Bubblr Inc. reported a modest increase in revenue for the fiscal year ending December 31, 2024, generating $5,349 compared to $2,620 in 2023, marking a growth of approximately 104%. Despite this increase, the company continues to operate at a loss, with a net loss of $1,313,026 for 2024, a decrease from the previous year's loss of $2,650,650. The accumulated deficit now stands at $1,947,851. The company attributes its financial performance to ongoing challenges in developing and marketing its products, which remain critical for achieving significant revenue growth.
Operationally, Bubblr has made significant changes, including a strategic pivot towards a revenue-focused go-to-market strategy centered on its new core products, AI Seek and the Ethical Web Platform. The company is preparing to launch an enterprise-grade version of AI Seek, targeting sectors with stringent data privacy requirements, such as finance and healthcare. The consumer version of AI Seek was launched in 2023 and has been continuously improved. The company aims to secure its first direct enterprise client by the end of the second quarter of 2025.
Bubblr's operational metrics indicate a limited workforce, with only four full-time employees as of December 31, 2024. The company is also focusing on geographic expansion and product adoption, particularly in the education sector, where it plans to establish partnerships to drive the licensing model for AI Seek. The company is optimistic about the market opportunity presented by its products, especially given the growing concerns around data privacy and the restrictions on generative AI tools in corporate environments.
The filing highlights a significant reduction in operating expenses, which fell by 56% to $1,283,412 in 2024 from $2,921,414 in 2023. This decrease was primarily due to lower general and administrative costs, professional fees, and sales and marketing expenses. The company is actively seeking additional financing to support its operations and growth initiatives, as it continues to face liquidity challenges. The outlook remains cautious, with management emphasizing the need for capital to sustain operations and achieve its strategic objectives. The company is also subject to various risks, including regulatory changes and competition, which could impact its future performance.
About Bubblr Inc.
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