StockMarketWire.com - Seeen forecast a first-half loss and said the head of its multi-channel network business, Scott Schlichter, had stood down to pursue other career opportunities.

The company, which 'offers proprietary AI products and solutions to harvest video moments efficiently for brands, creators and publishers' said first-half adjusted losses would be $0.9 million.

That compared to year-on-year losses of $1.1 million.

Seeen said multi-channel network (MCN) revenue rose 39% to $5.1 million. Cash at the end of June was $3.9 million.

Looking forward, it said MCN was entering a seasonally stronger second half.

It added that a loss of its largest channel partner announced in June was not anticipated to significantly impact profits from MCN but improve administration of MCN.

Schlichter had been replaced as head of MCN by Jake Desjarlais.


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