REG - Audioboom Group PLC - Trading Update

AudioboomAnnouncement

15/11/2024 07:00

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RNS Number : 3252M  Audioboom Group PLC  15 November 2024

 

 

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                              Tel: +44(0)20 3714 4285

 Brad Clarke, Chief Financial Officer

 Cavendish Capital Markets Ltd (Nominated Adviser and Broker)
 Jonny Franklin-Adams/Abigail Kelly/Rory Sale (Corporate Finance)  Tel: +44(0)20 7220 0500

 Harriet Ward (ECM)

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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