Audioboom has increased its expected EBITDA profit by $300,000 (£235,000) to $3.1m (£2.43m) for the full financial year, after continuing its "strong momentum" throughout Q4.

The figures come ahead of the firm’s performance update in January 2025.

The podcasting company, which sees its shows downloaded 100 million times each month by 38 million customers, said the performance was driven by "excellent" KPI growth delivery in November 2024.

In this time, Audioboom said it had continued "strong revenue growth" from its tech-based advertising marketplace, Showcase, which was up 53% year-on-year, while reaching its record monthly brand advertiser count of 10,165.

The firm said the podcast industry has "evolved materially" over the past year, largely driven by Apple’s iOS17 update in late 2023, which impacted its potential revenue by around $15m (£11.75m) across 2024.

As a result, Audioboom said it had focused on growing Showcase and now expects revenue to grow to at least $73m (£57.2m).

Looking ahead, it anticipates its 2025 revenue will be "at least in line" with the forecast industry of 10%, but Audioboom’s higher quality revenue is expected to generate "significantly higher" adjusted EBITDA profit in 2025.

Chief executive officer at Audioboom, Stuart Last, said: "I am very pleased to see a third upgrade to our expectations this year, with Audioboom set to deliver at least $3.1m (£2.43m) of adjusted EBITDA profit. Our platform is delivering higher-quality revenue and extracting more value than ever before, and I look forward to updating you further on our performance this year in January 2025."

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