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
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Audioboom Group plc
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Stuart Last, Chief Executive
Officer
Brad Clarke, Chief Financial
Officer
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Tel: +44(0)20 3714 4285
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Cavendish Capital Markets Ltd (Nominated Adviser and
Broker)
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Jonny Franklin-Adams/Abigail
Kelly/Rory Sale (Corporate Finance)
Harriet Ward (ECM)
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Tel: +44(0)20 7220 0500
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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.