StockMarketWire.com - Podcast company Audioboom swung to a maiden adjusted EBITDA profit in the first quarter on record revenue, and said it was on track to deliver annual revenue well ahead of market expectations.

For the quarter ended 31 March 2021, adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, was US$0.03 million, compared with a US$0.5 million loss last year, as revenue jumped 49% to $9.5 million.

'Our record performance is driven by our content focused expansion strategy,' the company said.

'New content partnerships and successful Audioboom Originals Network launches delivered strong growth in our global downloads key performance indicator, with more than 90 million downloads in March,' it added.

Looking ahead, the Audioboom said the positive momentum has continued into the second quarter with the company signing advertising bookings representing more than 90% of the existing market forecast for 2021 group revenue.







At 8:27am: [LON:BOOM] Audioboom Group share price was 0p at 200p



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