December 2017 •
Brave Bison Group plc (AIM: BBSN), the social video company, today provides a trading update for year to 31 December 2017.
The Board expects to report Net Revenues of approximately £9.1m, ahead of expectations, and an adjusted EBITDA* loss of £0.9m which includes a forecast £0.4m foreign exchange loss (2016: £1.4m gain).
*excludes exceptional items and share-based payments
The Group continues to move up the value chain, with an increased focus on production and branded content deals, resulting in higher-margin revenues. Although slower than originally anticipated, and therefore now expected to take somewhat longer to achieve profitability, it has resulted in a substantially reduced expected EBITDA* loss for 2017 (2016: loss of £1.8m).
At 30 November 2017, the Group had £4.1 million in cash and remains funded, on current expectations, to reach profitability.
The Group expects to announce full year 2017 results towards the end of March 2018, to include an update from the new management on the strategy for the business.