PodcastOne, Inc., a leading company in computer programming and data processing services, recently held its 2024 Annual Meeting of Stockholders on September 12. Shareholders voted on key proposals, including the election of directors and the appointment of an independent registered public accounting firm.
During the Annual Meeting, all eight nominees were elected to PodcastOne's Board of Directors. The elected directors received a significant number of votes, ranging from 18,444,890 to 18,794,509 votes.
Shareholders also ratified the appointment of Macias Gini & O'Connell, LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2025. Additionally, a proposal allowing the adjournment of the Annual Meeting if necessary was approved.
PodcastOne, formerly known as Courtside Group, Inc., anticipates a record revenue of $13 million in its preliminary Q1 results, marking a 21% increase from the previous year. The company has also seen growth in its rankings and audience reach.
With the addition of Jon Merriman to its Board of Directors and a strategic partnership with a Fortune 250 company, PodcastOne projects strong financial performance, aiming for revenues between $50M and $55M for the fiscal year ending March 31, 2025.
InvestingPro Insights:
Recent data shows that PodcastOne holds more cash than debt, indicating financial stability. While the company has struggled with gross profit margins, its liquid assets exceed short-term obligations. Analysts predict profitability this year, signaling a potential turnaround.
PodcastOne's market capitalization is $40.11 million, with a strong return over the last month. Despite not paying dividends, the company's growth prospects are worth considering for investors seeking long-term gains.
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