Business
LiveOne (Nasdaq: LVO) Reports Q3 Fiscal Year 2024 Record Revenue of $31.2M and Adjusted EBITDA* of $3.3M, Memberships Increased 687K (+36% YoY)
Record Revenue of $87.5M and Adjusted EBITDA* of $8.2M for the First 9 Months FY 2024 Audio Division, consisting of Slacker Radio and PodcastOne (Nasdaq:
About this update from Liveone, Inc.
[{"type":"text","content":" \n\n Record Revenue of $87.5M and Adjusted EBITDA* of $8.2M for the First 9 Months FY 2024 \n Audio Division, consisting of Slacker Radio and PodcastOne (Nasdaq: PODC), Reports Record Revenue of $79.9M and Adjusted EBITDA* of $13M for First 9 Months FY 2024 \n Maintaining Guidance for FY 2025 Consolidated Revenue of $140M - $155M and Adjusted EBITDA* of $16M - $20M\n Maintaining Guidance for FY 2025 Audio Division of Revenues $130M - $140M and Adjusted EBITDA* of $20M - $25M and Over $17M of Positive Cash Flow\n LiveOne's Senior Management Will Host a Live Conference Call and Audio Webcast Beginning at 10:00 A.M. ET on Thursday, February 8, 2024\nLOS ANGELES, CA - (NewMediaWire) - February 08, 2024 - LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today its operating results for the third fiscal quarter of its fiscal year ending March 31, 2024 (\"Q3 Fiscal 2024\").\n \nLiveOne's CEO and Chairman, Robert Ellin, commented, \"I'm thrilled to announce our continued success and growth across all divisions. As we approach the end of Fiscal Year 2024, we are not only meeting but exceeding our targets. The momentum we've built sets the stage for an even more exciting and prosperous Fiscal Year 2025.\"\nEllin continued, \"From inception, our vision has been clear: to create the LiveOne Flywheel, a vertically integrated powerhouse. We utilize innovative AI technologies to cut costs while collaborating with creators and influencers, transcending traditional boundaries and mediums. Our commitment is unwavering: to promote their brands seamlessly across every facet of our organization, enriching both our talent and our shareholders.\"\nRecent and Q3 Fiscal 2024 Highlights\n Paid members as of December 31, 2023 increased 687K, or 36%, as compared to the prior year. Total members including free ad-supported memberships was approximately 3.5 million at December 31, 2023.**\n PodcastOne was ranked 10th in Podtrac's Podcast Industry Top Publishers Rankings for January 2024 with a U.S. Unique Monthly Audience of ~5.3 million and Global Downloads and Streams of ~19.2 million.\n 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 ...