PodcastOne (NASDAQ:PODC) Issues Quarterly Earnings Results

PodcastOne (NASDAQ:PODC) issued its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, Zacks reports. The company had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $17.76 million. PodcastOne had a negative return on equity of 19.85% and a negative net margin of 5.01%.

Here are the key takeaways from PodcastOne’s conference call:

• Record first-quarter revenue reached $16.1 million, while adjusted EBITDA rose to $1.6 million from $580,000 year over year, driven by revenue growth and improved contribution margins.
• The operating loss widened to $1.6 million from $1.1 million, and net loss increased to $1.6 million, or $0.05 per share, primarily due to higher stock-based compensation in general and administrative expenses.
• PodcastOne advanced to No. 6 among U.S. podcast publishers and expanded its content portfolio through acquisitions, creator renewals, original programming, and partnerships including A&E’s “The First 48.”
• Management highlighted growing monetization opportunities from video, short-form social content, and distribution through YouTube, Netflix, Amazon, Spotify, and SiriusXM, with video and integrated campaigns supporting higher advertising CPMs.
• The company ended the quarter with $7 million in cash and no debt, while management said it is evaluating additional acquisitions and expects typical seasonal softness during summer followed by its strongest business period in calendar-year fourth quarter.

PodcastOne Stock Performance

Shares of NASDAQ:PODC traded up $0.04 during midday trading on Friday, hitting $3.21. The company’s stock had a trading volume of 2,671 shares, compared to its average volume of 122,765. The company has a market cap of $96.79 million, a P/E ratio of -26.71 and a beta of 2.15. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20. The business’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $3.28.

Insider Buying and Selling

In other PodcastOne news, Director D Jonathan Merriman bought 7,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $4.38 per share, with a total value of $30,660.00. Following the purchase, the director directly owned 309,732 shares of the company’s stock, valued at $1,356,626.16. This trade represents a 2.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On PodcastOne

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning acquired a new position in PodcastOne during the second quarter worth $49,000. Citadel Advisors LLC boosted its position in shares of PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after acquiring an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of PodcastOne in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. Wall Street Zen cut PodcastOne from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

PodcastOne Company Profile

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.