Acast Sales Up Worldwide, Down In North America For First Quarter 2023

Q1 Results

ACAST's interim report for first quarter 2023 shows net sales growing 11% year-over-year to SEK 331.3 million, and revenue in NORTH AMERICA slipping 1% to SEK 83 million, with EBITDA loss narrowing slightly to SEK -60.7 million and operating loss also narrowing to SEK -78.0 million (-40 cents/basic and diluted share). The number of listens increased 2% to 1.283 billion and Average Revenue Per Listen (ARPL) increased from SEK 0.24 to SEK 0.26.

CEO ROSS ADAMS noted continued growth, adding, "We see that interest in podcasts, as a highly valued channel for entertainment, learning and information, continues to increase among both listeners and advertisers worldwide." He termed the company's revenue growth "a stable development in light of an underlying advertising market that has weakened significantly compared to a year ago." He said that programmatic ad sales were trending positive and added, "Our work to reach the goal of a positive EBITDA result in 2024 is ongoing and the development at the beginning of the year indicates that we are on the right track."

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