Stuart Last of Audioboom: Podcasting is the fastest growing media sector and we are outpacing our competitors
Episode 971, Oct 20, 2022, 06:25 AM
Stuart Last CEO of Audioboom #BOOM discusses their trading update which showed revenues increase by 44% to $57.1 million, a period in which they outpaced their competitors in the fastest growing media sector of podcasting.
Financial Highlights
· Total revenue for the nine months to 30 September of US$57.1 million, up 44% on the same period last year (US$39.7 million)
· Quarterly revenue of US$16.2 million (Q3 2021: US$16.9 million) as global economic headwinds impacted advertising demand - however, a recovery is already underway with August and September up on the July low-point and further improvements forecast throughout Q4 with management expecting a positive end to the year
· Audioboom's growth of 44% continues to significantly outpace wider market growth of 15%(1)
· Total adjusted EBITDA profit for the nine months to 30 September of US$2.7 million, up 125% on the same period last year (US$1.2 million). Quarterly adjusted EBITDA profit of US$0.6 million (Q3 2021: US$1.0 million)
· Average Q3 global monthly downloads of 107.5 million, up 9% on Q3 2021 (99.1 million)
· Average Q3 brand advertiser count of 333 (Q3 2021: 370), lower due to headwinds impacting advertising demand
· Average Q3 global revenue per 1,000 downloads (eCPM) of US$50.03 (Q3 2021: US$54.77)
· Group cash of US$8.0 million (30 June 2022: US$5.8 million) with a further US$1.7 million available via an undrawn overdraft
· The Company has contracted revenue in excess of US$73.0 million for 2022 through advance advertising bookings
To read the full RNS click here
Financial Highlights
· Total revenue for the nine months to 30 September of US$57.1 million, up 44% on the same period last year (US$39.7 million)
· Quarterly revenue of US$16.2 million (Q3 2021: US$16.9 million) as global economic headwinds impacted advertising demand - however, a recovery is already underway with August and September up on the July low-point and further improvements forecast throughout Q4 with management expecting a positive end to the year
· Audioboom's growth of 44% continues to significantly outpace wider market growth of 15%(1)
· Total adjusted EBITDA profit for the nine months to 30 September of US$2.7 million, up 125% on the same period last year (US$1.2 million). Quarterly adjusted EBITDA profit of US$0.6 million (Q3 2021: US$1.0 million)
· Average Q3 global monthly downloads of 107.5 million, up 9% on Q3 2021 (99.1 million)
· Average Q3 brand advertiser count of 333 (Q3 2021: 370), lower due to headwinds impacting advertising demand
· Average Q3 global revenue per 1,000 downloads (eCPM) of US$50.03 (Q3 2021: US$54.77)
· Group cash of US$8.0 million (30 June 2022: US$5.8 million) with a further US$1.7 million available via an undrawn overdraft
· The Company has contracted revenue in excess of US$73.0 million for 2022 through advance advertising bookings
To read the full RNS click here