In a recent transaction, D. Jonathan Merriman, a director at PodcastOne, Inc. (NASDAQ:PODC), has increased his stake in the company. On September 24, Merriman purchased 10,000 shares of common stock at an average price of $1.65 per share, totaling $16,500. The shares were bought in multiple transactions at prices ranging from $1.61 to $1.69.
This purchase brings Merriman's total holdings in PodcastOne to 189,339 shares of common stock, directly owned. Additionally, it was noted that Merriman has an indirect interest in 163,079 shares through the D. Jonathan and Odile Merriman Family Trust. As a trustee, Merriman shares voting and dispositive power over these shares, but he disclaims beneficial ownership except for his pecuniary interest.
The acquisition of shares by a company director often signals confidence in the firm's future prospects. PodcastOne, a company classified under the services-computer programming, data processing, etc., sector, now sees one of its directors further investing in its growth and success. Merriman's role within the company and his recent investment activity may be of interest to current and potential investors as they assess the company's performance and leadership confidence.
Investors and the market will be watching closely to see how this purchase aligns with PodcastOne's future performance in the competitive technology and media landscape.
In other recent news, PodcastOne, a part of LiveOne, expects a record revenue of $13 million in its preliminary Q1 results, marking a 21% increase from the same period last year. The company also projects strong financial performance, anticipating revenues to reach between $50M and $55M for the fiscal year ending March 31, 2025. This projection follows a successful fiscal year that concluded on March 31, 2024, with the company reporting $43.3M in revenue and $660K in adjusted EBITDA.
In addition to its financial growth, PodcastOne has entered a significant business-to-business partnership with a Fortune 250 company, expected to contribute over $20M in annual revenues. At the company's 2024 Annual Meeting of Stockholders, all eight nominees were elected to PodcastOne's Board of Directors. Shareholders also ratified the appointment of Macias Gini & O'Connell, LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2025.
In other developments, the podcast platform reported a rise to the 11th spot in Podtrac's rankings and an expansion to a 5.5 million unique monthly audience in the U.S. and 17.5 million global downloads and streams. PodcastOne has also welcomed Jon Merriman to its Board of Directors, a strategic move aimed at enhancing the company's growth initiatives and visibility within the financial sector. These are the recent developments that have been shaping the trajectory of PodcastOne.
InvestingPro Insights
Following the news of D. Jonathan Merriman's increased investment in PodcastOne, Inc. (NASDAQ:PODC), current and prospective shareholders may find the latest InvestingPro data and tips insightful for evaluating the company's financial health and future prospects. PodcastOne has a market capitalization of approximately $43.71 million, reflecting its size and value in the market as of the last twelve months up to Q1 2025.
Despite not having paid dividends, which indicates a reinvestment strategy or a focus on growth, PodcastOne's cash position is a point of strength. According to an InvestingPro Tip, the company holds more cash than debt on its balance sheet, which can provide flexibility and resilience against financial uncertainties. Additionally, another InvestingPro Tip suggests that analysts are optimistic, predicting that the company will turn profitable this year. This is a significant forward-looking statement that could influence investor sentiment.
From a performance standpoint, the stock has experienced volatility with a notable 13.78% return over the last month, yet it has seen a decline of 13.73% over the past week. This recent dip could reflect market reactions or specific events impacting the company. Moreover, the company's revenue growth stands at 25.32% for the last twelve months as of Q1 2025, indicating a positive trajectory in its ability to generate sales.
It's worth mentioning that PodcastOne's gross profit margin has been relatively weak at 10.94%, as highlighted in an InvestingPro Tip. This could be an area for potential improvement as the company moves forward. For investors seeking a deeper analysis, there are additional InvestingPro Tips available on the platform that can provide more nuanced insights into PodcastOne's financial and operational performance.
For those looking to explore further, the InvestingPro product offers a total of 9 tips on PodcastOne, which can be accessed for more detailed investment analysis and decision-making support.
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