Audioboom, the podcast company, has raised its full-year earnings forecast after third-quarter revenue rose 17% to $23.8 million, beating market expectations.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter jumped 89% to $2.2 million, with the full-year figure now expected to reach at least $7.7 million.
Gross profit for the quarter grew 30% to $5.6 million, with gross margin improving to 23% from 21% a year earlier.
The company's Showcase advertising marketplace delivered quarterly revenue of $9.7 million, up 20%, boosted by political advertising ahead of the US midterm elections.
Average monthly downloads and video views hit 190 million in the quarter, up 47% year-on-year, driven by growth in video podcasting and new content partnerships.
Chief executive Stuart Last said: "The powerful dynamics of our platform business model were on full show in Q3 2026. Revenue increased by 17%, driven by our strongest-ever content slate, record distribution and ad inventory.
"In turn, gross profit growth almost doubled that rate, up 30%, reflecting continued improvements to our podcaster revenue shares and a greater contribution from higher margin advertising products.
"Our adjusted EBITDA margin of 9% for the quarter highlights the strong operational gearing inherent in the business.
"Our objective remains to execute three to four meaningful transactions over the medium term."
Cash at 30 September stood at $6.7 million, with a further $13.4 million available through overdraft and revolving credit facilities to support acquisitions.
