s technology, customers can grow views, engagement, and revenues from videos on their website. The Global market demand, especially for video commerce, is expected to grow at a CAGR of 32% to $2.8 trillion by 2028 (source: Reportlinker). The new management’s strategic focus is on commercialising existing technologies, as well as growing its Creator Service Partners (CSP) partner business, which provides services to channels looking to grow their social video audience.

Key Points

  • In December 2022, the new CEO, Adrian Hargrave   was supported by institutions and raised £2.6m at 6p to accelerate the commercialisation.
  • The AI-led, Key Video Moments service drives increased views, engagement, and consequently revenues across client’s video content.
  • Creator Suite 2.0 was recently launched using AI to identify Key Video Moments and insert contextual Shoppable Video Prompts (SVP) and this is showing sales traction with key vertical customers in sport, financial publishing & services
  • December 2022 reported a reduced EBITDA loss to $0.8m on reduced revenue of $3.3m.
  • Net cash, we estimated will be £1.2m at the Interims to June, which are reported at the end of September and should be sufficient for 12 months.
  • Focus on driving higher margin tech sales versus lower margin, legacy sales


Growth Drivers

The focus is on accelerating commercialisation of the core technology with AI-generated Video Moments helping video asset owners increase income and therefore the value of their video library. There are clients’ testimonies illustrating its effectiveness reporting a doubling sale on product pages and up to a 20% Click Through Rates on the Shoppable Video Prompts, which have driven significant additional revenues.

The company also aims to increase its Creator Service Partner (CSP) by adding higher margin channels such as sports, retail, services, financial publishing. There are currently 4 strategic customers publishers,14 vertical market customers, 4 e-commerce led customers. Further announcements seem likely.

Once profitable the organic growth is likely to be leveraged with acquisitions and helped by Adrian’s  former corporate finance experience.

Finals December 2022

The main trend was transition and changing the revenue mix from low margin advertising commission to focus on value added paid for services with a revenue share resulting in  higher margins.  So, turnover of $3.3m is down from $9.8m, but gross margins have improved to 15.2% from, 10.6% and the EBITDA loss reduced to $0.9m from $2.1m.

Comment:  Seeen, own the IP on value adding technology services with a large market opportunity.  Last month, Directors brought shares and the Interims to June should be the start of brighter prospects.

Data Bank

Price  5p (4-6)  
MKt Cap  £5 m  
Share in Issue 93.35m  
Net Cash (Debt) Est £1.2m  
Next Results Interims June 23 Due End September
Last Results Finals December 2022 Revenue $3.3m ($8,5m)  Ebitda loss $0.8m ($1.5m)
Last Funding December 2022 Raised £2.6m@ 6p
Highest Salary £125,000  
IPO Sept 2019 Blockchain Worldwide  45p
Shareholders   Gresham House 29.8%

Dowgate 7.6%

Canaccord 5.1%

Water Intelligence 6.4%    Patrick DeSouza 5.8%

Scott Schlichter  5.7%  Adrian Hargrave 1.1%