Business
PodcastOne (Nasdaq: PODC) Reports Q1 FY 2025 Record Revenue of $13.2M (+25% YoY)
Adjusted EBITDA* of $(0.3M)Signed $24M revenue B2B partnership with Fortune 250 companyExpanded pipeline of podcasts ready to be adapted in TV and film
About this update from Podcastone, Inc.
[{"type":"text","content":"Adjusted EBITDA* of $(0.3M)Signed $24M revenue B2B partnership with Fortune 250 companyExpanded pipeline of podcasts ready to be adapted in TV and film projectsAdded 9 New Podcasts, Total Now at 187Sold Another Successful Show to a Top 5 Streaming PlatformFY 2025 Revenue Guidance of $51-56MSenior Management to Host a Live Conference Call and Audio Webcast at 11:30 A.M. ET on Tuesday, August 13, 2024 LOS ANGELES, Aug. 13, 2024 (GLOBE NEWSWIRE) -- PodcastOne (Nasdaq: PODC), a leading podcast platform and a subsidiary of LiveOne (Nasdaq: LVO), announced today its operating results for the first fiscal quarter ended June 30, 2024 (“Q1 FY 2025”). PodcastOne’s President and Co-Founder, Kit Gray, commented, “Once again, I am extremely proud of our team's accomplishments. We’ve seen record-breaking revenue figures backed by our incredible team. By implementing strategic acquisitions, effective marketing efforts, and leveraging long-term relationships with advertisers and brands, it allows us to maintain profitability and worth for both our company and valued shareholders. We look forward to continued growth and success as we prioritize revenue and commit to the future of our business.” Recent and Q1 FY 2025 Highlights LiveOne currently owns approximately 72% of PodcastOne and it will continue to consolidate PodcastOne’s financial results. PodcastOne was ranked 11th in Podtrac’s Podcast Industry Top Publishers Rankings for July 2024 with a U.S. Unique Monthly Audience of ~5.5 million and Global Downloads and Streams of ~17.8 million. PodcastOne has increased its slate of exclusive shows to 187 original titles. Q1 FY 2025 vs Q1 FY 2024 Results Summary (in $000’s, except per share; unaudited) Three Months Ended June 30, 2024 2023 Revenue$13,159 $10,637 Operating income (loss)$(1,366) $193 Total other income (expense)$- $(403)Net income (loss)$(1,366) $(210)Adjusted EBITDA*$(316) $363 Net income (loss) per share basic and diluted$(0.06) $(0.01) Q1 FY 2025 Results Summary Discussion For Q1 FY 2025, PodcastOne posted revenue of $13.2 million, a 24% increase as compared to $10.6 million in the same period in the prior year. Q1 FY 2025 Operating Loss was ($1.4) million compared to Operating Income of $0.2 million in the first fiscal quarter ended June 20, 2023 (“Q1 FY 2024”). The $1.6 million decrease in Operating Income was largely a result of...