What has been the driver that's driven that growth to profitability?

Yeah, I think the success we had [clears throat] in '25 and so far in 2026 kinda started in 2024 with a, a lot of alignment work that we did into the beginning of '25.

So, you know, I think sometimes companies like ours, we're all in a new industry.

Think about how many things have changed, how many companies have, you know, sorta shifted strategy over the last three years even.

So this is moving at light speed.

So for us, you know, we got really focused on what do we do, what are we good at? We stopped doing a lot of things, and you could catalog all the things that we shut down, where it's like, you know, sometimes you have to say, "You know what? That's not our lane." And it's actually made us better partners with people like Apple and Spotify by not trying to do everything for everybody.

We focus on infrastructure, people, technology, being the best place for independent creator.

So it doesn't feel like they're doing anything wrong for the consumer who's chosen to pay, but for platforms like yourself who have partners who have ads within their platform, what is Acast's response to Spotify?

What has been the driver that's driven that growth to profitability?

Yeah, I think the success we had in 25 and so far in 2026 kind of started in 2024 with a lot of alignment work that we did into the beginning of 25.

So, you know, I think sometimes companies like ours, we're all in a new industry.

Think about how many things have changed, how many companies have, you know, sort of shifted strategy over the last three years even.

So this is moving at light speed.

So for us.

You know, we got really focused on what do we do? What are we good at? We stopped doing a lot of things and you could catalog all the things that we shut down where it's like, you know, sometimes you have to say, you know what, that's not our lane.

But for platforms like yourself who have partners who have ads within their platform, what is a cost response to Spotify?