Mirada H1 Loss Widens, On Track For FY Results To Meet Market View

(RTTNews) - mirada plc. (MIRA.L), an audiovisual content interaction specialist, reported Friday that its first-half pre-tax loss was 822 thousand pounds, compared to last year's loss of 173 thousand pounds.

Adjusted EBITDA loss was 0.09 million pounds, compared to prior year's profit of 0.52 million pounds, reflecting costs incurred from delivery of Tier 1 customer project during the first half.

Revenue was 2.19 million pounds, lower than 2.30 million pounds a year ago. The revenues reflected the fact that certain backoffice licence revenues related to the deployment of inspire with Tier 1 Customer will be recognised in the second half of the year. This was due to IFRS policy, which states they can only be recognized following the commercial launch.

Overall, the company expects that total revenue for the year will be in line with market expectations.

Looking ahead, the company said it remains on track for full year performance to be in line with market expectations with around 96% visibility of full year consensus revenues.

Separately, mirada announced the successful launch of Telefonica Peru's Movistar Go product which features the Iris SDP backend tool.

Telefonica Peru is a principal telecom operator in Peru. It is 98.5% owned by Spanish telecom group Telefónica S.A. (TEF, TDE.L).

Movistar Go, with mirada's Iris product, is a digital browser-based OTT platform which enables consumers to view desired content from any device with the browser. Movistar Go includes multiple functionalities from mirada's Iris solution.

Commenting, Jose Luis Vazquez, Chief Executive Officer, said, "This represents a big step following the Company's successful rollout of our iris SDP modules in Peru and opens the way for further collaboration with Telefonica, both in LatAm and in the rest of the countries it operates in."