Shares in Mobile Streams PLC (AIM:MOS) fell 20% to 0.5p after the group reported sharply wider losses, reflecting a significant increase in its cost base as it pivots towards online betting and media in Mexico.
The AIM-listed company said revenue for the year to 30 June 2025 rose to £1.41 million from £436,000, driven by marketing, development and intelligence services linked to the build-out of its new betting operation.
However, heavier investment meant the loss before tax deepened to £2.33 million, up from £947,000 a year earlier.
Mobile Streams has been working with Mexican partners Estadio Gana and Capital Media Sports ahead of the launch of its online casino and sportsbook business, which went live in April.
During the year, the company raised £3.9 million, mainly through warrant exercises, and used part of the proceeds to lift its stakes in the two businesses.
The group plans to complete a reverse takeover of the Mexican operations in the first quarter of 2026. At the year end, Mobile Streams held £1.55 million in cash and said recent fundraising should cover its working capital needs for the foreseeable future.