Robert S. Ellin, the Executive Chairman of PodcastOne, Inc. (NASDAQ:PODC), recently acquired a significant number of shares in the company. According to a recent filing, Ellin purchased a total of 15,367 shares over two days. The transactions, executed on November 13 and 14, involved shares bought at prices ranging from $1.64 to $1.79 per share. The total value of these transactions amounts to approximately $26,006.
Following these acquisitions, Ellin's direct ownership in PodcastOne stands at 145,930 shares. Additionally, Ellin holds indirect ownership of 864,851 shares, which includes holdings through entities like Trinad Capital Master Fund Ltd., Trinad Capital Management, LLC, and JJAT Corp. These entities contribute to Ellin's overall influence within the company, although he disclaims beneficial ownership of certain securities except for his pecuniary interest.
In other recent news, PodcastOne, Inc. reported a record revenue of $13 million in its preliminary Q1 results, a 21% increase from the same period last year. The company projects revenues to reach between $50M and $55M for the fiscal year ending March 31, 2025. This follows a successful fiscal year with the company reporting $43.3M (NYSE:MMM) in revenue and $660K in adjusted EBITDA. In a significant development, PodcastOne has formed a business-to-business partnership with a Fortune 250 company, expected to contribute over $20M in annual revenues.
In board-related news, PodcastOne announced the resignation of board member Craig Foster, who is leaving to focus on other professional commitments. The company is actively searching for a qualified individual to fill the now-vacant committee roles. At the recent Annual Meeting of Stockholders, all eight nominees were elected to PodcastOne's Board of Directors and the appointment of Macias Gini & O'Connell, LLP as the company's independent registered public accounting firm for the upcoming fiscal year was ratified.
These are the recent developments in PodcastOne, Inc., as the company adapts to the industry's dynamic landscape.
InvestingPro Insights
Robert S. Ellin's recent share purchases in PodcastOne, Inc. (NASDAQ:PODC) align with several interesting financial metrics and trends revealed by InvestingPro data. The company's market capitalization stands at $39.77 million, reflecting its current position in the market.
PodcastOne has shown strong revenue growth, with a 23% increase in the last twelve months as of Q2 2025, reaching $47.46 million. This growth trajectory is further supported by a 15.58% quarterly revenue increase in Q2 2025. These figures suggest that the company is expanding its market presence, which could be a factor in Ellin's decision to increase his stake.
However, it's worth noting that PodcastOne is not currently profitable, with a negative operating income of $6.63 million in the last twelve months. This is reflected in the company's P/E ratio of -4.95, indicating that investors are paying a premium despite current losses, possibly betting on future profitability.
InvestingPro Tips highlight some intriguing aspects of PodcastOne's financial situation. The company holds more cash than debt on its balance sheet, which could provide financial flexibility as it pursues growth. Additionally, PodcastOne has shown significant returns over the last week, month, and three months, with the stock price increasing by 24.88%, 31.22%, and 27.52% respectively. These short-term gains might have influenced Ellin's timing for his share purchases.
It's important to note that while the company has shown strong recent performance, it also suffers from weak gross profit margins, as indicated by another InvestingPro Tip. This could be an area for potential improvement as the company seeks to achieve profitability.
For investors interested in a more comprehensive analysis, InvestingPro offers 8 additional tips for PodcastOne, providing a deeper understanding of the company's financial health and market position.
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