StockMarketWire.com - Podcast company Audioboom narrowed annual losses amid 'significant' growth in the final three months of the last year.

For the 13 months ended December, revenue rose 92% to US$11.7m from a year earlier with 'significant growth' seen in the final three months of the period, the company said.

The company reported an adjusted earnings (EBITDA) loss of US$5.2m compared with a loss of $5.7m a year earlier.

'2018 posed exceptional challenges for the business, so it is hugely satisfying that our revenues have almost doubled. Even more significant is the cash flow break even performance in the final three months of the period, achieved through higher revenues, continued cost control and improved financial processes,' the company said.

'During 2018, Audioboom consolidated its position as the 'go to' platform for top talent and broadcasters such as Formula 1, Jonathan Ross and Heston Blumenthal, the latter two having launched podcasts with us in late 2018.'

'The exciting results in the final three months of the period, 2019 pre-booked advertising campaigns and content acquisition pipeline are all pointing towards a further significant increase in Company performance in 2019.'


At 9:42am: [LON:BOOM] Audioboom Group share price was +0.25p at 1.3p



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