TIDMBOOM
RNS Number : 5635N
Audioboom Group PLC
21 January 2019
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
21 January 2019
Audioboom Group plc
("Audioboom" or the "Company")
Trading Update
92% revenue growth, reduced EBITDA loss, operating cash flow
breakeven for final 3 months
Audioboom (AIM: BOOM), the leading global podcast company, is
pleased to provide an unaudited update for the 13 months to 31
December 2018.
Highlights
-- Revenue up 92% to US$11.7 million (12 months ended 30
November 2017: US$6.1 million), with significant growth in the
final three months of the period
o Revenue per 1,000 listens in the US (eCPM) increased to
US$25.87 in December 2018, up 36% from US$19.02 in May 2018 (H1
2018)
-- Adjusted EBITDA* loss reduced to US$5.2 million (12 months
ended 30 November 2017: loss of US$5.7 million), with much improved
performance in the final three months of the period
-- Group cash as at 31 December 2018 of US$1.6 million (30 September 2018: US$1.6 million)
o Operating cash flow breakeven achieved in the final three
months of the period
-- Brand advertiser count of 160 in December 2018, up from 130 in May 2018 (H1 2018)
* before exceptional items (including the costs of the aborted
Triton Digital transaction and corporate restructuring)
The Board is pleased to report this strong performance in the 13
months to 31 December 2018 as the Company continues to enhance its
position as the leading global podcast company. Furthermore, this
performance is particularly pleasing given the significant
challenges that the aborted Triton Digital acquisition created
during 2018.
Given the momentum generated in the second half of the year, the
Board is optimistic and excited about the opportunities that lie
ahead in 2019, with further strong growth in revenue expected.
Rob Proctor, CEO of Audioboom, said: "2018 posed exceptional
challenges for the business, so it is hugely satisfying that our
revenues have almost doubled. Even more significant is the cash
flow break even performance in the final three months of the
period, achieved through higher revenues, continued cost control
and improved financial processes.
"During 2018, Audioboom consolidated its position as the 'go to'
platform for top talent and broadcasters such as Formula 1(R),
Jonathan Ross and Heston Blumenthal, the latter two having launched
podcasts with us in late 2018.
"The exciting results in the final three months of the period,
2019 pre-booked advertising campaigns and content acquisition
pipeline are all pointing towards a further significant increase in
Company performance in 2019.
"I would like to take this opportunity to thank the entire
Audioboom team for their professionalism and effort throughout the
whole of 2018 and also to thank our shareholders for their loyalty
and vision in supporting Audioboom as it continues to grow."
Enquiries
Audioboom Group plc
Rob Proctor, Chief Executive Officer Tel: +44(0)20 7403 6688
Allenby Capital Limited (Nominated adviser Tel: +44(0)20 3328 5656
and Joint Broker)
David Hart /Alex Brearley/Asha Chotai
Novum Securities (Joint Broker) Tel: +44(0)20 7399 9400
Colin Rowbury/Jon Belliss
Walbrook PR Limited (PR & IR Advisers) Tel: +44(0)20 7933 8780
Paul Cornelius / Sam Allen or audioboom@walbrookpr.com
About Audioboom
Audioboom is the leading global podcast company, consolidating
the business of on-demand audio, making content accessible,
wide-reaching and profitable for podcasters, advertisers and
brands. Audioboom operates internationally, with operations and
global partnerships across North America, Europe, Asia and
Australia, and addresses the issue of disparate podcast services by
putting all of the pieces of the puzzle together under one
umbrella, creating a user-friendly, economical experience.
Audioboom hosts over 13,000 content channels, with key partners
including A+E Networks (US), Associated Press (US), 'Astonishing
Legends' (US), 'Casefile True Crime' (AUS), Edith Bowman (UK),
'Felon True Crime Podcast' (AUS), 'F1:Beyond The Grid' (UK),
Jonathan Ross (UK), 'Moneycontrol Podcast' (India), 'No Such Thing
As A Fish' (UK), Red FM (India), Starburns Audio (US), 'The Cycling
Podcast' (UK), 'The Totally Football Show' (UK), 'The True Geordie
Podcast' (UK) and 'Undisclosed' (US).
Original content produced by Audioboom includes 'The 45th' (US),
'Covert' (US), 'I Almost Knew That' (India), 'The Psychology Behind
with Dr Linda Papadopoulos' (UK), 'Ctrl Alt Win Podcast' (India),
'Deliberations' (US), 'It's Happening with Snooki & Joey' (US),
'Mafia' (US), 'Mission To Zyxx' (US),' Night Call' (US) and 'The
Russell Brand Podcast' (UK).
The platform receives over 60 million listens per month and
allows partners to share their content via Apple Podcasts,
BookMyShow, Deezer, Google Podcasts, iHeartRadio, RadioPublic,
Saavn, Spotify, Stitcher, Facebook and Twitter as well as their own
websites and mobile apps.
For more information, visit audioboom.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTLLFEDLEITLIA
(END) Dow Jones Newswires
January 21, 2019 02:00 ET (07:00 GMT)
Audioboom (LSE:BOOM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Audioboom (LSE:BOOM)
Historical Stock Chart
From Jul 2023 to Jul 2024
