Recap of all news from the company during 2020.

Hang out and kill some time with some general #Bids chat
Post Reply
User avatar
sectornitad
Posts: 1114
Joined: Sun Mar 15, 2020 9:28 pm
User Type: Bidstack Investor
Your Bidstack Animal: Bull (Optimistic)
Has thanked: 478 times
Been thanked: 1635 times

Recap of all news from the company during 2020.

Post by sectornitad »

I thought it might be a good idea to have a recap of all the official news out of the company during 2020 to date (Sep 9th).

I have pulled out the titles of the RNS / RNS Reach items along with the most salient points. I have not provided links to each RNS or the quotes but they are all available here:

https://www.londonstockexchange.com/sto ... c/analysis

I have coloured the times they state FY2020 revenues will be heavily weighted to H2 and the forecast (£1.5m) is conservative in red
I have coloured the times the state they are working on new inventory and/or confident of telling the market more later, in green.

11th Feb - 2019 Trading Update

The Board expects that revenues in H1 2020 will continue to be minor and that material revenues for 2020 will occur only in the second half. 

Bidstack's focus remains on securing significant commercial and technological deals that will position the Company well for growth in the medium to long-term.

11th Feb - Andrew House appointed to advisory board

16th March - New Codemasters game deal (later we learn it is Dirt 5)

JD - We are continuing to focus on adding new inventory to our portfolio which we can then make available to the global advertising agencies we are dealing with. We are confident of making further announcements in this regard during the course of this year.

25th March - Gfinity and Venatus partnership (RNS REACH)

Francesco Petruzzelli, CTO, Bidstack said: "We are delighted to have partnered with Gfinity and Venatus on this, who are leading names in advertising and esports respectively.  We have been working towards creating new touch points for our clients for some time and this partnership opens the door to a growing, diverse and highly engaged audience. We look forward to building on this strategic partnership to deliver the best experience possible for gamers and for our clients.""

30th March - Covid 19 business update

“Amongst other things we are pleased to be commencing our first campaign in a new game from a global leader in digital interactive entertainment on 6 April 2020.”

JD - Our team is working closely with agency groups to help them test, report and activate larger campaigns across our growing portfolio of titles through this period. I look forward to updating the market further as things progress..


7th April - UK Gov “stay home save lives” campaign (RNS REACH)


17th April - Lumen research study (RNS Reach)

JD - I am delighted to see Bidstack's in-game ads perform so impressively when benchmarked against other advertising channels

27th April - Further details about Lumen research study

It was commissioned and paid for by Bidstack and initiated on behalf of an automotive brand who wanted to better understand how the in-game adverts performed versus traditional advertising channels such as desktop display, out of home and mobile display.

4th May - FY2019 Results

Chairman:

We are confident that we are approaching this balance in the right way which will lead to material revenues in the second half of 2020.

The Company continues to work with some of the largest game publishers in the world to make more inventory available to advertisers and some of these games are currently at integration or beta testing phase. However, the Company's focus continues to be on games with higher user statistics, rather than on sheer numbers of games, in order to maximise advertisers' access to targeted demographics. The Board will update the market on significant new games when it is able to do so.

With the connections Bidstack has made through the Advisory Committee and Board members, the Directors believe the Company is well-positioned strategically to capitalise on the commercial and technical opportunities ahead. Bidstack will continue to add high calibre individuals to the Advisory Committee to assist the Company and the team on its stated goals.

While we are working hard to increase the breadth of our inventory of games in H1 2020 and with some success, the Board continues to expect that revenues in H1 2020, although higher than total revenues for 2019, will continue to be minor and that material revenues for 2020 will start to occur only in the second half.

JD - Bidstack's inventory is now available to buy on The Trade Desk, a huge technological accomplishment which has been made possible by our impressive technical teams in Riga and London.”

While still on a small scale, by the end of 2019 we were running fully programmatic campaigns on our inventory of games.

As the Company also focused on advancing towards frictionless scalability during the period under review, we also invested heavily in our AdConsole,

Major technological and governance challenges are being overcome as we bring the in-game advertising medium to the advertising community. The Company is in advanced conversations with a number of AAA game studios and we expect to add further advertising agency trading agreements to our existing agreement, signed in 2019.

With 2020 expected to see the launch of the PlayStation 5 and Xbox's Series X, the focus now is for the Company to position itself to capitalise on the next generation of hardware and the new business models these will bring to the video gaming industry.

In summary, I believe that, while revenues for the first half of 2020 will be better than last year, they will remain low. The impact of Covid-19 remains impossible to predict and
we are taking a highly conservative view on our revenues for the full year
. That said the work we have done in 2019 positions the business well to build a highly scalable native in-game platform that can carve out a significant position within the evolving video game advertising and communications sector.

I look forward to updating you on further developments in this exciting journey we find ourselves on as they arise.


6th May - AGM Notice

1th May - Dirt 5 confirmation as new Codemasters game

JD - The launch of the Xbox Series X and PlayStation®5 later this year will bring a new level of gaming to gamers throughout the world.  Where our technology is deployed within the games, brands and the global advertising agencies we are dealing with will be able to engage with gamers in a completely natural way.


28th May - AGM Statement

The Board is pleased with the progress of the Company towards its goal of becoming a leading platform to deliver in-game advertising.

The Company has received its first advertising bookings from the US as well as its first bookings from its network of approved local agencies in Europe, Africa and South America.

Bidstack is now working with most of the major international advertising groups.  Although initial spends have been small, the Company has run campaigns for many international brands including Activision Blizzard, Audi, BBC, Football Index, JBL, MG Motors, Penguin Random House, Shell, Subway, Unilever, Vodafone, VW and Warner Music.

As well as having run its first campaign in a new game from a global leader in digital interactive entertainment, the Company is also actively selling advertising into a title from a leading creator, publisher and distributor of interactive entertainment and services.

Bidstack is working with a number of the world's largest video games developers and publishers including a globally recognised casual games brand, a content developer for mobile and console games and the developers of a well-established battle royale genre game. Discussions are ongoing with many more leading games developers and publishers.

As announced on 11 May 2020, Bidstack is making progress to be ready for the next generation of consoles expected to be launched this year.  In addition it is working hard on the streaming platforms which the Directors believe are likely to be major players in the future of high fidelity gaming and to capture the extensive secondary viewing market.

The Company continues to innovate and develop new technologies for its intellectual property portfolio.

The Company remains confident that it is making material progress in its approach to building a strong foundation on which to grow and create value for shareholders. The Board continues to expect revenues for 2020 to be very significantly second half weighted and in line with market expectations for the year.

28th May - AGM voting results

The Company remains confident that it is making material progress in its approach to building a strong foundation on which to grow and create value for shareholders. 

As a result of the experience gained in 2019, the Board believes that Bidstack's medium and longer term interests require the Company to continue with its strategy of prioritising technical investment over seeking short term revenues in order to take full advantage of the potentially significant shifts in technology and media planning capabilities which are underway.

While the Company is working hard to increase the breadth of its inventory of games in H1 2020 and with some success, the Board continues to expect revenues for 2020 to be very significantly second half weighted and in line with market expectations for the year.


4th June - Fundraise of £5m

5th June - Results of fundraise

10th June - Director shareholdings

See here: https://www.londonstockexchange.com/new ... s/14572157

All directors except JD and FP (who sold shares in 2019) bought shares, as did Chief Revenue Officer.

11th June - TR1 - Herald Asset Managers holding above 3%

Herald Asset Managers own 6.45% of company following fund raise. First time an institutional investor buys in to the company.

From their website (https://www.heralduk.com/our-philosophy/):

Herald invests, generally on a long term basis, using fundamental analysis. The technology, media and telecommunications sector comprises over 5,000 quoted companies, and many more unquoted.

Analysis entails a prolific number of meetings with companies, either at Herald’s offices, site visits or at conferences globally, as well as broker hosted meetings. In addition, Herald relies on independent industry research and published company filings, statements, presentations, web sites and broker research.

Focus on the sector enables a significant degree of cross referencing across competitors, customers and suppliers globally. Using this mosaic of information combined with strong financial analysis we endeavour to add value. The evolving nature of technology means there is a wide divergence of performance between winners and losers, but the winners can be spectacular.

16th June - IAB Gold Standard awarded

JD - For many brands and agencies, being IAB Gold Standard certified is a prerequisite for inclusion in media planning. As advertisers look increasingly to new and emerging channels for inspiration and innovation, having the option of including fraud free and brand safe activations in AAA video game titles which can enhance the user experience is an enticing addition to their repertoire.
 
The certification should further enhance demand side activity as, alongside giving users a better experience, it will give further confidence for brands and advertisers to continue to spend with Bidstack. I look forward to reporting further on our efforts in the months ahead.


21st July - H1 Trading update

Interim results for the six months ended 30 June 2020 are expected to include unaudited revenues in the region of £0.275 million (6 months ended 30 June 2019: £0.027m).  In addition, available unaudited cash as at 30 June 2020 was approximately £5.9m (period ended 30 June 2019: £6.0m).

During the period Bidstack has worked with and run campaigns for 11 major advertising agency groups.

Customers are moving beyond initial test spends and the size and scope of proposed advertising campaigns has increased significantly.

In addition Bidstack's own network of approved local partner agencies in Europe, Africa and South America now extends to nine companies.

Work continues with some of the world's largest video games developers and publishers to incorporate our software into their games and Bidstack is experiencing increased inbound interest from other leading games developers, publishers and others that are interested in engaging with the in-game advertising sector.

As announced on 28 May 2020, the Board continues to expect revenues for 2020 to be very significantly second half weighted and in line with market expectations for the year ending 31 December 2020.

Over the period the levels of demand side interest we are experiencing from media agencies and brands has increased significantly.  We are continuing progress with a range of content developers to construct the depth of supply which will enable us to fully exploit the demand we are starting to generate.

18th August - Interim Results

Chairman:

Our supply-side strategy continues to be focussed on working with a number of the world's largest video games developers and publishers to incorporate our software into their games. These ongoing commercial and technical discussions with some of the major players in the video games industry, who have and continue to publish highly successful "household name" titles, are extensive and complex and require significant amounts of due diligence.  The Board believes this strategy will establish Bidstack as one of the leaders in this part of the advertising industry.


Our strategy has had some successes to date as, during the period, we ran our first campaign in a well-known sports game from a global leader in digital interactive entertainment.  We have also been actively selling advertising into a title from a leading creator, publisher and distributor of interactive entertainment and services.

We continue to make progress for the next generation of consoles expected to be launched in late 2020.  In addition, we are working hard on the streaming platforms which the Directors believe are likely to be major players in the future of high fidelity gaming and to capture the extensive secondary viewing market.

..we believe that Bidstack is currently the only player in the industry with an end-to-end proprietary and fully programmatic in-game advertising platform.

Bidstack's strategy of continuing to work with some of the world's largest video games developers and publishers will take time to come to fruition. Nevertheless, the Board remains confident that the Company's strategy for creating a sound footing on which to grow the business and create future value for shareholders is robust.

The Board continues to take a highly conservative view on revenue prospects in its planning for the remainder of 2020…The Board continues to expect revenues for 2020 to be very significantly second half weighted and in line with market expectations for the year ending 31 December 2020.


JD - Although initial spends have been small, the Company has run campaigns for many international brands including Activision Blizzard, Audi, BBC, Football Index, JBL, MG Motors, Penguin Random House, Shell, Subway, Unilever, Vodafone, VW and Warner Music.

Over the period, the levels of demand side interest we are experiencing from media agencies and brands has increased significantly and our experience is that customers are now providing us with briefs which go beyond initial test spends and the size and scope of proposed advertising campaigns has increased substantially.

We are continuing progress with a range of content developers to construct the depth of supply which will enable us to fully exploit the demand we are starting to generate.

Discussions are ongoing with a number of the world's largest video games developers and publishers to incorporate our software into their games.  These ongoing commercial discussions and the due diligence we are undergoing, are far-reaching, multifaceted and complex.  However the Board believes this strategy will bear fruit and will establish Bidstack as one of the leaders in this corner of the advertising industry.



User avatar
Liz872
Posts: 148
Joined: Thu Feb 13, 2020 6:51 pm
User Type: Bidstack Investor
Your Bidstack Animal: Bull (Optimistic)
Location: Cardiff
Has thanked: 552 times
Been thanked: 215 times

Re: Recap of all news from the company during 2020.

Post by Liz872 »

Great post @sectornitad Thank you for putting it together.



Chessmaster
Posts: 6
Joined: Fri Feb 14, 2020 1:40 pm
User Type: Unspecified
Has thanked: 8 times
Been thanked: 17 times

Re: Recap of all news from the company during 2020.

Post by Chessmaster »

Good to see all of the rns's in one place.

Despite reiterating the £1.5m target several times, I hope they aren't taking the same approach as last year where the target (£5m+ i think) was based on deals which were yet to be signed.

I'd prefer it if the target was based on extrapolation of existing revenues, with any new revenue streams helping to exceed expectations.

Time will tell. But after the fiasco last year, they're almost the last chance saloon of credibility with the revenue targets. They simply must hit £1.5m for me.



User avatar
dreammachine
Posts: 182
Joined: Tue Jul 14, 2020 3:14 pm
User Type: Bidstack Investor
Your Bidstack Animal: Rather not say
Has thanked: 12 times
Been thanked: 156 times

Re: Recap of all news from the company during 2020.

Post by dreammachine »

I’m reading a lot of ‘we’ll give you updates during the year when we can’

Well into September now.

‘Significantly second half weighted’ is still saying to me that October-December could be the critical period here. Well ultimately it has to be the critical period for our sakes!

I do think they were banking on greater success with UFC 4 though. I’m pretty sure that debacle has rocked the ship a little.



User avatar
lukehold
Posts: 633
Joined: Fri Feb 14, 2020 7:07 pm
User Type: Bidstack Investor
Your Bidstack Animal: Bull (Optimistic)
Has thanked: 803 times
Been thanked: 726 times

Re: Recap of all news from the company during 2020.

Post by lukehold »

With the amazon ads pulled from ufc4 I’m seriously worried as that was exactly the sort of second half revenue we needed. Not another small campaign in dirt rally. If the VW campaign in UFC3 was recognised in first half it’s not looking good.

Hope 5p holds, I really didnt expect it to go to these levels again, but the sentiment has turned



User avatar
Clannus125
Posts: 24
Joined: Sun Feb 16, 2020 3:27 pm
User Type: Unspecified
Has thanked: 37 times
Been thanked: 22 times

Re: Recap of all news from the company during 2020.

Post by Clannus125 »

At the risk of being pelted with rotten tomatoes I actually took a ( very small ) position in Pires a couple of weeks back as Sure Valley Ventures have some very interesting investments in their portfolio. Ok, Admix are in that portfolio and due to the structure of the Pires/SVV set up its difficult to tell which investments are giving it the current SP lift but just because other companies can be seen as competitors it doesn’t mean they aren’t investable. Pires Sp certainly Seems to be going in the opposite direction to Bids at the moment. Hopefully the tide will turn and patience will be rewarded.



User avatar
GlobalNomad
Posts: 968
Joined: Thu Feb 13, 2020 6:51 pm
User Type: Bidstack Investor
Your Bidstack Animal: Rather not say
Location: London
Has thanked: 856 times
Been thanked: 1260 times

Re: Recap of all news from the company during 2020.

Post by GlobalNomad »

@sectornitad thanks for putting that together, useful



Post Reply