Mirriad Advertising

MIRI · AIM · Financial Services · mcap £0.4m · 0.0p 3 open situations →

Mirriad uses software to insert virtual brand products and signage into existing TV and streaming content, selling the placements to advertisers through media partners. It earns revenue from partner and agency sales in the US, Europe and the Middle East.

Target	Promise	Said	Status
2023
Q4 2023	Begin first-phase implementations with the top US network partner in Q4 2023	7 Nov 2023	✓ Kept
	“After a successful first phase of standard implementations of our solution, which are planned to be initiated in Q4” Also stated 16 Nov 2023 How it developed 7 Nov 2023 Said “After the first phase of programme-based implementation of our format which is planned to be executed in Q4 we look forward to soon start testing our...” 16 Nov 2023 ✓ Kept “After a successful first phase of standard implementations of our solution, which are planned to be initiated in Q4, we anticipate starting to test our...” 16 Nov 2023 Said “After a successful first phase of standard implementations of our solution, which are planned to be initiated in Q4” 24 Jan 2024 ✓ Kept “Agreements in place with supply side partners representing c25% of the total US TV advertising market, up from 8% in Q3 2023” Result January 2024 update reported FY2023 revenue up 31% and US market coverage of about 25% from the major partner agreements. “After a successful first phase of standard implementations of our solution, which are planned to be initiated in Q4, we anticipate starting to test our programmatic capabilities on our Partner Company's platform shortly after that.”16 Nov 2023 · Agreement with top three US entertainment network “Agreements in place with supply side partners representing c25% of the total US TV advertising market, up from 8% in Q3 2023”24 Jan 2024 · Full year trading update
2024
2024-06	Publish FY2023 preliminary results soon after receiving placing proceeds	2 May 2024	✓ Kept
	“The Company intends to publish the Preliminary Results as soon as reasonably practicable following receipt of the net proceeds of the Placing and the Retail Offer.” How it developed 2 May 2024 Said “The Company intends to publish the Preliminary Results as soon as reasonably practicable following receipt of the net proceeds of the Placing and the Retail Offer.” 4 Jun 2024 ✓ Kept “Placing, retail offer and directors' subscription to raise £6.8m (gross) announced on 7 May 2024” Result FY2023 results were published on 4 June 2024 after the placing and general meeting. “Placing, retail offer and directors' subscription to raise £6.8m (gross) announced on 7 May 2024”4 Jun 2024 · Audited Results for year ended 31 December 2023
Q4 2024	Update shareholders on pipeline deals and agency partnerships in Q4 2024	23 Sep 2024	✓ Kept
	“We expect to be able to update shareholders further in Q4 on both the progress of the pipeline deals referenced above as well as the agency partnerships” How it developed 23 Sep 2024 Said “We expect to be able to update shareholders further in Q4 on both the progress of the pipeline deals referenced above as well as the agency partnerships” 20 Nov 2024 ✓ Kept “The Company also announced in the H1 Results that it was holding substantive discussions with large global agency groups to work on partnerships to give...” 7 Jan 2025 ✓ Kept “we are entering the new year with a strong pipeline of opportunities with advertisers and agencies, including the active discussions for larger agency...” Result Updates came on 20 November 2024 and 7 January 2025, covering agency deals and the pipeline. “The Company also announced in the H1 Results that it was holding substantive discussions with large global agency groups to work on partnerships to give their clients access to virtual product placement content clusters packaged around seasonal events and specific contextual parameters.”20 Nov 2024 · Trading Update “we are entering the new year with a strong pipeline of opportunities with advertisers and agencies, including the active discussions for larger agency agreements with two major groups, positioning us for significant gains in the coming year”7 Jan 2025 · Full year trading update
2025
2025	Implement further material cost savings in 2024/2025	4 Jun 2024	✓ Kept
	“we expect to be able to implement further cost savings in H2 2024, with some offset by selected recruitment” Also stated 23 Sep 2024 How it developed 4 Jun 2024 Said “Further material cost savings identified to be implemented in 2024/2025” 28 Jun 2024 Said “Annualised operating cost savings implemented £200k out of £750k potential” 23 Sep 2024 Said “we expect to be able to implement further cost savings in H2 2024, with some offset by selected recruitment” 20 Nov 2024 ✓ Kept “Substantial progress has been made on cost saving initiatives, both as previously announced as well as new initiatives, and the Group run rate cost base is...” 26 Jun 2025 ✓ Kept “Further significant cost saving measures implemented to reduce the Group's monthly cost base to approximately £250,000, with the planned cost savings being...” Result Cost base cut to about £8m annualised by Nov 2024 and to £220k a month by mid-2025 after restructuring. “Substantial progress has been made on cost saving initiatives, both as previously announced as well as new initiatives, and the Group run rate cost base is now c. £8m on an annualised basis.”20 Nov 2024 · Trading Update “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”26 Jun 2025 · Final Results