Bidstack Group PLC (LON:BIDS), whose technology implants advertising into computer games, said revenues in 2020 topped market expectations.
The top line headed sharply north to £1.79mln, from £140,391 in 2019, as the company ran more than 40 in-game advertising campaigns.
The adjusted loss before tax of £6.99mln was in line with expectations; in 2019, the loss had been £5.4mln.
The debt-free technology firm ended the year with cash of £2.3mln, down from £3.1mln a year earlier.
In January of this year, Bidstack received a non-trading cash payment of more than £0.5mln and expects to receive a further similar receipt late in the second quarter. These payments will help reduce the firm’s monthly cash burn
In the current year, Bidstack intends to focus on raising awareness of its technology with global agency holding groups and advertisers, showing evidence of return on investment with ad measurement and through increasing the ease of purchase with a premium inventory.
In addition, the company will be stepping up its investment in growing its “robust pipeline of AAA and high-fidelity game portfolio and mobile publisher base”, diversifying its product offering to publishers, rolling out its Pubguard security product and enhancing its software development kit (SDK) integration.
Revenue in 2021 should be materially higher than it was in 2020 but as was the case last year will be significantly second-half weighted.
“In 2020, Bidstack made strong and tangible progress towards our ambition to become the global leading advertising and monetisation platform for interactive entertainment. Bidstack has proven its initial concept through bringing premium advertisers into the world of gaming, securing exclusive contracts with household name game developers and building the technology infrastructure to enable both sides to seamlessly transact,” declared Donald Stewart, the chairman of Bidstack.
“Our strategy has been to take no shortcuts from either a technological or commercial perspective. This is now paying off, with significant advertising agencies and brands planning around our premium inventory and with our technology providing transparent reporting on campaign performance,” Stewart added.
What would gamers give up to keep on playing?
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????️ 61.6% would drop Netflix
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— Bidstack (@bidstack) March 22, 2021