PodcastOne, Inc. (NASDAQ:PODC) has reported a recent purchase of shares by Executive Chairman Robert S. Ellin. According to the latest SEC filing, Ellin acquired 5,000 shares of the company's common stock at a price of $1.87 per share, totaling $9,350. This transaction increased his direct ownership to 130,563 shares.
Ellin's investment comes as a sign of confidence in the podcasting company, which specializes in computer programming, data processing, and other related services. The company, currently incorporated in Delaware, operates under the trading symbol PODC on the NASDAQ exchange.
The SEC filing also disclosed information regarding indirect ownership through various entities associated with Ellin. It was noted that the total indirect holdings amount to 864,851 shares. This includes shares owned by Trinad Capital Master Fund Ltd., Trinad Capital Management, LLC, and JJAT Corp., entities in which Ellin holds significant control or interest.
Footnotes in the SEC document clarify the nature of Ellin's beneficial ownership, indicating that while he has sole voting and dispositive power over the shares held by these entities, he disclaims beneficial ownership except to the extent of his pecuniary interest. The report also specifies that shares held by a family trust and family foundation, over which Ellin does not exercise voting or dispositive power, are not included in the reported figures.
The recent filing provides investors with an updated snapshot of Ellin's stake in PodcastOne, reflecting his role and investment in the company. As Executive Chairman, his actions are often looked upon as a measure of his belief in the company's future performance and strategic direction.
In other recent news, PodcastOne anticipates a record revenue of $13 million in its preliminary Q1 results, a 21% increase from the same period last year. The company also reported a rise to the 11th spot in Podtrac's rankings and an expansion to a 5.5 million unique monthly audience in the U.S. and 17.5 million global downloads and streams. These figures are preliminary and subject to final review by PodcastOne’s independent registered accounting firm. PodcastOne also projects strong financial performance, with revenues expected to reach between $50M and $55M for the fiscal year ending March 31, 2025. This projection follows a successful fiscal year that concluded on March 31, 2024, with the company reporting $43.3M in revenue and $660K in adjusted EBITDA. In addition, PodcastOne has entered a significant business-to-business partnership with a Fortune 250 company, expected to contribute over $20M in annual revenues. At the company's Annual Meeting, shareholders elected all eight nominees to PodcastOne's Board of Directors and ratified the appointment of Macias Gini & O'Connell, LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2025. The company also welcomed Jon Merriman to its Board of Directors, a strategic move aimed at enhancing the company's growth initiatives and visibility within the financial sector. These are recent developments in the company's operations and growth strategy.
InvestingPro Insights
PodcastOne, Inc. (NASDAQ:PODC) has recently been in the spotlight with the purchase of shares by Executive Chairman Robert S. Ellin. This move is paralleled by some notable financial metrics and InvestingPro Tips that investors may find valuable when considering the company's current position and future prospects.
InvestingPro Data shows that PodcastOne holds a market capitalization of $45.15 million and has experienced a revenue growth of 25.32% over the last twelve months as of Q1 2025. Despite this growth, the company's gross profit margin stands at 10.94%, which signifies challenges in maintaining profitability.
Two InvestingPro Tips highlight the company's financial health and performance. Firstly, PodcastOne has more cash than debt on its balance sheet, which can be a positive sign of financial stability. Secondly, the company has seen a significant return over the last week, with an 8.98% price total return. These returns extend over the last month and three months, with 33.81% and 18.95% price total returns, respectively, showcasing a strong short-term performance for investors to consider.
It's worth noting that analysts predict the company will be profitable this year, which may be a contributing factor to the recent share purchase by Ellin. This sentiment is supported by the fact that the company's liquid assets exceed its short-term obligations, which is another InvestingPro Tip indicating financial resilience.
For investors seeking a deeper analysis, there are more InvestingPro Tips available, providing a comprehensive view of PodcastOne's financial landscape. Accessing these additional insights can further guide investment decisions and strategy.
The recent actions by Ellin, combined with the company's performance metrics and financial health tips from InvestingPro, paint a picture of a company with potential opportunities, despite some of the challenges it faces in terms of profitability and market competition.
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