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Audioboom ( (GB:BOOM) ) has issued an update.
Audioboom has announced a significant adjustment in its financial performance expectations, with adjusted EBITDA profit forecasted to be at least $3.1 million, surpassing prior market expectations. This growth is attributed to strong KPI improvements, particularly in its Showcase advertising marketplace, which saw a 53% revenue increase and a 38% rise in eCPM. Despite challenges from Apple’s iOS17 update affecting revenue potential, Audioboom’s focus on high-margin products has led to a projected revenue of at least $73 million for the year, with expectations of continued growth into 2025, aligning with industry forecasts.
More about Audioboom
Audioboom is a global leader in podcasting, providing commercial, distribution, marketing, and production services for a premium network of top-tier podcasts. It operates internationally with key partnerships and distributes content through various platforms like Apple Podcasts, Spotify, and YouTube. The company is ranked as the fifth largest podcast publisher in the US by Triton Digital.
YTD Price Performance: 6.78%
Average Trading Volume: 82,933
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £52.9M
See more data about BOOM stock on TipRanks’ Stock Analysis page.
