LiveOne to Pre-Announce Preliminary Q2 Fiscal 2023 Revenue and Adjusted EBITDA Results Prior to the Stock Market Open on Tuesday, October 25th

Rhea-AI Summary

LiveOne (Nasdaq: LVO) plans to pre-announce preliminary unaudited financial results for its second fiscal quarter ended September 30, 2022, before the market opens on Tuesday, October 25, 2022. The company offers a music, entertainment, and technology platform, featuring a paid and ad-supported membership base of 2.5 million, a library of 30 million songs, and over 300 podcasts. LiveOne's subsidiaries include Slacker Radio and PodcastOne, which generate over 2.1 billion downloads per year.

Positive

• 2.5 million paid and free ad-supported members.
• Streamed over 2,900 artists and features 30 million songs.
• Strong engagement with over 2.1 billion downloads annually from PodcastOne.

Negative

• Currently not recognizing revenue from some members due to a contractual dispute.

LOS ANGELES--(BUSINESS WIRE)-- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today that it plans to pre-announce certain preliminary and unaudited financial results for its second fiscal quarter ended September 30, 2022 prior to the stock market open on Tuesday, October 25, 2022.

LiveOne management will be available to answer any questions. Please send an email to ir@liveone.com or call (310) 601-2505 to arrange a call.

About LiveOne, Inc.

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") 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. The Company was awarded Best Live Moment by Digiday for its “Social Gloves” PPV Event and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of September 9, 2022, the Company has accrued a paid and free ad-supported membership base of 2.5 million*, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.1 billion downloads per year and 350 episodes produced per week across its stable of top-rated podcasts. LiveOne is available on iOS and Android mobile devices, Android Automotive, as well as Apple, Android, Roku, Amazon Fire, and Samsung TV devices. LiveOne also has a 24-7 linear OTT channel available on STIRR, through Zync (coming soon), and on LiveOne.com. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.

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: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, including the proposed spin-out of PodcastOne or its pay-per-view business, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's ability to list on a national exchange; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid members; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022, filed with the SEC on August 15, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221021005252/en/

LiveOne IR Contact:

(310) 601-2505

ir@liveone.com

Press Contact:

LiveOne

aileen@liveone.com

917.842.9653

Source: LiveOne, Inc.

FAQ

What date will LiveOne announce its Q2 financial results?

LiveOne will pre-announce its Q2 financial results on October 25, 2022.

What is the current membership base of LiveOne?

LiveOne has a membership base of 2.5 million, which includes both paid and ad-supported members.

What are some key features of LiveOne's platform?

LiveOne's platform features a library of 30 million songs, 600 curated radio stations, and over 300 podcasts.

How many downloads does PodcastOne generate annually?

PodcastOne generates over 2.1 billion downloads annually.

What challenges is LiveOne currently facing?

LiveOne is not recognizing revenue from certain members due to a contractual dispute.