Trading Update and Change of Adviser

Aferian PLC

11 December 2024

 

11 December 2024

AFERIAN PLC

("Aferian", the "Company" or the "Group")

Trading Update for the Year Ended 30 November 2024

and

Appointment of Nominated Adviser and Broker

Aferian plc ("Aferian" or the "Group"), the B2B video streaming solutions company, provides the following trading update for the year to 30 November 2024.

Financial Highlights

The Group expects to report:

·     Full year FY24 revenue of c$26 million (24i c$14.2m, Amino c$11.8m). This includes second half revenue growth of c13% compared to H1 2024. 

·     Significantly improved adjusted EBITDA in H2 FY24 of c$2.0 million compared to an adjusted EBITDA loss of $2.4 million in H1 FY24 - a c.$4.4 million turnaround driven by H2 revenue growth and headcount driven cost reductions.

·    A material reduction of $2.4m in net debt at 30 November 2024 to $12.5 million (31 May 2024: $14.9 million).

A combination of Amino's contracted order book and 24i's annual recurring revenue means the group has approximately $18m of FY25 revenues already committed.

Operational Highlights

24i: 24i's mission is to improve the video entertainment experience for consumers by delivering its next generation 24i Video Cloud. This ready-made configurable platform enables customers across the Broadcast, PayTV and Direct to Consumer streaming segments to both upgrade the user experience and drive operational efficiencies. The 24i offering has considerable competitive advantages including a single platform, speed of set up and ease of configuration by the merchant. As a result, 24i delivered several new customer wins in the second half of FY24.

Amino: Following a focused period of investment in sales and marketing, Amino received higher-than-expected sales orders in FY24 for its Enterprise Video and Digital Signage devices. In November 2024, Amino also secured a significant order from a second major gambling operator for c$1.3m This operator is migrating from legacy satellite delivery to next-generation, low-latency IP video delivery using Amino's enterprise video and digital signage devices and SaaS management platform across its retail locations. Amino's Enterprise Video and Digital Signage devices are seen as the primary growth driver for Amino. Encouragingly, sales orders also increased in the latter half of FY2024 for PayTV devices.

Mark Carlisle, CEO of Aferian Plc, commented:  

"FY24 marks a year of transformation and progress for Aferian with both the Amino and 24i businesses becoming EBITDA positive and cash flow generative in the second half. That strong second-half performance reflects both the dedication of our teams to delivering for our customers and increasing demand for our products. As a result of new customer wins and an increase in sales orders in the second half of 2024, we expect this strong momentum to continue into 2025."

Further details on the Group's full-year financial performance will be provided in our audited results announcement.

Appointment of Nominated Adviser and Broker

The Company also announces the appointment of Zeus Capital Limited ("Zeus") as its Nominated Adviser and Broker with immediate effect.

For further information contact:

Aferian plc	[phone]
Mark Carlisle, Chief Executive Officer
Zeus (Nominated Adviser and Broker)	[phone]
Hugh Morgan, Alexandra Campbell-Harris (Investment Banking)
Benjamin Robertson (ECM)

About Aferian plc

Aferian plc (AIM: AFRN) is a B2B video streaming solutions company. Our end-to-end solutions bring live and on-demand video to every kind of screen. We create the forward-thinking solutions that our customers need to drive subscriber engagement, audience satisfaction, and revenue growth.

It is our belief that successful media companies and services will be those that are most consumer-centric, data driven and flexible to change. We focus on innovating technologies that enable our customers stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering end-to-end modern TV and video experiences to consumers. By anticipating technological and behavioural audience trends, our software solutions empower our customers to heighten viewer enjoyment, drive growth in audience share and ultimately their profitability.

Aferian plc is traded on the London Stock Exchange's AIM stock market (AIM: symbol AFRN). Headquartered in Cambridge, UK, the Company operates across the USA, Europe and Asia. For more information, please visit www.aferian.com.

 

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