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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 £11.4 million in 2023 from £15.8 million in 2022.
Revenue climbed 20% to £1.8 million from £1.5 million. Cost of sales increased 9.4% to £313,000 from £286,000, but administrative expenses decreased 24% to £13.0 million from £17.1 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.
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