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Losses at Big Sofa Technology dropped to £0.9m from £1.8m with revenue growing 78% to £1.1m announced in its interim results for the period ending 30 June 2019.
Administrative expenses came down 20% to £1.8m as a result of the programme of annualised cost savings and technology efficiencies initiated in Q4 2018.
The company saw repeat work undertaken for customers including Ipsos, Procter & Gamble and a large US-based multinational food and beverage company.
Big Sofa also saw growing traction with Ipsos across a number of different global service lines, with revenue generated from Ipsos growing 250% to £0.35m.
Kirsty Fuller, chief executive officer, commented:
'We have made considerable progress in the first half: delivering significant revenue growth from our growing global client base at a higher margin on a smaller cost base.'
'Our client product offering has enabled us to embed ourselves further within Ipsos, our largest client and shareholder, and acquire new global brand-clients. Significantly, some of these new clients are global technology and data companies allowing us to demonstrate the applications of our proprietary technology platform beyond the insight sector and to open-up large new markets for Big Sofa Technologies, which forms a key part of our long-term strategy.'
'The focussed technological development that we have undertaken puts us in a strong position to continue to drive innovation and analysis of video data at scale across a number of sectors.'
At 9:01am: (LON:BST) Big Sofa Technologies Group Plc Ord 3p share price was +0.05p at 4p