Business
Trading update, KPIs and Notice of Results
Trading update, KPIs and Notice of Results.
About this update from Mirriad Advertising Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2882Z\n Mirriad Advertising PLC\n 24 January 2022\n \n \n \n \n 24 January 2022\n \n \n \n \n Mirriad Advertising plc\n \n \n \n \n \n \n (\"Mirriad\" \n \n or the\n \n \"Company\")\n \n \n \n \n \n \n \n \n \n \n Trading\n \n \n update\n \n \n , KPIs and Notice of Results\n \n \n \n Accelerating customer adoption and traction in the key US Market\n \n \n \n \n \n Mirriad, the leading in-content advertising company, today issues a trading update for the year ended 31 December 2021 (\"FY2021\"). \n \n \n \n \n \n Trading Update\n \n \n Total revenue for FY2021 is expected to be approximately £2.0 million. \n \n \n 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. \n \n \n As a result, US revenue rose by more than 180% to approximately £884k. 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 £143K, with 65% of this booked in H2 2021; a similar pattern to the US. \n \n \n 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. \n \n \n 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. \n \n \n The Company closed the year with a cash balance of £24.5 million.\n \n \n \n \n \n KPIs\n \n \n 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.\n \n \n \n \n \n Notice of results\n \n \n The Company expects to report its final audited 2021 full year results on 11 May 2022.\n \n \n \n \n Stephan Beringer, CEO of Mirriad\n \n , said: \"The past two years have been a testing time for everyone in the advertising and content industries, but there are en...