IntelliAM: Yorkshire AI firm helping food and drink giants hails latest revenue growth
A South Yorkshire AI firm helping major food and drink manufacturers to increase their productivity levels has reported 58 per cent revenue growth after securing a series of contract extensions and new customer wins.
Dinnington-based IntelliAM has come out of the maintenance engineering and asset management specialist 53North which served half of the world’s top 12 food and beverage groups.
IntelliAM acquired 53North last year after becoming publicly listed and raising £5m from an IPO.
The company uses AI models to harness data from production line machines and provide near-instant feedback on how to improve operating efficiency.
A newly-published trading update for the six months to the end of September this year state that revenue has reached around £2.4m, 58 per cent up on the £0.9m recorded at the same point in 2024.
Annual recurring revenue (ARR) is up to £1.18m compared to £0.14m last year.
A statement from the company said: “IntelliAM has continued to demonstrate strong commercial progress, with significant contract expansions and new customer wins across key markets. The company has further increased its engagements with Müller Milk UK, Kerry Ingredients, Mars Inc., Inspired Pet Nutrition (IPN), and Baxters North America-the latter now including a newly onboarded US site.
"IntelliAM has also achieved increased contract value in Japan and welcomed Lantmännen Unibake UK as a new client, alongside additional customer acquisitions. Collectively, these contract extensions and new partnerships represent over £500,000 in incremental value, underpinning IntelliAM's robust growth momentum and providing a solid platform as the business enters the second half of the financial year.
“The group remains confident in its growth trajectory and re-iterates its outlook statement from the year end March 31 2025, with expected organic revenue growth of 75-90 per cent and ARR of £2m. As previously indicated, the group expects a weighting in revenue generation of one third-two thirds between the first and second half year.
“The board believes the increasing number of customers progressing through the IntelliAM platform lifecycle serves as a strong leading indicator of future profitability and that with a proven product, deepening enterprise relationships, and expanding AI capabilities, the group is well-positioned for sustained, long-term value creation.”
The update comes in advance of unaudited interim results being published later this month.
CEO Tom Clayton said: "IntelliAM is fast establishing itself as one of the leading companies providing actionable AI and machine learning capabilities to major manufacturers globally.
"With ARR increasing to c£1.2m as at September 30, the company remains firmly on track to achieve its full year expectations of reaching £2m ARR. Progress to date continues to validate our strategy of pivoting towards a software-led business. We remain confident in delivering on our growth plans for the second half of the year and are excited by the scale of opportunity in front of us."