Audioboom eyes record year as profits boosted by AI and quality push
The group, which counts property tycoon Nick Candy among its top investors, has been dropping underperforming podcasts from its platform as part of a renewed focus on quality to boost its attractiveness to advertisers.
The AIM-listed firm told shareholders on Tuesday that gross profits surged 35 per cent year-on-year to $4million in the three months to 30 June as revenues ticked 5 per cent on the previous quarter to $17.8million.
Adjusted earnings before nasties were up 400 per cent at $1.2million as gross margins expanded from 18 to 23 per cent on the same time last year, thanks to 'the continued strong performance of the business model', Audioboom said.
Audioboom has also been focusing efforts on its high-margin Showcase advertising platform, while reaching partnership agreements with tech groups like Sounder to use artificial intelligence to identify appropriate advertising opportunities.
The group said on Tuesday it had entered new partnership with Gumball FM to bring 'adaptive ads' - a scalable AI-driven advertising product - to Showcase, thereby 'expanding monetisation options for creators utilising our global advertising marketplace'.
It has also expanded its Audioboom Creator Network with new content partnerships, including the podcasts Something Was Wrong, Undisclosed, Al Franken, What They Don't Tell You and On the Case with Paula Zahn.
'These shows are expected to contribute more than four million downloads and YouTube views per month to the Audioboom Creator Network,' the group said.
Boss Stuart Last added: 'The second half of 2025 is primed for further growth as new podcasts join Audioboom, knowing we are leaders in delivering maximum value for their work.
'The advertising market remains stable despite global economic uncertainties, and with our highest demand season on the horizon I am excited about delivering Audioboom's strongest ever year.'
The group has in excess of $70 million revenue for 2025 booked, up $5million since the April and $5million more than at the same point last year.
Audioboom shares were up 8.4 per cent to 355p, taking one-year gains to more than 45 per cent.
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