Business
Final Results
Final Results.
About this update from Mirriad Advertising Plc
[{"type":"text","content":"\n\nThis 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\"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n26 June 2025\n \n \nMirriad Advertising plc\n \n(\"Mirriad\" or the \"Company\")\n \n \nAudited results for the year ended 31 December 2024\n \n \nMirriad, a leading in-content advertising company, announces its audited results for the year ended 31 December 2024 (\"2024\").\n \nFinancial summary\n \n• Decrease in revenue to £1.00m (2023: £1.80m) following decline in US markets\n \n• Adjusted EBITDA* loss decreased to £8.3m (2023: £10.4m) and cash consumption decreased to £7.4m (2023: £10.5m) following further restructuring in the year\n \n• Statutory loss for the year £8.4m (2023: £10.9m)\n \n• Net cash at 31 December 2024 of £4.8m (2023: £6.1m)\n \n• Net assets at 31 December 2024 of £4.8m (2023: £6.6m), tracking cash holding\n \n* Defined as operating loss adjusted for depreciation, amortisation and share-based payment expense\n \nPost year end highlights\n \n• Significant restructuring of the Group announced on 13 May 2025 including a joint venture agreement relating to US operations with a JV Partner acquiring the exclusive right to market VPP to Mirriad's existing US media partners in return for a one-off £0.2 million payment and a revenue share\n \n• Placing raising £1.5m (gross) together with retail offer raising a further £0.1m\n \n• Further significant cost saving measures implemented to reduce the Group's monthly cost base to approximately £250,000, with the planned cost savings being primarily achieved through a c. 40% reduction in staff numbers, with the majority of headcount reduction being implemented in the UK and US\...