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Audioboom expects to deliver positive EBITDA in 2021
StockMarketWire.com
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Podcast company Audioboom said it expected to be EBITDA positive in 2021 following record quarterly revenue and a 'very strong' start to advertising bookings in the new year.
Audioboom said it expected to report positive earnings before interest, taxes, depreciation and amortisation, or EBITDA, for the year ending 31 December 2021.
The company said it had already signed advertising bookings representing over 50% of the current market forecast for 2021.
The strong start to year comes on the back of record fourth-quarter performance that boosted 2020 results.
Fourth-quarter revenue was approximately US$8.5 million, up 25% year-on-year, and adjusted EBITDA loss was US$0.2 million, a 53% improvement on 2019.
2020 revenue was approximately US$26.8 million, up 20% on 2019, and adjusted EBITDA loss was US$1.8 million, an improvement of 36% on 2019.
'The board continues to be excited about the opportunities for the Audioboom business and is confident that this momentum will continue into 2021,' the company said.
At 8:45am: (LON:BOOM) Audioboom Group share price was 0p at 200p
Story provided by StockMarketWire.com
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