Flash August Trading Update

Ahead of the full third quarter trading update scheduled for 15 October 2024, Audioboom (AIM: BOOM), the leading global podcast company, is pleased to provide this flash view of the Group's excellent performance in August 2024, with monthly revenue expected to continue to grow in the remaining months of the year. August 2024 highlights included:

• Revenue of US$6.0 million, up 35% on August 2023 (US$4.4 million). This followed on from July 2024 where revenue was up 17% on July 2023
• Adjusted EBITDA profit of US$0.3 million, up $0.4m on August 2023 (adjusted EBITDA loss of US$0.1 million) and the highest monthly adjusted EBITDA profit since November 2022
• Record monthly revenue from Showcase, our global advertising marketplace, of US$2.5 million, up 143% on August 2023 (US$1.0 million)
• Global downloads of 103 million - up from the Q2 2024 monthly average of 95 million, highlighting the return to growth of the Audioboom Creator Network following Apple's iOS17 update in late 2023 which impacted the measurement of downloads across the industry

Stuart Last, CEO of Audioboom, commented: "Audioboom continues to deliver positive results in 2024 with momentum building as we enter our strongest period of the year. Revenue growth of 35% in August 2024 (over August 2023) is incredibly pleasing and is driven by record performance by Showcase - our scalable, tech-based advertising marketplace. Showcase delivered US$2.5 million of revenue last month - 143% growth versus the same period in 2023.

Showcase is also our highest margin revenue line, and as a result of the Showcase growth we delivered our highest monthly adjusted EBITDA profit in almost two years of US$0.3m.

Across 2024 our download and advertising inventory levels have been impacted by Apple's iOS17 update. I'm very pleased that in August our podcasts were downloaded more than 103 million times, growing significantly from our Q2 2024 average of 95 million. The Audioboom Creator Network is expanding once more.

Q4 is always our highest demand period due to the return of the NFL and the English Premier League, as well as the US holiday season, and this year it will be further boosted by the US election. I am extremely optimistic about Audioboom's future, and I look forward to providing an update on trading for the third quarter on 15 October 2024."