Revenue growth of 24.8% in 2025Q3 is offset by structural margin volatility, with gross margins fluctuating between a low of 4.7% and a high of 15.4% over the last ten quarters.
| Sales/Revenue | 60.1M | 52.12M | 43.3M | 34.65M | 32.35M | 23.84M |
| Revenue Growth % | 20.86% | 20.36% | 24.99% | 7.1% | 35.69% | - |
| Cost of Goods Sold | 53.19M | 48.59M | 37.33M | 27.58M | 26.27M | 18.28M |
| COGS % of Revenue | - | 93.23% | 86.2% | 79.6% | 81.21% | 76.67% |
| Gross Profit | 6.91M | 3.53M | 5.98M | 7.07M | 6.08M | 5.56M |
| Gross Margin % | 11.5% | 6.77% | 13.8% | 20.4% | 18.79% | 23.33% |
| Gross Profit Growth % | - | -40.91% | -15.43% | 16.27% | 9.28% | - |
| Operating Expenses | 10.93M | 9.63M | 10.99M | 8.9M | 10.78M | 8.8M |
| OpEx % of Revenue | - | 18.48% | 25.37% | 25.69% | 33.32% | 36.9% |
| Selling, General & Admin | 10.34M | 9.68M | 10.01M | 8.49M | 10.03M | 7.71M |
| SG&A % of Revenue | - | 18.58% | 23.11% | 24.51% | 30.99% | 32.32% |
| Research & Development | 44K | 52K | 85K | 312K | 251K | 644K |
| R&D % of Revenue | - | 0.1% | 0.2% | 0.9% | 0.78% | 2.7% |
| Other Operating Expenses | 542K | -105K | 896K | 99K | 502K | 448K |
| Operating Income | -4.01M | -6.1M | -5.01M | -1.83M | -4.7M | -3.24M |
| Operating Margin % | -6.67% | -11.7% | -11.57% | -5.3% | -14.54% | -13.57% |
| Operating Income Growth % | - | -21.73% | -173.08% | 60.97% | -45.3% | - |
| EBITDA | -3.05M | -4.76M | -3.86M | -1.51M | -4.07M | -2.65M |
| EBITDA Margin % | -5.07% | -9.13% | -8.92% | -4.36% | -12.58% | -11.12% |
| EBITDA Growth % | 29.44% | -23.25% | -155.49% | 62.83% | -53.51% | - |
| D&A (Non-Cash Add-back) | 961K | 1.34M | 1.15M | 323K | 634K | 586K |
| EBIT | -4.01M | -6.43M | -12.43M | -2.29M | -3.6M | -3.24M |
| Net Interest Income | 0 | 0 | -2.25M | -4.67M | -5K | -5K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 2.25M | 4.67M | 5K | 5K |
| Other Income/Expense | -1K | -334K | -9.67M | -5.13M | 1.1M | -28K |
| Pretax Income | -4.01M | -6.43M | -14.68M | -6.97M | -3.6M | -3.26M |
| Pretax Margin % | -6.67% | -12.34% | -33.89% | -20.11% | -11.14% | -13.69% |
| Income Tax | 12K | 24K | 55K | 0 | 0 | 0 |
| Effective Tax Rate % | -0.3% | -0.37% | -0.37% | 0% | 0% | 0% |
| Net Income | -4.02M | -6.46M | -14.73M | -6.97M | -3.6M | -3.26M |
| Net Margin % | -6.69% | -12.39% | -34.02% | -20.11% | -11.14% | -13.69% |
| Net Income Growth % | 29.01% | 56.16% | -111.45% | -93.31% | -10.42% | - |
| Net Income (Continuing) | -4.02M | -6.46M | -14.73M | -6.97M | -3.6M | -3.26M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.15 | -0.26 | -0.68 | -0.06 | -0.02 | -0.02 |
| EPS Growth % | 37.4% | 61.76% | -981.08% | -157.79% | -10.41% | - |
| EPS (Basic) | - | -0.26 | -0.68 | -0.06 | -0.02 | -0.02 |
| Diluted Shares Outstanding | 26.9M | 24.38M | 21.77M | 110.82M | 147.98M | 147.98M |
| Basic Shares Outstanding | 26.9M | 24.38M | 21.77M | 110.82M | 147.99M | 147.99M |
| Dividend Payout Ratio | - | - | - | - | - | - |
High talent payout obligations
According to recent quarterly filings, PodcastOne achieved a 24.8% year-over-year revenue increase in 2025Q3, demonstrating consistent top-line expansion that appears to be driven by volume growth in its podcast network, though this momentum has yet to translate into a sustainable path toward positive net income generation.
The consistent double-digit revenue growth suggests that the company is successfully scaling its audience reach and ad inventory. However, investors should monitor whether this growth is organic or reliant on expensive talent acquisitions that may ultimately dilute the long-term value of the platform.
As reported in financial statements, the company's gross margin fluctuated between 4.7% and 15.4% over the last ten quarters, highlighting a structural sensitivity to the high revenue-share obligations owed to creators that effectively constrain the firm's ability to retain a larger portion of its advertising revenue.
The variability in gross margins suggests that the company lacks significant pricing power and remains highly susceptible to the competitive bidding environment for premium podcast talent. This thin margin profile implies that any minor increase in creator compensation could rapidly erode the company's already narrow gross profitability.
Based on the provided income statement data, operating expenses continue to track closely with gross profit, resulting in persistent operating losses that suggest the company has not yet achieved the necessary scale to leverage its fixed overhead against its growing, yet high-cost, revenue base.
The inability to scale operating income faster than gross profit indicates that the current business model is heavily dependent on variable costs rather than fixed-cost efficiencies. This warrants further investigation into whether the company's SG&A structure can be optimized or if it is inherently tied to the high-touch management required for its talent roster.
While top-line growth remains robust, the company's reliance on personality-driven content creates a significant risk, as evidenced by the high variable costs that keep net margins negative and leave the firm with limited financial flexibility to navigate potential downturns in the digital advertising market.
Short-sellers may focus on the company's inability to convert revenue growth into positive cash flow, which appears to be a structural issue rather than a temporary operational hurdle. The reliance on individual talent contracts suggests that the company's competitive moat is fragile and potentially unsustainable without a shift toward owned-and-operated intellectual property.
Quick answers to the most common questions about buying PODC stock.
For fiscal year 2024, PodcastOne, Inc. (PODC) reported total revenue of $52.1M. This represents a 118.6% increase compared to $23.8M in 2020.
PodcastOne, Inc. (PODC) reported a net loss of $6.5M for the fiscal year ending 2024.
PodcastOne, Inc. (PODC) reported an operating income of $-6.1M, resulting in an operating profit margin of -11.7%. This margin reflects the operational efficiency of the business before interest and taxes.
PodcastOne, Inc. (PODC) generated $3.5M in gross profit for the year, representing a gross profit margin of 6.8%. This demonstrates the company's core pricing power and production efficiency.