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Mirriad Advertising

LN: MIRI

£33.6m market cap

15.75p last close

Mirriad Advertising’s innovative methodology to insert high-impact advertising inventory into content is gaining traction with platforms, agencies and advertisers. Conversion into revenues was slow but is now building. The group’s two-year exclusive contract with Tencent in China is clear validation and it is now in advanced talks with several top-tier US entertainment majors. COVID-19 is seriously impacting advertising spend, but Mirriad’s approach potentially redefines the value equation and it looks well placed. Last summer’s £16.2m fund-raise put the group on a sound financial footing, with end April 2020 net cash of £15.8m (lease debt only).

Investment summary

Mirriad Advertising’s innovative methodology to insert high-impact advertising inventory into content is gaining traction with platforms, agencies and advertisers. Conversion into revenues was slow but is now building. The group’s two-year exclusive contract with Tencent in China is clear validation and it is now in advanced talks with several top-tier US entertainment majors. COVID-19 is seriously impacting advertising spend, but Mirriad’s approach potentially redefines the value equation and it looks well placed. Last summer’s £16.2m fund-raise put the group on a sound financial footing, with end April 2020 net cash of £15.8m (lease debt only).

Sector
TMT
Share price graph
Price performance
%
1m
3m
12m
Actual 68.5 50.0 186.0
Relative* 60.8 60.3 231.1
52-week high/low 22.5p/4.8p
*% relative to local index
Key management
Stephan Beringer CEO
David Dorans CFO
Ryan Mendy IR