The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Bravo bearhuntr3 for posting this article. AIM is a complete shambles which is dominated by MM and their shorting cohorts. Valuations of many companies are so far from reality. The sooner Nasdaq makes a bid for AIM the better. As highlighted the loss of companies and the lack of appetite for new listings proves that AIM is no longer a creditable market. Spotify at USD 6.3b market cap is the most obvious indicator that media tech stocks should be at a minimum of 2x revenue.
Market cap of Spotify is USD63 billion which is 1.9 times annual revenue. Audioboom on this basis should be minimum valuation of USD9 per share or GBP7.50.
Q1 2024 financials just released. Shares up 15%. Quote from the statement
“ podcast advertising revenue grew faster than music driven by significant growth in impressions sold across Original and Licensed podcasts, partially offset by softer pricing. “
Very similar to Audiboom comments for Q1 2024.
Management and long term shareholders are in complete agreement with your comments Dessy.
To correct a figure which I put out a couple of days ago concerning the Triton Podcast Ranker for March.
Of more relevance is Weekly Average Users which is what I stated. I did a miscalculation and as picked up by RunnerRunner there was a very slight reduction of 56k ( not an increase) to 5,546,000 in March from 5,602,000 in February. This compares, and that was my point, to a reduction of 400k for Audacy and a reduction of 300k for Wondery. I hope this is now clear.
USA Rankings out for March. Audioboom outperforms its competitors on average weekly users by increasing its numbers whilst others fall. Audioboom maintains 4th position and gets closer to Wondery in 3rd. Staggering achievement.
These are the figures that matter. You can keep the juvenile and misleading comments as they are worth nothing.
Most US media and tech stocks down around 5pc. Main Dow index up.
So obvious that there is a coordinated ring buying and selling within a 250- 320 range. Must be exciting for them to feel the power. Basically not clever at all. They believe they are hotshot traders. Call me old fashioned but I like to invest and see a company grow over the past 10 years into a substantial global business. I haven’t seen a decent return yet but there will be a good end to this. It’s pretty much to the day that Audioboom came to the AIM market in 2014. Maybe should have stayed private a bit longer to show some initial growth rather than as a start up. As usual it was hammered within a year. The current management has taken 4 years to produce a sound footing which was the basis of the current stature of the business at 4th ranked in USA. What an achievement.
Exactly bearhuntr3
15000 at 2.57 traded at 8:20 is just reported. Does that mark up the spread. Of course not
Cavendish restate in their Note a valuation of GBP13 based on 3 times revenue. Of course we know who has just said “ you can forget 6 times”. Misinformation of course. And it was specifically stated by Stuart Last that the companies were small specialised podcasting companies. Audioboom is a multinational which is 4th in USA and has many facets to its business. If only some posters wouldn’t make such obvious errors. That’s you Zak.
Finally on M&A Stuart says some podcast companies are on the market on the sell side. It’s believed that in second half of year this will move to buy side as multinationals will be back on radar.
Undervaluation on AIM is frustrating and something will change if no improvement.
Stuart is completely confident of meeting 2024 EBITDA and revenue forecasts.
State of Advertising market is slightly up but stable. Pricing and demand are stable.
New creator deals. Minimum Guarantee obligations reduced by usd5m. Renewals of partnerships with more favourable profit share for Audioboom
Future Focus of company. Network Growth and acceleration of inventory creation and new shows. Showcase will have more attention with the two new executives hired.
Good explanation by Brad CFO of financials. Plenty of cash and no use of overdraft
Advertising impressions at record levels of 1.1 billion. Counteracts the Apple issue.
E-CPM strong due to increasing predominance of Showcase. Now 23pc.
Average of 30pc reduction in downloads industry wide due to Apple IOS17. Audioboom much more resilient with only 12pc.
Awareness brands, global being more robust are becoming more pronounced than Performance brands. Two new executives will drive this further.