HERMESNET 2024 Year in Review: Transforming ESG Data Management

As we step into 2025, we extend our heartfelt wishes for a prosperous and joyful New Year to all our stakeholders. Your continued trust and support have been the cornerstone of our journey, and we look forward to achieving even greater milestones together in the year ahead.

Reflecting on 2024, HERMESNET has experienced a year of extraordinary growth, innovation, and impact. From advancing our ESG data management solutions to expanding our global reach, here are the key highlights of our transformative journey:

1. Financial Transparency
In alignment with our commitment to accountability, we published our annual accounts for the year ending March 31, 2024. These accounts, accessible on Companies House, provide a transparent view of our financial performance and strategic direction. Key highlights include:

• Revenue Growth: Sales revenue increased to £61,354 in March 2024 and we are ending 2024 with £143,000, up from £5,987 in 2023, demonstrating significant traction in our market.
• Investments in Development: Software development costs totalled £315,378, reflecting our focus on innovation and product enhancement.
• Prudent Financial Management: Despite a gross loss of £298,622, we maintained strong cash reserves, showcasing our resilience and commitment to growth.

2. Advancing ESG Data Management
This year, we took significant strides in revolutionizing ESG reporting through cutting-edge AI-driven solutions as part of our Data Insights Project. Key advancements include:

• Enhanced Emissions Management:
• Comprehensive management of Scope 1 and Scope 2 emissions.
• Early-stage testing of 9 out of 15 Scope 3 categories for broader insights.
• AI-Powered Tools:
• Innovations in emissions forecasting, net-zero planning, and trend analysis.
• Seamless Reporting:
• Professional-grade exports in multiple formats, simplifying compliance and strategic planning.

These advancements have transformed how companies manage ESG data, establishing new benchmarks for sustainability reporting.

3. Business Development Success
2024 marked a period of exceptional growth:

• Client Growth: 117+ new companies onboarded in 2024, totaling approximately 300+ users.
• Global Reach: Increasing demand for ESG solutions from clients in the UK, EU, USA, and Asia, reflecting our expanding market influence.

4. Operational Highlights and Investments

• Administrative Costs: Total administrative expenses amounted to £223,664, including employee costs of £138,347 and software infrastructure investments.
• Strategic Partnerships: Collaborated with Google Cloud, leveraging mentorship and AI technologies to refine our platform.
• Global Expansion: Strengthened our presence in Europe and prepared for a strategic launch into the US market.

5. Challenges and Resilience
Despite the annual loss in 2024, driven primarily by upfront software development and administrative expenses, our strategic investments have positioned us for sustainable growth and market leadership.

Looking Ahead
2024 has been a transformative year for HERMESNET, and we remain committed to driving impactful change in ESG data management. As we continue to innovate, we are also actively evaluating opportunities to expand our offerings and better address the evolving needs of our customers and markets.

Our mission to empower businesses with data-driven solutions remains steadfast, and we look forward to building on the strong foundation established this year. With adaptability, collaboration, and innovation as our guiding principles, 2025 promises to be another milestone year.

Explore Our Financials
You can view the full financial statements for Hermesnet Ltd, including detailed accounts and notes, on Companies House. For additional inquiries or insights, please contact us.