LiveOne (Nasdaq: LVO) Reports Q2 Fiscal 2025 Results
LiveOne (LVO) reported Q2 Fiscal 2025 results with consolidated revenue of $32.6M, up 14% year-over-year. The Audio Division, comprising Slacker Radio and PodcastOne, generated revenue of $31.7M, an 18% increase. Operating loss improved to ($1.4M) from ($2.5M) in Q2 Fiscal 2024. The company maintains its Fiscal 2025 guidance with consolidated revenue of $120M-$135M and Adjusted EBITDA of $8M-$15M. LiveOne increased its ownership in PodcastOne to 72%, acquiring 583,000 PODC shares at an average price of $1.77. The company's paid members grew 27% year-over-year, with total members reaching approximately 4.0 million.
LiveOne (LVO) ha riportato i risultati del secondo trimestre dell'anno fiscale 2025 con un fatturato consolidato di $32,6 milioni, in aumento del 14% rispetto all'anno precedente. La Divisione Audio, che comprende Slacker Radio e PodcastOne, ha generato un fatturato di $31,7 milioni, con un incremento del 18%. La perdita operativa è migliorata a ($1,4 milioni) rispetto a ($2,5 milioni) del secondo trimestre dell'anno fiscale 2024. L'azienda mantiene le previsioni per l'anno fiscale 2025 con un fatturato consolidato compreso tra $120 milioni e $135 milioni e un EBITDA rettificato tra $8 milioni e $15 milioni. LiveOne ha aumentato la sua partecipazione in PodcastOne al 72%, acquisendo 583.000 azioni PODC a un prezzo medio di $1,77. Il numero di membri paganti dell'azienda è cresciuto del 27% rispetto all'anno precedente, raggiungendo un totale di circa 4,0 milioni di membri.
LiveOne (LVO) reportó los resultados del segundo trimestre del año fiscal 2025 con ingresos consolidados de $32.6 millones, un aumento del 14% interanual. La División de Audio, que comprende Slacker Radio y PodcastOne, generó ingresos de $31.7 millones, un incremento del 18%. La pérdida operativa mejoró a ($1.4 millones) desde ($2.5 millones) en el segundo trimestre del año fiscal 2024. La compañía mantiene su guía para el año fiscal 2025, prevé ingresos consolidados de $120 millones a $135 millones y un EBITDA ajustado de $8 millones a $15 millones. LiveOne aumentó su participación en PodcastOne al 72%, adquiriendo 583,000 acciones de PODC a un precio promedio de $1.77. El número de miembros de pago de la empresa creció un 27% interanual, alcanzando aproximadamente 4.0 millones de miembros.
라이브원 (LVO)는 2025 회계연도 2분기 실적을 보고하며, 통합 수익이 $32.6 백만으로 전년 대비 14% 증가했다고 발표했습니다. 슬래커 라디오와 팟캐스트원으로 구성된 오디오 부문은 $31.7 백만의 수익을 창출하며 18% 증가했습니다. 운영 손실은 2024 회계연도 2분기의 ($2.5 백만)에서 ($1.4 백만)으로 개선되었습니다. 회사는 2025 회계연도에 대한 가이드를 유지하며, 통합 수익을 $120 백만에서 $135 백만 사이로, 조정된 EBITDA를 $8 백만에서 $15 백만 사이로 예상하고 있습니다. 라이브원은 팟캐스트원에 대한 지분을 72%로 증가시키며, 평균 가격 $1.77에 583,000 PODC 주식을 인수했습니다. 회사의 유료 회원수는 전년 대비 27% 증가하며 총 회원수가 약 400만명에 달했습니다.
LiveOne (LVO) a annoncé les résultats du deuxième trimestre de l'exercice fiscal 2025 avec des revenus consolidés de $32,6 millions, soit une augmentation de 14 % par rapport à l'année précédente. La division Audio, qui comprend Slacker Radio et PodcastOne, a généré des revenus de $31,7 millions, soit une augmentation de 18 %. La perte d'exploitation s'est améliorée à ($1,4 million) contre ($2,5 millions) au deuxième trimestre de l'exercice fiscal 2024. L'entreprise maintient ses prévisions pour l'exercice fiscal 2025, avec des revenus consolidés de 120 $ millions à 135 $ millions et un EBITDA ajusté de 8 $ millions à 15 $ millions. LiveOne a augmenté sa participation dans PodcastOne à 72 %, en acquérant 583 000 actions PODC à un prix moyen de 1,77 $. Le nombre de membres payants de l'entreprise a augmenté de 27 % par rapport à l'année précédente, atteignant environ 4,0 millions de membres.
LiveOne (LVO) berichtete über die Ergebnisse des 2. Quartals des Geschäftsjahres 2025 mit einem konsolidierten Umsatz von $32,6 Millionen, was einem Anstieg von 14 % im Vergleich zum Vorjahr entspricht. Die Audio-Division, zu der Slacker Radio und PodcastOne gehören, erzielte einen Umsatz von $31,7 Millionen, was einem Anstieg von 18 % entspricht. Der operative Verlust verbesserte sich auf ($1,4 Millionen) von ($2,5 Millionen) im 2. Quartal des Geschäftsjahres 2024. Das Unternehmen hält an seinen Prognosen für das Geschäftsjahr 2025 fest, mit einem konsolidierten Umsatz von $120 Millionen bis $135 Millionen und einem bereinigten EBITDA von $8 Millionen bis $15 Millionen. LiveOne erhöhte seinen Anteil an PodcastOne auf 72 % und erwarb 583.000 PODC-Aktien zu einem Durchschnittspreis von $1,77. Die Anzahl der zahlenden Mitglieder des Unternehmens wuchs um 27 % im Vergleich zum Vorjahr, mit insgesamt etwa 4,0 Millionen Mitgliedern.
- Revenue increased 14% YoY to $32.6M
- Audio Division revenue grew 18% to $31.7M
- Operating loss improved by $1.1M YoY
- Paid members increased 27% YoY
- Increased ownership in PodcastOne to 72%
- Active $12M share buyback program with $6.2M remaining
- Operating loss of $1.4M in Q2 Fiscal 2025
- Net loss of $2.3M for the quarter
- Media Division reported negative Adjusted EBITDA of $0.8M
Insights
LiveOne's Q2 FY2025 results show positive momentum with
The
- Financial Highlights
- Consolidated Q2 Fiscal 2025 Revenue of
$32.6M and YTD Revenue of$65.7M - Adjusted EBITDA* (excluding CPS) of
$3.3M (Q2 Fiscal 2025) and$6.6M (YTD) - Audio Division (Slacker Radio and PodcastOne (Nasdaq: PODC)) Revenue of
$31.7M (Q2 Fiscal 2025, +18% ),$63.3M (YTD, +21% YoY)
- Consolidated Q2 Fiscal 2025 Revenue of
- Fiscal 2025 Guidance
- Maintains Consolidated Revenue of
$120M -$135M - Maintains Adjusted EBITDA* of
$8M – 15M - Maintains Audio Division Revenue of
$110M -$120M - Maintains Audio Division Adjusted EBITDA* of
$12M -$20M
- Maintains Consolidated Revenue of
- Share Repurchase
$12M buyback program reaffirmed- 4.4M shares repurchased (~94M outstanding)
$6.2M remaining in buyback program
- PodcastOne (Nasdaq: PODC)
- LVO increased ownership to
72% of PodcastOne (Nasdaq: PODC) - Acquired 583,000 PODC shares at average price of
$1.77 , including additional 224,000 shares this quarter
- LVO increased ownership to
- Investor Call
- Date: Thursday, November 7, 2024
- Time: 10:00 A.M. ET
- Format: Live conference call and audio webcast
LOS ANGELES, Nov. 07, 2024 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today its operating results for the second fiscal quarter ended September 30, 2024 (“Q2 Fiscal 2025”).
As previously announced with the assistance of J.P. Morgan, LiveOne is continuing a process to explore strategic alternatives to enhance shareholder value. Potential alternatives may include, among others, a strategic acquisition, divestiture, merger, sale or other form of business combination. There can be no assurance that LiveOne’s efforts will result in a specific transaction or any particular outcome or its timing.
Q2 Fiscal 2025 Highlights
- Paid members as of September 30, 2024 increased 645K or
27% , as compared to the prior year. Total members including free ad-supported memberships was approximately 4.0 million at September 30, 2024.** - PodcastOne was 12th in PODTRAC’s Podcast Industry Top Publishers Rankings for September 2024 with a U.S. Unique Monthly Audience of ~5.4M and Global Downloads and Streams of ~16.2M.
Q2 FY25 and Q2 FY24 Results Summary (in
| Three Months Ended | Six Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 32,594 | $ | 28,528 | $ | 65,672 | $ | 56,295 | |||||||
| Operating income (loss) | $ | (1,400 | ) | $ | (2,515 | ) | $ | (2,186 | ) | $ | (2,754 | ) | |||
| Total other income (expense) | $ | (926 | ) | $ | (5,433 | ) | $ | (1,649 | ) | $ | (5,610 | ) | |||
| Net income (loss) | $ | (2,317 | ) | $ | (7,927 | ) | $ | (3,875 | ) | $ | (8,422 | ) | |||
| Adjusted EBITDA* | $ | 2,885 | $ | 2,785 | $ | 5,788 | $ | 4,994 | |||||||
| Net income (loss) per share basic and diluted | ($ | 0.02 | ) | ($ | 0.09 | ) | ($ | 0.04 | ) | ($ | 0.11 | ) | |||
Q2 Fiscal 2025 Results Summary Discussion
For Q2 Fiscal 2025, LiveOne posted revenue of
Q2 Fiscal 2025 Operating Loss was (
Q2 Fiscal 2025 Adjusted EBITDA* improved to
Capital expenditures for Q2 Fiscal 2024 totaled approximately
LiveOne maintains its guidance for its fiscal year ending March 31, 2025 (“Fiscal 2025”) of consolidated revenue of
LiveOne’s senior management will host a live conference call and audio webcast to provide a business update and discuss its operating and financial results beginning at 10:00 a.m. ET / 7:00 a.m. PT on Thursday, November 7, 2024.
Conference Call and Webcast:
WHEN: Thursday, November 7th
TIME: 10:00 AM ET / 7:00 AM PT
DIAL-IN (Toll Free): (800) 715-9871
DIAL IN NUMBER (Local): (646) 307-1963
REPLAY NUMBER: (800) 770-2030
WEBCAST – Both the live webcast and a replay can be accessed on the Investor Relations section of LiveOne's website at Events | LiveOne.
The webcast can also be accessed at: https://events.q4inc.com/attendee/127231561
The timing, price and actual number of shares repurchased under LiveOne’s stock repurchase program, which may include the possibility of buying back shares of common stock of PodcastOne, will be at the discretion of LiveOne's management and will depend on a variety of factors, including stock price, general business and market conditions, and alternative investment opportunities. The repurchase program will continue to be executed consistent with LiveOne's capital allocation strategy, which will continue to prioritize growing LiveOne's business. Under the stock repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, all in compliance with the rules of the U.S. Securities and Exchange Commission and other applicable legal requirements. The repurchase program does not obligate LiveOne to acquire any particular amount of shares, and the program may be suspended or discontinued at any time at LiveOne's discretion. LiveOne will review the stock repurchase program periodically and may authorize adjustment of its terms and size.
About LiveOne
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. LiveOne's subsidiaries include Slacker, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR's OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone. For more investor information, please visit ir.liveone.com.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on its largest OEM customer for a substantial percentage of its revenue; LiveOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne’s ability to continue as a going concern; LiveOne’s ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne’s ability to maintain compliance with certain financial and other covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; LiveOne’s ability to extend and/or refinance its indebtedness and/or repay its indebtedness when due; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne’s ability to pay any amounts due in connection with any such legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2024, and in LiveOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
**Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members. Total number of paid members does not reflect the new terms of LiveOne’s renewed partnership with Tesla, and LiveOne will separately disclose in the future the results of its efforts to convert Tesla drivers (accounted as paid members as of September 30, 2024) who will now be eligible to convert to become direct customers of LiveOne.
* About Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with the accounting principles generally accepted in the United States of America ("GAAP"), we present Contribution Margin (Loss) and Adjusted Earnings Before Interest Tax Depreciation and Amortization ("Adjusted EBITDA"), which are non-GAAP financial measures, as measures of our performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss and or net income (loss) or any other performance measures derived in accordance with GAAP or as an alternative to net cash provided by operating activities or any other measures of our cash flows or liquidity.
We use Contribution Margin (Loss) and Adjusted EBITDA to evaluate the performance of our operating segments. We believe that information about these non-GAAP financial measures assists investors by allowing them to evaluate changes in the operating results of our business separate from non-operational factors that affect operating income (loss) and net income (loss), thus providing insights into both operations and the other factors that affect reported results. Adjusted EBITDA is not calculated or presented in accordance with GAAP. A limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, Adjusted EBITDA should be considered in addition to, and not as a substitute for operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, Adjusted EBITDA as presented herein may not be comparable to similarly titled measures of other companies.
Contribution Margin (Loss) is defined as Revenue less Cost of Sales. Adjusted EBITDA is defined as earnings before interest, other (income) expense, income tax expense, depreciation and amortization and before (a) non-cash GAAP purchase accounting adjustments for certain deferred revenue and costs, (b) legal, accounting and other professional fees directly attributable to acquisition activity, (c) employee severance payments and third party professional fees directly attributable to acquisition or corporate realignment activities, (d) certain non-recurring expenses associated with legal settlements or reserves for legal settlements in the period that pertain to historical matters that existed at acquired companies prior to their purchase date and a one-time minimum guarantee to effectively terminate a live events distribution agreement post COVID-19, and (e) certain stock-based compensation expense. Management does not consider these costs to be indicative of our core operating results.
With respect to projected full fiscal year 2025 Adjusted EBITDA, a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to purchase accounting adjustments, acquisition-related charges and legal settlement reserves excluded from Adjusted EBITDA. We expect that the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
For more information on these non-GAAP financial measures, please see the tables entitled "Reconciliation of Non-GAAP Measure to GAAP Measure" included at the end of this release.
LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
john@liviakis.com
Press Contact:
LiveOne
press@liveone.com
Financial Information
The tables below present financial results for the three and six months ended September 30, 2024 and 2023.
| LiveOne , Inc. Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue: | $ | 32,594 | $ | 28,528 | $ | 65,672 | $ | 56,295 | ||||||||
| Operating expenses: | ||||||||||||||||
| Cost of sales | 24,518 | 20,547 | 49,605 | 39,748 | ||||||||||||
| Sales and marketing | 1,491 | 2,253 | 2,922 | 4,157 | ||||||||||||
| Product development | 1,160 | 1,439 | 2,231 | 2,685 | ||||||||||||
| General and administrative | 6,283 | 6,352 | 11,790 | 11,760 | ||||||||||||
| Impairment of intangible assets | - | - | 176 | - | ||||||||||||
| Amortization of intangible assets | 542 | 452 | 1,134 | 699 | ||||||||||||
| Total operating expenses | 33,994 | 31,043 | 67,858 | 59,049 | ||||||||||||
| Loss from operations | (1,400 | ) | (2,515 | ) | (2,186 | ) | (2,754 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense, net | (808 | ) | (780 | ) | (1,667 | ) | (2,198 | ) | ||||||||
| Other income (expense) | (118 | ) | (4,653 | ) | 18 | (3,412 | ) | |||||||||
| Total other expense, net | (926 | ) | (5,433 | ) | (1,649 | ) | (5,610 | ) | ||||||||
| Loss before provision (benefit) for income taxes | (2,326 | ) | (7,948 | ) | (3,835 | ) | (8,364 | ) | ||||||||
| Provision (benefit) for income taxes | (9 | ) | (21 | ) | 40 | 58 | ||||||||||
| Net loss | (2,317 | ) | (7,927 | ) | (3,875 | ) | (8,422 | ) | ||||||||
| Net loss attributable to non-controlling interest | (458 | ) | (347 | ) | (846 | ) | (347 | ) | ||||||||
| Net loss attributed to LiveOne | $ | (1,859 | ) | $ | (7,580 | ) | $ | (3,029 | ) | $ | (8,075 | ) | ||||
| Net loss per share – basic and diluted | $ | (0.02 | ) | $ | (0.09 | ) | $ | (0.04 | ) | $ | (0.11 | ) | ||||
| Weighted average common shares – basic and diluted | 94,658,182 | 87,222,168 | 94,605,055 | 87,097,201 | ||||||||||||
| LiveOne , Inc. Consolidated Balance Sheets (Unaudited) (In thousands) | ||||||||
| September 30, | March 31, | |||||||
| 2024 | 2024 | |||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 11,053 | $ | 6,987 | ||||
| Restricted cash | 30 | 155 | ||||||
| Accounts receivable, net | 14,079 | 13,205 | ||||||
| Inventories | 1,675 | 2,187 | ||||||
| Prepaid expense and other current assets | 2,138 | 1,801 | ||||||
| Total Current Assets | 28,975 | 24,335 | ||||||
| Property and equipment, net | 3,749 | 3,646 | ||||||
| Goodwill | 23,379 | 23,379 | ||||||
| Intangible assets, net | 10,986 | 12,415 | ||||||
| Other assets | 854 | 88 | ||||||
| Total Assets | $ | 67,943 | $ | 63,863 | ||||
| Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 29,575 | $ | 26,953 | ||||
| Accrued royalties | 13,358 | 10,862 | ||||||
| Notes payable, current portion | 690 | 692 | ||||||
| Deferred revenue | 649 | 728 | ||||||
| Senior secured line of credit | 7,000 | 7,000 | ||||||
| Derivative liabilities | - | 607 | ||||||
| Total Current Liabilities | 51,272 | 46,842 | ||||||
| Notes payable, net | 431 | 771 | ||||||
| Other long-term liabilities | 9,317 | 9,354 | ||||||
| Deferred income taxes | 339 | 339 | ||||||
| Total Liabilities | 61,359 | 57,306 | ||||||
| Commitments and Contingencies | ||||||||
| Mezzanine Equity | ||||||||
| Redeemable convertible preferred stock, | - | 4,962 | ||||||
| Stockholders’ Equity (Deficit) | ||||||||
| Preferred stock, | 13,187 | 18,814 | ||||||
| Common stock, | 95 | 92 | ||||||
| Additional paid in capital | 230,933 | 216,116 | ||||||
| Treasury stock | (250 | ) | (4,782 | ) | ||||
| Accumulated deficit | (248,623 | ) | (238,984 | ) | ||||
| Total LiveOne's Stockholders’ Deficit | (4,658 | ) | (8,744 | ) | ||||
| Non-controlling interest | 11,242 | 10,339 | ||||||
| Total equity (deficit) | 6,584 | 1,595 | ||||||
| Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | $ | 67,943 | $ | 63,863 | ||||
| LiveOne , Inc. Reconciliation of Non-GAAP Measure to GAAP Measure Adjusted EBITDA* Reconciliation (Unaudited) (In thousands) | |||||||||||||||||||||||||
| Non- | |||||||||||||||||||||||||
| Recurring | |||||||||||||||||||||||||
| Net | Depreciation | Acquisition and | Other | (Benefit) | |||||||||||||||||||||
| Income | and | Stock-Based | Realignment | (Income) | Provision | Adjusted | |||||||||||||||||||
| (Loss) | Amortization | Compensation | Costs (1) | Expense (2) | for Taxes | EBITDA* | |||||||||||||||||||
| Three Months Ended September 30, 2024 | |||||||||||||||||||||||||
| Operations – PodcastOne | $ | (1,669 | ) | $ | 394 | $ | 861 | $ | - | $ | - | $ | 11 | $ | (403 | ) | |||||||||
| Operations – Slacker | 3,866 | 743 | 526 | 30 | 642 | - | 5,807 | ||||||||||||||||||
| Operations – Media | (1,687 | ) | 214 | 198 | 404 | 30 | - | (841 | ) | ||||||||||||||||
| Corporate | (2,827 | ) | 2 | 706 | 207 | 254 | (20 | ) | (1,678 | ) | |||||||||||||||
| Total | $ | (2,317 | ) | $ | 1,353 | $ | 2,291 | $ | 641 | $ | 926 | $ | (9 | ) | $ | 2,885 | |||||||||
| Three Months Ended September 30, 2023 | |||||||||||||||||||||||||
| Operations – PodcastOne | $ | (10,873 | ) | $ | 253 | $ | 854 | $ | 413 | $ | 9,447 | $ | - | $ | 94 | ||||||||||
| Operations – Slacker | 2,250 | 694 | 998 | 742 | 354 | - | 5,038 | ||||||||||||||||||
| Operations – Media | 3,168 | 294 | 178 | 107 | (4,308 | ) | - | (561 | ) | ||||||||||||||||
| Corporate | (2,472 | ) | 3 | 686 | 78 | (60 | ) | (21 | ) | (1,786 | ) | ||||||||||||||
| Total | $ | (7,927 | ) | $ | 1,244 | $ | 2,716 | $ | 1,340 | $ | 5,433 | $ | (21 | ) | $ | 2,785 | |||||||||
| Non- | ||||||||||||||||||||||||
| Recurring | ||||||||||||||||||||||||
| Acquisition and | Other | (Benefit) | ||||||||||||||||||||||
| Net Income | Depreciation and | Stock-Based | Realignment | (Income) | Provision | Adjusted | ||||||||||||||||||
| (Loss) | Amortization | Compensation | Costs (1) | Expense (2) | for Taxes | EBITDA* | ||||||||||||||||||
| Six Months Ended September 30, 2024 | ||||||||||||||||||||||||
| Operations – PodcastOne | $ | (3,036 | ) | $ | 1,013 | $ | 1,254 | $ | 38 | $ | - | $ | 11 | $ | (720 | ) | ||||||||
| Operations – Slacker | 7,218 | 1,493 | 1,032 | 176 | 1,313 | - | 11,231 | |||||||||||||||||
| Operations - Media | (3,077 | ) | 431 | 517 | 600 | 60 | - | (1,469 | ) | |||||||||||||||
| Corporate | (4,980 | ) | 3 | 1,188 | 229 | 276 | 29 | (3,254 | ) | |||||||||||||||
| Total | $ | (3,875 | ) | $ | 2,940 | $ | 3,991 | $ | 1,043 | $ | 1,649 | $ | 40 | $ | 5,788 | |||||||||
| Six Months Ended September 30, 2023 | ||||||||||||||||||||||||
| Operations – PodcastOne | $ | (11,083 | ) | $ | 339 | $ | 938 | $ | 719 | $ | 9,850 | $ | - | $ | 763 | |||||||||
| Operations – Slacker | 5,831 | 1,408 | 1,214 | 874 | 102 | - | 9,429 | |||||||||||||||||
| Operations - Media | 2,392 | 543 | 213 | 133 | (4,952 | ) | - | (1,671 | ) | |||||||||||||||
| Corporate | (5,562 | ) | 8 | 1,229 | 130 | 610 | 58 | (3,527 | ) | |||||||||||||||
| Total | $ | (8,422 | ) | $ | 2,298 | $ | 3,594 | $ | 1,856 | $ | 5,610 | $ | 58 | $ | 4,994 | |||||||||
| (1 | ) | Non-Recurring Acquisition and Realignment Costs include non-cash GAAP purchase accounting adjustments for certain deferred revenue and costs, legal, accounting and other professional fees directly attributable to acquisition activity, employee severance payments and third party professional fees directly attributable to acquisition or corporate realignment activities, and certain non-recurring expenses associated with legal settlements or reserves for legal settlements in the period that pertain to historical matters that existed at acquired companies prior to their purchase date |
| (2 | ) | Other (income) expense above primarily includes interest expense and change in fair value of derivative liabilities. These are included in the statement of operations in other income (expense) and are an add back to net loss above in the reconciliation of Adjusted EBITDA* to loss. |
| * | See the definition of Adjusted EBITDA under “About Non-GAAP Financial Measures” within this release. |
| LiveOne , Inc. Reconciliation of Non-GAAP Measure to GAAP Measure Contribution Margin* Reconciliation (Unaudited) (In thousands) | ||||||||
| Three Months Ended | ||||||||
| September 30, | ||||||||
| 2024 | 2023 | |||||||
| Revenue: | $ | 32,594 | $ | 28,528 | ||||
| Less: | ||||||||
| Cost of sales | (24,518 | ) | (20,547 | ) | ||||
| Amortization of developed technology | (691 | ) | (726 | ) | ||||
| Gross Profit | 7,385 | 7,255 | ||||||
| Add back amortization of developed technology: | 691 | 726 | ||||||
| Contribution Margin* | $ | 8,076 | $ | 7,981 | ||||
| Six Months Ended | ||||||||
| September 30, | ||||||||
| 2024 | 2023 | |||||||
| Revenue: | $ | 65,672 | $ | 56,295 | ||||
| Less: | ||||||||
| Cost of sales | (49,605 | ) | (39,748 | ) | ||||
| Amortization of developed technology | (1,466 | ) | (1,473 | ) | ||||
| Gross Profit | 14,601 | 15,074 | ||||||
| Add back amortization of developed technology: | 1,466 | 1,473 | ||||||
| Contribution Margin* | $ | 16,067 | $ | 16,547 | ||||
| * | See the definition of Contribution Margin under “About Non-GAAP Financial Measures” within this release. |
FAQ
What was LiveOne's (LVO) revenue in Q2 Fiscal 2025?
How many paid members does LiveOne (LVO) have as of September 2024?
What is LiveOne's (LVO) revenue guidance for Fiscal 2025?
How much ownership does LiveOne (LVO) have in PodcastOne?
