Audioboom’s FY24 trading update shows FY24E adjusted EBITDA a further +10% ahead of our previous upgrade, net cash +5% ahead, and a confident outlook that leads us to upgrade FY25E adjusted EBITDA and net cash by +12% and +7%. Record 4Q brand advertiser count of 9,497 or +13% yoy, record 4Q RPM / e-CPM of $75.62 or +29% yoy, and record FY24E Showcase revenue of $23.1m or +56% yoy, have driven FY24E revenue and gross profit +1% and +2% ahead of our previous forecasts. Continued firm control of op ....
