Acast Net Sales Rise In Second Quarter 2023

Q2 Up

ACAST net sales grew 22% year-over-year to SEK 386.3 million, with EBITDA loss narrowing to SEK -41.7 million and an operating loss of SEK -59.3 million, for second quarter 2023. The number of listens increased 4% to 1.294 billionand Average Revenue Per Listen (ARPL) reached SEK 0.30 (0.26).

CEO ROSS ADAMS said, "The second quarter of the year has been marked by a continued improvement of our margins and our results, driven by prudent cost control and positive revenue development especially in NORTH AMERICA. Our work to build the world’s most valuable podcasting marketplace - connecting podcast creators, advertisers and listeners continues evidenced by a number of product improvements and launches in the quarter, that strengthen both us and our stakeholders in the long term."

ADAMS added, "Net sales in EUROPE amounted to SEK 235.1 million (201.3), an increase of 17 percent. During the quarter, our total growth was driven primarily by a positive development in NORTH AMERICA, where we grew by 31 percent to SEK 110.7 million (84.5). We also see a good development in Other Markets with a growth of 35 percent. During the quarter, we noted some early indications of a certain improvement in the American advertising resultsmarket, including through the US Ad Market Tracker index, which is now increasing for the first time in a year. In the current macroeconomic climate, however, uncertainty remains regarding a possible market recovery."

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