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Audioboom Group PLC on Wednesday said it has not received any bid proposals as it unveiled record third quarter earnings and revenue. Earlier in October, the London-based podcast producer said that it had commenced a strategic review and, as a consequence, was now in an offer period. Audioboom was responding to reports which said the company was working with advisers to explore terms of a potential takeover of the company. On Wednesday, Audioboom said it was considering a broad range of possible outcomes to the review but has not received any proposal for the sale of the company. ‘With good momentum and record performance ahead in Q4, the timing is right to assess future opportunities to maximise the company’s value,’ Chief Executive Stewart Last said. Shares in the London-based podcast producer fell 3.4% to 598.70 pence each in London on Wednesday. In a trading update, Audioboom reported a record third quarter performance in several ‘key’ financial metrics. These included 18% growth in adjusted earnings before interest to $1.2 million in the three months to September from $1.0 million the year prior. Revenue increased to 8.5% to $20.4 million from $18.8 million and gross profit 12% to $4.3 million from $3.8 million. Third quarter average monthly distribution of 135 million downloads and video views, was up 40% on-year, following the acquisition of Adelicious in July and the ‘fast-paced’ growth of Audioboom’s video podcasts. Average revenue per 1,000 downloads of $51.92 was, ‘as expected’ lower than the $66.06 a year ago, due to the increase in lower-yield UK downloads from the Adelicious acquisition. This represents significant upside opportunity through medium-term value creation in the UK podcast market, Audioboom added. Third quarter average total brand advertiser count of 10,058, was up 22% on-year from 8,257. Group cash at September 30 of $2.9 million compared to $2.5 million at June 30, with a further $3.4 million available via an overdraft facility. CEO Last expects the fourth quarter to be ‘our best quarter ever.’ ‘With more than $79.0 million of advertising revenue already booked for 2025, we are set to end the year strongly with our expanded network in high demand from advertisers,’ he added. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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