Business
Half Year Report
Half Year Report.
About this update from Audioboom Group Plc
[{"type":"text","content":"\n\n \n19 July 2023\n \nThis announcement contains inside information as stipulated under the UK Market Abuse Regulations (\"MAR\")\n \nAudioboom Group plc\n(\"Audioboom\", the \"Group\" or the \"Company\")\n \nHalf-Year Report\n \nAudioboom (AIM: BOOM), the leading global podcast company, announces its unaudited half-year results for the six months ended 30 June 2023.\n \nFinancial and operational KPIs\n· H1 revenue of US$31.8 million (H1 2022: US$40.9 million), predominantly reflecting the loss of the Morbid podcast which left the network in May 2022\n· Q2 revenue of US$16.4 million, up 6.5% on Q1 2023 (US$15.4 million)\n· Total H1 adjusted opex(1) of US$5.5 million, down 11% on H1 2022 (US$6.2 million), demonstrating strong cost control\n· Adjusted EBITDA(2) profit of US$0.3 million (H1 2022: US$2.0 million)\n· Group cash at 30 June 2023 of US$5.3 million (31 March 2023: US$5.1 million), with a further US$1.9 million available via an undrawn overdraft. A further US$2.7 million has been collected in July\n· Average Q2 global monthly downloads of 125.9 million, up 1% on prior quarter (Q1 2023: 125.2 million). Global monthly downloads in May 2023 reached a record 135.2 million\n· Average Q2 brand advertiser count of 8,042, up 24% (Q1 2023: 6,498). The brand advertiser count reached a record 8,786 in June 2023\n· Average Q2 global revenue per 1,000 downloads (eCPM) of US$43.55, up 6% (Q1 2023: US$41.00)\n· Record total advertising impressions made available to buyers in H1 2023 of 5.1 billion, up 25% on prior year (H1 2022: 4.1 billion), including 3.4 billion via the Showcase marketplace (H1 2022: 2.1 billion)\n· So as to better reflect the underlying performance of the business, the Company reports an exceptional one-off cost in relation to an individual contract which has been deemed to be onerous (US$8.9 million). This includes the H1 contract net loss (US$1.8 million) and the future estimated net loss (US$7.1 million) which has been provided for in full as at 30 June 2023\n· The Board had previously indicated its intention to introduce a progressive dividend policy with a maiden dividend in respect of the current ...