AIM:MIRI

Stock Analysis Report

Mirriad Advertising

Executive Summary

Mirriad Advertising plc, a video technology company, provides in-video advertising solutions to advertisers, content creators, broadcasters, and brand owners and their agencies.

Risk Analysis

Earnings have declined by -26.56% per year over past 5 years

Has less than 1 year of cash runway

Makes less than USD$1m in revenue (£725K)

Currently unprofitable and not forecast to become profitable over the next 3 years

+ 2 more risks


Snowflake Analysis

Adequate balance sheet with weak fundamentals.

Share Price & News

How has Mirriad Advertising's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MIRI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.0%

MIRI

-0.6%

GB Media

1.4%

GB Market


1 Year Return

3.2%

MIRI

12.5%

GB Media

12.4%

GB Market

Return vs Industry: MIRI underperformed the UK Media industry which returned 11.6% over the past year.

Return vs Market: MIRI underperformed the UK Market which returned 12.7% over the past year.


Shareholder returns

MIRIIndustryMarket
7 Day-5.0%-0.6%1.4%
30 Day10.2%-0.6%1.8%
90 Day-5.8%7.8%8.8%
1 Year3.2%3.2%16.9%12.5%18.3%12.4%
3 Yearn/a-1.4%-14.0%23.8%8.0%
5 Yearn/a5.6%-15.8%41.8%8.9%

Price Volatility Vs. Market

How volatile is Mirriad Advertising's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mirriad Advertising undervalued compared to its fair value and its price relative to the market?

2x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MIRI's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MIRI's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: MIRI is unprofitable, so we can't compare its PE Ratio to the Media industry average.

PE vs Market: MIRI is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MIRI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MIRI is overvalued based on its PB Ratio (2x) compared to the GB Media industry average (1.4x).


Next Steps

Future Growth

How is Mirriad Advertising forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.0%

Forecasted Media industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Mirriad Advertising has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Mirriad Advertising performed over the past 5 years?

-26.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MIRI is currently unprofitable.

Growing Profit Margin: MIRI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MIRI is unprofitable, and losses have increased over the past 5 years at a rate of -26.6% per year.

Accelerating Growth: Unable to compare MIRI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MIRI is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (3.7%).


Return on Equity

High ROE: MIRI has a negative Return on Equity (-174.9%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Mirriad Advertising's financial position?


Financial Position Analysis

Short Term Liabilities: MIRI's short term assets (£10.3M) exceed its short term liabilities (£2.4M).

Long Term Liabilities: MIRI's short term assets (£10.3M) exceed its long term liabilities (£575.8K).


Debt to Equity History and Analysis

Debt Level: MIRI is debt free.

Reducing Debt: MIRI has not had any debt for past 5 years.


Balance Sheet

Inventory Level: MIRI has a low level of unsold assets or inventory.

Debt Coverage by Assets: MIRI's debt is not covered by short term assets (assets are -9.2575516558664E+16x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MIRI has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MIRI has less than a year of cash runway if free cash flow continues to reduce at historical rates of -24.9% each year


Next Steps

Dividend

What is Mirriad Advertising's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.8%markettop25%5.0%industryaverage3.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MIRI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MIRI's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MIRI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MIRI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MIRI's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

What is the CEO of Mirriad Advertising's salary, the management and board of directors tenure and is there insider trading?

1.3yrs

Average management tenure


CEO

Stephan Beringer (55yo)

1.3yrs

Tenure

UK£516,100

Compensation

Mr. Stephan Beringer serves as Chief Executive Officer at Mirriad Advertising Limited since October 01, 2018 and has been its Director since September 2018. Mr. Beringer served as the Chief Executive Offic ...


CEO Compensation Analysis

Compensation vs Market: Stephan's total compensation ($USD671.09K) is above average for companies of similar size in the UK market ($USD326.78K).

Compensation vs Earnings: Insufficient data to compare Stephan's compensation with company performance.


Management Age and Tenure

1.3yrs

Average Tenure

Experienced Management: MIRI's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Age and Tenure

1.7yrs

Average Tenure

58yo

Average Age

Experienced Board: MIRI's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 28.5%.


Management Team

  • Jana Eisenstein

    President

    • Tenure: 1.3yrs
  • Barry Llewellyn

    Executive Vice President of EMEA

    • Phil McLauchlan

      Chief Science Officer

      • Stephan Beringer (55yo)

        CEO & Director

        • Tenure: 1.3yrs
        • Compensation: UK£516.10k
      • David Dorans

        CFO & Director

        • Tenure: 2.1yrs
        • Compensation: UK£229.00k
      • Tim Jones

        Head of Global Research & Insights

        • Tenure: 1.7yrs
      • Simon Redding

        Head of Engineering

        • Niteen Prajapati

          Chief Technology Officer

          • Rebekah Audic

            Head of Global Marketing

            • Mark Melvin

              Executive Vice President of Sales & Brand Partnerships - US


              Board Members

              • Bob Head (61yo)

                Independent Non-Executive Director

                • Tenure: 0.6yrs
              • Stephan Beringer (55yo)

                CEO & Director

                • Tenure: 1.3yrs
                • Compensation: UK£516.10k
              • Anthony Pearson (62yo)

                Non-Executive Chairman

                • Tenure: 0.8yrs
                • Compensation: UK£79.00k
              • Mark Reilly (39yo)

                Non-Executive Director

                • Tenure: 2.1yrs
                • Compensation: UK£20.00k
              • Alastair Hugh Kilgour

                Non-Executive Director

                • Tenure: 2.1yrs
                • Compensation: UK£20.00k
              • David Dorans

                CFO & Director

                • Tenure: 2.1yrs
                • Compensation: UK£229.00k

              Company Information

              Mirriad Advertising plc's company bio, employee growth, exchange listings and data sources


              Key Information

              • Name: Mirriad Advertising plc
              • Ticker: MIRI
              • Exchange: AIM
              • Founded: 2015
              • Industry: Advertising
              • Sector: Media
              • Market Cap: UK£35.589m
              • Shares outstanding: 213.11m
              • Website: https://www.mirriad.com

              Number of Employees


              Location

              • Mirriad Advertising plc
              • 96 Great Suffolk Street
              • London
              • Greater London
              • SE1 0BE
              • United Kingdom

              Listings

              TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
              MIRIAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPDec 2017
              MMDD.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2017

              Biography

              Mirriad Advertising plc, a video technology company, provides in-video advertising solutions to advertisers, content creators, broadcasters, and brand owners and their agencies. The company offers embedded advertising into video. It serves customers in the United Kingdom, the United States, China, Singapore, India, Brazil, Italy, Ireland, Germany, and internationally. Mirriad Advertising plc was incorporated in 2015 and is based in London, the United Kingdom. 


              Company Analysis and Financial Data Status

              All financial data provided by Standard & Poor's Capital IQ.
              DataLast Updated (UTC time)
              Company Analysis2020/01/19 21:56
              End of Day Share Price2020/01/17 00:00
              Earnings2019/06/30
              Annual Earnings2018/12/31


              Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.