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D. Jonathan Merriman, a director at PodcastOne, Inc. (NASDAQ:PODC), has increased his stake in the company through a series of stock purchases. According to a recent SEC filing, Merriman acquired a total of 12,900 shares of PodcastOne’s common stock over three transactions. These acquisitions, made between March 27 and March 31, were executed at prices ranging from $1.46 to $1.51 per share, totaling approximately $19,254. The timing appears opportune, as InvestingPro data shows the stock has gained nearly 9% in the past week, with shares now trading at $1.61. The company, currently valued at approximately $38 million, has demonstrated strong revenue growth of 23% over the last twelve months.
Following these transactions, Merriman now holds 215,579 shares indirectly through the D. Jonathan and Odile Merriman Family Trust. An additional 5,200 shares are held in a custodial account for his son, bringing his direct ownership to 216,452 shares. Merriman, as a trustee of the family trust and custodian of his son’s account, holds voting and dispositive power over these shares, although he disclaims beneficial ownership except for his pecuniary interest. According to InvestingPro analysis, analysts maintain a bullish outlook on PODC with price targets ranging from $4.50 to $5.00, suggesting significant upside potential. Discover more insights and 7 additional ProTips for PODC through InvestingPro’s comprehensive research platform.
In other recent news, PodcastOne Inc. reported its third-quarter fiscal 2025 earnings, revealing a net loss per share that did not meet analyst expectations. The company reported a net loss of $0.06 per share, missing the forecasted earnings per share (EPS) of $0.02. Despite this, PodcastOne demonstrated significant revenue growth, achieving $12.7 million, which exceeded the forecast of $10.96 million and marked a 22% increase year-over-year. Additionally, PodcastOne has set a full-year revenue guidance of at least $51 million, representing a 17% increase year-over-year.
In strategic developments, PodcastOne announced a partnership 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 launched new products and formed strategic partnerships, including with Amazon’s ART19, to bolster its market position. Analysts from firms such as Roth Capital Partners (WA:CPAP) and Joseph Gunnar have discussed the company’s strategic moves and financial performance. PodcastOne remains debt-free with $600,000 in cash and cash equivalents, which positions it well for future growth initiatives.
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