Business
LiveOne Reports Q1 Fiscal Year 2024 Revenue of $27.8M and Adjusted EBITDA* of $2.2M
Raises Company Guidance for Fiscal Year 2024 Revenue to $123M - $130M and Adjusted EBITDA* of $12M - $16MAudio Division Record Revenue of $25.7M and Adjusted
About this update from Liveone, Inc.
[{"type":"text","content":"Raises Company Guidance for Fiscal Year 2024 Revenue to $123M - $130M and Adjusted EBITDA* of $12M - $16MAudio Division Record Revenue of $25.7M and Adjusted EBITDA* of $4.9M for Q1 Fiscal Year 2024, a 24% and 46% Increase, Respectively, Year-Over-YearRaises Guidance Again for Audio Division Fiscal Year 2024 Revenue of $103M – $110M and Adjusted EBITDA* of $18M - $ 21MAudio Division Expected to Generate $12 Million in Cash Flow Before Settlements of Aged Account PayablesLiveOne’s PodcastOne (PODC) Delivered Record Q1 Fiscal Year 2024 Revenue of $10.6M and Raises Guidance for Fiscal Year 2024 Revenue Between $42M - $47MIncreased PODC Special Dividend to LiveOne Shareholders from 12% to ~19%; Expect PODC to Begin Trading on a National Securities Exchange by September 15thPODC Reports Record Growth of 690K+ New Paid Members – a 42% Year-Over-Year IncreaseTotal Members Have Reached 3.2 Million, Including over 2.3 Million Paid Members**Anticipates Total Memberships to Exceed 4 Million with Paid Memberships to Surpass 3 Million by Year End of Fiscal Year 2024**Increased Buyback Program to $7.5M Repurchasing 2.95 Million Shares to Date, Leaving $4.25 Million Capacity to RepurchaseLiveOne’s Slacker and Roth CH Acquisition V Co. Have Signed Letter of Intent to Merge; Expected to Value Slacker at $160 Million Pre-MoneyClosed $1.7M Non-Dilutive Debt Financing to Complete Fantasy Guru Acquisition and Certain Kast Media Podcasts Acquisitions and Acquire Additional Podcasts and Talent From Largest Opportunity Pipeline in Company’s History LiveOne’s Senior Management Will Host a Live Conference Call and Audio Webcast Beginning at 10:00 A.M. ET on Thursday, August 10, 2023 LOS ANGELES, CA, Aug. 10, 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 first fiscal quarter of its fiscal year ending March 31, 2024 (“Q1 Fiscal 2024”). LiveOne’s CEO and Chairman, Robert Ellin, commented, “We are thrilled with the exceptional start to our fiscal year 2024. We are seeing hockey stick growth across both our Slacker and PodcastOne subsidiaries, and expect this growth to continue through the balance of the year.” Recent and Q1 Fiscal 2024 Highlights Paid members as of July 31, 2023 was 2.3 million, a net increase of 6...