Member Info for Bearhunt3r

Brilliant post Rifkin.

One of these accursed Pavolian dogs, by the name of Zak7795, has tragically resorted to sacrificing the lives of his two children. Such actions reflect a profound sense of desperation.

Another falsehood by the individual identified as LyingkingZak7795, with 67% being sells and 33% being buys, not 100% sells. This data, although of limited significance, appears to be a deliberate attempt by zak7795 to deceive others once again. You can check the data on IG. It is evident that your record of deceit is growing steadily, zak7795.

5 Oct 2024 11:13

As the blowout Q3 results approach, the desperation of derampers to manipulate increases. It can be assumed that these manipulators are under close observation and scrutiny. If AB were indeed a valueless stock, there would be no reason for these charlatans to be making such desperate efforts to artificially drive its price down.”

As evidenced in my preceding post, it is evident that these manipulative trolls are displaying a high level of desperation. For the benefit of newcomers, below is a direct excerpt from zak7795's posting history.

Zak7795 Direct quote from your post on 10/09/24:

"i'll make a promise on my kids lives. these will be 200p in 2 weeks. if they aren't i promise promise i'll never comment on this forum again"

Zak7795 has resumed posting; what does this signify to everyone?

Your assertion in your previous post clearly indicates your desire to buy in at a lower price, reason for your trolling behaviour. It appears that you are experiencing the anticipated challenges, as indicated in my posting history.

Some examples explained here and other links found with a simple search:

https://www.investopedia.com/terms/m/manipulation.asp

This one perhaps: poop-and-scoop scheme, in which false derogatory statements are made about a stock in order to buy it on the cheap. There's also the short-and-distort variety, essentially a poop-and-scoop executed by short-sellers in order to profit.

The short positions are still currently open.

The desperation can be palpably sensed from individuals who have been negatively impacted by their short positions on this stock today - they resemble lemmings.

Please review the track record of the individuals who have been exposed for their trolling to protect short positions. You are encouraged to examine all of my previous posts to gain a comprehensive understanding. The value of AB shares is expected to increase exponentially in the upcoming weeks and months. The short sellers who have engaged in unethical activities will no longer be able to conceal their actions. It is advisable to buy and hold, as it is a straightforward strategy. A substantial transfer of wealth from pessimists to optimists is imminent.

I have heard through unofficial channels that there are individuals inquiring about purchasing shares, could they possibly be individuals engaging in short selling activities?

The presentation has been scheduled for 3:00 PM today.

It is fortunate that the authorities are closely monitoring all things related to AB with great vigilance, moneyman

Mikey, the number of shares traded has exceeded those in circulation following the takeover rumors. A substantial short position exists and there are allegations of corruption within AIM. It is anticipated by some that these issues will be resolved before the end of the year, leading to AB trading at its true value, unless it is acquired by another company at a significant premium prior to that.

At today's International Investment Summit, Keir_Starmer

secured a record-breaking £63 billion investment for Britain - more than double the amount secured by the Tories last year.

Across Britain, this will turbocharge growth, drive innovation, and make people better off.

Buys 78,067

Sells 16

We finished flat

Stuart Last comments - Q1 2024

“an attractive proposition for major media or technology businesses looking to fast-track a leadership position in podcasting”

“We are confident that will lead to M&A activity reigniting during the next 12 months.”

Stuart Last

Audioboom has had an excellent summer, and it was important to update the market this morning with some key highlights;

1. August monthly revenue of $6m was up 35% yoy. Our rebound from the ad market recessions continues at pace

2. Showcase - our global advertising marketplace - played a key role in that growth. It delivered record $2.5m revenue in Aug - up 143% yoy.

Our strategy to launch a sales unit focused on bluechip brand advertising is working with $$$ flowing into Showcase

3. Showcase is also our highest margin revenue line - driving adjusted EBITDA for Aug to $0.3m… our highest since pre-ad market recession in 2022.

We will focus on growing our higher margin areas… quality revenue over pure quantity.

4. The Audioboom Creator Network is expanding again with 104m downloads in Aug… up from 95m per month in Q2.

The Apple iOS17 update severely impacted downloads across the industry and destroyed inventory levels. We’re back growing

This is fantastic progress, but I’m most excited about September and Q4.

Return of the NFL and EPL, holiday season, and the US election will drive performance even further

The RNS of 16 Feb suggests that the Company is already building on the Q4 revenue figure of $19.2m. Furthermore, the Company has become much leaner over the past 12 months (headcount reduced), and has reduced minimum guarantee obligations for its podcast creators (will be over $2.5m throughout 2024).

Beating market forecasts is the way to go.

@Audioboom

's management is acutely aware of this, following that remarkable share price run over 2 years that began in H2 2020.

Over the past 4-5 months, the Company has been trading at the steepest discount it ever has, relative to its own revenues. If it were tracking its own historic valuation, it should be at over 700p right now. In contrast, the Company is now arguably in its strongest ever position. Its topline is growing rapidly once more - outstripping the growth of the wider podcasting industry, in fact; and is likely to move into healthy profitability this year. Management is openly signposting that 2024 will be a record year.

Forecast upgrades will come, and will drive BOOM's share price much higher over the next 12 months, I believe.

Management indicated a potential M&A activity within the next 12 months in January 24, when management publicly announced the for sale sign. It would not be unexpected if there is no US listing, as the expectation is for a M&A transaction instead.

DYOR. Ignore the agenda driven trolls

Work on #AUDIOBOOM #BOOM's valuation.

M&A in the podcasting space tends to be based on enterprise value/sales ratio (or price-to-sales ratio, which is the same except that it does not account for cash or debt on the balance sheet).

Transactions in the space over the past five years for which there is publicly available financial data include:

- iHeartMedia acquiring Triton Media for an enterprise value of $228m (an EV/Sales ratio of 5.0x)

- Amazon acquiring Wondery for an enterprise value of $300m (an EV/Sales ratio of 7.5x)

- Sirius XM acquiring Stitcher for an enterprise value of $325m (an EV/Sales ratio of 4.5x)

- Spotify acquiring Gimlet Media for an enterprise value of $230m (an EV/Sales ratio of 10.2x)

That's a mean EV/Sales ratio of 6.8x.

In the graph below, I have charted Audioboom's quarterly revenues over the past 5 years / 20 quarters from Q1 2019 to Q4 2023 (y-axis, left side) against the average weighted market capitalization for each quarter (y-axis, right side).

I have used a PSR over EV/Sales as BOOM did not have any significant debt in the period, nor did it ever have surplus cash (in fact, it relied on cash injections from equity raises until 2020). Accordingly, PSR in BOOM's case is an adequate proxy for EV/Sales, when comparing against the aforementioned M&A activity.

On average, across the 5-year period, BOOM has traded on a current year PSR of 1.85x (and a median PSR of 1.55x).

The combination of the share price collapse throughout last year (which bottomed in early November), coupled with the return to strong topline growth in Q4, means that the stock is now trading at a 62% discount to where it has traded over the past five years, on a PSR basis. Or to put it another way, just to be trading in line with where it has (relative to its revenues) over the pat five years, BOOM should currently be priced at 717p.

Now consider the known M&A valuations of the past five years. A mean EV/Sales ratio of 6.8x - versus BOOM's currently at 0.68x.

Based purely on previous M&A activity and using the peer group average, BOOM's "premium takeover" valuation would be 10x / 900% higher than it is: 2,500p.

The challenge is to understand why the share price collapsed over the past two years, and if the collapse was too extreme / unwarranted. My own view is that a temporary topline contraction in 2023 - caused by both the loss of a key podcast (Morbid) in 2022, and by a major downturn in the global advertising market between Q3 2022 and Q3 2023 - caused major uncertainty and yes, did drive an unwarranted sell off.

The next challenge is to understand what could catalyze a major (and sustained) share price rerating again. For me, this is very simple: continued topline growth (following the excellent Q4 2023), and a return to healthy profitability, which leads to forecast upgrades.

Https://x.com/stuartlast/status/1815698171726578068

@Audioboom

published its H1 2024 results:

- $34.1 million of revenue (up 7%)

- $0.3 million of EBITDA

The 3rd successive period of y-o-y revenue growth and ebitda profit shows how well the business has battled back from the advertising market recession of 2022-23

But a second external challenge limited our revenue growth… I estimate that we would have delivered an additional $9 million of revenue but for the Apple iOS17 update that changed how podcasts are downloaded by users

After this double-whammy, Audioboom is in its best ever shape. We now generate more than $60 for every 1000 downloads on the network.

As the network grows following the Apple iOS rebasing, we will maximize the value for our creators.

How?

Showcase, our ad-tech driven marketplace, is expanding fast. More than $2m generated in June and pricing in Showcase is up by 40% this year.

It’s not just about pure volume, it’s becoming premium.

Our newly-launched brand awareness team has great traction with multiple ad campaigns running. While our brand count KPI has plateaued around 8k this is because smaller, less valuable brands are priced out and bigger, more robust bluechip brands are in.

Quality over quantity

Multiple new podcasts announced for the Audioboom Creator Network, and we moved up the

@TritonDigital

podcast ranker last week. We’re the biggest independent Podcast Publisher globally and outpacing competitors

$65 million booked for 2024 - so all growth from this point. With the US sports season and US elections ahead of us the rest of the year is shaping up well

"I remain extremely optimistic about our future, and believe that the Company continues to be significantly undervalued. As such the Board are actively working to understand the benefits and requirements of listing Audioboom in the US..."

H2

Our revenue growth for H1 is in line with the Interactive Advertising Bureau's Podcast Revenue Study forecasts for the industry, and we do expect our growth rate to substantially improve across the second half of the year. We have more than US$65 million of advertising bookings in place - the same level as the entirety of last year's revenue - which means, with more than 5 months of the year remaining, all future bookings will translate directly to growth.

Stuart Last

"I remain extremely optimistic about our future, and believe that the Company continues to be significantly undervalued. As such the Board are actively working to understand the benefits and requirements of listing Audioboom in the US..."