Dianomi PLC on Thursday said it expected a decline in revenue, citing a fall in traffic volumes as a key issue.
The London-based digital advertising platform said it expected revenue of around £30.1 million for 2023, down 16% from £35.9 million in 2022.
Further, Dianomi anticipates adjusted loss before interest, tax, depreciation and amortisation of £300,000 to £400,000, swung from adjusted Ebitda of £1.6 million in 2022.
The company said: ‘Looking ahead, we expect to add key new publishers, extend our programmatic distribution and potentially benefit from increased traffic during a US election year.’
Chief Executive Officer Rupert Hodson said: ‘Traffic levels across major publications were significantly down and this unsurprisingly impacted our business in 2023. That said, we enter 2024 in a good position. Backed by a well-capitalised balance sheet, we have an encouraging pipeline of prospective advertisers and publishers, combined with new product launches which are expected to make contributions over the next 12 months.’
Dianomi expects to release its 2023 results in mid-April.
Dianomi shares were flat at 43.11 pence each on Thursday morning in London.
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