Business
LiveXLive Media Announces 13th Consecutive Quarter Of Record Revenue
- For the First Quarter ended June 30, 2021 ("Q1 Fiscal 2022"), Revenue Increased 269% year-over-year to a record $38.8 Million compared to $10.5 Million in
About this update from Liveone, Inc.
[{"type":"text","content":"- For the First Quarter ended June 30, 2021 (\"Q1 Fiscal 2022\"), Revenue Increased 269% year-over-year to a record $38.8 Million compared to $10.5 Million in the prior year while Contribution Margin* Increased 175% to a Record $7.8 Million versus $2.8 Million in the prior year\n - LiveXLive Increases Guidance for Fiscal 2022 Revenue to $115 - $125 Million and Maintains Guidance for Adjusted Operating Income* of $6 - $12 Million (Not Including Corporate Overhead)\n - GAAP Loss from Operations in Q1 Fiscal 2022 was ($10.0) Million while Adjusted Operating Loss* from Operations was ($1.8) Million\n - Revenue Streams Diversified in Q1 Fiscal 2022 comprised of 23% Subscription and 77% Sponsorship, Licensing, Advertising, Merchandising, Pay-Per-View Tickets and Events, compared to 84% Subscription and 16% Sponsorship, Licensing, Advertising, Pay-Per-View Tickets and Events in Q1 Fiscal 2021\n - As Compared to Q1 Fiscal 2021, Shareholders' Equity increased by $17.8 Million, Working Capital Increased by $31.2 Million, and Cash Increased by $7.6 Million to $24.7 Million at June 30, 2021. Cash and Cash Equivalents as of August 11, 2021 was Approximately $18.6 Million.\n - Paid subscribers as of June 30, 2021 increased 32% to over 1,162,000**, a net increase of approximately 285,000, as compared to 877,000 subscribers at June 30, 2020. Monthly average revenue per user was $3.38** in Q1 Fiscal 2022. Paid subscribers as of August 10, 2021 was 1,196,000**\n - Continued Integration of Business Units Drives Total Annualized Cost Savings in Excess of $5.6 Million\n\n\nLOS ANGELES, Aug. 12, 2021 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) (\"LiveXLive\"), a global platform for live stream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions (\"CPS\"), announced today record revenue and contribution margin* for its first fiscal quarter ended June 30, 2021 (\"Q1 Fiscal 2022\").\n\n \n \n \n \n \n \n\n \nIn Q1 Fiscal 2022, LiveXLive posted record revenue of $38.8 million, as well as record contribution margin* of $7.8 million. The increases were driven by growth in advertising, merchandising, pay-per-view (\"PPV\") and sponsorship revenue. On a U.S. GAAP basis, LiveXLive recorded a loss from operations of ($10.0) millio...