Cykel AI continues focus on AI Agent platform as interim loss narrows

Cykel AI PLC on Tuesday said it remains focused on generating revenue from its artificial intelligence Agent platform, as its interim loss narrowed marginally.

The London-based recruitment platform using "digital workers" said pretax loss narrowed slightly to £1.18 million in the six months to July 31, from £1.19 million a year prior.

Revenue edged up 6.2% to £4,360 from £4,107.

Administrative expenses increased 16% to £1.3 million from £1.1 million, while cost of sales decreased by 91% to £8,418 from £93,279.

Further, Cykel reported finance costs of £7,515, compared to finance income of £574.

Chief Executive Officer Gerald Tritt said: "Looking ahead, the board remains focused on generating further revenues from the AI Agent platform and maintaining financial discipline. The UK and global regulatory landscape for AI continues to evolve, and the board carefully considers these factors in its approach to risk management and strategic planning."

Cykel shares fell 6.9% to 27.00 pence each on Tuesday afternoon in London.

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