TIDMBIDS

RNS Number : 5516T

Bidstack Group PLC

21 July 2020

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 GBP0.275 million (6 months ended 30 June 2019: GBP0.027m). In addition, available unaudited cash as at 30 June 2020 was approximately GBP5.9m (period ended 30 June 2019: GBP6.0m).

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 GBP5.7m 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-

Contacts

 
 Bidstack Group PLC 
  James Draper, CEO                              via Buchanan 
 SPARK Advisory Partners Limited (Nomad) 
  Mark Brady / Neil Baldwin / James Keeshan      +44 (0) 203 368 3550 
                                              ----------------------- 
 Stifel Nicholas Europe Limited (Broker) 
  Fred Walsh                                     +44 (0) 20 7710 7600 
                                              ----------------------- 
 Buchanan Communications Limited 
  Chris Lane / Stephanie Watson / Kim van 
  Beeck 
  bidstack@buchanan.uk.com                       +44 (0) 20 7466 5000 
                                              ----------------------- 
 

Notes to editors

About Bidstack

Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. Its proprietary technology is capable of inserting adverts into natural advertising space within video games. Bidstack's customers are games publishers and developers (on the supply side), and advertising agencies, brands and programmatic advertising platforms (on the demand side).

Bidstack contracts exclusive access to the native in-game advertising spaces within video games from their developers or publishers and sells that advertising space either directly to specific brands and their agencies or through programmatic advertising platforms.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 21, 2020 02:00 ET (06:00 GMT)

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