PodcastOne (NASDAQ:PODC) Posts Quarterly Earnings Results

PodcastOne (NASDAQ:PODC) released its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share for the quarter, Zacks reports. PodcastOne had a negative net margin of 4.29% and a negative return on equity of 16.98%.

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 Trading Down 6.6%

NASDAQ PODC traded down $0.22 during trading on Wednesday, reaching $3.10. 64,906 shares of the company’s stock were exchanged, compared to its average volume of 123,450. The company’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $3.27. The firm has a market capitalization of $93.61 million, a PE ratio of -28.18 and a beta of 2.15. PodcastOne has a fifty-two week low of $1.30 and a fifty-two week high of $5.20.

Analyst Ratings Changes

PODC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed 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 research note on Saturday, June 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Insider Buying and Selling

In other news, Director D Jonathan Merriman acquired 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $4.38 per share, for a total transaction of $30,660.00. Following the completion of the acquisition, the director owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. This represents a 2.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On PodcastOne

Several hedge funds have recently made changes to their positions in PODC. Creative Planning bought a new stake in shares of PodcastOne during the second quarter valued at approximately $49,000. Citadel Advisors LLC lifted its holdings in shares of PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after acquiring an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of PodcastOne during the 4th quarter valued at about $81,000. Institutional investors own 2.87% of the company’s stock.

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.