Audioboom Group Plc (BOOM.L), an audio and podcasting distribution platform, on Wednesday reported significantly higher adjusted EBITDA, a key earnings metric, in its first quarter with growth in revenues. Looking ahead, the company added that it is confident to at least meet its revenue and adjusted EBITDA profit goals for 2025.
AudioBoom shares were losing around 8 percent to trade at 400 pence in the morning trading on the London Stock Exchange.
In its first-quarter trading update, the company reported that adjusted EBITDA profit was $0.7 million, up 10X on last year's $0.07 million.
Revenue was $17.3 million, a growth of 1 percent from $17.1 million in the prior year.
With first quarter historically the seasonal low point for revenue and EBITDA profit, the company expects revenue growth to accelerate in future quarters alongside further gearing of adjusted EBITDA profit.
The company said it has made significant progress in the full-year outlook with contracted revenue of more than $63 million for the year through advanced advertising bookings.
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