PodcastOne reports record revenue and reduced debt, raising FY 2025 revenue guidance

From GlobeNewswire: 2024-05-30 07:30:00

PodcastOne, a leading podcast platform, boasted record revenue of $43.3M for FY 2024 and $11.7M for Q4 FY 2024, as well as adjusted EBITDA of $0.7M for FY 2024 and $258K for Q4 FY 2024. The company raised shareholders’ equity by $9M and reduced liabilities by $13M, extinguishing all debt.

LiveOne (Nasdaq: LVO) acquired 159,000 PODC shares at $3 per share in March 2024 and continues to acquire more. The company has raised its FY 2025 revenue guidance to $51-56M. Senior management will host a special shareholder call on June 5, 2024 at 10:00 A.M. ET to discuss the results.

PodcastOne attributed its success to originating, promoting, and acquiring podcasts. In Q4 Fiscal 2024, PodcastOne posted revenue of $11.7M, a 32% increase from the previous year. The company reduced operating losses, increased EBITDA, and raised guidance for FY 2025. PodcastOne currently owns approximately 73% of PodcastOne and is focused on delivering value to shareholders.



Read more at GlobeNewswire:: PODC) Reports Record Fiscal Year 2024