Trading update RNS 21/07/2020

Latest Official Bidstack News (RNS)
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sectornitad
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Trading update RNS 21/07/2020

Post by sectornitad »

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this Announcement, this information is now considered to be in the public domain.

21 July 2020

Bidstack Group Plc

("Bidstack" or "the Company")

Trading Update

Bidstack Group Plc (AIM: BIDS.L), the native in-game advertising group, is pleased to provide a trading update for the six months ended 30 June 2020.

Trading performance

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).

Operational performance

Bidstack continues to progress towards its goal of becoming a leading platform to deliver in-game advertising.

The recent award of the Internet Advertising Bureau's Gold Standard certificate 1.1 has extended the opportunities available to the Company for inclusion in media planning by international advertising agencies. During the period Bidstack has worked with and run campaigns for 11 major advertising agency groups.

In the first half of the current financial year the Company has attracted advertising campaigns from the United States, mainland Europe and the UK. 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.

Bidstack's proprietary AdConsole, the Company's platform that enables games publishers and advertisers to access real time data on the performance of their games, has been updated with new functionality allowing games publishers to submit on-boarding information and, subject to approval by the Company, to have their games automatically uploaded into AdConsole.

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.

The Company's significantly oversubscribed placing, the results of which were announced on 5 June 2020, raised gross proceeds of £5.7m for the Company leaving Bidstack in a healthy cash position to continue to pursue its business plans.

As a result 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 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.

James Draper, CEO of Bidstack, said:

"I am pleased with our progress in the first half of 2020.

"The disruption to the advertising industry, as a result of COVID-19, has led to media buyers turning away from traditional means of advertising and focusing increasingly on emerging digital options. Bidstack's platform is well-positioned to capitalise on the increase in demand for our native in-game advertising inventory, which captures a large number of video game consumers.

"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."

-ENDS-
Last edited by sectornitad on Tue Jul 21, 2020 8:11 am, edited 1 time in total.



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Re: Trading update RNS 21/07/2020

Post by Nickfletch70 »

So bang in the middle of our predictions with @Mr_Chow coming closest at £287k

I’m pretty comfortable with that figure



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Re: Trading update RNS 21/07/2020

Post by mike »

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)

GOOD WORK. Thats over x10 YOY growth.



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Re: Trading update

Post by sectornitad »

Very positive...

£275k is healthy for H1. Shows significant growth YoY of 10x and 2x FY2019.

11 major ad agencies. Truly global. Excellent.

9 agency partners.

£5.9m at end June... after June pay roll.

“ 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.”

“ Bidstack's platform is well-positioned to capitalise on the increase in demand for our native in-game advertising inventory, which captures a large number of video game consumers.”
- very very nice to hear!! We have more than FM and Dirt

"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."

- content developers must mean esports...no?

Very happy with this update. Thanks JD... appears he has directly answered some of the questions I posed!!

Very happy with my 0.5% holding. This is not a £17m company... will the market cotton on this morning??
Last edited by sectornitad on Tue Jul 21, 2020 7:37 am, edited 1 time in total.



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Re: Trading update RNS 21/07/2020

Post by mike »

Surely this news now deserves some kind of re rate.

Now on to prove how we are going to scale up significantly in h2



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Re: Trading update RNS 21/07/2020

Post by sectornitad »

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

- very good news. I do like good things increasing significantly.



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Re: Trading update RNS 21/07/2020

Post by GlobalNomad »

well, i'll try not to miss anymore significant news... :oops:

good figures and the tone is very measured, only reporting raw figures rather than % increases etc.

sounds good and we should consider how to value this with that level of revenue and still predicted 'in line with market expectations for full year'



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Re: Trading update RNS 21/07/2020

Post by mike »

Well done Mr Chow but also, we calculated the averages of the guesses, and they were not very far off at all where we landed.

I will get another one started for an epic H2?

viewtopic.php?p=5649#p5649

So, Bidlievers average - £252,162.09



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Re: Trading update RNS 21/07/2020

Post by B.J.Blazkowicz »

That's what I am talking about cold facts. Flipping great news. :P



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Re: Trading update RNS 21/07/2020

Post by GlobalNomad »

£5.9m in the bank
growing business
ad-tech sector
revenues on target and expected to be significantly higher in H2 - circa fy £1.5m (?)
current market value circa 16m, approx 10-12 times revenue...



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