Interactive TV specialist Mirada says it is poised for growth fuelled by new contracts in Latin America, despite reporting lower year-on-year revenues.
Mirada says it has secured a contract with a tier one Latin American operators after a US$1.4 million trial since the end of its financial year in June. The company has also placed £3.5 million worth of shares to provide funds for its expansion into Latin American OTT.
Mirada posted full year revenues of £4.57 million, down from £4.84 million. However, revenues from subscriber-based licence fees grew from £1.49 million to £1.74 million.
The company posted a small increase in adjusted EBITDA from £0.98 million to £1.02 million, and turned a 2013 loss of £0.24 million to a profit of £0.04 million.
“We have now entered a new stage in which major players are showing an increased interest in our capabilities. The company is an advanced negotiations with other potential customers, and we expect to announce new deals after the summer break. References are key in this market and we are now winning really important ones,” said CEO José Luis Vázquez.