LiveOne (Nasdaq: LVO) Reports Record 9-Month Revenues of $95.1M
LiveOne (LVO) reported financial results for Q3 Fiscal 2025, with record 9-month revenues of $95.1M. The Audio Division achieved record revenue of $90.6M, up 13% YoY, with Q3 revenue at $27.1M. The company maintains $10.9M in cash as of December 31, 2024, and has implemented cost savings of $11M through restructurings.
Key highlights include 800K Tesla subscribers (475K+ ad-supported), $44M in contracted revenue and B2B deals, and a $12M buyback program with $6.2M remaining. LiveOne owns ~72% of PodcastOne (PODC) and acquired 342,000 PODC shares this quarter at an average price of $2.37.
However, Q3 Fiscal 2025 showed some challenges with revenue decreasing 6% to $29.4M compared to $31.2M in the prior year. Operating loss increased to $5.1M from $0.8M in Q3 Fiscal 2024. The company updated its FY2025 guidance to consolidated revenue of $112M-$120M and Adjusted EBITDA of $6M-$10M.
LiveOne (LVO) ha riportato i risultati finanziari per il terzo trimestre dell'esercizio fiscale 2025, con ricavi record di 9 mesi pari a 95,1 milioni di dollari. La Divisione Audio ha raggiunto un fatturato record di 90,6 milioni di dollari, in aumento del 13% rispetto all'anno precedente, con un fatturato nel Q3 di 27,1 milioni di dollari. L'azienda mantiene 10,9 milioni di dollari in contante al 31 dicembre 2024 e ha implementato risparmi sui costi di 11 milioni di dollari attraverso ristrutturazioni.
I punti salienti includono 800.000 abbonati Tesla (oltre 475.000 supportati da pubblicità), 44 milioni di dollari in ricavi contrattati e accordi B2B, e un programma di riacquisto di 12 milioni di dollari con 6,2 milioni di dollari rimanenti. LiveOne possiede circa il 72% di PodcastOne (PODC) e ha acquisito 342.000 azioni PODC questo trimestre a un prezzo medio di 2,37 dollari.
Tuttavia, il terzo trimestre dell'esercizio fiscale 2025 ha mostrato alcune sfide, con un fatturato in calo del 6%, scendendo a 29,4 milioni di dollari rispetto ai 31,2 milioni di dollari dell'anno precedente. La perdita operativa è aumentata a 5,1 milioni di dollari rispetto a 0,8 milioni di dollari nel Q3 dell'esercizio fiscale 2024. L'azienda ha aggiornato le previsioni per l'anno fiscale 2025 a ricavi consolidati di 112 milioni - 120 milioni di dollari e un EBITDA rettificato di 6 milioni - 10 milioni di dollari.
LiveOne (LVO) reportó resultados financieros para el tercer trimestre del año fiscal 2025, con ingresos récord de 95,1 millones de dólares en 9 meses. La División de Audio alcanzó ingresos récord de 90,6 millones de dólares, un aumento del 13% en comparación con el año anterior, con ingresos en el Q3 de 27,1 millones de dólares. La empresa mantiene 10,9 millones de dólares en efectivo al 31 de diciembre de 2024 y ha implementado ahorros de costos de 11 millones de dólares a través de reestructuraciones.
Los aspectos destacados incluyen 800,000 suscriptores de Tesla (más de 475,000 con soporte publicitario), 44 millones de dólares en ingresos contratados y acuerdos B2B, y un programa de recompra de 12 millones de dólares con 6,2 millones de dólares restantes. LiveOne posee aproximadamente el 72% de PodcastOne (PODC) y adquirió 342,000 acciones de PODC este trimestre a un precio promedio de 2,37 dólares.
Sin embargo, el tercer trimestre del año fiscal 2025 mostró algunos desafíos, con ingresos disminuyendo un 6%, cayendo a 29,4 millones de dólares en comparación con los 31,2 millones de dólares del año anterior. La pérdida operativa aumentó a 5,1 millones de dólares desde 0,8 millones de dólares en el Q3 del año fiscal 2024. La empresa actualizó su guía para el año fiscal 2025 a ingresos consolidados de 112 millones - 120 millones de dólares y un EBITDA ajustado de 6 millones - 10 millones de dólares.
LiveOne (LVO)는 2025 회계연도 3분기 재무 결과를 보고하며, 9개월 동안 9,510만 달러의 기록적인 수익을 달성했습니다. 오디오 부문은 9,060만 달러의 기록적인 수익을 올렸으며, 이는 지난해 대비 13% 증가한 수치로, 3분기 수익은 2,710만 달러에 달합니다. 회사는 2024년 12월 31일 기준으로 1,090만 달러의 현금을 보유하고 있으며, 재구성을 통해 1,100만 달러의 비용 절감을 구현했습니다.
주요 사항으로는 80만 명의 테슬라 구독자(475,000명 이상이 광고 지원)를 포함하여, 4,400만 달러의 계약 수익 및 B2B 거래, 1,200만 달러의 자사주 매입 프로그램이 있으며, 남은 금액은 620만 달러입니다. LiveOne은 PodcastOne (PODC)의 약 72%를 소유하고 있으며, 이번 분기에 평균 2.37달러로 342,000 PODC 주식을 인수했습니다.
그러나 2025 회계연도 3분기는 수익이 지난해 3,120만 달러에서 2,940만 달러로 6% 감소하는 등 몇 가지 도전 과제가 있었습니다. 운영 손실은 2024 회계연도 3분기의 80만 달러에서 510만 달러로 증가했습니다. 회사는 2025 회계연도의 가이드를 1억 1,200만 - 1억 2,000만 달러의 통합 수익과 600만 - 1,000만 달러의 조정된 EBITDA로 업데이트했습니다.
LiveOne (LVO) a annoncé les résultats financiers pour le troisième trimestre de l'exercice fiscal 2025, avec des revenus record de 95,1 millions de dollars sur 9 mois. La division Audio a réalisé un chiffre d'affaires record de 90,6 millions de dollars, en hausse de 13 % par rapport à l'année précédente, avec un chiffre d'affaires au T3 de 27,1 millions de dollars. L'entreprise maintient 10,9 millions de dollars en liquidités au 31 décembre 2024 et a mis en œuvre des économies de coûts de 11 millions de dollars grâce à des restructurations.
Les points clés incluent 800 000 abonnés Tesla (plus de 475 000 soutenus par la publicité), 44 millions de dollars de revenus contractés et des accords B2B, ainsi qu'un programme de rachat de 12 millions de dollars avec 6,2 millions de dollars restants. LiveOne possède environ 72 % de PodcastOne (PODC) et a acquis 342 000 actions PODC ce trimestre à un prix moyen de 2,37 dollars.
Cependant, le troisième trimestre de l'exercice fiscal 2025 a montré quelques défis, avec des revenus en baisse de 6 % à 29,4 millions de dollars par rapport à 31,2 millions de dollars l'année précédente. La perte d'exploitation a augmenté à 5,1 millions de dollars contre 0,8 million de dollars au T3 de l'exercice fiscal 2024. L'entreprise a mis à jour ses prévisions pour l'exercice fiscal 2025 à des revenus consolidés de 112 millions à 120 millions de dollars et un EBITDA ajusté de 6 millions à 10 millions de dollars.
LiveOne (LVO) hat die finanziellen Ergebnisse für das dritte Quartal des Geschäftsjahres 2025 veröffentlicht, mit Rekordumsätzen von 95,1 Millionen Dollar in 9 Monaten. Die Audio-Abteilung erzielte einen Rekordumsatz von 90,6 Millionen Dollar, was einem Anstieg von 13 % im Vergleich zum Vorjahr entspricht, mit einem Umsatz im Q3 von 27,1 Millionen Dollar. Das Unternehmen hält zum 31. Dezember 2024 10,9 Millionen Dollar in bar und hat Kosteneinsparungen von 11 Millionen Dollar durch Umstrukturierungen umgesetzt.
Zu den wichtigsten Höhepunkten gehören 800.000 Tesla-Abonnenten (über 475.000, die werbefinanziert sind), 44 Millionen Dollar an vertraglichen Einnahmen und B2B-Deals sowie ein Rückkaufprogramm von 12 Millionen Dollar mit noch verbleibenden 6,2 Millionen Dollar. LiveOne besitzt etwa 72 % von PodcastOne (PODC) und hat in diesem Quartal 342.000 PODC-Aktien zu einem Durchschnittspreis von 2,37 Dollar erworben.
Das dritte Quartal des Geschäftsjahres 2025 zeigte jedoch einige Herausforderungen, da die Einnahmen um 6 % auf 29,4 Millionen Dollar im Vergleich zu 31,2 Millionen Dollar im Vorjahr zurückgingen. Der operative Verlust stieg auf 5,1 Millionen Dollar von 0,8 Millionen Dollar im Q3 des Geschäftsjahres 2024. Das Unternehmen hat seine Prognose für das Geschäftsjahr 2025 auf konsolidierte Einnahmen von 112 Millionen bis 120 Millionen Dollar und ein bereinigtes EBITDA von 6 Millionen bis 10 Millionen Dollar aktualisiert.
- Record 9-month revenues of $95.1M
- Audio Division revenue up 13% YoY to $90.6M
- $44M in contracted revenue and B2B deals
- Significant Tesla subscriber base of 800K users
- Cost savings of $11M achieved through restructuring
- Q3 revenue decreased 6% YoY to $29.4M
- Operating loss increased to $5.1M from $0.8M YoY
- Q3 Adjusted EBITDA declined to $1.5M from $3.3M YoY
Insights
A detailed examination of LiveOne's Q3 FY2025 results reveals several key strategic developments beneath the headline numbers. The company's transformation is evident in three critical areas:
Revenue Composition Shift: While total revenue declined 6% YoY to
Tesla Partnership Evolution: The 800,000 Tesla subscribers, including 475,000+ ad-supported users, represent a significant monetization opportunity. The
Strategic Capital Allocation: With
The Audio Division's
- Financial Highlights
- Audio Division Record Revenue:
$90.6M , +13% YoY; Q3 Fiscal 2025 Revenue:$27.1M - Audio Division YTD Adjusted EBITDA*:
$14.1M ; Q3 Fiscal 2025:$3.6M - Additional
$44M in Contracted Revenue and B2B Deals - Closed 5 B2B Deals, Expects to Close 2+ by Year-End, with 70+ in Pipeline
- 800K Tesla Subscribers, Including 475K+ Ad-Supported, Added 100k+ Following Presentation at Trump's Mar-a-Lago
- Cash:
$10.9M as of Dec. 31, 2024 - Cost Savings via Restructurings:
$11M $12M Buyback Program Reaffirmed, with$6.2M Remaining
- Audio Division Record Revenue:
- PodcastOne (Nasdaq: PODC)
- LVO Owns ~
72% of PodcastOne (Nasdaq: PODC) - Acquired 342,000 PODC Shares this Quarter, Totaling 925,000 PODC Shares to Date at an Average Price of
$2.37
- LVO Owns ~
- Investor Call
- Date: Friday, February 14, 2025
- Time: 10:00 A.M. ET/7:00 A.M. PT
- Format: Live Conference Call and Audio Webcast
LOS ANGELES, Feb. 13, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today its operating results for the third fiscal quarter ended December 31, 2024 (“Q3 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.
Q3 Fiscal 2025 Highlights
- In January 2025, total paid and monthly active ad-supported users exceeded 800k.**
- Direct-billed Premium subscribers have increase by
78% and overall direct-billed subscribers have increased by130% since October 2024, when LiveOne announced new conversion program with Tesla.**
PodcastOne was ranked in the Top 10 in PODTRAC’s Podcast Industry Top Publishers Rankings for January 2025 with a U.S. Unique Monthly Audience of ~5.2M and Global Downloads and Streams of ~16.2M.
Q3 FY25 and Q3 FY24 Results Summary (in
| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 29,445 | $ | 31,245 | $ | 95,117 | $ | 87,541 | |||||||
| Operating income (loss) | $ | (5,113 | ) | $ | (753 | ) | $ | (7,299 | ) | $ | (3,507 | ) | |||
| Total other income (expense) | $ | (510 | ) | $ | (1,486 | ) | $ | (2,159 | ) | $ | (7,116 | ) | |||
| Net income (loss) | $ | (5,623 | ) | $ | (2,224 | ) | $ | (9,458 | ) | $ | (10,666 | ) | |||
| Adjusted EBITDA* | $ | 1,541 | $ | 3,313 | $ | 7,328 | $ | 8,192 | |||||||
| Net income (loss) per share basic and diluted | ( | ( | ( | ( | |||||||||||
Q3 Fiscal 2025 Results Summary Discussion
For Q3 Fiscal 2025, LiveOne posted revenue of
Q3 Fiscal 2025 Operating Loss was (
Q3 Fiscal 2025 Adjusted EBITDA* was
Capital expenditures for Q3 Fiscal 2025 totaled approximately
LiveOne updates its guidance for its fiscal year ending March 31, 2025 (“Fiscal 2025”) to 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 Friday, February 14, 2025.
Conference Call and Webcast:
WHEN: Friday, February 14th
TIME: 10:00 AM ET / 7:00 AM PT
DIAL-IN (Toll Free): (800) 715-9871
DIAL IN NUMBER (USA / International Toll): (646) 307-1963
Canada (Toronto): (647) 932-3411
Canada (Toll-Free): (800) 715-9871
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/777173371
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, Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with SEC on November 14, 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 December 31, 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 nine 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 | Nine Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue: | $ | 29,445 | $ | 31,245 | $ | 95,117 | $ | 87,541 | ||||||||
| Operating expenses: | ||||||||||||||||
| Cost of sales | 22,292 | 23,267 | 71,897 | 63,015 | ||||||||||||
| Sales and marketing | 1,763 | 1,514 | 4,685 | 5,671 | ||||||||||||
| Product development | 1,115 | 694 | 3,346 | 3,379 | ||||||||||||
| General and administrative | 5,241 | 5,880 | 17,031 | 17,641 | ||||||||||||
| Impairment of intangible assets | 3,807 | 115 | 3,983 | 115 | ||||||||||||
| Amortization of intangible assets | 340 | 528 | 1,474 | 1,227 | ||||||||||||
| Total operating expenses | 34,558 | 31,998 | 102,416 | 91,048 | ||||||||||||
| Loss from operations | (5,113 | ) | (753 | ) | (7,299 | ) | (3,507 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense, net | (544 | ) | (1,279 | ) | (2,211 | ) | (3,477 | ) | ||||||||
| Other income (expense) | 34 | (207 | ) | 52 | (3,639 | ) | ||||||||||
| Total other expense, net | (510 | ) | (1,486 | ) | (2,159 | ) | (7,116 | ) | ||||||||
| Loss before provision (benefit) for income taxes | (5,623 | ) | (2,239 | ) | (9,458 | ) | (10,623 | ) | ||||||||
| Provision (benefit) for income taxes | 15 | (15 | ) | 55 | 43 | |||||||||||
| Net loss | (5,638 | ) | (2,224 | ) | (9,458 | ) | (10,666 | ) | ||||||||
| Net loss attributable to non-controlling interest | (405 | ) | (650 | ) | (1,252 | ) | (997 | ) | ||||||||
| Net loss attributed to LiveOne | $ | (5,233 | ) | $ | (1,574 | ) | $ | (8,261 | ) | $ | (9,669 | ) | ||||
| Net loss per share – basic and diluted | $ | (0.06 | ) | $ | (0.03 | ) | $ | (0.10 | ) | $ | (0.13 | ) | ||||
| Weighted average common shares – basic and diluted | 95,501,753 | 87,882,364 | 94,858,531 | 87,477,623 | ||||||||||||
| LiveOne , Inc. | ||||||||
| Consolidated Balance Sheets (Unaudited) | ||||||||
| (In thousands) | ||||||||
| December 31, | March 31, | |||||||
| 2024 | 2024 | |||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 10,854 | $ | 6,987 | ||||
| Restricted cash | 30 | 155 | ||||||
| Accounts receivable, net | 8,783 | 13,205 | ||||||
| Inventories | 1,634 | 2,187 | ||||||
| Prepaid expense and other current assets | 1,478 | 1,801 | ||||||
| Total Current Assets | 22,779 | 24,335 | ||||||
| Property and equipment, net | 3,755 | 3,646 | ||||||
| Goodwill | 23,379 | 23,379 | ||||||
| Intangible assets, net | 6,192 | 12,415 | ||||||
| Other assets | 111 | 88 | ||||||
| Total Assets | $ | 56,216 | $ | 63,863 | ||||
| Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 24,941 | $ | 26,953 | ||||
| Accrued royalties | 8,353 | 10,862 | ||||||
| Notes payable, current portion | 689 | 692 | ||||||
| Deferred revenue | 2,616 | 728 | ||||||
| Senior secured line of credit | 4,250 | 7,000 | ||||||
| Derivative liabilities | - | 607 | ||||||
| Total Current Liabilities | 40,849 | 46,842 | ||||||
| Notes payable, net | 261 | 771 | ||||||
| Other long-term liabilities | 13,638 | 9,354 | ||||||
| Deferred income taxes | 339 | 339 | ||||||
| Total Liabilities | 55,087 | 57,306 | ||||||
| Commitments and Contingencies | ||||||||
| Mezzanine Equity | ||||||||
| Redeemable convertible preferred stock, | - | 4,962 | ||||||
| Stockholders’ Equity (Deficit) | ||||||||
| Preferred stock, | 13,588 | 18,814 | ||||||
| Common stock, | 96 | 92 | ||||||
| Additional paid in capital | 232,380 | 216,116 | ||||||
| Treasury stock | (250 | ) | (4,782 | ) | ||||
| Accumulated deficit | (254,257 | ) | (238,984 | ) | ||||
| Total LiveOne's Stockholders’ Deficit | (8,443 | ) | (8,744 | ) | ||||
| Non-controlling interest | 9,572 | 10,339 | ||||||
| Total equity (deficit) | 1,129 | 1,595 | ||||||
| Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | $ | 56,216 | $ | 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 December 31, 2024 | ||||||||||||||||||||||||||||
| Operations – PodcastOne | $ | (1,583 | ) | $ | 188 | $ | 718 | $ | 6 | $ | - | $ | 1 | $ | (670 | ) | ||||||||||||
| Operations – Slacker | (862 | ) | 4,621 | 228 | 23 | 262 | - | 4,272 | ||||||||||||||||||||
| Operations – Other | (995 | ) | 197 | 222 | 21 | 29 | - | (526 | ) | |||||||||||||||||||
| Corporate | (2,198 | ) | 1 | 207 | 222 | 219 | 14 | (1,535 | ) | |||||||||||||||||||
| Total | $ | (5,638 | ) | $ | 5,007 | $ | 1,375 | $ | 272 | $ | 510 | $ | 15 | $ | 1,541 | |||||||||||||
| Three Months Ended December 31, 2023 | ||||||||||||||||||||||||||||
| Operations – PodcastOne | $ | (2,600 | ) | $ | 372 | $ | 1,786 | $ | 86 | $ | - | $ | - | $ | (356 | ) | ||||||||||||
| Operations – Slacker | 5,127 | 749 | (178 | ) | 116 | 972 | - | 6,786 | ||||||||||||||||||||
| Operations – Other | (3,148 | ) | 361 | 266 | 129 | 26 | - | (2,366 | ) | |||||||||||||||||||
| Corporate | (1,603 | ) | 3 | 381 | (5 | ) | 488 | (15 | ) | (751 | ) | |||||||||||||||||
| Total | $ | (2,224 | ) | $ | 1,485 | $ | 2,255 | $ | 326 | $ | 1,486 | $ | (15 | ) | $ | 3,313 | ||||||||||||
| 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* | ||||||||||||||||||||||
| Nine Months Ended December 31, 2024 | ||||||||||||||||||||||||||||
| Operations – PodcastOne | $ | (4,618 | ) | $ | 1,201 | $ | 1,972 | $ | 44 | $ | - | $ | 12 | $ | (1,389 | ) | ||||||||||||
| Operations – Slacker | 6,356 | 6,114 | 1,260 | 199 | 1,575 | - | 15,504 | |||||||||||||||||||||
| Operations - Other | (4,072 | ) | 628 | 739 | 622 | 90 | - | (1,993 | ) | |||||||||||||||||||
| Corporate | (7,179 | ) | 5 | 1,395 | 448 | 494 | 43 | (4,794 | ) | |||||||||||||||||||
| Total | $ | (9,513 | ) | $ | 7,948 | $ | 5,366 | $ | 1,313 | $ | 2,159 | $ | 55 | $ | 7,328 | |||||||||||||
| Nine Months Ended December 31, 2023 | ||||||||||||||||||||||||||||
| Operations – PodcastOne | $ | (13,683 | ) | $ | 710 | $ | 2,724 | $ | 804 | $ | 9,850 | $ | - | $ | 405 | |||||||||||||
| Operations – Slacker | 7,377 | 2,156 | 1,036 | 989 | 993 | - | 12,551 | |||||||||||||||||||||
| Operations - Other | 136 | 789 | 478 | 394 | (2,633 | ) | - | (836 | ) | |||||||||||||||||||
| Corporate | (4,496 | ) | 13 | 1,611 | (5 | ) | (1,094 | ) | 43 | (3,928 | ) | |||||||||||||||||
| Total | $ | (10,666 | ) | $ | 3,668 | $ | 5,849 | $ | 2,182 | $ | 7,116 | $ | 43 | $ | 8,192 | |||||||||||||
| (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 | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Revenue: | $ | 29,445 | $ | 31,245 | ||||
| Less: | ||||||||
| Cost of sales | (22,292 | ) | (23,267 | ) | ||||
| Amortization of developed technology | (787 | ) | (775 | ) | ||||
| Gross Profit | 6,366 | 7,203 | ||||||
| Add back amortization of developed technology: | 787 | 775 | ||||||
| Contribution Margin* | $ | 7,153 | $ | 7,978 | ||||
| Nine Months Ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Revenue: | $ | 95,117 | $ | 87,541 | ||||
| Less: | ||||||||
| Cost of sales | (71,897 | ) | (63,015 | ) | ||||
| Amortization of developed technology | (2,253 | ) | (2,248 | ) | ||||
| Gross Profit | 20,967 | 22,278 | ||||||
| Add back amortization of developed technology: | 2,253 | 2,248 | ||||||
| Contribution Margin* | $ | 23,220 | $ | 24,526 | ||||
| * | See the definition of Contribution Margin under “About Non-GAAP Financial Measures” within this release. |
FAQ
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