Audioboom reposted this
What a great Q3 for Audioboom Here’s a few highlights; Q3 Revenue of $18.8m (up 34%). Growth significantly ahead of industry again. The ad market has improved a lot over the last 12 months but there’s still 10-15% of pricing upside before it’s back to good health again Q3 Adjusted EBITDA profit of $1m with YTD EBITDA of $1.3m Analyst upgrades full year EBITDA to $2.5m With a strong Q4 shaping up I’m confident @audioboom can outperform this new target Revenue and EBITDA being driven by Showcase, our ad-tech based global ad market place. Revenue doubled in a year to record $7m, contributing 37% of our Group revenue (up from 11% in 2021) At 31% gross margin, showcase is driving EBITDA Why is Showcase booming? 1. Our brand advertising unit which launched last Fall is bringing in high quality brands 2. Pricing up more than 60% - ad targeting capabilities are strong for brands 3. Volume - we sold more than 1 billion impressions via showcase this quarter The Audioboom Creator Network is growing again with downloads up around 2 million a month over Q2 The impact of Apple’s iOS17 update is dropping away. It will still constrain revenue - this year could’ve been off the charts! Record eCPM of $66.06 - this is market leading. Our platform extracts more value for independent creators than anyone else out there. Per Edison and Triton we continue to be the 5th biggest US publisher and the biggest podcast pureplay Further contract restructuring to reduce minimum guarantee obligations, combined with static opex has delivered strong EBITDA and this will continue into Q4 Q4 shaping up to be our strongest quarter yet. An extra boost from US election, but mostly a model that works!