Trading Update

8 June 2021

AMINO TECHNOLOGIES PLC

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

Trading Update

-     Strong progress against 2025 strategy and key medium term KPIs -

-     H1 revenue expected to be significantly ahead of prior year with continued improvement in earnings quality and visibility -

Cambridge - 8 June 2021 - Amino Technologies plc (LSE AIM: AMO), a software-led global media technology company that delivers modern TV experiences, announces a trading update for the six months ended 31 May 2021.     

The Group has traded well during the period with revenue for the first half expected to be approximately $45.3m (H1 2020: $38.0m), 19% ahead of the prior year. Improving quality of earnings and enhancing visibility continues to be an area of focus and of progress with the Group expected to report higher margin software and services revenue of approximately $10.0m (H1 2020: $9.7m), and an exit run rate Annual Recurring Revenue (ARR) of approximately $13.8m (H1 2020: $10.1m), 37% ahead of the prior year.

The Group has also made strong progress against its 2025 strategy, capitalising on the convergence of streaming services and traditional Pay TV. In May 2021 the Group acquired Nordija, a Danish streaming and Pay TV platform specialist.  Nordija, which will be integrated into the Group's 24i business, will enhance and scale the Group's end-to-end video streaming portfolio and is expected to be earnings enhancing in the first full financial year of ownership.

As at 31 May 2021 the Group had gross cash of $17.0m, drawn credit facilities of $7.0m and undrawn credit facilities of $8.0m.  Strong sales toward the interim period end led to an increase in receivables as at period end, all of which are expected to be collected in H2. The Group's cash deposit relating to the bid for MobiTV of $1.8m was subsequently refunded in full on 2 June 2021.

The Group continues to retain in full the net proceeds of its recent £9.4m equity fundraising to fund future acquisition opportunities in order to help it continue to deliver against its 2025 strategy.

The Board remains confident of the Group's prospects and will provide a further update on trading when it announces half year results for the six months ended 31 May 2021 on 3 August 2021.

Donald McGarva, CEO of Amino Technologies plc, said:

"We have had an excellent first half. We have grown revenue by 19% and recurring revenue by 37% and enter the second half of the year confident in meeting our full year expectations. We have executed strongly on our strategy and this progress provides us with the confidence to fulfil our ambitious growth plans. We continue to focus on growing software and recurring revenue whilst at the same time strengthening our long-term customer relationships and making it easy for people to connect to the TV and video they love."

This announcement contains information that was previously Inside Information, as that term is defined in the Market Abuse Regulation (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014) and successor UK legislation.

-ENDS-

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About Amino Technologies plc

Amino Technologies plc is a software-led, global Media Technology company. We deliver modern TV experiences, the way viewers want them. We do this by creating the solutions that Pay-TV operators, broadcasters and content owners need to make it easy for people to connect to the TV and video they love.

Our end to end solutions, offer the best of both worlds: video on demand and live TV.  By placing all TV and video streaming content in one place, Pay-TV operators, broadcasters and media owners can stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering modern TV and video experiences to consumers. 

Amino Technologies plc has two operating companies: 24i, which focusses on streaming video experiences and Amino, which connects Pay-TV to streaming services. Our two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. Our solutions deliver modern TV and video experiences every day to millions of viewers globally, via our growing global customer base of over 500 service providers.

Amino Technologies plc is listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AMO). Headquartered in Cambridge, UK, the company has over 300 staff located in offices in New York, Los Angeles, San Francisco, Amsterdam, Helsinki, Madrid, Porto, Brno and Hong Kong.

For more details, visit www.aminotechnologies.com