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Dianomi expects to record small loss in FY24
(Sharecast News) - Digital advertising business Dianomi warned on Tuesday that it and to record a small loss in FY24 compared to market expectations of a small profit. Dianomi now expects revenue for the year to be broadly in line with market expectations at roughly £28.0m but cautioned that it would likely be in the red on an adjusted EBITDA level.
The AIM-listed group stated that while traffic across its premium publisher base remained steady, the uplift from the US election was less pronounced than widely anticipated. Alongside this, demand from its premium advertiser base had been softer than expected.
Dianomi added that cash at year-end was expected to be in line with market expectations of £7.8m and said it remains debt-free.
As of 1050 GMT, Dianomi shares were untraded at 45.0p.
Reporting by Iain Gilbert at Sharecast.com
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