Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF), the in-content advertising specialist, said there are encouraging signs of its sector returning to growth.
“At Mirriad, this is evidenced by strong US revenue trajectory in the second half of 2021 and the notable increase in both deal size and deal volume,” added Stephan Beringer, chief executive.
The number of campaigns in the US more than doubled between calendar 2020 and 2021, he said, and the average campaign size increased by more than a third year-on-year.
In a trading update, Mirriad added that US revenues rose by more than 180% to approximately £884, 000 in the twelve months to end December 2021 with around 70% generated in the second half of the year.
In Europe, sales rose by more than 68% to approximately £143,000, with 65% of also this also booked in the second-half following a similar pattern to the US.
Total revenue for 2021 is expected to be approximately £2mln (2020: £2.2mln), while the company closed the year with a cash balance of £24.5mln.
"We are positioning ourselves for scale as we pioneer the nascent in-content advertising market which is rapidly gaining traction with customers,” added Beringer.