BOOM.L

Audioboom Group Plc
Audioboom Group PLC - Trading Update
15th November 2024, 07:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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

Brad Clarke, Chief Financial Officer

 

Tel: +44(0)20 3714 4285

 

 



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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTFFMFMLELSEIF]]>
TwitterFacebookLinkedIn