Business
Final Audited Results for year ended 31 Dec 2021
Final Audited Results for year ended 31 Dec 2021.
About this update from Mirriad Advertising Plc
[{"type":"text","content":"\n \n \n 11 May 2022\n \n \n \n \n \n \n \n \n \n Mirriad Advertising plc\n \n \n \n \n \n \n \n \n (\"Mirriad\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Final Audited Results for the year ended 31 December 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n Mirriad, the leading in-content advertising company, announces its final audited results for the year ended 31 December 2021 (\"2021\").\n \n \n \n \n \n \n Financial highlights\n \n \n \n ·\n Broadly maintained year-on-year revenue at £2.0m despite the continuing impact of COVID-19 (2020: £2.2m)\n \n \n ·\n US revenues, the world's largest advertising market, significantly increased by 182% to £884k following investment into sales resource\n \n \n ·\n Operating loss widened to £12.0m (2020 £9.1m) and cash consumption increased to £10.4m (2020: £8.1m) as the Company continued to execute its growth strategy\n \n \n ·\n Strong cash position maintained with net cash at 31 December 2021 of £24.5m\n (2020: £\n 35.4m\n )\n \n \n ·\n Net assets at 31 December 2021 of £24.9m (2020: £35.3m) tracking cash holding\n \n \n \n \n \n \n KPIs\n \n \n \n To further illustrate operating progress of the business, the Company will now report key performance indicators (\"KPIs\") on an annual basis. The three \"supply side\" KPIs will allow to track the wider market adoption of the Mirriad platform and the three \"demand side\" KPIs will allow to track the development of the commercial relationships with agencies, advertisers and partnerships.\n \n \n \n \n \n \n \n \n \n \n KPI\n \n \n \n \n \n \n 2020 (baseline)\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n % Change\n \n \n \n \n \n \n \n \n Supply side:\n \n \n \n 1. Active supply partnerships*\n \n \n 2. Supply partners represented\n \n \n 3. Seconds of content available**\n \n \n \n \n \n \n \n #16\n \n \n #28\n \n \n 282,672 secs.\n \n \n \n \n \n \n \n #25\n \n \n #46\n \n \n 472,754 secs.\n \n \n \n \n \n \n \n +56%\n \n \n +64%\n \n \n +67%\n \n \n \n \n \n \n \n Demand side:\n \n \n \n 1. Active agency relationships\n \n \n 2. Number of advertisers who have run campaigns\n \n \n 3. Strategic and commercials partnership agreements with advertisers and agencies\n \n \n \n \n \n \n \n #14\n \n \n #21\n \n \n -\n \n \n ...