Shares in Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) tumbled on Friday after the company flagged sharply weaker revenues.
The virtual product placement specialist said it expects to report full-year revenue of around £200,000 generated in the second half of the year, taking total turnover for 2025 to approximately £400,000. That represents a 73% fall from the £1.5 million recorded in 2024, although the company noted that some additional income is still expected before the year end.
Most of the second-half revenue was generated outside the US, including a July agreement with Middle East broadcaster MBC Group to provide virtual in-video advertising services.
Mirriad said it had around £1 million of cash as of 30 November 2025 and expects to receive a further £350,000 in tax credits shortly. The company also highlighted that restructuring measures have reduced its monthly cost base to about £220,000.
The group has endured a difficult period, having raised £1.5 million in May and seen Zeus Investment Management build a near-9% shareholding in June. Mirriad said it will issue a further trading update in early January.
