Business
LiveOne Reports Q2 Fiscal Year 2024 Revenue of $28.5M and Adjusted EBITDA* of $2.8M
Revenue of $56.3M and Adjusted EBITDA* of $5M for First Six Months Fiscal 2024 Audio Division Revenue of $52.6 and Adjusted EBITDA* of $10.4M for First Six
About this update from Liveone, Inc.
[{"type":"text","content":"Revenue of $56.3M and Adjusted EBITDA* of $5M for First Six Months Fiscal 2024 Audio Division Revenue of $52.6 and Adjusted EBITDA* of $10.4M for First Six Months Fiscal 2024 Guidance for Fiscal Year 2024 Consolidated Revenue of $114M - $120M and Adjusted EBITDA* of $12M - $16MRaises Audio Division Revenue Guidance to $105M - $110M and Adjusted EBITDA* of $18.5M to $21MTesla Renewed for the 10th Consecutive Year Increased Buyback Program to $8.5M LiveOne’s Senior Management Will Host a Live Conference Call and Audio Webcast Beginning at 10:30 A.M. ET on Thursday, November 9, 2023 LOS ANGELES, CA, Nov. 09, 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 second fiscal quarter of its fiscal year ending March 31, 2024 (“Q2 Fiscal 2024”). LiveOne’s CEO and Chairman, Robert Ellin, commented, “We are thrilled that the momentum in our key operating businesses continues to deliver hockey stick growth across all metrics. We expect to deliver record results in the current third quarter. In addition, the recent extension with Tesla as well as 18 new podcasts this year alone provides extraordinary confidence that Fiscal 2025 will be another record-breaking year.” Mr. Ellin, continued, “Our recent focus on new B-to-B initiatives has delivered 27 potential blue-chip partners across five verticals and growing that could deliver substantial revenue opportunities.” Recent and Q2 Fiscal 2024 Highlights Paid members as of September 30, 2023 was 2.4 million, a net increase of 679K, or 38%, as compared to the prior year. Total members including free ad-supported memberships was approximately 3.3 million at September 30, 2023.**PodcastOne was 10th in PODTRAC’s Podcast Industry Top Publishers Rankings for October 2023 with a U.S. Unique Monthly Audience of ~6 million and Global Downloads and Streams of ~34.5 million.Entered into talent and other agreements to acquire certain former Kast Media podcast shows in all-stock transactions, which is expected to increase annual consolidated revenue for PodcastOne by up to $10 million and is anticipated to be accretive to Adjusted EBITDA*.As previously announced in January 2021, with the assistance of J.P. Morgan, LiveOne is continuing a process to explore strategic al...