Podimo, the podcast and audiobook platform founded in 2019, has reported its largest deficit to date in 2024, amounting to 473 million kroner. This brings the company’s total losses to over 1.3 billion kroner.

Founder and CEO Morten Strunge attributed part of the deficit to a change in the company’s practice for depreciating the value of its content archive.

Despite the significant losses, Strunge stated that the figures are in line with the company’s strategy and that Podimo has experienced substantial revenue growth, exceeding 50 percent annually.

The company’s financial statement reveals that its equity has decreased to 249 million kroner. However, the management report indicates that Podimo anticipates no immediate liquidity issues and has sufficient financial flexibility to continue its commercial strategy across its core markets.

According to the company, Podimo reached one million paying subscribers in the first quarter of this year. The platform currently operates in seven countries.