Acast Preliminary First Quarter 2021 Report Shows 74% Sales Growth

Preliminary Q1 Numbers

ACAST has released an interim financial report for first quarter 2021 showing net sales growth of 74% year-over-year but a net loss widening from SEK 45.1 million to SEK 49.2 million. Net sales rose from SEK 113.2 million to SEK 197.4 million.

CEO ROSS ADAMS wrote that the company "began the first quarter of 2021 in a good way, with strong revenue growth and new products being launched to empower our creators. Compared to the first quarter 2020, our revenues grew by a stunning 74%, proving that we are on the right path with our unique infrastructure platform and that we are driven by the unstoppable shift from traditional radio towards podcasts."

ADAMS cited several high-profile signings worldwide, including the AUDIBLE original "WEST CORK" and the NEW YORK POST, the beta launch of the ACAST+ subscription platform in MARCH, and the acquisition of RADIOPUBLIC as examples of the company's development and noted the MARCH announcement that the company is considering its financial options, including a possible IPO, and added, "Having successfully navigated the pandemic that crippled so many other industries during 2020, and after registering yet another record-breaking year for ACAST globally, our first-quarter results show a strong start of 2021."

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