Mirriad Looks to Emerging-Market Joint Ventures After Sharp Revenue Decline in 2025

Mirriad Advertising (LSE:MIRI) said revenue for 2025 is expected to come in at just over £0.4 million, down from £1.0 million the prior year, following a weaker-than-expected fourth quarter that reflected broader softness across the media sales sector. The shortfall in late-year trading weighed heavily on full-year performance.

Despite the downturn, the board said it remains cautiously optimistic about prospects for 2026. The company continues to work closely with partners including Rembrand and is progressing discussions around potential joint ventures in several emerging markets, notably India, Indonesia, the Philippines, Thailand and Malaysia. Management also highlighted early signs of traction in the Middle East, alongside a potential test campaign with a major UK media group.

From a financial position standpoint, Mirriad ended the year with £1.2 million of cash and has reduced its monthly cost base to around £220,000. The company said this tighter cost control, combined with careful liquidity management, is intended to provide sufficient runway as it seeks to secure new commercial agreements and capture a stronger sales period in early 2026.

Overall, Mirriad’s outlook remains dominated by weak financial performance. The sharp contraction in revenue, continued losses and ongoing cash burn have eroded balance sheet strength, and there are few mitigating factors given the lack of supportive technical or valuation signals. While strategic initiatives and partnership activity offer potential upside, financial risks continue to weigh heavily on the near-term outlook.

More about Mirriad Advertising

Mirriad Advertising is a UK-based specialist in virtual product placement and content advertising. The company operates a multi-patented platform that digitally inserts brands and products into television, streaming, music and influencer content, creating new revenue opportunities for content owners while enhancing ad effectiveness for advertisers. Mirriad operates across EMEA, the US through a joint venture with Rembrand, and India.