A company insider, Director Merriman D Jonathan, purchased 2,980 shares of PodcastOne, Inc. (NASDAQ: PODC) common stock on March 23, 2026, a transaction disclosed in a Form 4 filing with the Securities and Exchange Commission. The shares were acquired at $2.35 apiece, bringing the total value of the purchase to $7,003.
Following the purchase, Merriman directly holds 216,452 shares of PodcastOne common stock. In addition to those directly held shares, Merriman indirectly owns 5,200 shares in a custodial account and 292,532 shares through the D. Jonathan and Odile Merriman Family Trust.
At the time of the filing, PodcastOne's stock has returned 66% over the past year and is trading at $2.31, giving the company a market capitalization of $64.64 million.
PodcastOne recently released its fiscal third-quarter results for 2026, recording a company high in quarterly revenue of $15.9 million, a figure described as exceeding expectations. Despite the revenue milestone, the firm reported earnings per share of -$0.01, missing the forecasted $0.04.
Following the sale of original intellectual property to a Fortune 250 streaming partner, PodcastOne raised its full-year fiscal 2026 outlook. The company now expects annual revenue in the range of $60 million to $62 million, with Adjusted EBITDA projected between $5.5 million and $6.5 million for the fiscal year.
On the distribution and sales front, PodcastOne extended its agreement with A+E Networks for exclusive sales and distribution rights to five podcasts, among them Cold Case Files and Ancient Aliens. The agreement, which originated in 2017, has been associated with more than 200 million combined downloads across the included shows.
Separately, InvestingPro analysis indicates the stock appears undervalued at current levels. InvestingPro also maintains a Pro Research Report covering PODC alongside more than 1,400 other U.S. equities for subscribers seeking additional analysis.
Summary
- Director Merriman purchased 2,980 shares at $2.35 on March 23, 2026; total cost $7,003, disclosed in a Form 4 filing.
- Post-transaction direct ownership is 216,452 shares; additional indirect holdings include 5,200 custodial shares and 292,532 shares in a family trust.
- PodcastOne reported record Q3 revenue of $15.9 million but missed EPS estimates; the company raised full-year guidance after selling original IP and extended its A+E Networks partnership.
Key points
- Insider buying - A director acquired shares, increasing direct holdings, which may be interpreted as a personal investment decision by the insider.
- Revenue and guidance - PodcastOne posted record quarterly revenue and lifted full-year revenue and Adjusted EBITDA guidance after monetizing original content.
- Distribution and partnerships - The extension with A+E Networks and the IP sale to a large streaming partner highlight ongoing strategic commercial relationships within the media and streaming sectors.
Risks and uncertainties
- Profitability pressure - Despite record revenue, the company reported negative EPS for the quarter, indicating continued earnings challenges in the near term; this affects investors focused on profitability.
- Market valuation - Although InvestingPro analysis characterizes the stock as appearing undervalued, market pricing and volatility remain uncertain, particularly given the company's small market capitalization.
- Reliance on partnerships - Revenue and distribution gains tied to agreements and the sale of intellectual property introduce execution and counterparty risks within media, streaming, and advertising markets.