Audioboom turns to annual profit, says US tariff impact to be minimal

(Alliance News) - Audioboom Group PLC on Wednesday said adjusted earnings and revenue grew in the first quarter, as it expects a minimal impact on its business performance from US tariffs.

The London-based podcast producer said revenue grew 1.2% to USD17.3 million in the first financial quarter of the year from USD17.1 million a year before.

Adjusted earnings before interest, tax, depreciation and amortisation climbed to USD700,000 from just USD70,000.

Also on Wednesday, Audioboom reported that revenue rose 13% to USD73.4 million in 2024 from USD65.0 million in 2023. It swung to a pretax profit of USD904,000 in 2024 from a loss of USD16.8 million in 2023.

Audioboom expects a minimal impact from US trade tariffs, as its production and sale of inventory is within specific territories. Further, as the majority of its employees are based in the US, the increase in UK employer's national insurance contributions from April will not have a material impact on the firm's operating costs.

Chief Executive Officer Stuart Last said: "It is very pleasing to see the positive momentum of 2024 continue into the first quarter of 2025, and we are looking forward to that momentum building through the rest of the year. The team at Audioboom are continuing to create maximum value for our partners, and we look forward to delivering a record 2025."

In March, Audioboom reported a new partnership with Sounder, which will provide artificial intelligence to Showcase, which is Audioboom's global advertising marketplace.

Audioboom expects the introduction of AI capabilities to boost the expansion of the automated market place. CEO Last said: "Showcase and Sounder are a perfect match, and I'm excited about the positive value this alliance will bring to our advertisers and podcast creators. AI will supercharge our platform in the coming years as we develop a more sophisticated product that meets the needs of our global blue-chip brand partners."

Audioboom shares fell 8.1% to 400.00 pence each on Wednesday morning in London.

By Tom Budszus, Alliance News slot editor

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