Acast Fourth Quarter Revenues Nearly Double

Q4 Results

ACAST fourth quarter 2020 operating revenues jumped 95% year-to-year to 240 million SEK (Swedish Kronor) ($29 million USD), with gross profit up 113% to 93 million SEK ($11.2 million) and operating loss narrowing 71% to -13 million SEK (-$1.6 million).

The company grew its listener base from 800 million in third quarter to 860 million in fourth quarter. Full year listens grew from 1.9 billion to 3 billion.

CEO ROSS ADAMS said, "In 2020, ACAST delivered its best year to date. Together with podcast creators, advertisers and listeners we managed to demonstrate the strength of the podcast medium. Listeners continued to steadily increase throughout the year. ACAST has reached over 60 million monthly active users and is now hosting over 20,000 shows globally. Advertisers continued to acknowledge the value in reaching an engaged audience which contributed to grow our operating revenues year-over-year 64% to 592 MSEK and the gross profit with 70% to 219 MSEK. We ended the year in a strong fashion by accelerating our revenue growth in Q4 to 95% year-over-year reaching 240MSEK (123MSEK). I would like to thank all my colleagues and our business partners for their fantastic efforts, together we delivered another year of high growth. I am confident that we remain well-positioned to pursue our ambition to become the global leader in the audio-on-demand market."

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