Audioboom Group plc
("Audioboom", the "Group" or the "Company")
Trading Update
Continued strong momentum and EBITDA profit ahead of current market expectations
Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce that it has continued its strong momentum into the fourth quarter of 2024 and the Board now expects that Audioboom will generate an increased adjusted EBITDA(1) profit of US$2.8 million, even further ahead of the recently upgraded market expectation of US$2.5 million.
This performance has been driven by the continued strong revenue growth from Showcase - our scalable, higher gross margin, tech-based advertising marketplace, which recognised 49% more revenue in October 2024 versus the same period last year.
Stuart Last, CEO of Audioboom, commented: "Audioboom's strong performance has continued into the final quarter of the year and we are set to deliver at least US$2.8 million of adjusted EBITDA profit. With confidence in advertising demand for the remainder of our strongest quarter of the year, I am very pleased to see a second upgrade to our adjusted EBITDA profit expectations this year."
1) Earnings before interest, tax, depreciation, amortisation, share based payments, non-cash foreign exchange movements, material one-off items and onerous contract provisions and losses incurred
Enquiries
| Audioboom Group plc | |
| Stuart Last, Chief Executive Officer Brad Clarke, Chief Financial Officer
| Tel: +44(0)20 3714 4285
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| Cavendish Capital Markets Ltd (Nominated Adviser and Broker) | |
| Jonny Franklin-Adams/Abigail Kelly/Rory Sale (Corporate Finance) Harriet Ward (ECM)
| Tel: +44(0)20 7220 0500 |
About Audioboom
Audioboom is a global leader in podcasting - our shows are downloaded 100 million times each month by 38 million unique listeners around the world. Audioboom is ranked as the fifth largest podcast publisher in the US by Triton Digital.
Audioboom's ad-tech and monetisation platform underpins a scalable content business that provides commercial, distribution, marketing and production services for a premium network of top tier podcasts. Key partners include the official Formula 1 podcasts 'F1: Beyond the Grid' and 'F1 Nation', 'Casefile True Crime' (US), 'True Crime Obsessed' (US), 'The Tim Dillon Show' (US), 'No Such Thing As A Fish' (UK) and 'The Cycling Podcast' (UK).
Audioboom operates internationally, with global partnerships across North America, Europe, Asia and Australia. The platform distributes content via Apple Podcasts, YouTube, Spotify, Pandora, Amazon Music, Google Podcasts, iHeartRadio, Facebook and Twitter as well as a partner's own websites and mobile apps.
For more information, visit audioboom.com.
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