Business
Unaudited interim results
Mirriad Advertising PLC announced unaudited interim results for the six months ended 30 June 2025. Revenue for H1 2025 was £199k, down from £390k in H1 2024, with £106k from continued European operations and £93k from discontinued US operations. The company's cash balance at the end of June 2025 was £2.4m, compared to £8.3m in H1 2024. The operating loss for the period was £2.7m, an improvement from the £4.2m loss in H1 2024. Loss per share from continuing operations improved to 0.07p from 0.7p. Mirriad completed a fundraise in June 2025, raising gross proceeds of £1.7m. The company reduced its monthly cost base from approximately £650k to £220k. Disclaimer*
About this update from Mirriad Advertising Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.\n \n26 September 2025\n \nMirriad Advertising plc\n \n(\"Mirriad\" or the \"Company\")\n \nUnaudited interim results\n \n \nMirriad, the leading in-content advertising and virtual product placement company, today announces unaudited interim results for the six months ended 30 June 2025. (\"H1 2025\" or the \"Period\").\n \nH1 2025 highlights:\n \nStrategic developments & KPIs:\n \n· Cost-base reduction: Implemented significant monthly cost-base reductions from the c. £650k it stood at prior to placing announced in May, down to a current rate of c. £220k - an improvement on the quoted £250k we targeted at the time of the placing\n· JV Partner performance: Multiple campaigns already secured under the restructured US operations with JV Partner, Rembrand, with significantly stronger revenue anticipated in Q4 aligned to historically seen seasonal demand\n· Regional growth:\no Successfully launched in Austria with a first booking in a popular long-running reality TV franchise. The campaign has already gone into production and is currently scheduled to complete delivery around December\no New agreement in the Middle East\no Currently delivering our largest-ever campaign in the UK and have secured multiple bookings going into H2 2025 in Germany. The company is also exploring and negotiating further expansion opportunities now. As a result of this, coupled with improving market conditions, we are beginning to see an uptake in campaigns booked, and re-emerging visibility of greater demand in our core-focus regions, we expect a significant improvement on revenues in the six months ended 31 December 2025 (\"H2 2025\") and beyond\n· Product development: Progress commencing on the piloting of white-labelling our platform to supply partners, with discussions underway with core European partners. This is expected to enable greater scalability and transaction efficiency and lead to increased sales\n \nFinancial headl...