Slide 1: Interim Report Jan - Sep 2025
Jan - Sep 2025 Interim Report
Slide 2: In the Room
In the Room Greg Glenday Emily Villatte CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER AND DEPUTY CEO
Slide 3: Uniquely positioned at the center of the podcasting value chain
More than 140,000 shows More than 1BN listens/quarter Creator payouts $500M MONETIZE CONSUME More than USD EVERYWHERE 115m uniques/month GROW YOUR ACCESS HIGH AUDIENCE QUALITY CONTENT REACH YOUR SUPPORT YOUR Uniquely positioned LISTENERS FAVORITE PODCAST at the center of the podcasting value chain E
Slide 4: Full spectrum of creators
Full spectrum of creators Big Shows and Publishers, Niche Shows, Massive Impact Engaged Audiences at scale
Slide 5: CEO Update
1 CEO Update
Slide 6: Financial highlights Q3 2025
Financial highlights Q3 2025 35% 6% Net sales growth Adj. EBITDA margin 41% 2% Organic growth EBIT margin Strong profitable growth 6
Slide 7: Updated financial targets
Updated financial targets Previous Updated 2025-2028 2025-2028 Organic net sales Revenue 15% growth (CAGR) >15% Organic net sales growth (CAGR) Acast targets an organic net sales growth (CAGR) exceeding 15% in the period 2025 to 2028. 2025 2028 Profitability 3-5% Adj. EBITDA margin 10% EBIT margin Cas
Slide 8: How do we get there?
How do we get there? 8
Slide 9: Uniquely positioned for growth
Uniquely positioned for growth ● Undermonetized media: We operate in a large, growing market UK where ad spend must increase by 4.5x to match the share of 60-65% consumption. Market Share ● Proven track record: Acast has grown sales at a CAGR of 56% in 2017-24 vs. 33% market CAGR. Sweden ● Leveragin
Slide 10: Contribution margin
Larger volumes and low-touch sales drive continued local profitability gains Contribution margin per key market 35% We benefit from buyers Sweden increasingly transacting 25% UK larger volumes and accessing low-touch 15% channels, driving our Contribution margin US scalability. 5% We are targeting con
Slide 11: Driving the group's contribution profit
Driving the group’s contribution profit Contribution margin (ex IAC) per segment Sustained strong performance across all segments enables continued expansion of the group contribution margin. 11
Slide 12: Whilst continuing to scale against global costs
Whilst continuing to scale against global costs Global costs ex items affecting comparability (SEKm) We will continue to actively optimize global costs for group-wide shared services, ensuring they remain a decreasing share of growing revenues. 12
Slide 13: Realizing operational leverage to drive EBIT
Realizing operational leverage to drive EBIT Contribution margin, global costs and adj. EBIT margin This operational momentum is expected to deliver sustained EBIT margin expansion as we continue to realize leverage. 13
Slide 14: The path to long-term value generation
The path to long-term value generation Acast is well placed in the large and growing podcasting market where ad spend is catching up with consumption. We are global, have built strong positions in the UK and Nordics, and are growing our reach and scale in the US and Continental Europe. We benefit fro
Slide 15: Business events Q3 2025
Business events Q3 2025 15
Slide 16: Magnite partnership: Expanding programmatic advertising
Magnite partnership: Expanding programmatic advertising ● Attracting global demand ● Improving revenue potential for creators at scale ● Enables unified campaign planning ● Capitalizing on omnichannel trends 16
Slide 17: Self-serve & Smart recommendations
Self-serve & Smart recommendations DEMO LINK 17
Slide 18: Financials
2 Financials
Slide 19: Listens returning to growth
Listens returning to growth Listens (m) Quarterly Listens and Average Revenue Per Listen ● Listens growth rebounded, rising 1% Y/Y. ● Persistent, strong ARPL momentum leading up to SEK 0.58 in Q3 25. ● Average Revenue Per Listen expanded by 33% Y/Y. Note: Number of listens based on Acast´s IAB 2.0 c
Slide 20: Strong growth powered through Q3
Strong growth powered through Q3 Net Sales (SEKm) Quarterly Net Sales (SEKm) +35% ● Organic growth was 41%, adjusted for currency effects and revenue ● Strong growth momentum has extended into Q3. contributions from Wonder Media Network. 20
Slide 21: Maintained solid gross margin
Maintained solid gross margin Gross Profit (SEKm) Quarterly Gross Profit (SEKm) Ex- reval 39% ● Gross profit increased by 31% Y/Y. ● Steady gross margin. ● There was no material changes to product mix or yield affecting the gross margin development. 21
Slide 22: North America and Europe fuelling growth
North America and Europe fuelling growth Europe North America Other Markets Net Sales (SEKm) Net Sales (SEKm) Net Sales (SEKm) +27% (32% Organic) +58% (64% Organic) +4% (11% Organic) Contribution Profit (1) (SEKm) Contribution Profit(1) (SEKm) Contribution Profit(1) (SEKm) (1) Contribution Profit refers
Slide 23: Sustained profitability uplift
Sustained profitability uplift Quarterly Adj. EBITDA (SEKm) Adj. EBITDA LTM* (SEKm) ● EBITDA margin of 6%, reflecting an improvement of 3%-p Y/Y. ● The upward trend in underlying profitability has continued. ● EBIT margin amounted to 2%. *Last Twelve Months 23
Slide 24: Operating cash flow gains
Operating cash flow gains Cash flow from operating activities (SEKm) Cash flow from operating activities LTM* (SEKm) ● Operating cash flow was SEK 20m, reduced by SEK 6m due to working ● Cash position of SEK 548m per 30 September, 2025. capital shifts. *Last Twelve Months 24
Slide 25: Wrap-Up
3 Wrap-Up
Slide 26: Key takeaways
Key takeaways North America remains Updated financial targets: Maintained strong the primary engine of Continued profitability ● Organic sales CAGR growth momentum with 41% growth, also supported improvements with exceeding 15% in 2025-28 organic growth by solid European EBITDA margin of 6% ● EBIT mar
Slide 27: Q&A
4 Q&A
Slide 28: Year-end report
Feb Year-end report 11 For January 1 - December 31, 2025
Slide 29: For The Stories.
For The Stories.