Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) shares fell 29.5% to 0.006p after the virtual product placement company said it expects to report full-year revenue of approximately £200,000 generated in the second half of the year.
This means the whole of 2025 saw around £0.4 million of turnover, down 73% compared to the £1.5 million reported for 2024, although recognising some additional income is expected before the year-end.
The majority of revenue in the second half came from outside the US, such as the July deal with Middle East broadcaster MBC Group to provide virtual in-video advertising services.
Cash stood at around £1 million as of 30 November 2025, with the company expecting a further £350,000 in tax credits shortly.
Mirriad. which promised that a further trading update will be issued in early January, highlighted that its monthly cost base has been reduced to approximately £220,000, following previously announced restructuring measures.
The group has faced a challenging spell, including a £1.5 million cash injection in May and Zeus Investment Management taking a near-9% stake in June.