Mirriad Advertising loss narrows as admin costs down, revenue up

(Alliance News) - Mirriad Advertising PLC on Tuesday reported a narrowed loss as it remained focused on the integration of TripleLift, which offers website monetisation.

The London-based provider of in-content advertising technology said pretax loss narrowed 28% to GBP11.4 million in 2023 from GBP15.8 million in 2022.

Revenue climbed 20% to GBP1.8 million from GBP1.5 million. Cost of sales increased 9.4% to GBP313,000 from GBP286,000, but administrative expenses decreased 24% to GBP13.0 million from GBP17.1 million.

"Crucially, we are actively engaged with TripleLift and other adtech partners to initiate programmatic activation in Q2 2024," the company said.

Mirriad Chief Executive Officer Stephan Beringer said: "The integration with our partners at TripleLift will lead to a 'plug and sell' proposition. Behind these developments are important technical achievements that put our ad-solution at the forefront of the streaming age and are paving the way to programmatic scale and long-term value for Mirriad's shareholders."

Mirriad shares fell 4.0% to 1.09 pence each on Tuesday afternoon in London.

By Tom Budszus, Alliance News slot editor

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