Business
LiveOne Reports Fiscal Year 2023 Revenue of $99.6M and Record Adjusted EBITDA* of $10.9M, a $24.4M Improvement Year-Over-Year
Audio Division Revenue of $86.8M and Adjusted EBITDA* of $18.2M for Fiscal Year 2023, a 289% Increase Year-Over-Year Raises Fiscal Year 2024 Revenue Guidance
About this update from Liveone, Inc.
[{"type":"text","content":" Audio Division Revenue of $86.8M and Adjusted EBITDA* of $18.2M for Fiscal Year 2023, a 289% Increase Year-Over-Year Raises Fiscal Year 2024 Revenue Guidance for Audio Division to $100M – to $110M and Adjusted EBITDA* to $18M - $21MAudio Division Q4 Fiscal 2023 Revenue of $22.9M and Adjusted EBITDA* of $4.5M versus $2.4M in Q4 Fiscal 2022, an 89% IncreaseRaises Company Guidance for Fiscal Year 2024 Revenue of $122M - $130M and Adjusted EBITDA* of $12M - $16MLiveOne’s PodcastOne Expects to Deliver a Record-Breaking Q1 Fiscal 2024 of Over $10.5M in Revenue and Fiscal Year 2024 Revenue Between $40M - $45MPodcastOne’s S-1 Registration Statement Declared Effective by the SECRepaid $3 million of PodcastOne DebtIncreased PodcastOne Special Dividend from 12% to ~ 19% Record Growth of 612K+ New Paid Members – a 39% Year-Over-Year IncreaseTotal Members Have Reached 3.1 Million, Including over 2.2 Million Paid Members** Anticipates Total Memberships to Exceed 4 Million with Paid Memberships** to Surpass 3 Million by Year End Fiscal 2024 Repurchased 2.9 Million Shares, $2.3 Million Remaining Capacity to Repurchase Additional Shares Finished Fiscal Year 2023 with Short-Term Assets of $27.8M and $8.4M of Cash LiveOne’s Slacker and Roth CH Acquisition V Co. Announced Letter of Intent to Merge; Expected to Value Slacker at $160 Million Pre-MoneyLiveOne’s Senior Management Will Host a Live Conference Call and Audio Webcast Beginning at 10:30 A.M. ET on Tuesday, June 27, 2023 LOS ANGELES, CA, June 27, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - 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 2023”) and fiscal year ended March 31, 2023 (“Fiscal 2023”). In Fiscal 2023, LiveOne posted consolidated revenue of $99.6 million, as well as Contribution Margin* of $32.8 million. LiveOne posted a net loss of $10.0 million on a consolidated basis, or $(0.12) per diluted share, for the same period. LiveOne’s Adjusted EBITDA* in Fiscal 2023 was a record $10.9 million. In Fiscal 2023, LiveOne extinguished approximately $23.0 million of payables. The company ended Fiscal 2023 with $27.8 million in short-term assets and $8.4 million in cash. LiveOne’s CEO and Chairman, Robert Ellin, commented, “As we closed out our 5th year since...