Mirriad Advertising PLC on Tuesday reported a narrowed loss as it remained focused on the integration of TripleLift, which offers website monetisation.

The London-based provider of in-content advertising technology said pretax loss narrowed 28% to £11.4 million in 2023 from £15.8 million in 2022.

Revenue climbed 20% to £1.8 million from £1.5 million. Cost of sales increased 9.4% to £313,000 from £286,000, but administrative expenses decreased 24% to £13.0 million from £17.1 million.

‘Crucially, we are actively engaged with TripleLift and other adtech partners to initiate programmatic activation in Q2 2024,’ the company said.

Mirriad Chief Executive Officer Stephan Beringer said: ‘The integration with our partners at TripleLift will lead to a ’plug and sell’ proposition. Behind these developments are important technical achievements that put our ad-solution at the forefront of the streaming age and are paving the way to programmatic scale and long-term value for Mirriad’s shareholders.’

Mirriad shares fell 4.0% to 1.09 pence each on Tuesday afternoon in London.

Copyright 2024 Alliance News Ltd. All Rights Reserved.