Trading Update
Mirriad Advertising plc reported a trading update for the first quarter of 2026, noting that geopolitical events, specifically the conflict in Iran, negatively impacted sales, preventing an anticipated uptick in February and March. Despite this, the company secured a services agreement with a major UK media conglomerate to provide its virtual product placement solution and help scale incremental revenue. As of March 27, 2026, Mirriad held approximately £675k in cash and cash equivalents and anticipates needing further funding before releasing its annual report.
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Mirriad, a leading provider of virtual product placement ("VPP"), provides a trading update on the first quarter of 2026.
The Company's trading update, announced on 14 January 2026, noted that it was cautiously optimistic about Mirriad's outlook and that it was optimistic for a potentially significant uptick in sales during February and March. This was in part due to expectations discussed with partners and a seasonal sales increase expected during Ramadan in the Middle East. However, geopolitical events, principally the conflict in Iran, regrettably had a major impact on sales during the period, meaning this did not materialize as anticipated.
The Company is pleased to announce that during the quarter it entered into a services agreement (the "Agreement") with one of the UK's largest media conglomerates. Under the terms of the Agreement, Mirriad will provide the company with its VPP solution and try to help them scale incremental revenue through utilizing Mirriad's VPP solution. The client is currently in market to brands for a go-to-market test campaign.
As at 27 March 2026, the Company had cash and cash equivalents of c. £675k. Costs continue to be carefully managed, however it is anticipated that the Company will be required to secure further funding prior to the publication of its annual report and accounts for the year ended 31 December 2025. Further updates will be made at the appropriate time.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.