RE: Time to get in28 Jan 2025 11:44
Update from Cavendish thy have a target os 1300p.....
Audioboom Group (BOOM): CORP
Strengthening in the UK, forecasts reiterated
Audioboom has announced 1 renewed and 2 new UK podcast partnerships, alongside the hiring of a key UK-focused sales executive, to drive growth in the UK from currently less than 5% of group revenue. Multi-award-winning comedy podcast No Such Thing As A Fish has expanded its long-standing partnership with Audioboom through a multi-year extension, where Audioboom’s differentiated AdRip solution and the Showcase platform, can continue to monetise over 550 episodes since the podcast’s debut in 2014. Hat Trick Productions, which is the company behind Have I Got News For You, has then entered a new content partnership that will bring its growing slate of critically acclaimed podcasts to the Audioboom platform, and football podcast Filthy @ Five brings over 5m YouTube views in 2024, which will see Audioboom further develop its monetisation products for video podcasting. We expect the new & renewed partnerships and expanded salesforce will drive strong UK revenue growth in the coming years, and after four successive upgrades to FY24E and FY25E adjusted EBITDA from $1.3m and $2.0m to $3.4m and $4.5m over October, November, December, and January, we reiterate our FY25E forecasts at this point. As management continues to focus on scaling the platform, EBITDA, and cash, we expect Audioboom will be excellently positioned to achieve new financial records, and we look forward to Audioboom capitalising on its robust momentum at updates through FY25, further renewals and wins of key podcasts on attractive terms, and potential external interest in the platform."