Media localisation firm reduces loss forecast as pipeline accelerates

Zoo Digital has reduced its forecast loss as its pipeline accelerates in the wake of the Hollywood strikes that halted production last year.

The firm said January invoicing was the highest monthly total since April 2023, and its pipeline of work was accelerating through March and April.

It now expects full-year revenues of at least £40m, and has says its anticipated EBITDA losses will beat market expectations of $14m (£11m).

In a trading update to the London Stock Exchange, the firm said, “Many orders are currently in progress and a growing pipeline of further projects over this period has been confirmed. The Company’s order book for FY25 Q1 is currently up by 30% on FY24 Q4. This order pipeline from major customers underpins an expectation of a strong recovery in revenues in FY25 H1.

“Despite the implemented cost savings which have resulted in expected Q1 direct staff costs 30% below the prior year period, the company is well positioned to take on increased levels of business as the industry reopens.”