PodcastOne director Jonathan Merriman acquires shares worth $12,040

Jonathan Merriman, a director at PodcastOne, Inc. (NASDAQ:PODC), has recently acquired 7,000 shares of common stock in a transaction valued at approximately $12,040. The shares were purchased at a price of $1.72 each on March 18, 2025. The purchase comes as InvestingPro data shows the stock trading below its Fair Value, despite analyst price targets ranging from $4.50 to $5.00. Following this transaction, Merriman holds a total of 202,679 shares directly and indirectly through various accounts. The acquisition was executed through the D. Jonathan and Odile Merriman Family Trust, where Merriman shares voting and dispositive power over the shares. Additionally, he holds shares in a custodial account for his son, under the Uniform Transfers to Minors Act, where he also retains voting and dispositive power. While the stock has declined about 21% over the past year, InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 1.18 and holds more cash than debt on its balance sheet. Get access to 6 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.

In other recent news, PodcastOne Inc. reported a third-quarter fiscal 2025 net loss per share of $0.06, missing analyst expectations of $0.02. Despite the earnings miss, the company showed strong revenue growth, reporting $12.7 million in revenue, which exceeded the forecast of $10.96 million. PodcastOne's strategic initiatives included launching new products and forming partnerships, notably with Amazon (NASDAQ:AMZN)'s ART19, which is expected to generate a minimum of $15 million in guaranteed revenue over the next three years. The company also maintained a strong financial position with no debt and $600,000 in cash and cash equivalents. Analyst firms have not made any updates on stock ratings following these developments. PodcastOne's future guidance projects a full-year revenue of at least $51 million, representing a 17% year-over-year increase. The company also anticipates achieving positive adjusted EBITDA for fiscal 2025. These developments highlight PodcastOne's efforts in expanding its market presence and diversifying its revenue streams.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.