PodcastOne, Inc. reported a significant increase in revenue for the third quarter of fiscal 2025, with total revenue reaching $12.7 million, up 22% from $10.4 million in the same period last year. For the nine months ending December 31, 2024, revenue also grew by 20% to $38.0 million compared to $31.6 million for the same period in 2023. The growth in revenue was primarily attributed to an increase in barter revenue and advertising inventory, reflecting the company's expanding market presence and listener engagement.
Despite the revenue growth, PodcastOne experienced a net loss of $1.6 million for the quarter, an improvement from a loss of $2.6 million in the prior year. For the nine-month period, the net loss was $4.6 million, significantly reduced from $13.7 million in the previous year. The company’s operating expenses increased to $14.3 million for the quarter, up from $13.0 million, driven by higher costs associated with sales and marketing, which rose by 22% to $0.9 million. However, general and administrative expenses decreased by 51% to $1.3 million, contributing to the overall reduction in net loss.
In terms of operational developments, PodcastOne expanded its programming slate to 194 shows and surpassed 3.8 billion network downloads. The company also entered into a significant agreement with ART19, a subsidiary of Amazon, which is expected to generate over $25 million in revenue for the 2025 calendar year. Additionally, PodcastOne was ranked #8 on Podtrac's list of Top Podcast Publishers in December 2024, highlighting its competitive position in the podcasting industry.
The company continues to face challenges, including an accumulated deficit of $34.2 million and a working capital of $1.0 million as of December 31, 2024. PodcastOne is actively seeking additional financing to support its operations and growth initiatives. The management has expressed concerns regarding its ability to continue as a going concern without securing further funding. The company’s future performance will depend on its ability to increase revenue, manage costs effectively, and secure adequate financing to support its business operations.
Looking ahead, PodcastOne aims to enhance its market share and operational efficiency while navigating the complexities of the podcasting landscape. The company is focused on expanding its content offerings and exploring strategic acquisitions to bolster its growth trajectory. However, the management acknowledges the inherent risks associated with its business model and the need for continued investment in technology and marketing to maintain its competitive edge.
About PodcastOne, Inc.
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