Proactiveinvestors United Kingdom Mirada PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Mirada PLC RSS feed en Wed, 26 Jun 2019 12:52:01 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - New EUR1.3m loan facility ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190604160504_14098435/ Tue, 04 Jun 2019 16:05:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190604160504_14098435/ <![CDATA[Media files - Mirada PLC expects to post positive earnings as sales exceed expectations ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13332/mirada-plc-expects-to-post-positive-earnings-as-sales-exceed-expectations-13332.html Tue, 14 May 2019 12:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13332/mirada-plc-expects-to-post-positive-earnings-as-sales-exceed-expectations-13332.html <![CDATA[RNS press release - Mirada to present at Mello 2019 ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190510112128_14069925/ Fri, 10 May 2019 11:21:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190510112128_14069925/ <![CDATA[RNS press release - Mirada to present at Mello 2019 ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190510070006_14069066/ Fri, 10 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190510070006_14069066/ <![CDATA[News - Mirada breaks back into the black as sales swell ]]> https://www.proactiveinvestors.co.uk/companies/news/219241/mirada-breaks-back-into-the-black-as-sales-swell-219241.html Mirada PLC (LON:MIRA) said it expects to break even at an underlying level as the over-the-top TV software designer generated higher sales than expected over the past 12 months.

The AIM-listed company totted up revenues of roughly $12.3mln over the year to 31 March, up 40% on the previous year as major customer izzi Telecom in Mexico continued to roll out the Iris multiscreen product to more of its customers.

WATCH: Mirada PLC expects to post positive earnings as sales exceed expectations

As a result, adjusted underlying earnings (EBITDA) are expected to move back into the black at $0.6mln from the $1.1mln loss in the prior year. Net debt was also slashed to $4.9mln by the end of March from $11.7mln a year ago after the £6mln loan capitalisation and equity funding completed in September 2018.

Chief executive Jose Luis Vazquez said: "Mirada has delivered a year of strong growth in both revenue and EBITDA, which I am pleased to say is above board expectations.

Contract wins

“This growth has been underpinned by new contract wins and the excellent work we continue to carry out with our clients. The board is confident in the outlook for the new financial year, as well as the long-term prospects of the company."

Crucial to the growth in revenues, Mexican telecoms giant izzi has extended the deployment of Mirada technology to more than 2mln set-top boxes as it has begun to roll out Iris to its mid- and top-tier customers.

There have also been commercial launches of Iris in Bermuda and Bolivia, with Mongolia’s Skytel planning to go live later in 2019 and Mirda “actively participating in several other negotiations” to launch products with potential new customers in different regions around the world.

A second office in Spain had been opened with the aim of keeping costs down, Mirada said, with the coastal city of Castellón providing “fast and easy access” from its Madrid office and a new pool of staff.

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Mon, 29 Apr 2019 08:17:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219241/mirada-breaks-back-into-the-black-as-sales-swell-219241.html
<![CDATA[RNS press release - Year End Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190429070011_14054528/ Mon, 29 Apr 2019 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190429070011_14054528/ <![CDATA[News - Mirada shares jump as it launches Iris multiscreen service for Digital TV Cable in Bolivia ]]> https://www.proactiveinvestors.co.uk/companies/news/217717/mirada-shares-jump-as-it-launches-iris-multiscreen-service-for-digital-tv-cable-in-bolivia-217717.html Mirada PLC (LON:MIRA) shares jumped higher on Tuesday after the firm announced the commercial launch of Iris, a multiscreen solution for its contracted service with Bolivian partner Digital TV Cable Edmund.

Iris allows Digital TV Cable's subscribers to watch live and on-demand content across all devices, with the seamless user experience and advanced functionalities.

It is being delivered under a five-year contract based on Mirada's software as a service (SaaS) model, structured in such a way that Mirada receives long-term recurring revenue streams. In addition to initial set-up fees, Mirada will receive monthly revenues from subscriber-based license fees and the potential ongoing deployment of new features and services.

WATCH: Mirada showing 'healthy growth' as adoption of its technology accelerates

Mirada says the service is aiming to be on close to a million devices over a gradual five-year roll-out.

“The continuing rapid growth of the Bolivian TV market and the potential for increased subscribers makes this a very exciting project for Mirada and represents another high-profile endorsement of our technology," said José Luis Vázquez, Mirada chief executive.

Edmund Daher, Digital TV Cable president, meanwhile, added: "We are delighted to launch Mirada's Iris multiscreen solution across our network, which will allow our subscribers to access a multitude of new features across their devices, creating a seamless user experience.

“Access to Mirada's superior data intelligence platform will also give us the tools to properly analyse the way our content is consumed, such that we are better able to give our customers what they want when they want it."

In late morning trading, shares in Mirada were up 28% to 0.80p.

 -- Adds share price --

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Tue, 02 Apr 2019 07:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217717/mirada-shares-jump-as-it-launches-iris-multiscreen-service-for-digital-tv-cable-in-bolivia-217717.html
<![CDATA[RNS press release - Commercial launch of Iris in Bolivia ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190402070019_14024567/ Tue, 02 Apr 2019 07:00:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190402070019_14024567/ <![CDATA[Media files - Mirada Plc showing 'healthy growth' as adoption of its technology accelerates ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12003/mirada-plc-showing--healthy-growth--as-adoption-of-its-technology-accelerates-12003.html Mon, 28 Jan 2019 14:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12003/mirada-plc-showing--healthy-growth--as-adoption-of-its-technology-accelerates-12003.html <![CDATA[RNS press release - Mirada to present at Growth and Innovation Forum ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190123070005_13943390/ Wed, 23 Jan 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190123070005_13943390/ <![CDATA[News - Mirada says Iris multiscreen solution commercially launched in Bermuda by ATNi unit ]]> https://www.proactiveinvestors.co.uk/companies/news/212566/mirada-says-iris-multiscreen-solution-commercially-launched-in-bermuda-by-atni-unit-212566.html Mirada Plc (LON:MIRA) has announced the commercial launch of its Iris multiscreen solution for One Communications, the leading telecommunications provider in Bermuda owned by US investment firm ATN International Inc.

The provider of integrated software solutions for digital TV operators and broadcasters said the commercial rollout is a successful result of the new contract win announced on 29 August 2017 and will be followed by other deployments in ATNi-owned telecommunication providers.

WATCH: Mirada Plc showing 'healthy growth' as adoption of its technology accelerates

It added that the deployment of Mirada's multiscreen technology across One Communications' network is the biggest since the launch of Iris for izzi telecom in Mexico.

The group said it is being accompanied by an extensive marketing campaign on behalf of One Communications across Bermuda, a territory that benefits from a TV penetration rate of 98% and one of the highest levels of GDP per capita in the world.

The company pointed out that the product - to be commercialised under the brand FiberWire TV – will allow subscribers to view live and cloud DVR content across advanced hybrid set-top boxes, smartphones, tablets and laptops, with a user interface working seamlessly utilising Mirada's Inspire user interface.

Following the successful launch in Bermuda, Mirada said it expects to replicate the deployment of the FiberWire TV components across the US Virgin Islands with Viya, another operator owned by ATNi.

In addition, the group continued, other affiliated TV operations in the Caribbean are being planned in the near future.

José Luis Vázquez, Mirada’s CEO commented: "We are thrilled to announce yet another commercial launch for our Iris multiscreen technology, this time with One Communications in Bermuda.

“We look forward to seeing this new location enjoy the ultimate viewing experience provided by our Iris multiscreen technology and working alongside ATNi for further upcoming projects."

At the start of December, Mirada unveiled the first commercial deployment of its complete Iris multiscreen solution in Asia after confirming the signing of a contract with Sky Media Corporation LLC, a subsidiary of Skytel LLC, a leading communications service provider in Mongolia.

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Tue, 15 Jan 2019 07:46:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212566/mirada-says-iris-multiscreen-solution-commercially-launched-in-bermuda-by-atni-unit-212566.html
<![CDATA[RNS press release - Commercial Launch of Iris in Bermuda ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190115070006_13934368/ Tue, 15 Jan 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20190115070006_13934368/ <![CDATA[News - Mirada shares surge on return from suspension; half-year revenue jumps 61% ]]> https://www.proactiveinvestors.co.uk/companies/news/210802/mirada-shares-surge-on-return-from-suspension-half-year-revenue-jumps-61-210802.html Mirada PLC (LON:MIRA) posted a 61% rise in sales in the first half of its financial year as demand for its broadcast software and solutions surged.

Shares in the AIM company surged on Friday afternoon, having been suspended earlier in the week pending confirmation of a new contract win.

That contract, with leading Mongolian telecoms service provider Skytel, was confirmed this morning.

READ: Mirada unveils first commercial deployment of Iris multiscreen solution in Asia after signing contract with Skytel in Mongolia

For the six months to September 30, revenue climbed to US$5.57mln (H1 17: US$3.47mln), while underlying losses narrowed to US$0.12mln (H1 17: US$1.20mln), even with an extra US$1.12mln spent on marketing and operation costs.

Net debt also dropped considerably to US$6.52mln, from US$11.7mln at the end of March.

The major driver behind the improved half-year performance was an increase in services provided to Mexican telecoms group izzi Telecom during the World Cup over summer.

Mirada also said it had seen a “significant increase” in the rate of installation of new licences.

“Mirada is showing healthy growth through the increased adoption of its technology across its customer base, resulting in increased revenues and margins, and providing return on the investment the group is making on its products,” said chief executive José Luis Vázquez.

“Our level of recognition in the market has increased, demonstrated by the engagement with Indra for a global collaboration in the Pay TV business and our first contract win in Asia with Skytel.

He added: “These are promising signs that demonstrate how robust our proposition is and we expect more deals to come in the next few months.”

Shares jumped 16% to 0.78p late on Friday afternoon.

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Fri, 07 Dec 2018 15:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210802/mirada-shares-surge-on-return-from-suspension-half-year-revenue-jumps-61-210802.html
<![CDATA[RNS press release - Restoration of Trading ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207151725_13896377/ Fri, 07 Dec 2018 15:17:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207151725_13896377/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207151003_13896372/ Fri, 07 Dec 2018 15:10:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207151003_13896372/ <![CDATA[News - Mirada unveils first commercial deployment of Iris multiscreen solution in Asia after signing of contract with Skytel in Mongolia ]]> https://www.proactiveinvestors.co.uk/companies/news/210772/mirada-unveils-first-commercial-deployment-of-iris-multiscreen-solution-in-asia-after-signing-of-contract-with-skytel-in-mongolia-210772.html Mirada Plc (LON:MIRA) has unveiled the first commercial deployment of its complete Iris multiscreen solution in Asia after confirming the signing of a contract with Sky Media Corporation LLC, a subsidiary of Skytel LLC, a leading communications service provider in Mongolia.

The AIM-listed provider of integrated software solutions for Digital TV operators and broadcasters said Skytel has chosen the Iris for a new generation pay-TV service that will deliver a cutting-edge viewing experience across all devices.

READ: Mirada says close to signing contract with leading communications service provider in Mongolia

The company said this new project will be conducted in two phases, with phase one being the roll-out of an over-the-top (OTT) TV solution to enable Skytel customers to watch live, catch-up and on-demand content on their smart-device of choice.

It added that, following the successful launch of phase one, which is expected to occur towards the end of the first-quarter of 2019, Skytel plans to expand its offering of Iris to Internet protocol TV (IPTV) set-top boxes and other connected devices in phase two.

Mirada noted that over the past five years, the total number of internet subscribers in Mongolia has grown by more than 60%, suggesting great potential for Skytel's OTT offering.

It also pointed out that total IPTV subscribers in the Mongolian pay TV market have more than doubled, having increased by 116%, since 2014.

José Luis Vázquez, Mirada’s CEO commented: "It is fantastic to see yet another established operator choose our Iris technology to power their service to subscribers, in what is a new and exciting region for Mirada to enter.

“We are thrilled to announce this latest contract and we look forward to seeing the results of what we are sure will be a long and fruitful partnership with Skytel."

Mirada shares remained suspended on AIM pending publication of their latest results expected in the week beginning December 17.

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Fri, 07 Dec 2018 10:42:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210772/mirada-unveils-first-commercial-deployment-of-iris-multiscreen-solution-in-asia-after-signing-of-contract-with-skytel-in-mongolia-210772.html
<![CDATA[RNS press release - New Contract Win ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207101049_13895791/ Fri, 07 Dec 2018 10:10:49 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181207101049_13895791/ <![CDATA[News - Mirada says close to signing contract with leading communications service provider in Mongolia ]]> https://www.proactiveinvestors.co.uk/companies/news/210669/mirada-says-close-to-signing-contract-with-leading-communications-service-provider-in-mongolia-210669.html Mirada PLC (LON:MIRA) has revealed that it is close to signing a contract with Skytel LLC, a leading communications service provider in Mongolia, in an email of its draft interim results released in error to a number of third parties.

The AIM-listed provider of integrated software solutions for Digital TV operators and broadcasters, disclosed the contract news in a statement explaining why trading in its shares on AIM had been temporarily suspended from 8:40am on Tuesday.

READ: Mirada signs its largest partnership deal to date with global technology and consulting company Indra

The company pointed out that it was due to announce its unaudited interim results for the six months ended 30 September 2018 during the week commencing 17 December 2018. 

However, it added, it has come the group’s attention that a draft of the interim results statement was distributed by email in error to a number of third parties on the morning of 6 December 2018. 

The firm said distribution of this draft interim results statement was not authorised by the company and was an inadvertent error by its PR adviser.

Mirada noted that the draft interim results statement made reference to a contract win with Skytel, for which the firm expects to receive a signed copy imminently, with an announcement to be made at that time providing further details. 

It added that trading in its shares will remain suspended on AIM pending announcement of the Skytel contract and then the company's interim results.

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Thu, 06 Dec 2018 11:42:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210669/mirada-says-close-to-signing-contract-with-leading-communications-service-provider-in-mongolia-210669.html
<![CDATA[RNS press release - Statement re. Suspension ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181206101156_13894074/ Thu, 06 Dec 2018 10:11:56 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181206101156_13894074/ <![CDATA[RNS press release - Suspension - Mirada Plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181206084005_13893982/ Thu, 06 Dec 2018 08:40:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181206084005_13893982/ <![CDATA[News - Mirada signs its largest partnership deal to date with global technology and consulting company Indra ]]> https://www.proactiveinvestors.co.uk/companies/news/210017/mirada-signs-its-largest-partnership-deal-to-date-with-global-technology-and-consulting-company-indra-210017.html Mirada Plc (LON:MIRA) shares jumped higher on Tuesday following news it has signed a significant partnership agreement with global technology and consulting company Indra Sistemas SA, its largest partnership deal to date.

The AIM-listed audio-visual content interaction specialist said Spain-listed will act as a global reseller of Mirada's cutting-edge digital TV products with initial activities underway in South East Asia.

READ: Mirada expects World Cup to boost 2019 revenues after robust 2018 results

The firm said the partnership provides the potential for Mirada to greatly increase its geographic reach in terms of sales and marketing.  

It added that Indra had been seeking a digital TV partner to complement the product and services portfolio it provides to telecoms and media operators as prime contractor.

The company said it selected Mirada owing to the scalability and advanced capabilities of its Iris Multiscreen product, which can be offered to both low and high-volume operators, as well as serve different tiers of their subscribers in terms of revenues.

José Luis Vázquez, Mirada’s commented: "With Indra having a global presence and a highly-regarded reputation globally, the partnership plays an integral part in Mirada's strategy to expand into new markets.

“This is the largest partnership we have signed to date and we are excited about the possibilities it presents."

In morning trading, Mirada shares were 10.7% higher at 0.78p.

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Tue, 27 Nov 2018 09:45:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210017/mirada-signs-its-largest-partnership-deal-to-date-with-global-technology-and-consulting-company-indra-210017.html
<![CDATA[RNS press release - Reseller partnership with Indra ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181127093004_13881707/ Tue, 27 Nov 2018 09:30:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181127093004_13881707/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181031170001_13850178/ Wed, 31 Oct 2018 17:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181031170001_13850178/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181023140001_13839370/ Tue, 23 Oct 2018 14:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181023140001_13839370/ <![CDATA[RNS press release - Posting of annual report ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181004161550_13817228/ Thu, 04 Oct 2018 16:15:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181004161550_13817228/ <![CDATA[RNS press release - Result of GM and change to total voting rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181004153003_13817184/ Thu, 04 Oct 2018 15:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181004153003_13817184/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181001070006_13810158/ Mon, 01 Oct 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20181001070006_13810158/ <![CDATA[News - Mirada's switch to a new business model should boost recurring revenues ]]> https://www.proactiveinvestors.co.uk/companies/news/206177/mirada-s-switch-to-a-new-business-model-should-boost-recurring-revenues-206177.html Audio-visual interaction specialist Mirada Plc (LON:MIRA) is leaning heavily on its main shareholder while it develops its order pipeline and the Mexican economy recovers.

Kaptungs, a substantial shareholder of Mirada, is pumping £3mln into the over-the-top TV software specialist by subscribing for 3mln shares at 1p each.

READ Mirada set for cash-for-shares infusion at substantial premium

The company has also entered into a conditional agreement with Kaptungs in respect of the capitalisation of an outstanding £3mln loan facility, which will result in Mirada's obligation to repay the 2018 secured facility being waived, while Kaptungs will receive another 300mln Mirada shares.

If the proposed share issues are approved by shareholders, Kaptungs would hold around 67.35% of the enlarged issued share capital of Mirada; Ernesto Tinajero, through his interest in Kaptungs, would, therefore, be beneficially interested in around 87.21% of Mirada.

Tinajero is a long-term supporter of the company. Between 1996 and 2003, he was a majority shareholder, chairman and chief executive officer of Group Cable TV (Cablecom), the third largest multiple systems operator in Mexico. Cablecom was a customer of Mirada and is now part of the Televisa Group, a current major customer of Mirada.

Little alternative to the dilution of existing shareholders

In an ideal world, Tinajero’s stake would not be so high; existing shareholders are no doubt unhappy about their stakes being substantially diluted by the issue of new equity but there was little alternative given management’s decision to make the transition to a new business model.

The new operating expenditure business model, whereby Mirada provides subscriber-based licences on a 'software-as-a-service' basis; makes life easier for customers, through lower set-up fees, but requires a significant initial working capital commitment from Mirada.

READ Mirada expects World Cup to boost 2019 revenues after robust 2018 results​

Customers perceive that the model is aligned with their business plans, increasing Mirada's chance to land new deals, chief executive Jose Luis Vazquez said in the company’s full-year results statement.

Revenue in the year to the end of March 2018 increased to US$8.82mln from US$8.49mln the year before, lifted by contracts wins with ATN International in the Caribbean and Digital TV Cable Edmund in Bolivia as well as the revaluation of the US dollar against the euro, which contributed US$0.63mln to revenues.

Revenues from Mexican telecoms giant izzi Telecom, which uses Mirada’s Iris multi-screen solution, fell as it decreased investments in foreign goods and services due to a stronger dollar against the peso. The peso weakened following the election of US President Donald Trump, who wants to build a wall at the Mexican border.

However, Mirada said the situation “normalised” after a few months with higher confidence in the market during the second half of 2017.

Gross profit rose to US$7.94mln from US$7.88mln last year while the net loss narrowed to US$4.87mln from US$7.10mln a year ago.

"Mirada participated in a significant number of advanced stage tenders during the year and is seen as an increasingly relevant supplier as new bids appear in the market. I am glad to say that we currently have a strong pipeline in terms of the number of opportunities we are participating in. This pipeline and an increasing number of successful references is helping us secure new opportunities and we are confident of announcing new relevant contract wins in the near future," said Jose Luis Vazquez, the chief executive officer of Mirada.

What is the Iris solution?

Mirada's Iris TV Everywhere solution enables content to be viewed across set-top boxes, smartphones and tablets.

All of them working seamlessly through Mirada's state-of-the-art Inspire user interface.

Subscribers enjoy multi-screen viewing, the ability to pause viewing on one device and resume viewing on another, as well as access to more content and on-demand TV.

Mirada's products and solutions have been deployed by some of the biggest names in digital media and broadcasting including Televisa, Telefonica, Sky, Virgin Media, BBC, ITV and France Telecom.

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Mon, 01 Oct 2018 00:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206177/mirada-s-switch-to-a-new-business-model-should-boost-recurring-revenues-206177.html
<![CDATA[News - Mirada expects World Cup to boost 2019 revenues after robust 2018 results ]]> https://www.proactiveinvestors.co.uk/companies/news/205959/mirada-expects-world-cup-to-boost-2019-revenues-after-robust-2018-results-205959.html Audio-visual interaction specialist Mirada PLC (LON:MIRA) reported an increase in full year gross profit and revenue, buoyed by contract wins and foreign exchange tailwinds.

Gross profit for the year to 31 March 2018 rose to US$7.94mln from US$7.88mln last year and revenue increased to US$8.82mln from US$8.49mln.

The net loss narrowed to US$4.87mln from US$7.10mln a year ago.

Revenues were lifted by contracts wins with ATN International in the Caribbean and Digital TV Cable Edmund S.R.L. in Bolivia as well as the revaluation of the US dollar against the euro, which contributed US$0.63mln.

Mirada said its new business model with lower set-up fees led to recurrent long-term revenues from subscriber-based licence fees on software as a service (SaaS) agreements.

READ: Mirada set for cash-for-shares infusion at substantial premium

Revenues from Mexican telecoms giant izzi Telecom, which uses Mirada’s Iris multi-screen solution, fell as it decreased investments in foreign goods and services due to a stronger dollar against the peso. The peso weakened following the election of US President Donald Trump, who wants to build a wall at the Mexican border.

However, Mirada said the situation “normalised” after a few months with higher confidence in the market during the second half of 2017. 

World Cup to boost revenues this year

Ahead of the FIFA World Cup in June and July, demand for professional services from izzi and other customers rose. Mirada said this will “positively impact” revenues for the current fiscal year.

Chief executive Jose Luis Vazquez said: "Mirada participated in a significant number of advanced stage tenders during the year and is seen as an increasingly relevant supplier as new bids appear in the market.”

He added: “I am glad to say that we currently have a strong pipeline in terms of the number of opportunities we are participating in. This pipeline and an increasing number of successful references is helping us secure new opportunities and we are confident of announcing new relevant contract wins in the near future."

Mirada secured £4.7mln in debt facilities from Kaptungs, Minles and Kronck in 2018 and plans to use the financing to support new opportunities.

Cash at bank increased to US$1.94mln from US$0.28mln last year, mainly due to a £3mln facility received from Kaptungs in March 2018. 

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Fri, 28 Sep 2018 09:11:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205959/mirada-expects-world-cup-to-boost-2019-revenues-after-robust-2018-results-205959.html
<![CDATA[RNS press release - Final Results for the Year Ended 31 March 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180928070011_13808044/ Fri, 28 Sep 2018 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180928070011_13808044/ <![CDATA[News - Mirada set for cash-for-shares infusion at substantial premium ]]> https://www.proactiveinvestors.co.uk/companies/news/204997/mirada-set-for-cash-for-shares-infusion-at-substantial-premium-204997.html Kaptungs, a substantial shareholder of Mirada Plc (LON:MIRA), is pumping £3mln into the over-the-top TV software specialist by subscribing for 3mln shares at 1p each.

The company has also entered into a conditional agreement with Kaptungs in respect of the capitalisation of an outstanding £3mln loan facility, which will result in Mirada's obligation to repay the 2018 secured facility (see linked story below) being waived, while Kaptungs will receive another 300mln Mirada shares.

READ: Mirada arranges new loan facility with major shareholder

If the proposed share issues are approved by shareholders, Kaptungs would hold around 67.35% of the enlarged issued share capital of Mirada; Ernesto Tinajero, through his interest in Kaptungs, would, therefore, be beneficially interested in around 87.21% of Mirada.

Tinajero is a long-term supporter of the company. Between 1996 and 2003, he was a majority shareholder, chairman and chief executive officer of Group Cable TV (Cablecom), the third largest multiple systems operator in Mexico. Cablecom was a customer of Mirada and is now part of the Televisa Group, a current major customer of Mirada.

The general meeting to vote on the proposals will be held on October 4.

In explaining the reasons for the proposals, the company said it would support its “operating expenditure” (opex) business model, whereby it provides subscriber-based licences on a 'software-as-a-service' basis; while this makes life easier for customers, through lower set-up fees, the model requires a significant initial working capital commitment from Mirada.

The directors believe that a sufficiently strengthened balance sheet will enhance Mirada's standing in its industry and thereby assist the conversion of opportunities in its sales pipeline. The board also believes that it is important that the company has sufficient funds to cover increasing demand for professional services projects from customers or to mitigate potential delays in projects.

Shares in Mirada closed at 0.68p on Friday, so the new shares are being issued at a significant premium to the prevailing market price.

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Mon, 17 Sep 2018 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204997/mirada-set-for-cash-for-shares-infusion-at-substantial-premium-204997.html
<![CDATA[RNS press release - Proposed loan capitalisation & subscription & GM ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180917070007_13792273/ Mon, 17 Sep 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180917070007_13792273/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180904070016_13777474/ Tue, 04 Sep 2018 07:00:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180904070016_13777474/ <![CDATA[RNS press release - TR-1: notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180903070008_13775638/ Mon, 03 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180903070008_13775638/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180831170002_13775349/ Fri, 31 Aug 2018 17:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180831170002_13775349/ <![CDATA[RNS press release - Result of general meeting and total voting rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180829151057_13771847/ Wed, 29 Aug 2018 15:10:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180829151057_13771847/ <![CDATA[News - Mirada consortium to take majority control through loan conversion ]]> https://www.proactiveinvestors.co.uk/companies/news/202562/mirada-consortium-to-take-majority-control-through-loan-conversion-202562.html Shareholders in group Mirada PLC (LON:MIRA) have been asked to approve majority control passing to its three main backers.

The over-the-top streaming software group borrowed US$1.7mln from a consortium of major shareholder Ernesto Tinajero, Enrique Septien, and Luis Martinez in November via a convertible loan.

READ: Mirada backers show faith as Mexico recovers​

Mirada says it cannot pay the money back at present, so the consortium wants to exercise its subscription right and convert into equity.

Added to their existing holdings, that would give the trio a 66% stake.

An application has also been made for a whitewash resolution, which exempts the consortium from making a mandatory bid for the outstanding shares it does not already own.

In a trading update, Mirada said revenues for the year to March would be US$8.8mln, slightly higher than the year before, in spite of disruption in Mexico caused by the election of Donald Trump.

Mexico is doing much better this trading year, with licence fees expected to improve from izzi Telecom, its customer in Mexico.

Izzi Telecom allowed all of its customer base access to the Mirada OTT service during the World Cup, allowing them to watch the football on mobiles phones and tablets.

The ATNi and Digital TV Cable deployments in the Caribbean and Bolivia are on track, added the company's statement.

Net debt at the end of June was US$11.8mln.

Tinajero has indicated he will continue to support the company financially until the material revenues expected for the current contracts start to come through, the company statement added.

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Thu, 09 Aug 2018 08:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202562/mirada-consortium-to-take-majority-control-through-loan-conversion-202562.html
<![CDATA[RNS press release - Trading update & GM re loan to equity conversion ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180809070009_13748994/ Thu, 09 Aug 2018 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180809070009_13748994/ <![CDATA[RNS press release - Appointment of Non-Executive Chairman ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180517120001_13645429/ Thu, 17 May 2018 12:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180517120001_13645429/ <![CDATA[RNS press release - Death of Non-Executive Chairman ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180514091925_13639572/ Mon, 14 May 2018 09:19:25 +0100 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180514091925_13639572/ <![CDATA[News - Mirada backers show faith as Mexico recovers ]]> https://www.proactiveinvestors.co.uk/companies/news/192927/mirada-backers-show-faith-as-mexico-recovers-192927.html Audio-visual interaction specialist Mirada PLC (LON:MIRA) is leaning heavily on its main shareholder while it develops its order pipeline and the Mexican economy recovers.

Last year, ATN International agreed to deploy Mirada's Iris product across the Caribbean, and shortly after the AIM-listed group bagged a contract to deploy Iris for Bolivian operator Digital TV Cable Edmund.

READ: Mirada arranges new loan facility with major shareholder

That followed a roll-out of Mirada’s Iris multiscreen solution for izzi Telecom in Mexico, part of the massive Televisa Group and that is expected to spark more orders.

Unfortunately, a Donald Trump-inspired slow-down in the Mexican economy meant Televisa, currently the biggest customer, put less money Mirada's way, resulting in half-year revenues to September dipping to US$3.47mln from US$3.79mln a year earlier.

The Mexican economy has since begun to recover, with a stronger currency, and Mirada's management is confident that deployments by Televisa of Mirada's interactive platform will also recover.

Interim losses widened to US$2.92mln from US$1.70mln, while net debt rose to US$7.57mln.

Recently, main backer Ernesto Tinajero followed up a US$1.7mln convertible loan with a further US$3mln one-year loan facility

READ: Mirada's major shareholders lend £1.7mln to get new contracts on track

Tinajero owns 27% of Mirada and was one of the first users of its software at Cablecom, a company now owned by Televisa, so he knows the product well.

Jose Luis Vazquez, Mirada’s chief executive, is also confident that, in time, a lot more orders would come the group’s way.

"Mirada has built a solid platform, which is highly valued by its customers,” he said with the interim numbers in December.

“This, combined with the successful commercial roll-out of the Iris solution for Televisa last year, has enabled the company to build a solid sales pipeline,” he said.

What is the Iris solution?

Mirada's Iris TV Everywhere solution enables content to be viewed across set-top boxes, smartphones and tablets.

All of them working seamlessly through Mirada's state-of-the-art Inspire user interface.

READ: Mirada says revenue from new ATNi contract to be ‘material’

Subscribers multi-screen viewing, the ability to pause viewing on one device and resume viewing on another, as well as access to more content and on-demand TV.

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Fri, 09 Mar 2018 13:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192927/mirada-backers-show-faith-as-mexico-recovers-192927.html
<![CDATA[News - Mirada arranges new loan facility with major shareholder ]]> https://www.proactiveinvestors.co.uk/companies/news/192744/mirada-arranges-new-loan-facility-with-major-shareholder-192744.html Over-the -top TV software specialist Mirada Plc (LON:MIRA) has arranged a new loan facility with major shareholder Ernesto Tinajero.

The facility, for US$3mln, is repayable in a year’s time and charges interest of 15% on funds drawn.

READ: Mirada's solid sales pipeline starts to bear fruit

Mirada said the monies will strengthen its balance sheet, help it finalise new customer contracts and renew other debt arrangements.

Tinajero has a 27.03% beneficial interest in Mirada and was the former owner of Cablecom in Mexico, a customer of the AIM-listed group that is now part of Latin American media group Televisa.

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Wed, 07 Mar 2018 08:05:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192744/mirada-arranges-new-loan-facility-with-major-shareholder-192744.html
<![CDATA[RNS press release - New £3m loan facility ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180307070004_13557294/ Wed, 07 Mar 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20180307070004_13557294/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171222124637_13476401/ Fri, 22 Dec 2017 12:46:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171222124637_13476401/ <![CDATA[News - Mirada's solid sales pipeline starts to bear fruit ]]> https://www.proactiveinvestors.co.uk/companies/news/189072/mirada-s-solid-sales-pipeline-starts-to-bear-fruit-189072.html The first half of the financial year of Mirada PLC (LON:MIRA) saw the company start to reap the benefit of its heavy investment in marketing.

In the six months to the end of September, the audio-visual content interaction specialist secured a long-term recurring revenue contract with ATN International for the deployment of Mirada's Iris product across the Caribbean, and shortly after bagged a contract to deploy Iris for Bolivian operator Digital TV Cable Edmund.

READ Mirada jumps as it enters new and highly promising market with Bolivia contract

Unfortunately, a slow-down in the Mexican economy meant its biggest client, Televisa, put less money Mirada's way, resulting in half-year revenues dipping to US$3.47mln from US$3.79mln in the same period of last year.

The Mexican economy has since begun to recover, with a stronger currency, and Mirada's management is confident that deployments by Televisa of Mirada's platform will also recover.

The underlying loss, or LBITDA, widened to US$1.20mln from US$0.08mln the year before, largely as a result of increased spending on sales, marketing and operational activities.

Loss before tax widened to US$2.92mln from US$1.70mln in the corresponding period of 2016.

Net debt at the end of the reporting period stood at US$7.57mln versus net debt of US$5.25mln at the start of the six-month period.

READ: Mirada's major shareholders lend £1.7mln to get new contracts on track

"Mirada has built a solid platform, which is highly valued by its customers. This, combined with the successful commercial roll-out of the Iris solution for Televisa last year, has enabled the company to build a solid sales pipeline, which has started bearing fruit with the signing of two significant new contracts,” said José Luis Vázquez, the chief executive officer of Mirada.

“We are confident that we are just at the beginning of a new stage in which Mirada is successfully securing new business and ensuring long-term revenue visibility for its stakeholders," he added.

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Wed, 20 Dec 2017 07:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/189072/mirada-s-solid-sales-pipeline-starts-to-bear-fruit-189072.html
<![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171220070003_13471774/ Wed, 20 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171220070003_13471774/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171219155919_13471496/ Tue, 19 Dec 2017 15:59:19 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171219155919_13471496/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171130101501_13449244/ Thu, 30 Nov 2017 10:15:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171130101501_13449244/ <![CDATA[News - Mirada's major shareholders lend £1.7mln to get new contracts on track ]]> https://www.proactiveinvestors.co.uk/companies/news/187889/mirada-s-major-shareholders-lend-17mln-to-get-new-contracts-on-track-187889.html Online content software group Mirada Plc’s (LON:MIRA) has received more financial support from its major shareholder Ernesto Tinajero.

The over-the-top content specialist will receive £1.7mln in a one-year convertible loan from a group comprising Tinajero’s vehicle Kapthungs, Kronck and Minles Corporation.

READ: Mirada jumps as it enters new and highly promising market with Bolivia contract

Mirada will use the funds to implement the recently won contracts with Nasdaq-listed pay-TV group ATN International and Digital TV Cable Edmund, a Bolivian pay TV operator and broadband services provider.

Tinajero owns 27.03% of Mirada shares through his personal holding and Kaptungs. He was the owner of Cablecom in Mexico, a customer of Mirada that is now part of the Televisa Group.

WATCH: Mirada PLC makes move into Caribbean with big new ATN International contract

Kronck is an investment company owned by Enrique Septién, which has a 2.05% stake in Mirada while Minles has 0.41%.

If the new loan was converted into shares this would amount to a further 52.19% of current issued capital.

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Tue, 28 Nov 2017 08:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/187889/mirada-s-major-shareholders-lend-17mln-to-get-new-contracts-on-track-187889.html
<![CDATA[RNS press release - £1.7m loan facilities with subscription rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171128070004_13445490/ Tue, 28 Nov 2017 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/647/LSE20171128070004_13445490/