StockMarketWire.com - In-game advertising group Bidstack said it has grown revenue as it made 'material progress' on the demand side in the first half, with advertisers moving beyond initial test spends.

In its interim results for the six months to 30 June 2020, the company reported revenue of £274,079, up from £26,692 in the same period in 2019.

Gross profit of £76,742 is up from £6,406 a year earlier, but its loss per share has increased to 1.18p, up from a loss of 0.83 pence per share in the period ended 30 June 2019.

The company reported that among its operational highlights in the first half of 2020 were advertising campaigns attracted from the US, mainland Europe and the UK, and initial small spend campaigns run for brands including Activision Blizzard, Audi, BBC, Vodafone, VW and Warner Music.

Bidstack said it expanded from 49 employees on 31 December 2019 to 62 at 30 June 2020.

Chief executive James Draper said: 'We have continued to make further progress towards our goal of becoming a leading platform to deliver in-game advertising and remain at the forefront of the creation of in-game advertising as a new advertising category.

'This includes progress on the demand side, where we are now experiencing advertising customers moving beyond initial test spends, as well as the supply side where we continue to work with and engage a number of the world's largest video games developers and publishers.'

He added that, as announced on 28 May 2020, the board continues to expect revenues for 2020 to be 'very significantly' second-half weighted.

At 10:00am: [LON:BIDS] Bidstack Group Plc Ord 0.5p share price was -0.6p at 6.7p



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