LiveOne(LVO) - 2025 Q1 - Quarterly Results

Revenue Growth - Q1 Fiscal 2025 Revenue reached $33.1M, a 19$27.8M in Q1 Fiscal 2024[1][4] - Audio Division achieved record revenue of $31.9M, up 24$25.7M in Q1 Fiscal 2024[1][4] - Revenue increased to $33.1 million in Q2 2024, up 19.1$27.8 million in Q2 2023[14] Adjusted EBITDA Performance - Adjusted EBITDA for Q1 Fiscal 2025 improved to $2.9M, compared to$2.2M in Q1 Fiscal 2024[4] - Adjusted EBITDA improved to $2.9 million in Q2 2024, up 31.4$2.2 million in Q2 2023[17] - PodcastOne operations reported an adjusted EBITDA loss of $0.3 million in Q2 2024, compared to a gain of$0.4 million in Q2 2023[17] - Slacker operations generated $5.4 million in adjusted EBITDA in Q2 2024, up 20.2$4.5 million in Q2 2023[17] Membership Growth - Paid members increased by 653K (29%) YoY, reaching 3.9M total members (including free ad-supported memberships) as of July 31, 2024[2] Podcast Performance - PodcastOne ranked 11th in PODTRAC's Podcast Industry Top Publishers Rankings with ~5.5M U.S. Unique Monthly Audience and ~17.5M Global Downloads and Streams[2] Financial Guidance - Fiscal 2025 Guidance: Consolidated Revenue of $140M -$155M and Adjusted EBITDA of $16M -$20M; Audio Division Revenue of $130M -$140M and Adjusted EBITDA of $20M -$25M[1][5] Capital Expenditures - Capital expenditures for Q1 Fiscal 2024 totaled $0.7M, driven by capitalized software costs for LiveOne's integrated music player and pay-per-view services[5] Share Repurchase - LiveOne repurchased 4.38M shares, with$6.3M remaining under the $12M repurchase program[1] Strategic Alternatives - LiveOne is exploring strategic alternatives, including potential acquisitions, divestitures, mergers, or sales, to enhance shareholder value[3] Operating Performance - Operating loss for Q1 Fiscal 2025 was ($0.8M), compared to ($0.3M) in Q1 Fiscal 2024, primarily due to increased operating expenses[4] - Net loss attributed to LiveOne was$1.2 million in Q2 2024, compared to $0.5 million in Q2 2023[14] - Contribution margin was$8.0 million in Q2 2024, slightly down from $8.2 million in Q2 2023[18] Balance Sheet Changes - Total assets grew to$64.6 million as of June 30, 2024, compared to $63.9 million as of March 31, 2024[16] - Cash and cash equivalents decreased to$6.2 million as of June 30, 2024, from $7.0 million as of March 31, 2024[16] - Accounts receivable increased to$14.8 million as of June 30, 2024, up 11.8% from $13.2 million as of March 31, 2024[16] - Total current liabilities rose to$48.1 million as of June 30, 2024, compared to $46.8 million as of March 31, 2024[16]