Aferian PLC, a B2B video streaming solutions company, has provided a trading update for the year ended 30 November 2023. The Group expects to report revenue of approximately $47-48 million and a positive adjusted EBITDA of approximately $1.6-2.6 million. However, the Group is experiencing a lengthening of sales cycles, with procurement taking longer during the contracting phase. The signing of advanced stage deals has now shifted into Q1 FY24. The Group has taken management actions in the past year to reduce its annualized cost base by approximately $12 million, and further adjusted EBITDA improvements are expected in FY24. Net debt at 30 November 2023 is expected to have reduced to approximately $6.0 million from $12.9 million in May 2023. Aferian expects to report its full-year results for the year ended 30 November 2023 in March 2024.