Audioboom profits crescendo as podcaster ditches lower-quality contracts
Published: 03:30 09 Apr 2025 EDT
Audioboom Group PLC (AIM:BOOM) shares rose then fell on Wednesday morning as the podcasting company reported a record first quarter and said it expected minimal disruption from new US tariffs.
The first three months of 2025 saw record RPM (revenues per 1,000 downloads) of US$60.83, up 17%, while its brand advertiser count climbed 14% to 8,974 and the company averaged 94.8 million monthly downloads and video views.
An underlying profit (adjusted EBITDA) of US$0.7 million was reported for the quarter, a tenfold increase on the same period last year, as revenue rose 1% to US$17.3 million.
Group cash at 31 March stood at US$4.3 million.
Contracted revenue for the year exceeded US$63 million, the company said, noting that Q1 is historically the seasonal low point for revenue and EBITDA profit.
Chief executive officer Stuart Last said the profit growth was "a fantastic way to kick-off 2025".
He said a "focus on higher quality revenue led us to relinquish a number of low-performing contracts during the quarter. We replaced them with higher-margin revenue – so while our revenue growth is in the low single figures, it is significantly healthier, and it is exactly where we expected it to be."
The shares rose to 450p in initial trading before falling over 8% amid a wider tariff-associated sell-off, but soon reduced this to a 2.3% decline at 412p, though this is well off its two-year highs of over 660p seen in February.
