Mirriad Advertising PLC Trading update, KPIs and Notice of Results (2882Z)
January 24 2022 - 2:00AM
UK Regulatory
TIDMMIRI
RNS Number : 2882Z
Mirriad Advertising PLC
24 January 2022
24 January 2022
Mirriad Advertising plc
("Mirriad" or the "Company")
Trading update , KPIs and Notice of Results
Accelerating customer adoption and traction in the key US
Market
Mirriad, the leading in-content advertising company, today
issues a trading update for the year ended 31 December 2021
("FY2021").
Trading Update
Total revenue for FY2021 is expected to be approximately GBP2.0
million.
The Company has seen strong year-on-year growth in the key US
market, with the number of campaigns in the US more than doubling
between FY2020 and FY2021, and the average campaign size also
increasing by more than a third year-on-year.
As a result, US revenue rose by more than 180% to approximately
GBP884k. Of this, approximately 70% was generated in H2 2021,
illustrating substantial momentum in this key advertising market
for Mirriad. European revenues rose by more than 68% to
approximately GBP143K, with 65% of this booked in H2 2021; a
similar pattern to the US.
The Company is building on its strong momentum and adoption in
the US to scale further, with additional investment for the
integration of Mirriad into the media buying ecosystem and business
development hires now expected throughout 2022.
Recent product developments include an important AdTech
partnership in the US that will help accelerate Mirriad's strategy
to make in-content inventory available at scale in industry-leading
digital media buying platforms.
The Company closed the year with a cash balance of GBP24.5
million.
KPIs
In line with the Company's internal strategy, the Board plans to
present a number of operational KPIs in future results statements
to track delivery of key business objectives.
Notice of results
The Company expects to report its final audited 2021 full year
results on 11 May 2022.
Stephan Beringer, CEO of Mirriad , said: "The past two years
have been a testing time for everyone in the advertising and
content industries, but there are encouraging signs that our
markets are now entering a period of growth. At Mirriad, this is
evidenced by strong US revenue trajectory in the second half of
2021 and the notable increase in both deal size and deal
volume.
"Our platform's unique capabilities, including the proven
ability to drive significantly more reach and greater advertising
impact in an era of advertising fatigue and avoidance, continue to
advance. On the demand side, we are working with more partners than
ever before and our content pipeline is expanding accordingly. This
is combined on the supply side with rapidly increasing available
sellable inventory across more content categories. We are also
progressing measures to drive wider adoption, namely the launch of
new propositions including audience-based buying and the initiation
of our programmatic strategy.
"We are positioning ourselves for scale as we pioneer the
nascent in-content advertising market which is rapidly gaining
traction with customers."
END
Market abuse regulation:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
Enquiries:
For further information please visit www.mirriad.com or
contact:
Mirriad Advertising plc
Stephan Beringer, Chief Executive Officer
David Dorans, Chief Financial Officer
Tel: +44 (0)207 884 2530
Financial Adviser, Nominated Adviser and Broker :
Panmure Gordon
Alina Vaskina / James Sinclair-Ford (Corporate Advisory)
Erik Anderson (Corporate Broking)
Tel: +44 (0)20 7886 2500
Financial Communications:
Charlotte Street Partners
Tom Gillingham Tel: +44 (0) 7741 659021
Andrew Wilson Tel: +44 (0) 7810 636995
About Mirriad
Mirriad's award-winning solution unleashes new revenue for
content producers and distributors by creating new advertising
inventory in content. Our patented, AI and computer vision
technology dynamically inserts products and innovative signage
formats after content is produced. Mirriad's market-first solution
seamlessly integrates with existing subscription and advertising
models, and dramatically improves the viewer experience by limiting
commercial interruptions.
Mirriad currently operates in the US, Europe and China.
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END
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