PodcastOne, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>PodcastOne, Inc. filed its Q3 FY2024 10-Q report on February 13, 2024.</b>

AI Summary

PodcastOne, Inc. (PODC) filed a Quarterly Report (10-Q) with the SEC on February 13, 2024. PodcastOne, Inc. filed its 10-Q for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. The filing was made on February 13, 2024. PodcastOne, Inc. was formerly known as Courtside Group, Inc.

Why It Matters

For investors and stakeholders tracking PodcastOne, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for PodcastOne, Inc. for the third quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and future prospects in the podcasting industry.

Risk Assessment

Risk Level: low — PodcastOne, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant risk or opportunity.

Analyst Insight

Review the financial statements and management's discussion and analysis within the 10-Q to understand PodcastOne's Q3 FY2024 performance.

Key Numbers

• 2023-12-31 — Period End Date (10-Q filing)
• 2024-02-13 — Filing Date (10-Q filing)
• 20220729 — Date of Name Change (From Courtside Group, Inc. to PodcastOne, Inc.)
• 20220727 — Date of Name Change (From Courtside Group, Inc. to PodcastOne, Inc.)

Key Players & Entities

• PodcastOne, Inc. (company) — Filer and subject of the report
• Courtside Group, Inc. (company) — Former name of PodcastOne, Inc.
• 2023-12-31 (date) — Period of report for the 10-Q
• 2024-02-13 (date) — Filing date of the 10-Q

FAQ

Industry Context

PodcastOne operates in the digital media and podcasting industry, a rapidly growing sector characterized by increasing content creation and advertising spend.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended December 31, 2023.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into performance drivers and trends.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q
• 2024-02-13: Filing Date — Date PodcastOne, Inc. submitted its 10-Q

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, providing the latest quarterly financial information.

Key Financial Figures

• $0.00001 — nge on which registered Common stock, $0.00001 par value per share PODC The NASDAQ Cap

Filing Documents

• podc20231231_10q.htm (10-Q) — 1180KB
• ex_613083.htm (EX-31.1) — 12KB
• ex_613084.htm (EX-31.2) — 12KB
• ex_613085.htm (EX-32.1) — 5KB
• ex_613086.htm (EX-32.2) — 5KB
• 0001437749-24-003801.txt (&nbsp;) — 5385KB
• podc-20231231.xsd (EX-101.SCH) — 48KB
• podc-20231231_cal.xml (EX-101.CAL) — 33KB
• podc-20231231_def.xml (EX-101.DEF) — 348KB
• podc-20231231_lab.xml (EX-101.LAB) — 311KB
• podc-20231231_pre.xml (EX-101.PRE) — 375KB
• podc20231231_10q_htm.xml (XML) — 692KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION F-1 Item 1.

Financial Statements

Financial Statements F-1 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 1 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 16

— OTHER INFORMATION

PART II — OTHER INFORMATION 18 Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 22

Signatures

Signatures 23 i Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Page Condensed Consolidated Balance Sheets as of December 31, 2023 (unaudited) and March 31, 2023 F-2 Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 (unaudited) F-3 Condensed Consolidated Statement of Stockholders ' Equity for the nine months ended December 31, 2023 and 2022 (unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2023 and 2022 (unaudited) F-5 Notes to the Condensed Consolidated Financial Statements (unaudited) F-6 – F-22 F-1 Table of Contents PODCASTONE, INC. Condensed Consolidated Balance Sheets (Unaudited, in thousands, except share and per share amounts) December 31, March 31, 2023 2023 (Unaudited) (Audited) Assets Current Assets Cash and cash equivalents $ 1,405 $ 3,562 Accounts receivable, net 7,816 6,876 Prepaid expense and other current assets 402 1,006 Total Current Assets 9,623 11,444 Property and equipment, net 309 242 Goodwill 12,041 12,041 Intangible assets, net 3,052 732 Related party receivable 2,650 3,768 Total Assets $ 27,675 $ 28,227 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued liabilities $ 7,802 $ 6,898 Bridge loan, net - 7,155 Derivative liabilities - 4,767 Related party payable 3,128 2,288 Total Current Liabilities 10,930 21,108 Other long term liabilities 276 - Total Liabilities 11,206 21,108 Commitments and Contingencies Stockholders' Equity Common stock, $ 0.00001 par value; 200,000,000 shares authorized; 23,122,149 and 20,000,000 shares issued and outstanding as of December 31, 2023 and March 31, 2023, respectively - - Additional paid in capital 45,031 19,785 Accumulated deficit ( 28,562 ) ( 12,666 ) Total stockholders' equity 16,469 7,119 Total Liabilities and Stockholders' Equity $ 27,675 $ 28,227 The accompanying notes a

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View this 10-Q filing on SEC EDGAR