Mirada interim results for the six months to 30 September 2019

Monday, November 18th, 2019 
Mirada logo

Mirada plc interim results for the six months to 30 September 2019

  • Contract win with Plataforma Multimedia de Operadores (“PMO”) for the development of its new OTT-based TV platform.
  • Over $3m in purchase orders for services and licences related to new Android TV deployments.
  • Mirada’s Iris platform integrated with Netflix and first rolled-out in Mexico, increasing licence installations.
  • As of 30 September 2019, izzi Telecom had deployed 2.5m set-top boxes, bringing Mirada’s technology into more than 1.3m households.
  • Commercial rollout with ATN international (ATNi) Bermuda reached 90% of households by 30 September 2019. Second deployment under the ATNi contract expected in the next few months.
  • As of 30 September 2019, Skytel in Mongolia had brought Mirada’s technology into more than 75,000 households, at a rapid growth surpassing the Company’s initial expectations.

Mirada plc (AIM: MIRA), a leading provider of integrated software and solutions for Digital TV operators and broadcasters, announces its unaudited interim results for the six months to 30 September 2019.

Customer rollouts

Our largest customer, izzi Telecom (part of the Televisa Group) further increased its adoption of our technology during the period, with a high increase in both the installation rate of set-top boxes and number of households using Mirada products. At 30 September 2019, the number of set-top boxes surpassed the 2.5 million mark, with a net addition of 0.5 million during the six-month period, covering more than 1.3 million households and 4.2 million TV subscribers. We are pleased that izzi recognises the calibre of our technology and will continue replacing its legacy platform with our products.

ATNi’s performance in Bermuda has been very satisfactory so far, with more than 90% of the customer’s subscribers on the island now using our product. We expect further deployments in additional countries during the coming months, and our team is working hard on the next commercial launch.

Digital TV Cable Edmund S.R.L. (“Digital TV Cable”), based in Bolivia, experienced slight delays in its proposed roll-out due to issues relating to internal resourcing and agreements for the provision of certain services. We expect Digital TV Cable to resume commercial roll-out of our products during the next few weeks. Political uncertainties in the country did not affect our project, although we are happy these matters appear to be nearing a resolution.

The deployment of phase one at SkyTel in Mongolia, which covers our OTT project, is well ahead of expectations with more than 75,000 subscribers using our product by the end of the reported period. We received very good feedback from the customer, and we are expecting to extend the relationship with SkyTel in the near future.

New customer wins

On 4 September 2019, the Company announced a contract win with PMO for the development of its new OTT-based TV platform. PMO is a new Spanish OTT enabler whose main shareholder is Procono S.A.U., and with secondary shareholders Opencable, ACUTEL and AOTEC, all of which are long standing players in the Digital TV market in Spain.

Links: Mirada