Unith (ASX:UNT) clocks 100,000 users for AI products; 86pc jump in June quarter

• Unith (UNT) posts an 86 per cent jump in users for the company’s mobile subscription division to more than 100,000 users
• The company retained user subscriptions at 70 per cent during Q4 FY23
• More than 18,000 hours of user interaction with Unith’s digital humans
• The company also continues to expand in Latin America
• Unith last traded at 2.9 cents

Unith (UNT) has reported an 86 per cent jump in users for the company’s mobile subscription division, now giving the company more than 100,000 users.

Its “Bedtime Stories” and “AstroVIP” apps – largely designed for children and utilising AI tech to create compelling avatars that talk to users – are among the most popular with key markets being Europe and the Middle East.

Subscription retention rates in Q4 FY23 sat at 70 per cent, reflecting an increase in engagement that resulted in more than 18,000 hours of user interaction with Unith’s “digital humans.”

The company finished the June quarter with $4.3 million in cash versus $909,000 spent over the quarter, mainly on marketing and R&D.

Net cash used in investing was $400,000 versus $171,000 netted through a share purchase plan after fees and other repayments.

During Q4, Unith continued to target the US$27 billion e-lottery industry through a collaboration with privately held AZBillions, minted in July.

Unith and AZBillions are exploring whether the latter can adopt Unith’s AI technology to boost the gambling apps used by AZBillions’ subsidiary Xite.

“Unith will develop tailored digital humans that cater specific regions with language proficiency, visual appearances, voices, and facial expressions that align with the unique characteristics of each region,” the company wrote.

Latin America will be the first market where that’s rolled out as the company continues to expand.

“The first half of FY24 is set to be a very exciting period … our mobile subscription division had a strong start to the year with the successful launch of our products in several new markets, and we look to continue to expand our reach further,” Unith CEO Idan Schmorak said.

“We will also introduce an AI-powered digital human to the platform to provide 24/7 customer support to our subscribers.”

Unith last traded at 2.9 cents.