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Storytel Interim Report Q4, 2023

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STOCKHOLM, Feb. 15, 2024 /PRNewswire/ — “Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023”, says Johannes Larcher, CEO, Storytel.

Financial Highlights Q4

Fourth quarter 2023 compared to the fourth quarter 2022

Streaming revenue up 16% to 858 (742) MSEK; or 14% at constant exchange rates (CER)Group revenue increased by 9% to 946 (867) MSEK Adjusted Gross profit up 20% to 387 (322) MSEK, equaling a margin of 40.9% (37.2%) Gross profit was down 24% to 246 (322) MSEKAdjusted EBITDA increased by 62% to 86 (53) MSEK, equaling a margin of 9.1% (6.1%) EBITDA was -12 (36) MSEKAdjusted Operating profit of -8 (-32) MSEK, and -680 (-50) MSEK including IACsBasic and diluted earnings per share amounted to -9.34 (-1.30) SEKCash flow from operations before changes in working capital amounted to -25 (12) MSEKOperational cash flow amounted to 47 (12) MSEK

January – December 2023 compared to the period January – December 2022

Streaming revenue grew 12% to 3,242 (2,888) MSEK; or 9% at constant exchange ratesGroup revenue increased by 9% to 3,489 (3,200) MSEK, or 10% when excluding Russia Adjusted EBITDA increased by 169% to 248 (92) MSEK, equaling a margin of 7.1% (2.9%) EBITDA was 150 (-68) MSEKBasic and diluted earnings per share amounted to -10.63 (-5.68) SEKCash flow from operations before changes in working capital amounted to 96 (-116) MSEKOperational cash flow amounted to 90 (-139) MSEK

Other Highlights Q4

Storytel recognized Items Affecting Comparability (IACs) of 672 MSEK, following the sharpened focus on profitability. Of these IACs, 465 MSEK relate to non-cash impairment charges on goodwill attributed to Audiobooks.com  Storytel launched a strategic partnerships with the Dutch telecom operator KPN, which has already been driving meaningful subscriber acquisition in The Netherlands

Highlights after the end of the quarter

Storytel announced an efficiency optimization initiative that will be implemented during the first quarter of 2024, including a 13% reduction in workforceStorytel upgraded its mid-term targets to reach group revenues of around 4.5 BSEK in 2026 with a streaming revenue CAGR of 10-12%, an adjusted EBITDA margin of above 15%, and an operational cash flow of above 10% of revenue In 2024, Storytel expects to deliver group revenue growth around 10% with an adjusted EBITDA margin of above 12% and operational cash flow above 7% of revenueStorytel Books and Nextory reached an agreement to distribute Storytel Books’ titles on Nextory’s platform as of 1 February 2024Storytel extended the existing revolving credit facility (RCF) until 2 April 2025 and reduced the facility to 750 MSEK, at otherwise unchanged terms 

Table 1 Key Performance Indicators
 

TSEK

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

YTD 2022

YTD 2023

Streaming Total

Revenue

742,283

742,081

798,881

842,407

858,209

2,887,763

3,241,579

Revenue excl Russia

742,374

742,081

798,881

842,407

858,209

2,848,329

3,241,579

Adjusted Gross profit

304,594

317,067

344,949

366,414

373,795

1,210,037

1,402,226

Adjusted Gross margin

41.0 %

42.7 %

43.2 %

43.5 %

43.6 %

41.9 %

43.3 %

Gross profit

304,594

317,067

344,949

366,414

246,503

1,174,469

1,274,934

Avg. Paying Subscribers (thousands)

2,036′

2,041′

2,055′

2,144′

2,201′

2,046′

2,111′

ARPU (SEK/month)

122

121

130

131

130

118

128

Streaming Nordics1

Revenue

498,336

496,630

543,765

571,625

573,674

1,919,046

2,185,694

Adjusted Gross profit

184,767

200,992

227,364

241,027

243,380

740,789

912,764

Adjusted Gross margin

37.1 %

40.5 %

41.8 %

42.2 %

42.4 %

38.6 %

41.8 %

Gross profit

184,767

200,992

227,364

241,027

186,564

717,199

855,947

Avg. Paying Subscribers (thousands)

1,132′

1,125′

1,122′

1,169′

1,183′

1,100′

1,150′

ARPU (SEK/month)

147

147

162

163

162

145

158

Streaming Non-Nordics

Revenue

243,947

245,451

255,117

270,782

284,535

968,717

1,055,885

Revenue excl Russia

244,038

245,451

255,117

270,782

284,535

929,284

1,055,885

Adjusted Gross profit

119,828

116,075

117,585

125,387

130,415

469,248

489,462

Adjusted Gross margin

49.1 %

47.3 %

46.1 %

46.3 %

45.8 %

48.4 %

46.4 %

Gross profit

119,828

116,075

117,585

125,387

59,939

457,271

418,986

Avg. Paying Subscribers (thousands)

904′

916′

933′

975′

1,018′

946′

961′

ARPU (SEK/month)

90

89

91

93

93

85

92

Books

Revenue

193,069

130,083

128,668

139,970

170,946

646,572

569,667

Adjusted Gross profit

85,141

68,472

67,525

65,098

94,799

329,641

295,894

Adjusted Gross margin

44.1 %

52.6 %

52.5 %

46.5 %

55.5 %

51.0 %

51.9 %

Gross profit

85,141

68,472

67,525

65,098

85,015

329,641

286,110

Group total2

Revenue

866,663

796,293

851,070

895,758

946,099

3,200,382

3,489,220

Adjusted Gross profit

322,377

315,501

333,183

351,869

387,221

1,248,713

1,388,954

Adjusted Gross margin

37.2 %

39.6 %

39.1 %

39.3 %

40.9 %

39.0 %

39.8 %

Gross profit

322,377

315,501

333,183

351,869

245,593

1,213,145

1,247,326

1) Streaming revenue includes all of Storytel Norway’s revenue.

2) In the consolidated accounts, Storytel Norway is reported in accordance with the equity method. As a result, the Streaming revenue listed in Table 1 is higher than in the consolidated statement of accounts in order to provide a more accurate figure for average revenue per subscriber. Please see Note 5 for additional details.

FNCA Sweden AB is the Company’s Certified Adviser.

The information was provided, through the agency of the above contact person, at the time stated in this press release, by Cision.

For more information, please contact:
Mattias Frithiof, Head of Investor Relations, Storytel Group
Tel: +46 76 535 26 74
Email: mattias.frithiof@storytel.com

Malin Lindborn, Head of Communications, Storytel Group
Tel: +46 735 33 17 70
Email: malin.lindborn@storytel.com

About Storytel
Storytel is one of the world’s largest audiobook and e-book streaming services and offers more than one million titles on a global scale. Our vision is to make the world a more empathetic and creative place, with great stories to be shared and enjoyed by anyone, anywhere and anytime.

The streaming business within the Storytel Group is conducted under the brands Storytel, Mofibo and Audiobooks.com. The publishing business is managed by Storytel Books, and by the audiobook publisher StorySide. The Storytel Group operates in over 25 markets, with focus on ten core markets: the five Nordic countries, the Netherlands, Turkey, Poland, Bulgaria, and the USA. The headquarters are located in Stockholm, Sweden.

The following files are available for download:

https://mb.cision.com/Public/11546/3928898/8a8e21977b576421.pdf

Year-end report 2023 – Storytel AB publ – Feb 15 2024

View original content:https://www.prnewswire.co.uk/news-releases/storytel-interim-report-q4-2023-302062763.html

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Products That Count Announces the Winners of the 2026 CPO Awards, Honoring the Product Leaders Redefining Their Craft in the AI Era

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The annual Awards recognize Chief Product Officers whose scope, influence, and impact have expanded dramatically as AI reshapes every organization.

SAN FRANCISCO, May 1, 2026 /PRNewswire-PRWeb/ — Products That Count, the world’s largest nonprofit community of product managers with over 600,000 members, today announced the winners of the 2026 CPO Awards. The Awards, produced in partnership with Mighty Capital, celebrate the Chief Product Officers whose leadership is shaping how products are built, shipped, and scaled in a moment of unprecedented change.

“The CPO mandate has fundamentally expanded,” said SC Moatti, Founder and Managing Partner of Products That Count. “Our winners this year are setting the standard for what the role becomes when AI is woven into every layer of the business. They are the builders other builders learn from.”

The role of the Chief Product Officer has never been broader. Today’s CPOs are architecting the systems, teams, and decisions that determine whether their companies win in the AI era.

The 2026 CPO Award Winners, by category:

President / CEO: Former CPOs who have elevated to the top role.

Eglae Recchia, CPO, Keyway

Maria Thomas, CEO (promoted from CPO), Rebrandly

Nabil Bukhari, President, Extreme Networks

Shiven Ramji, President & Chief Product Officer, Okta

Investor Mindset: Treating product like a portfolio of bets, with M&A as a strategic lever.

Achuth Rao, CPO, New York Life Insurance Company

Andrew Tsao, CPO & Analytics Officer, Audible

Dane Glasgow, CPO, Paramount/Skydance

Diana Benli, Chief Product Officer, Cognizant

Diego Dugatkin, Chief Product Officer, Box

Mike Bidgoli, CPO & CTO, Tubi

Vasu Murthy, CPO, Cohesity

Vrushali Paunikar, CPO, Carta

Ambrish Verma, Chief Product Officer, Ingram Micro

Enterprise Scale: Operating in complexity. Not speed alone, but transformation at scale.

Carla Guzzetti, Chief Product Officer, Cloud Applications, Extreme Networks

Eddie Garcia, Chief Product Officer, eBay

Gautam Shah, Chief Product Officer, Carelon

Ghazal Badiozamani, SVP of Product Management, Cengage

Kelli Fielding, Chief Product Officer, Europe, TransUnion

Mikhail Vaysbukh, Chief Product Officer, Elsevier

Monica Ugwi, GM, Copilot + Agents for Manufacturing & Mobility, formerly Microsoft

Randall Hounsell, SVP Connected Living Product, Comcast

Rita Khan, Chief Consumer & Digital Officer, formerly Optum

Ryan Bergstrom, Chief Product Officer, Paychex

Tim Simmons, Chief Product Officer, formerly Walmart International

Tina Tarquinio, Chief Product Officer, IBM Z and LinuxONE, IBM

Todd Garner, CPO, Sam’s Club

Trey Courtney, Global Chief Product & Partnerships Officer, Mood Media

Wyatt Jenkins, SVP Product, Intuit

Shayani Roy, SVP Product Management and Design, OpenTable

Scale Up: Growth-stage leaders putting the scale in place.

Aaron Seevers, Chief Product Officer, Noom

Avijit Sinha, SVP Corporate Development, EDB

Hannah Park, Chief Product Officer, Planned Parenthood

Joe Futty, CPO & CTO, Pipedrive

Jonathan Shottan, Chief Product Officer, Tonal

Kimberly Bloomston, CPO, 6sense

Kousthub Raghavan, Chief Product & Digital Officer, CLEAR

Natalia Williams, Chief Product Officer, Qonto

Nikita Miller, Chief Product Officer, Perk

Nilesh Khandelwal, Chief Product Officer, Rakuten Rewards

Paul Burke, CPO, Reveleer

Randhir Vieira, CPO, formerly Healthify

Renn Turiano, CPO, Gannett – USA Today Network

Sarah Turrin, CPO, Color

Emerging: On an amazing trajectory, regardless of tenure.

Adam Kelsey, EVP, Product Management, SignalWire

Apurva Garware, SVP, Head of Product, Invisible Technologies

Chai Atreya, Chief Product Officer, ActiveCampaign

Jack Brody, Chief Product Officer, Suno

John Barrus, VP of Product Management, Niobium

Kevin Swint, former Co-Founder & CPO, RemixAI

Nirmal Kumar, CPO, Aliaswire

Rafael Flores, Chief Product Officer, Treasure Data.ai

Sarah Jacob Singh, CPO & CTO, Medbridge

Sarosh Waghmar, CPO & Co-Founder, Spotnana

Vanessa Davis, CPO, LegalOn

Vikas Seth, CPO, ARIS

Platform: Multiplying impact beyond their own product by leveraging the ecosystem at scale.

Arnab Bose, CPO, Asana

Kishan Chetan, EVP & GM, Agentforce Service Cloud, Salesforce

Shardul Vikram, Chief Product Officer, SAP Application AI, SAP

Tom Occhino, Chief Product Officer, Vercel

Rohit Badlaney, CPO & General Manager, IBM Cloud Platform, IBM

Terre Layton, former CPO, BetterHealth

B.J. Boyle, Chief Product Officer, MacroHealth

Winners were selected by an Independent Advisory Council of seasoned product executives based on impact and leadership.

ABOUT PRODUCTS THAT COUNT

Products That Count is the world’s largest nonprofit community, engaging 600,000+ product managers and Chief Product Officers (CPOs) united by a mission: to empower everyone to build products that truly count. In a world flooded with products, only a few ignite passion, deliver value at scale, and transform lives. Behind those exceptional products are visionary CPOs and high-performing product teams driving innovation at the most bleeding-edge companies. We recognize these trailblazers through our coveted Awards, accelerate careers from PM to the C-suite and beyond through daily best practices, and serve as the trusted advisor to nearly all Fortune 1000 CPOs. Our Corporate Alliance includes Walmart, Ford, Cisco, Johnson & Johnson, Amplitude, and more. The most admired product leaders across industries serve on our Advisory Council, guiding the future of product leadership. Together, we’re shaping a future where every product counts. Learn more at productsthatcount.org

ABOUT MIGHTY CAPITAL

Mighty Capital is the VC firm that leverages the Product Alpha Effect, a data-backed framework for outperformance that proves great products drive great businesses. Founded in 2018 by SC Moatti, a product visionary and former Meta product leader, and Jennifer Vancini, a veteran of tech investing and M&A, we bring a differentiated edge to venture. Through Moatti’s 600,000-strong Products That Count network of product leaders, we see where the world is going before others do. That proprietary signal gives us an advantage in sourcing, diligence, and post-investment value creation. Our portfolio speaks for itself: 1 in 5 companies is a category leader like Amplitude (NASDAQ:AMPL), Groq, and Netskope (NASDAQ:NTSK). Founders consistently call us the most value-add investor on their cap table, and use our global product ecosystem as a marketplace to accelerate time to revenue, scale, and exit. Anchored by GCM Grosvenor, we’re deploying Fund III with both prior funds in top decile DPI and TVPI, more than $20B in value created, and 6 IPOs to date. Learn more at Mighty.Capital.

Media Contact

Emma Shirlin, Products That Count, 1 8287020154, emmashirlin@productsthatcount.com

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SOURCE Products That Count

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Thomson Reuters Announces Cash Distribution Per Share and Share Consolidation Ratio for Return of Capital and Share Consolidation Transactions

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Participating shareholders to receive cash distribution of US$1.435518 per common share

Shares to begin trading on a post-consolidated basis on May 4, 2026

TORONTO, May 1, 2026 /PRNewswire/ — Thomson Reuters (TSX/Nasdaq: TRI) today announced the cash distribution per share and the share consolidation ratio for its return of capital and share consolidation transactions, which have received the requisite approvals and will be effective at 3:01 a.m. (Toronto time) on May 4, 2026. The company’s common shares will begin trading on the Toronto Stock Exchange (TSX) and the Nasdaq on a post-consolidated basis when the markets open on May 4, 2026. The company’s trading symbol will remain “TRI” on both exchanges. The new CUSIP number for the post-consolidated common shares is 884903881 and the new ISIN number is CA8849038812.

The return of capital and share consolidation transactions consist of a distribution of US$1.435518 per common share (US$605 million in the aggregate) and a consolidation of the company’s outstanding common shares (or “reverse stock split”) at a ratio of 1 pre-consolidated share for 0.984560 post-consolidated shares. The share consolidation is proportional to the special cash distribution and the share consolidation ratio was based on the volume weighted average trading price of the shares on the Nasdaq for the five trading day period which ended today.Eligible shareholders who duly exercised their right to opt out of the return of capital will not receive the cash distribution. Each opting-out shareholder will still participate in the transactions through a share exchange and the share consolidation, but will continue to hold the same number of shares that it currently holds. Such opting-out shareholders will realize a proportionate increase in their equity and voting interests in the company by virtue of the consolidation of the participating shares under the share consolidation.

As promptly as practicable after the transactions are effective, Computershare Investor Services Inc., the company’s depositary for the transactions, will deliver cash distribution amounts to registered participating shareholders, subject to the terms and conditions of the transactions. The effects of the share consolidation will be reflected in the company’s share register. Beneficial or non-registered shareholders participating in the return of capital will receive cash distributions from their intermediary and the effects of the share consolidation will be recorded in their accounts.

Fractional shares will not be issued as part of the return of capital and share consolidation transactions and shareholders will receive the value of any fractional shares in cash, subject to certain exceptions described in the company’s management proxy circular dated March 13, 2026 (the “Circular”).

The Canadian and U.S. tax consequences of the return of capital and share consolidation transactions are complex. Shareholders are encouraged to review the Circular and related materials carefully and to consult their financial, tax and legal advisors.

Further details of the return of capital and share consolidation transactions are described in the Circular and related materials, which are available on www.thomsonreuters.com/2026specialmeeting. The return of capital and share consolidation documents were previously filed with the Canadian securities regulatory authorities on SEDAR+ and are available at www.sedarplus.ca. The documents were also furnished to the U.S. Securities and Exchange Commission through EDGAR and are available at www.sec.gov.  

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, audit, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth and transparency. Reuters, part of Thomson Reuters, is the world’s leading provider of trusted journalism and news. For more information, visit thomsonreuters.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this news release are forward-looking within the meaning of applicable Canadian and U.S. securities laws, including the Private Securities Litigation Reform Act of 1995, including statements relating to the completion of the return of capital and share consolidation transactions and the anticipated tax treatment for shareholders participating in the return of capital and those opting out. These forward-looking statements are based on certain assumptions and reflect our company’s current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the risk factors discussed in materials that Thomson Reuters from time to time files with, or furnishes to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that the return of capital and share consolidation transactions will be completed or that other events described in any forward-looking statement will materialize. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.

CONTACTS
MEDIA
Zoe Zanettos
Director, Corporate Affairs
+1 647 202 8948
zoe.zanettos@thomsonreuters.com 

INVESTORS
Gary E. Bisbee, CFA
Head of Investor Relations 
+1 646 540 3249
gary.bisbee@thomsonreuters.com 

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SOURCE Thomson Reuters

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Lockheed Martin Awarded U.S. Space Force Space-Based Interceptor Contracts to Meet Layered Missile Defense Demand

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HUNTSVILLE, Ala., May 1, 2026 /PRNewswire/ — Lockheed Martin (NYSE: LMT) has been selected by U.S. Space Force Space Systems Command to develop capabilities supporting the Space-Based Interceptor (SBI) program. These agreements mark progress toward fielding core elements of an integrated, layered homeland defense solution. 

This work will accelerate development, testing and integration of SBI capabilities, delivering an early engagement layer that expands coverage, enhances survivability and strengthens deterrence against emerging missile threats.

Lockheed Martin’s SBI system leverages our experience with combat-proven interceptors like THAAD and PAC-3 as well as the Next Generation Interceptor, hypersonic strike systems and missile warning and tracking systems.

The result is an early, additional layer to the multi-domain, layered shield that protects the homeland and critical infrastructure from evolving missile threats.

“Lockheed Martin is already making next generation integrated air and missile defense a reality with our proven capabilities and the expertise across our entire network,” said Robert Lightfoot, Lockheed Martin Space president. “We’re investing in technology and infrastructure, while bringing together the strength of the full industrial base, to deliver advanced capabilities like SBI faster and are committed to delivering an integrated demonstration by 2028.” 

About Lockheed Martin

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.Lockheedmartin.com.

The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the official policies, either expressed or implied, of the U.S. Government.

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SOURCE Lockheed Martin

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