Slides
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Investor Update October 2026 AUDIOBOOM.COM
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Q3 26 Performance 1 GROSS PROFIT Adj EBITDAGROSS REVENUE $23.8 MILLION Up 17% vs Q3 25 $5.6 MILLION Up 30% vs Q3 25 $2.2 MILLION Up 89% vs Q3 25 REVENUE QUALITY - SHOWCASE - PODCASTER CONTRACTS CONSISTENT OPEX - ADELICIOUS INTEGRATION - PLATFORM MODEL GROSS MARGIN 23% (Q3 25: 21%) Adj EBITDA MARGIN 9% (Q3 25: 6%)
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YTD Performance 2 GROSS REVENUE GROSS PROFIT Adj EBITDA $69.5 MILLION Up 25% vs YTD 25 $15.5 MILLION Up 32% vs YTD 25 $5.5 MILLION Up 84% vs YTD 25 LTM Performance GROSS REVENUE GROSS PROFIT Adj EBITDA $94.4 MILLION $20.8 MILLION $7.6 MILLION
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Performance Drivers 95 100 130 150 170 183 190 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Adelicious acquisition Q1 creator signings 47% Distribution Growth vs Q3 25 Driven by Adelicious acquisition, fast growth of video podcasting, and creator signings GLOBAL DISTRIBUTION - monthly (M) Strong distribution and inventory growth fuels the Audioboom monetisation engine. The continued growth of Showcase drives gross margin and profitability Premium, 53% Premium, 50% Sonic, 12% Sonic, 9% Showcase, 35% Showcase, 41% YTD 25 YTD 26 Audioboom Revenue Contribution 20% Showcase revenue growth vs Q3 25 Higher gross margin of Showcase helps improve Q3 gross margin by 10% and EBITDA margin by 66%
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Revenue and Gross Margin 17.117.0 18.8 20.5 17.3 17.8 20.4 24.9 22.5 23.223.8 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Revenue ($M) 4 2.7 3.0 3.8 4.8 3.4 4.0 4.3 5.3 4.8 5.1 5.6 16% 18% 20% 24% 20% 23% 21% 21% 21% 22% 23% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 2 4 6 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Gross Profit ($M) Gross Margin (%) • $3.4m / 17% revenue growth vs Q3 25 • Q3 26 2nd highest revenue quarter • Revenue is seasonal; weighted towards H2 • $1.3m / 30% increase in Gross Profit recognised • Gross margin increased to 23%, with further future gross margin expansion expected to gear to adj EBITDA
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Opex and Adjusted EBITDA 2.7 2.8 2.8 2.8 2.8 2.9 3.1 3.1 3.4 3.3 3.3 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 OPEX ($M) 5 0.1 0.2 1.0 2.1 0.6 1.2 1.2 2.2 1.4 1.8 2.2 0 2 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 ADJ EBITDA ($M) • Focused higher quality revenue growth + controlled MG’s = increasing gross profit + well controlled opex = adj EBITDA growth • Q3 average opex of c$1.1m a month represents tightly controlled opex. Q3 year on year costs up $0.2m, with tech costs $0.1m higher due to increased downloads and ad impressions, and salary and commission costs $0.1m higher due to higher revenue recognised. Other business costs flat year on year • Headcount reduced from 52 in Sept-26 to 42 in Sept-26 • High operational gearing: $3.5 million year-on-year increase in Q3 revenue delivered a $1.0 million increase in adjusted EBITDA, an incremental margin in excess of 25%
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Cash and Debtors 3.1 3.5 3.3 3.9 4.3 2.5 2.9 4.2 5.5 5.4 6.7 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Cash ($M) 6 • Efficiency in working capital cycle continues; • $64.2m collected to end of Q3 26, 92% of revenue booked vs 96% 5-year average • Debtor days: 79. Lower than prior periods with the expectation that this increases to historic levels over the seasonally stronger Q4 • Q3 YTD 26 bad debt expense $23k, as expected, continues to be minimal vs revenue recognised • Increase in revenue = increasing payments to partners, therefore, efficient cash collection process is essential 91 52 46 23 81 82 89 79 2023 2024 2025 Q3 YTD 26 Bad Debt Expense ($000) Debtor Days
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Outlook Q4 2026 Audioboom’s platform business can lead the consolidation of the fragmented independent podcast sector Adelicious acquisition a strong proof-of-concept Targeting 3-4 meaningful transactions US Midterm Elections driving strong H2 performance 2027 Focus on developing our M&A driven growth strategy Audioboom is THE leading network for independent news and political podcasting 0.25 billion monthly ad impressions in politics and news 2030 GOAL +$200m REVENUE +$40m EBITDA
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Stuart Last Chief Executive Officer Brad Clarke Chief Financial Officer