Acast (ACAST) Q4 2024 earnings summary

Executive summary

• Achieved 19% net sales growth for full-year 2024 (18% organic), with North America revenues up 33% and gross margin at 39-40%.

• EBITDA reached 24.3 million SEK for the year (1% margin), meeting profitability targets; Q4 EBITDA margin was 6%.

• Added major podcast creators (TED Audio Collective, Casefile, Squeezie) and expanded omnichannel campaign capabilities.

• Acquired Wonder Media Network to enhance creative and integrated campaign offerings.

• Continued investment in creator support and integrated campaigns, especially in the US and UK.

Financial highlights

• Net sales reached SEK 1,944 million in 2024, up 19% year-over-year; Q4 net sales were SEK 578 million, up 17%.

• Adjusted EBITDA was SEK 26 million for 2024 and SEK 36 million in Q4 (6% margin).

• Operating cash flow was SEK 55 million in Q4; cash position at year-end was SEK 714 million.

• ARPL (average revenue per listen) reached a record SEK 0.54 in Q4, up 28% year-over-year.

• Listens declined 13% in 2024 (8% in Q4), mainly due to iOS 17 and BBC exit, but commercial value was replaced by new shows.

Outlook and guidance

• Focus remains on growing monetizable listens, expanding omnichannel campaigns, and scaling integrated offerings.

• Financial targets include 40%-45% average annual revenue growth (2020–2025), but achieving this in 2025 requires ad market tailwinds.

• More detailed strategic and financial guidance to be provided at Capital Markets Day on April 7.

• Exploring Nasdaq Stockholm Main Market listing in 2025.

• Expected recovery in listens after iOS 17 impact during H1 2025.