Mirada Share Discussion Threads

[elited10] 29/4/2020 06:49

That should get things moving

[bad gateway] 29/4/2020 06:34

29 April 2020

Mirada plc

("Mirada" or the "Company")

Year End Trading Update and

COVID-19 Update

Mirada plc (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators and broadcasters, provides the following trading update for the financial year ended 31 March 2020.

The Board is pleased to report that it expects:

-- Total revenues for the year in excess of $13.0 million (FY19: $12.3 million), with adjusted revenues excluding discontinued activities (Mirada Connect disposal in July 2019) of $12.8 million (FY19: $11.5 million, 11% growth).

-- EBITDA of $4.0 million (FY19: $0.8 million), with adjusted EBITDA (excluding the one-off gain from the sale of Mirada Connect) of $2.3 million, lower than current market expectations but more than 180% growth on last year (FY19: $0.8 million). Significantly, EBITDA in the second half of FY20 is expected to be in excess of $2.0 million (H2 FY19: $0.9 million).

-- Profit after tax (PAT) of $0.3 million (FY19: loss of $3.0 million), with an adjusted PAT before the one-off Mirada Connect gain of minus $1.4 million, a year-on-year gain of $1.6 million.

-- Net debt of $5.0 million at 31 March 2020 ($4.9 million at 31 March 2019), with cash and other short-term facilities available at $1.8 million.

Turnover from our largest customer, the Mexican operator izzi Telecom, remained stable, despite the one-off increase in FY19 revenues resulting from the 2018 FIFA World Cup. By March 2020, izzi Telecom had deployed more than 2.8 million set-top boxes (STBs) with Mirada's product, and more than 1.0 million households were using its OTT product supplied by Mirada. izzi Telecom recently selected Mirada to deploy its new generation TV service, which reinforces our long-term relationship. In March 2020, more than 3.2 million devices used our Iris product worldwide.

Total revenues excluding discontinued activities grew by $1.3 million to $12.8 million, driven by a $1.5 million increase in Development Revenues (revenue from customer deployments, integration and product development), although some additional forecasted revenues and their associated costs were slightly delayed and are now expected in fiscal year 2021. Half of this growth in fiscal year 2020 came from markets other than Mexico.

We are making progress toward several significant new commercial rollouts during the next few months, in Mexico, the Caribbean region, Spain and Mongolia, as our relationships with present and new customers develop positively. Negotiations with new potential customers continue, and we will keep our shareholders duly updated.

Regarding COVID-19, the whole Company transitioned to remote-working and has been performing without incident for more than six weeks. We continued implementing and deploying new product features as planned, without delays, and we do not foresee any operational constraints for the time being. Although our customers are currently experiencing exceptional increase in demand for their services owing to generalised lockdowns in their territories, it is still too early to predict the long term impact of the present situation on their businesses.

The Company has been able to raise EUR1.25 million of additional long-term (6 year) unsecured loans, at 2% interest, with funding provided by Spanish banks and 80% guaranteed by the Spanish Government. The loans are made available to support Spanish-based companies with their domestic and international operations. Although we do not yet know if the COVID-19 pandemic will have a long lasting impact on our customers' performance, the Board believes that it is important to secure liquidity in the current environment, and is confident that it will not need to rely on additional equity funding to continue its operations for the foreseeable future.

Jose Luis Vazquez, CEO of Mirada, commented: "The group has made remarkable progress. We continue to gain traction in the market and we are starting to see the return on the investment made over previous years. We are glad to continue providing full support to our customers during these uncertain times, and we remain on track with our deployment plans. "

All figures included in this announcement are subject to audit.

[bad gateway] 23/4/2020 06:19

Update and presentation on the 29th then.
See how well they've done with the planet sat indoors watching telly.

[bad gateway] 08/4/2020 12:13

Reading their update it sounds like it has only they're not very good at putting the point across?

[gnnmartin] 08/4/2020 11:24

I'm surprised to see selling on what I thought was a reasonably encouraging RNS. Still, I suppose people had hoped that coronavirus might actually boost Mirada.

[johncasey] 26/11/2019 10:05

i thought the revenues would have been alot higher so holding fire at the moment

[elited10] 26/11/2019 09:52

Better a quiet steady rise than attracting the old pump and dumpers. Today's sale looks like it was bought at 150 the other week. I'm a long term holder, I'd rather not see the traders here, until they buy a few off me at a tenner...

[jimmywheels] 26/11/2019 08:50

All very quiet here, massive spread!

[gf123] 18/11/2019 08:06

Our successful engagement with Android TV technology reflects how flexible our business is, being able to quickly implement new paradigm changes and provide the latest innovations to our growing customer base. This, along with other technological developments, is leading to increased market recognition of the quality of our product and increased adoption of our technology, which is being positively reflected in our financial performance. "The subscriber base of Mirada's customers is growing strongly, while the Group continues to add new networks to its client base.  We are currently participating in pitching processes for several prospects and are increasing our pipeline of opportunities with the aim of further growing our list of satisfied business partners and customers. Together, these positive developments provide considerable confidence going forward. We are pleased to report that we are trading in line with market expectations and we look forward to the remainder of our financial year with confidence."

[datait] 18/11/2019 07:28

Nothing much in this news all as expected. Fall back now, glad I never rushed in here.

[fqr714bhp] 17/11/2019 15:14

And the previous time i got shafted for £6600 was with the Roomservice group PLC scandal.

Stockbroker Evolution got fined for short selling that stock 257% ???????????????????

At that time i owned over 6% of Roomservice Group PLC.

I never did get any compensation for that disaster.

[poppa wobbler] 17/11/2019 15:08

This CEO presentation at Shares Mag / AJ Bell event, 17th July 2019 is worth watching.

Mirada's Mkt cap is totally wrong. During the Q&A, in response to a question at 22:30, the CEO explains that people don't know who Mirada are. They're competing with companies half their size - Hugely loss-making companies, that are being bought out for £20m .... £30m .... £40m. Yet Mirada (which is now profitable) is valued at just £14m. £50m would be fairer value.

[poppa wobbler] 17/11/2019 15:06

This CEO presentation at Shares Mag / AJ Bell event, 17th July 2019 is worth watching.

Regarding stallone10's comment #169: "Mkt cap totally wrong"; During the Q&A, in response to a question at 22:30, the CEO explains that people don't know who Mirada are. They're competing with companies half their size - Hugely loss-making companies, that are being bought out for £20m .... £30m .... £40m. Yet Mirada (which is now profitable) is valued at just £14m. £50m would be fairer value.

[fqr714bhp] 17/11/2019 14:59

Yes i have just checked back in the RNS list.

And it was on the 09/12/2010 under MIRADA when share holders were shafted, with a capital restructure.

And i am sure that was still when the old YOO management was there???

[poppa wobbler] 17/11/2019 14:58

Way back in 2008; It was all a bit involved!

[fqr714bhp] 17/11/2019 14:41

It was so long ago i can not remember 100%, But i lost £8600 overnight.

I am sure it was in the very early days of MIRADA when the YOO management was still there.

Bunch of crooks, i hope they are all in prison now or dying of painful CANCER.

[poppa wobbler] 17/11/2019 14:20

FQR714BHP. I think you must be referring to Yoomedia.  YOO shareholders were certainly shafted by YOO management.

Mirada listed on AIM by reversing into the cash shell remains of YOO.  Mirada's a totally different company that had no involvement whatsoever with YOO's operations.

[fqr714bhp] 17/11/2019 14:18

YES indeed.

Bunch of crooks.

I had £8600/350000 shares they did a 1000:1 consolidation and i was left with 350 shares

But the share price was subdivided and was only replaced at @40p after consolidation.

So my holing was only worth £140

In the end i sold them for 350 X 26p = @ £91

[johncasey] 17/11/2019 14:06

ARE you talking sinclair and co? yoo media?

[johncasey] 17/11/2019 11:48

wouldnt surprise me if this does 300% increase monday..only 9m shares tightly held

[johncasey] 17/11/2019 11:46

thats tough FQR but the key to making money is average down and double up or more..thats what i do..the cheaper it gets the more i buy

[fqr714bhp] 17/11/2019 11:28

This bloody company cost me a loss of £8600 a few years ago.

In the Past when they did a share consolidation and sub divisions?

I had £8600 invested with 350000 shares.
After consolidations and sub divisions i was left with 350 shares and my investment reduced to £86

In the end i got out and sold my 350 shares for £94

Bunch of bandits/crooks.