Audioboom shares rise 3% as record quarter lifts 2026 profit outlook

Podcast publisher Audioboom's shares climbed 3% on Wednesday following a record third quarter that boosted its profit outlook for 2026. The company now expects adjusted core profit, or adjusted EBITDA, to be at least $7.7 million for the year ending December 31, surpassing market estimates. In the quarter ending September 30, revenue surged 17% to $23.8 million, up from $20.3 million a year prior.

Gross profit jumped 30% to $5.6 million, while adjusted core profit increased 89% to $2.2 million. Gross margin improved to 23% from 21%, and adjusted core profit margin rose to 9% from 6%. Operating expenses remained steady at around $1.1 million per month, thanks to cost savings from the recent Adelicious integration. Audioboom's Showcase, a global advertising marketplace, saw revenue rise 20% to $9.7 million.

The surge in demand was driven by political advertising spending ahead of the U.S. midterm elections in September. Average monthly downloads and video views climbed 47% to 190 million, fueled by strong growth in video podcasts and new 2026 podcast partnerships. For the nine months to September 30, revenue grew 25% to $69.5 million, gross profit increased 32% to $15.5 million, and adjusted core profit rose 84% to $5.5 million.

The company holds $6.7 million in cash as of September 30, up from $2.9 million a year earlier, and has an additional $3.4 million available through an overdraft and $10 million accessible via a revolving credit facility for acquisitions. CEO Stuart Last stated that Audioboom aims to finalize three to four significant transactions in the medium term.

Recent additions to the company include the Pionaire Network and Brand Safe, while contracts with The Broski Report and Let’s Not Meet were renewed.