Bidstack warns of 'minor' revenue growth, operating loss

Advertising firm Bidstack warned on Tuesday that revenue growth would again be "minor" in 2020 as it looked to continue making investments in the new year.

Bidstack said it expects first-half revenues of around £150,000 and that material revenues would not be generated until the second half of the trading year.

The AIM-listed group also expects an operating loss of £5.3m for the year ended 31 December, while net assets were expected to be in the region of £3.57m.

Bidstack said it intends to make further investments into the gaming market ahead of the launch of Microsoft's new Xbox console and the Sony PlayStation 5.

"With the connections Bidstack has made through its advisory committee and board members, the directors believe the Company is well-positioned strategically to capitalise on the commercial and technical opportunities ahead," said the firm.

Bidstack said medium and longer-term interests require it to continue with its strategy of prioritising technical investment over seeking short-term revenues in order to take full advantage of the "potentially significant shifts" in technology and media planning capabilities which are underway.

Bidstack previously said it had failed to meet its 2019 full-year revenue targets.

As of 1045 GMT, Bidstack shares had slumped 17.42% to 6.40p.