Tech firm CEO bullish after restructure losses

Darren Jobling, CEO of Zerolight

- COREENA FORD Business writer [e-mail]

THE CEO of Newcastle tech company Zerolight expects to see rising revenues and profits after completing a “pivotal” restructure which led to operating losses widening to £3m.

The visual software specialist, based on Newcastle’s Quayside, has traditionally focused on the automotive sector, working with motor manufacturers to provide 3D interactive technology to help launch new cars, while also helping people to digitally customise new vehicles.

Last year, however, the company announced a strategic switch in focus, while also expanding its reach into new sectors with a new product called Omnistream. The new product can be used by anyone that needs to stream a 3D application to a wider audience.

The pivot in strategy led to a restructure which was concluded this January, and has seen employee numbers drop from 73 to 65 in the financial year ended March 25, having employed around 111 two years ago. Turnover was £4.1m, down from £5.8m, while the operating loss was £3.1m, up from £2.4m a year earlier.