15th Oct 2024 12:11
(Alliance News) - Audioboom Group PLC on Tuesday said it anticipates a jump in revenue, citing its global ad-tech based marketplace Showcase.
The Jersey, England-based podcast publisher said it expects to report a revenue of USD18.8 million in the third quarter of 2024, a record and 34% higher than USD14.0 million a year ago.
Further, adjusted earnings before interest, tax, depreciation and amortisation are anticipated at USD1.0 million, also a record. A year ago, Audioboom had expected an adjusted Ebitda loss of USD1.7 million for the third quarter of 2023.
"Our 34% revenue growth this quarter was driven by Showcase - our global ad-tech based marketplace. Our technology innovation, combined with our focus on attracting blue-chip brands to the platform, led to Showcase recording USD7.0 million of revenue, up an impressive 99% on the same period last year," said Chief Executive Officer Stuart Last.
He added: "The final quarter is always an exciting time for the business, buoyed by strong advertising demand around sports seasons and the holidays. This year the US election will boost that demand further - our politics and news programming slates have seen their audiences grow by more than 34% during the early part of presidential campaigning, and this growth has quickly translated to revenue opportunity."
Audioboom shares rose 6.1% to 222.70 pence each on late Tuesday morning in London.
By Tom Budszus, Alliance News slot editor
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