ZOO has announced that it is now operating as a key vendor for a major Hollywood studio to support its content localisation rollout. The major content producer is already a client and will now use ZOOstudio to manage the localisation of content across its vendors (similar to ZOOs largest customer). While the customer is not named, ZOO highlight that a significant number of revenue-generating projects for this client are already underway underpinning our unchanged forecasts. ZOO has grown revenues at an impressive 47% CAGR in the 3 years to FY23 but trades on just 10x FY24 EV/EBITDA - too low for a business growing this fast.
