RE: TU due14 Dec 2021 06:50
"With improving visibility of the sales pipeline, we believe the Company has a strong pipeline of revenue for the second half as existing advertisers rebook with growing spend and business development efforts come to fruition.
"The Company continues to expect to deliver revenues for the year in line with market expectations. In addition, the Board has been focussed on improving gross margin and controlling the Group's total operational costs going forward, as it starts to rebalance capital deployed to reflect the shift from product development to commercialisation."
James Draper, Chief Executive, said:
"I want to put on record how proud I am of the team's continued work towards establishing Bidstack as a stalwart of in-game advertising. Watching our incredible staff establish and build-out relationships with some of the world's most recognised advertisers, agencies, technology providers and game studios leaves me in no doubt that Bidstack is going from strength to strength.
"Our technology and commercial expertise are proven and in high demand - and the understanding our team has shown towards our customers and potential partners is delivering additional opportunities.
"Our progress year-to-date reflects the team's dedication to driving the business across advertisers, game developers and product strategy.
"Campaign spends are growing substantially and the number of game studios wanting to work with our team is expanding.
"Key highlights, such as the exclusive partnership with Nordeus, progress in the US with the IAB and growing access to our inventory, all lead me to believe we are on the pathway to scalability.
"The opportunities that lie ahead in the second half in relation to innovative product launches have our team hugely motivated - and we look forward to sharing more of these developments when we can."
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