IN BRIEF: Cykel AI loss widens on one-off reverse takeover expenses

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Cykel AI PLC - London-based online recruitment platform - Pretax loss in the 13 months that ended January 31 widens to £2.6 million from £1.6 million in 2023. This is driven by one-off reverse acquisition expenses of £1.0 million for the year. The firm continues to report negligible revenue. Cykel AI changes its financial year-end to January 31 from its prior December 31 end date.

Also on Monday, Cykel launches autonomous AI sales agent Eve, to ‘revolutionise B2B sales operations and accelerate revenue growth’. Eve adds to Cykel’s existing digital worker portfolio, following the deployment of AI recruitment agent Lucy and the beta release of AI research agent Samson. Cykel notes the global AI agents market is now projected to reach $216.8 billion by 2035, against $5.29 billion in 2023.

Current share price: 2.54 pence, down 5.9% in London on Monday afternoon

12-month change: down 49%

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