Audioboom reports record monthly performance

(Sharecast News) - Audioboom reported record monthly performance in November on Friday, with revenue reaching a high of $9.1m and gearing strongly to adjusted EBITDA, as the AIM-traded podcast group highlighted accelerating growth in distribution, advertising inventory and video monetisation ahead of its full-year update in January. The company said November marked its strongest month for both revenue and profitability metrics, supported by a record 152 million downloads and video views, up 66% from 92 million a year earlier.

Total available advertising inventory rose to a new high of 1.5 billion impressions during the month, with its Showcase offering contributing more than one billion impressions for the first time.

Audioboom also reported record monthly video revenue, with video podcasts accounting for 16% of creator network revenue.

Chief executive Stuart Last said the performance underlined the scalability of the group's operating model during its seasonally strongest quarter.

"November represented our best ever month in our seasonally strongest quarter of the year, demonstrating both the capability of our operating model and the value of the automation embedded across the business," he said, adding that "these efficiencies enabled November's record revenue to strongly gear to adjusted EBITDA for the period."

Last said distribution and advertising inventory had expanded significantly in the second half following the acquisition of Adelicious in July, while Audioboom continued to strengthen its position in video podcasting.

"We are a leader in video podcasting, maintaining our number-one ranking in the Podscribe video chart and strengthening our video monetisation engine," he said.

The company said a full update on 2025 trading would be provided in January.

At 1338 GMT, shares in Audioboom Group were up 1.11% at 616.75p.

Reporting by Josh White for Sharecast.com.