Sweden's Acast Q3 sales rise 25% on US growth
Sweden's Acast Q3 sales rise 25% on US growth
Overview
Swedish podcast monetisation platform's Q3 net sales rose 25% yr/yr, led by North America
Adjusted EBITDA nearly doubled, and adjusted EBIT margin reached a record high
Company acquired Backyard Ventures during the quarter, expanding US presence and omnichannel capabilities
Outlook
Company did not provide specific financial guidance for the current or upcoming periods in its press release
Result Drivers
NORTH AMERICA GROWTH - Co said net sales in North America rose 54% yr/yr, making it the largest segment
HIGHER REVENUE PER LISTEN - Co said Average Revenue Per Listen or View (ARPLV) increased 20% yr/yr to SEK 0.69
BACKYARD VENTURES ACQUISITION - Co said Backyard Ventures contributed SEK 28m in sales in Q3
Company press release: ID:nMFNbxJrJq
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 802.30 mln |
|
Q3 EPS |
| SEK 0.24 |
|
Q3 Adjusted EBITDA |
| SEK 77.80 mln |
|
Q3 Gross Margin |
| 39% |
|
Q3 Adjusted EBITDA Margin |
| 10% |
|
Q3 EBIT |
| SEK 47.70 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Acast AB (publ) is SEK47.00, about 45.1% above its October 27 closing price of SEK32.40
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 42 three months ago
Reuters Recommended Reads
Oct 27 - Sweden's Storytel Q3 sales rise 16% as subscribers grow
Oct 26 - Finland's Nitro Games Q3 revenue falls 35%, posts net loss
Oct 26 - Trading platform Plus500 Q3 revenue rises on customer growth
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)