- Pri0r1ty Intelligence Group
- 30 March 2026 10:21:53
Source: Sharecast
The AI-focused software-as-a-service and consultancy group said its audit for the year ended 30 September would not be completed by the 31 March deadline required under the AIM rules, primarily due to the complexity of accounting for recent acquisitions, including Halfspace Limited.
As a result, trading in its ordinary shares would be suspended from 0730 BST on 1 April until the accounts were published.
Pri0r1ty said the delay reflected the technical requirements associated with preparing its first consolidated accounts following the reverse takeover of Alteration Earth by Pri0r1ty AI in December 2024, as well as the subsequent acquisition of Halfspace in July last year.
That had involved detailed work around IFRS 3 acquisition accounting, including the valuation of intangible assets such as customer relationships and brand, alongside impairment testing under IAS 36 and additional analysis related to financial instruments and contingent consideration.
Despite the delay, the company pointed to operational momentum, reporting contracted revenue of nearly £0.7m for the current financial year to date and more than 200 paying users, which it said demonstrated growing traction for its platform.
“While Pri0r1ty is in its relative infancy for a technology-led business, the board believes the business is in a strong position to expand its user base on the platform as it rolls out AI SaaS solutions to SMEs via an experienced sector specific approach,” said non-executive chairman Marcus Yeoman.
“While a delay to complete technical analysis on acquired businesses for accounting consolidation purposes is frustrating, the growing revenue pipeline demonstrates that the diversified business model is delivering results and we look forward to publishing our accounts in the coming weeks and to providing further business updates as we progress through the current financial year.”
At 0904 BST, shares in Pri0r1ty Intelligence Group were down 10% at 1.8p.
Reporting by Josh White for Sharecast.com.
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