10th Jan 2022 14:20
Audioboom Group PLC - London-based podcast producer - The booming popularity of podcasts helps Audioboom generate a maiden profit and significant revenue growth for the year. Revenue for the year ended December 31 more than doubled to around USD60.2 million from USD26.8 million the year before. Posts earnings before interest, tax, depreciation and amortisation of around USD3.0 million, ahead of market expectations and compared to a USD1.8 million loss the year before. Average global monthly downloads for fourth quarter increases to 113 million, up 39% on 81.7 million a year earlier.
Chief Executive Stuart Last comments: "2021 was a phenomenal year for Audioboom. In my second year leading the business we have delivered an incredible set of results, the culmination of our focus on content expansion and platform development. Achieving profitability on both an adjusted Ebitda and net basis is transformative, establishing a self-sustaining business funded for continued growth, and reshaping shareholder value."
Current stock price: 1,505.55 pence, up 6.8% Monday
12-month change: up sharply from 240.00p
By Will Paige; [email protected]
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