insig ai plc said thursday that it plans to focus on becoming profitable earlier than previously forecast rather than expanding its coverage into more small companies following macroeconomic turmoil in uk markets the datascience and machinelearning company said it had expected a number of contract wins to close before the end of october however a sharp rise in borrowing costs unprecedented selloffs of uk indexlinked government bonds significant uncertainty and liquidity concerns in the market following the uk governments minibudget in late september hit the assetmanagement industry the companys focus market as a result of the turmoil a number of contracts in insigs pipeline didnt complete though many prospects remain active it said the company said it has substantially reduced continuing costs and will prioritize and accelerate the timing of profitability as a result it also said it has reduced its revenue targets as it would require significant further investment and costs whilst it would have been ideal to have continued to expand our coverage into more smaller companies the return on this investment would extend beyond our appetite we prefer to focus on becoming cash positive sooner which we hope to achieve in the second quarter of 2023 chief executive colm mcveigh said shares at 0919 gmt were down 025 pence or 13 at 1875 pence