Audioboom continues to experience 'strong momentum' in Q4
By Iain Gilbert
Date: Wednesday 11 Dec 2024
(Sharecast News) - Podcast company Audioboom said on Wednesday that it has continued to experience "strong momentum" during Q4 and that it now expects adjusted underlying earnings to be at least $3.1m, surpassing recently upgraded market expectation of $2.8m.
Audioboom stated it has seen continued strong revenue growth from its Showcase marketplace, up 53% on November 2023, a record monthly brand advertiser count of 10,165, up 65% on last November, and an average global revenue per 1,000 downloads of $75.60, up 38% year-on-year.
The AIM-listed firm also expects to grow revenues to at least $73.0m this year, with a "significantly higher" adjusted EBITDA profit than initially forecast.
Audioboom added that it continues to perform "very well", and that it anticipates revenue growth for 2025 to be at least in line with the forecasted industry growth of 10%. Importantly, however, Audioboom stated its "higher quality revenue" was expected to generate "significantly higher" adjusted EBITDA profit in 2025.
As of 1000 GMT, Audioboom shares had rallied 8.09% to 364.25p.
Reporting by Iain Gilbert at Sharecast.com
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