LiveOne Subsidiary PodcastOne (Courtside Group) Raises Proforma Revenue Guidance To $47M-$51M With Operating Adjusted EBITDA Of $4M-$5M; For Its Fiscal Year Ending March 31, 2024; PodcastOne Delivered Revenue Of $10.6M In Q1 FY24 Ended June 30, 2023
Portfolio Pulse from Benzinga Newsdesk
LiveOne's subsidiary PodcastOne has raised its proforma revenue guidance to $47M-$51M with an operating adjusted EBITDA of $4M-$5M for its fiscal year ending March 31, 2024. PodcastOne delivered a record revenue of $10.6M in Q1 FY24. The company will begin trading on Nasdaq under the ticker 'PODC' at a minimum of $8 per share. After the spin-out, LiveOne will own approximately 80% of PodcastOne.
September 08, 2023 | 3:01 pm
News sentiment analysis
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POSITIVE IMPACT
LiveOne will own approximately 80% of PodcastOne after the spin-out, which could potentially increase its value.
The news of LiveOne owning a significant majority of PodcastOne after the spin-out could potentially increase its value as investors may see this as a positive move.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
PodcastOne has raised its revenue guidance and will begin trading on Nasdaq, which could attract investors and potentially increase its stock price.
The news of PodcastOne raising its revenue guidance and beginning to trade on Nasdaq could attract investors, potentially leading to an increase in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100