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LiveOne's (Nasdaq: LVO) Audio Division Achieves Record Earnings, Adjusted EBITDA* Exceeds Guidance by 51% at $18.2M

1. LiveOne reports record revenue of $108.9M for Fiscal 2025. 2. Adjusted EBITDA surpassed expectations, hitting $18.2M, reflecting strong cost management. 3. Operational losses increased to $8.2M in Q4 Fiscal 2025, primarily from revenue decline. 4. CEO highlights profit improvements through strategic resource optimization initiatives. 5. Earnings call scheduled for June 26, 2025, to discuss future directions.

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$0.767706/19 02:42 PM EDTLatest Updated
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Why Bullish?

The surpassing of revenue and EBITDA guidance indicates strong operational performance, potentially boosting investor confidence. Similar past instances saw stock prices rise after exceeding earnings projections, which may apply to LVO.

How important is it?

The financial results and improvements in key metrics could positively influence LVO's price. Therefore, investor perception driven by this performance is deemed significant.

Why Short Term?

The upcoming earnings call could provide immediate insights and influence market reactions. Additionally, recent performance should resonate in the near term with investors seeking validation of recent results.

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PODC
- Audio Division (Slacker Radio and PodcastOne):    - Fiscal 2025 Record Revenue: $108.9M (beat guidance by $2.9M)    - Fiscal 2025 Record Adjusted EBITDA*: $18.2M (beat guidance by 51+% or $6.2M) - Fiscal 2025 Consolidated Revenue: $114.4M (beat guidance by $2.4M) - Company will host a conference call and webcast on June 26, 2025, to discuss earnings and current B2B partnerships, including Tesla LOS ANGELES, June 18, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today its operating results for the fourth fiscal quarter (“Q4 Fiscal 2025”) and fiscal year ended March 31, 2025 ("Fiscal 2025"). LiveOne will host a conference call and webcast on June 26, 2025. LiveOne’s CEO and Chairman, Robert Ellin, stated, “I'm proud to share that we've surpassed our guidance for revenues and adjusted EBITDA* for fiscal 2025. This is a clear reflection of our dedication to excellence and our creator-first approach centered around superfans.” Mr. Ellin added, “I'm especially pleased with the impact of our cost-reduction initiatives. Through resource optimization and innovative operational strategies, we've improved profitability, strengthened our market position, and delivered meaningful value to our shareholders.” Q4 Fiscal 2025 and Q4 Fiscal 2024 and Fiscal 2025 and Fiscal 2024 Results Summary (in $000’s, except per share; unaudited)  Three Months Ended Year Ended March 31, March 31,  2025   2024   2025   2024         Revenue$19,288  $30,899  $114,405  $118,440 Operating income (loss)$(8,249) $(1,161) $(15,548) $(4,668)Total other income (expense)$(339) $(1,409) $(2,498) $(8,525)Net income (loss)$(8,348) $(2,645) $(17,861) $(13,311)Adjusted EBITDA*$1,592  $2,785  $8,922  $10,977 Net income (loss) per share basic and diluted ($0.08)   ($0.03)   ($0.17)   ($0.14)  Q4 Fiscal 2025 Results Summary Discussion For Q4 Fiscal 2025, LiveOne posted revenue of $19.3 million versus $30.9 million in the same period in the prior year, driven primarily by reductions in Slacker radio revenues. Q4 Fiscal 2025 Operating Loss was ($8.2) million compared to a ($1.2) million Operating Loss in the fourth quarter ended March 31, 2024 (“Q4 Fiscal 2024”). The $8.2 million in Operating Loss was largely a result of a decrease in revenue offset by reductions in other operating expenses. Q4 Fiscal 2025 Adjusted EBITDA* was $1.6 million, as compared to Q4 Fiscal 2024 Adjusted EBITDA* of $2.8 million, a decrease of $1.2 million. Q4 Fiscal 2025 Adjusted EBITDA* was comprised of Audio Division Adjusted EBITDA* of $4.1 million, Other Operations Adjusted EBITDA* of ($1.0) million and Corporate Adjusted EBITDA* of ($1.5) million. Audio Division Adjusted EBITDA* of $4.1 million was driven by improved Contribution Margins* along with decreases in operating expenses. Capital expenditures for Q4 Fiscal 2025 totaled approximately $3.1 million, which were driven by capitalized software costs associated with development of LiveOne’s integrated music player and pay-per-view services. Conference Call and Webcast: Earnings conference call and webcast will be held on Thursday, June 26, 2025. LiveOne will separately announce the time of such conference call and webcast and how investors and interested parties can participate. The select anticipated financial results discussed in this press release are based on management’s preliminary analysis of financial results for Fiscal 2025. As of the date of this press release, LiveOne has not completed its financial statement reporting process for Fiscal 2025, and LiveOne’s independent registered accounting firm has not completed its audit procedures on the financial results discussed in this press release. During the course of LiveOne’s fiscal year-end closing procedures and review process, LiveOne may identify items that would require it to make adjustments, which may be material, to the information presented above. The estimated unaudited financial results contained in this press release are based only on currently available information as of the date hereof. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to such financial results, and are not guarantees of future performance and may differ from actual results. About LiveOne, Inc. 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 X 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 debt 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 repay its indebtedness when due; LiveOne’s ability to satisfy the conditions for closing on its announced additional convertible debentures financing; 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 December 31, 2024, filed with SEC on February 14, 2025, 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. * 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 2026 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. Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and X at @liveone. Financial Information The tables below present financial results for the three months and fiscal year ended March 31, 2025 and 2024. LiveOne, Inc.Consolidated Statements of Operations (Unaudited)(In thousands, except share and per share amounts)  Three Months Ended Year Ended March 31, March 31,  2025   2024   2025   2024         Revenue:$19,288  $30,899  $114,405  $118,440         Operating expenses:       Cost of sales 13,344   23,376   85,241   86,391 Sales and marketing 1,583   2,167   6,268   7,838 Product development 1,129   1,302   4,475   4,681 General and administrative 5,178   4,627   22,209   22,268 Impairment of fixed assets, intangible assets and goodwill 5,830   -   9,813   115 Amortization of intangible assets 473   588   1,947   1,815 Total operating expenses 27,537   32,060   129,953   123,108 Loss from operations (8,249)  (1,161)  (15,548)  (4,668)        Other income (expense):       Interest expense, net (501)  (889)  (2,712)  (4,366)Other income (expense) 162   (520)  214   (4,159)Total other expense, net (339)  (1,409)  (2,498)  (8,525)        Loss before provision (benefit) for income taxes (8,588)  (2,570)  (18,046)  (13,193)        Provision (benefit) for income taxes (240)  75   (185)  118 Net loss (8,348)  (2,645)  (17,861)  (13,311)Net loss attributable to non-controlling interest (410)  (691)  (1,661)  (1,345)Net loss attributed to LiveOne$(7,938) $(1,954) $(16,200) $(11,966)        Net loss per share – basic and diluted$(0.08) $(0.03) $(0.17) $(0.14)Weighted average common shares – basic and diluted 96,107,527   88,390,853   95,041,241   87,617,392                  LiveOne, Inc.Consolidated Balance Sheets (Unaudited)(In thousands)  March 31, March 31,  2025   2024     Assets   Current Assets   Cash and cash equivalents$4,119  $6,987 Restricted cash 30   155 Accounts receivable, net 8,836   13,205 Inventories 1,586   1,801 Prepaid expense and other current assets 1,212   2,187 Total Current Assets 15,783   24,335 Property and equipment, net 1,965   3,646 Goodwill 21,712   23,379 Intangible assets, net 3,340   12,415 Other assets 97   88 Total Assets$42,897  $63,863     Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit)   Current Liabilities   Accounts payable and accrued liabilities$25,179  $26,953 Accrued royalties 5,490   10,862 Notes payable, current portion 623   692 Senior secured line of credit 2,950   7,000 Deferred revenue 2,141   728 Derivative liabilities   607 Total Current Liabilities 36,383   46,842 Notes payable, net 150   771 Lease liabilities, noncurrent 99   - Other long-term liabilities 12,236   9,354 Deferred income taxes 60   339 Total Liabilities 48,928   57,306     Commitments and Contingencies       Mezzanine Equity   Redeemable convertible preferred stock, $0.001 par value; 100,000 shares authorized; None and 5,000 shares issued and outstanding as of March 31, 2025 and 2024, respectively -   4,962 Stockholders’ Equity (Deficit)   Preferred stock, $0.001 par value; 10,000,000 shares authorized; 14,002 and 18,814 shares issued and outstanding as of March 31, 2025 and 2024, respectively 14,002   18,814 Common stock, $0.001 par value; 500,000,000 shares authorized; 96,765,145 issued and outstanding as of March 31, 2025; 92,487,459 shares issued and outstanding as of March 31, 2024 97   92 Additional paid in capital 233,367   216,116 Treasury stock (250)  (4,782)Accumulated deficit (262,610)  (238,984)Total LiveOne's Stockholders’ Deficit (15,394)  (8,744)Non-controlling interest 9,363   10,339 Total equity (deficit) (6,031)  1,595 Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit)$42,897  $63,863          LiveOne, Inc.Reconciliation of Non-GAAP Measure to GAAP MeasureAdjusted 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 Expense for Taxes EBITDA*Three Months Ended March 31, 2025              Operations – PodcastOne $(1,554) $313 $2,114  $3 $-  $12  $888 Operations – Slacker  (1,100)  4,075  23   45  132   -   3,175 Operations – Other  (3,954)  2,802  150   15  33   2   (952)Corporate  (1,740)  -  (137)  438  174   (254)  (1,519)Total $(8,348) $7,190 $2,150  $501 $339  $(240) $1,592                Three Months Ended March 31, 2024              Operations – PodcastOne $(1,049) $438 $921  $77 $(184) $55  $258 Operations – Slacker  5,429   770  648   37  542   -   7,426 Operations – Other  (1,533)  345  194   63  (2,246)  -   (3,177)Corporate  (5,492)  1  353   99  3,297   20   (1,722)Total $(2,645) $1,554 $2,116  $276 $1,409  $75  $2,785          Non-              Recurring              Acquisition and Other (Benefit)    Net Income Depreciation and Stock-Based Realignment (Income) Provision Adjusted  (Loss) Amortization Compensation Costs Expense for Taxes EBITDA*Year Ended March 31, 2025              Operations – PodcastOne $(6,172) $1,514 $4,086 $47 $-  $24  $(501)Operations – Slacker  5,256   10,189  1,283  244  1,707   -   18,679 Operations – Other  (8,026)  3,430  889  639  123   1   (2,944)Corporate  (8,919)  5  1,258  886  668   (210)  (6,312)Total $(17,861) $15,138 $7,516 $1,816 $2,498  $(185) $8,922                Year Ended March 31, 2024              Operations – PodcastOne $(14,732) $1,148 $3,483 $881 $9,666  $55  $501 Operations – Slacker  12,806   2,926  1,684  1,026  1,535   -  $19,977 Operations – Other  (1,397)  1,134  672  457  (4,879)  -  $(4,013)Corporate  (9,988)  14  2,126  94  2,203   63  $(5,488)Total $(13,311) $5,222 $7,965 $2,458 $8,525  $118  $10,977   (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 MeasureContribution Margin* Reconciliation (Unaudited)(In thousands)  Three Months Ended March 31, 2025 2024    Revenue:$19,288  $30,899 Less:   Cost of sales (13,344)  (23,376)Amortization of developed technology (834)  (761)Gross Profit  5,110     6,762      Add back amortization of developed technology: 834   761 Contribution Margin*$ 5,944   $ 7,523    Year Ended March 31,  2025   2024     Revenue:$114,405  $118,440 Less:   Cost of sales (85,241)  (86,391)Amortization of developed technology (3,087)  (3,009)Gross Profit  26,077     29,040      Add back amortization of developed technology: 3,087   3,009 Contribution Margin*$ 29,164   $ 32,049    *See the definition of Contribution Margin under “About Non-GAAP Financial Measures” within this release.

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