AGM Trading Update and Notice of Artificial Intelligence (“AI”) Seminar
· Strong growth continues
· Margin progression tracking well
· Significant emerging technology opportunities ahead
GlobalData Plc, the leading provider of industry intelligence, today provides the following update on trading for the period 1 January 2023 to date, ahead of today’s Annual General Meeting.
Group revenue, supported by healthy renewal rates, continues to grow strongly and in line with market consensus. The significant operating leverage in our platform is coming through as expected and currently EBITDA is slightly ahead of market expectations.
Mike Danson, Chief Executive Officer of GlobalData Plc, commented:
“We have started the year well, with our progress underpinned by strong revenue visibility from existing customers and new customer momentum. We remain on track to deliver against our stated objectives. GlobalData has always benefitted from emerging technology, and we are all excited in relation to the early opportunities that generative AI and Machine Learning are presenting. I am pleased to see our colleagues really embracing the potential enhancements this could bring for GlobalData and its customers and we look forward to presenting this opportunity at the AI Seminar in June.”
Artificial Intelligence Seminar for investors and analysts
In line with our strategy and capitalising on our powerful data and insights, we continue to invest in our world class offering by embedding and harnessing emerging technologies. With over 25% of our datasets now wholly-driven by AI / Machine Learning and c.60% of our Software and data science teams working on new product development, this presents a significant opportunity for GlobalData to unlock the potential of its Gold Standard product.
AI-driven tools have been embedded into renewals workflow, helping clients derive more value from their partnership with us and informing internal teams on the growth of client relationships. There is also increasing demand from clients to understand the impact of AI on their industries, and GlobalData is very well positioned to serve their evolving needs through its unrivalled AI research capability.
A short seminar for investors and analysts is planned for June 2023 to showcase recent innovations within GlobalData. Our management team will be joined by several product leaders, who will provide an update on advancements to expand AI-related research and the adoption of AI-powered product capabilities across the Company’s platform. Further detail on the seminar and registration information will follow in due course.