PodcastOne Director Merriman Acquires $26.4K in Company Stock

Recent Developments at PodcastOne, Inc.

D. Jonathan Merriman, a director at PodcastOne, Inc. (NASDAQ:PODC), has recently bolstered his investment in the company by acquiring additional shares. On September 20, 2024, Merriman purchased a total of 14,000 shares of PodcastOne’s common stock, investing around $26,440.

The purchases were made in two separate transactions, with prices per share ranging from $1.88 to $1.92. This move by a significant insider often indicates a strong belief in the company’s future potential.

Following these acquisitions, Merriman now holds 179,339 shares directly. Furthermore, as a trustee of the D. Jonathan and Odile Merriman Family Trust, he has shared voting and dispositive power over the trust’s shares but disclaims beneficial ownership of those shares beyond his financial interest.

Insider transactions like these are typically closely monitored by investors and market analysts, as they can provide important insights into the health of the company and the sentiment of its leadership.

In other news, PodcastOne has reported noteworthy developments. The company is expecting a record revenue of $13 million in its preliminary Q1 results, representing a 21% increase compared to the same period last year. For the fiscal year ending March 31, 2025, PodcastOne projects revenues between $50 million and $55 million, following a successful fiscal year that ended with $43.3 million in revenue and $660,000 in adjusted EBITDA.

Additionally, PodcastOne has established a significant partnership with a Fortune 250 company that is projected to generate over $20 million in annual revenues. The company has also climbed to the 11th position in Podtrac’s rankings, boasting a unique monthly audience of 5.5 million in the U.S. and a total of 17.5 million global downloads and streams.

During its Annual Meeting, shareholders elected all eight nominees to PodcastOne’s Board of Directors and approved the appointment of Macias Gini & O’Connell, LLP as the company’s independent registered public accounting firm for the upcoming fiscal year. Jon Merriman, a finance expert, has also joined the Board of Directors, a strategic decision aimed at furthering the company’s growth and enhancing its visibility in the financial arena.

In light of these recent developments, PodcastOne, Inc. has seen increased insider activity that may suggest a positive outlook for the company. PodcastOne has a market capitalization of $45.15 million and a negative P/E ratio of -2.27, indicating profitability challenges over the past twelve months as of Q1 2023. However, the company has experienced a robust revenue growth rate of 25.32% during that same period, signifying an expanding business.

Importantly, PodcastOne holds more cash than debt, providing it with greater financial flexibility and stability. The company’s stock has demonstrated strong performance, achieving a total return of 38.23% over the last month.

For those investors seeking a deeper understanding of PodcastOne’s financial health and future prospects, a wealth of insights is available that cover shareholder yield, gross profit margins, and projected profitability for the current year. Such information can offer valuable context for assessing the company’s investment potential amid recent insider transactions.