Audioboom Reports Revenue Growth For 2018

Financial Results

Podcast producer and platform AUDIOBOOM says that its revenue for the 13 months ending DECEMBER 30th, 2018 rose 92% from the previous 12 month period to $11.7 million, marked by "significant growth" in fourth quarter. The company saw its Adjusted EBITDA loss narrow slightly to $5.2 million, with operating cash flow reaching breakeven for the last three months of 2018. The number of brand advertisers on board rose from 130 in MAY to 160 in DECEMBER.

CEO ROB PROCTOR said, “2018 posed exceptional challenges for the business, so it is hugely satisfying that our revenues almost doubled. Even more significant is the Q4 cash flow break even performance, achieved through higher revenues, continued cost control and improved financial processes ... The exciting Q4 results, 2019 pre-booked advertising campaigns and content acquisition pipe- line are all pointing towards exceptional Company performance in 2019."

A previous version of this story contained AUDIOBOOM's projection of growth in 2019; the company has retracted the statement and the story has been edited to reflect the change.

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