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Audioboom Group PLC - London-based podcasts producer - Reports record quarterly revenue of USD9.5 million for three months to March 31, up 49% on a year ago. Maiden quarterly adjusted earnings before interest, taxes, depreciation and amortisation of USD30,000, versus loss of USD500,000 year-on-year. Average global monthly downloads rose 37% to 87.1 million.
"Achieving adjusted Ebitda profitability for the quarter is an important milestone for Audioboom. We are now focused on ensuring 2021 continues to deliver even more success and even more value to our shareholders," says Chief Executive Stuart Last.
Company adds it is on track to deliver 2021 revenue well ahead of current market expectations, having already signed advertising bookings representing over 90% of the current market forecast for 2021 revenue.
Current stock price: 715.00 pence, up 2.1% on Wednesday
Year-to-date change: up sharply from 262.50p at end of 2020
By Lucy Heming;Â lucyheming@alliancenews.com
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