Audioboom has reported Q3 revenue and adjusted EBITDA of $16.2m and $0.6m, record net cash of $8.0m, and we reiterate our FY22 and FY23 forecasts. As highlighted by management at Q2 results in July, the macro environment weighed on Q3 advertiser spend, but the platform saw its low-point in July and has seen momentum build through August and September. Management expects growth to continue into the seasonally strongest Q4, and with over $73m of revenue contracted (88% of FY22E revenue) vs $55m at ....
17 Oct 2022
Audioboom Group - Momentum building into Q4, record net cash
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Audioboom Group - Momentum building into Q4, record net cash
Audioboom Group PLC (BOOM:LON) | 260 13 2.0% | Mkt Cap: 42.6m
- Published:
17 Oct 2022 -
Author:
Michael Hill -
Pages:
8
Audioboom has reported Q3 revenue and adjusted EBITDA of $16.2m and $0.6m, record net cash of $8.0m, and we reiterate our FY22 and FY23 forecasts. As highlighted by management at Q2 results in July, the macro environment weighed on Q3 advertiser spend, but the platform saw its low-point in July and has seen momentum build through August and September. Management expects growth to continue into the seasonally strongest Q4, and with over $73m of revenue contracted (88% of FY22E revenue) vs $55m at ....