Losses have widened at IntelliAM AI Plc as it begins to expand in the United States and eyes a listing on London’s junior AIM market.
The provider of AI-driven software solutions for the manufacturing and engineering sectors – currently listed on the challenger Aquis Stock Exchange – said revenues for the year ended 31st March 2026 climbed 64% to £5.26 million. Annual recurring revenue doubled to £1.65m.
However loss before tax was £1.95m (FY25: loss of £950,000) and adjusted EBITDA loss was £910,000 (FY25: loss of £160,000), which it said “reflected planned investment in product development, sales and customer support, together with the effect of longer sales cycles for larger customer opportunities”.
Cash reserves at the year end dropped to £100,000 from almost £2m a year earlier. IntelliAM said trade receivables were approximately £1.4m at the year end.
During FY26 it completed its first US platform deployments across three manufacturing sites and entered into a strategic partnership with US-based Connection Technology Center.
It also signed a co-development agreement with SKF to integrate IntelliAM’s machine-learning platform with AI-ready lubrication systems.
£510,000 of gross equity funding was raised during the period to support its SKF co-development programme and for general working capital. It also secured a £1m non-binding invoice finance facility.
IntelliAM pointed to other wins including an expansion of its commercial relationship with Hovis; entering the building products vertical with customers including Tarmac, Marshalls, H+H and Knauf across the UK and Japan; securing a multi-site agreement with a major global frozen food manufacturer; and moving its shares to the Apex segment of the AQSE Growth Market.
It also acquired the business and assets of RBM Lubrications & Monitoring Solutions and appointed a US-based chief revenue officer.
The board is actively reviewing a potential admission of the company’s shares to trading on the London Stock Exchange’s AIM market during the second half of 2026.
“FY26 was a year of strong growth and deliberate investment,” said CEO Tom Clayton (pictured).
“We have entered FY27 with a broader customer base, a stronger product offering and commercial platform, and clear routes to growth in the UK and US.
“The RBM acquisition gives us a valuable position in the central belt of Scotland, while the recent £500,000 financing and £1m non-binding invoice finance facility increase our working-capital flexibility.
“Alongside our review of a potential AIM admission, these steps are intended to support disciplined investment in product rollout, US expansion and recurring revenue growth.”
$1.5bn piracy settlement approved against AI giant Anthropic