LiveOne(US:LVO)2025-02-13 22:15Revenue Performance - LiveOne reported record revenues of $95.1 million for the nine months ended December 31, 2024, compared to $87.5 million for the same period in the prior year, representing an increase of 8.5%[1][5] - The Audio Division achieved record revenue of $90.6 million, a 13% year-over-year increase, with Q3 Fiscal 2025 revenue at $27.1 million, down 1% from $27.3 million in Q3 Fiscal 2024[3][6] - Revenue for the three months ended December 31, 2024, was $29,445 million, a decrease of 5.7% compared to $31,245 million for the same period in 2023[28] Operating Loss and Expenses - LiveOne's Q3 Fiscal 2025 operating loss was $5.1 million, compared to a loss of $0.8 million in Q3 Fiscal 2024, primarily due to decreased revenue from the Audio Division[7] - Total operating expenses for the three months ended December 31, 2024, were $34,558 million, an increase of 7.9% from $31,998 million in the same period in 2023[28] Net Loss and Financial Position - Net loss for the three months ended December 31, 2024, was $5,638 million, compared to a net loss of $2,224 million for the same period in 2023, representing an increase in loss of 153.5%[28] - Net loss attributable to LiveOne for the three months ended December 31, 2024, was $5,233 million, compared to a net loss of $1,574 million for the same period in 2023[28] - The company reported a net loss per share of $0.06 for the three months ended December 31, 2024, compared to a net loss per share of $0.03 for the same period in 2023[28] Cash Position and Assets - LiveOne's cash position was $10.9 million as of December 31, 2024, with $11 million in cost savings achieved through restructuring efforts[3] - Cash and cash equivalents as of December 31, 2024, were $10,854 million, an increase from $6,987 million as of March 31, 2024[30] - Total assets decreased to $56,216 million as of December 31, 2024, from $63,863 million as of March 31, 2024[30] - Total liabilities decreased to $55,087 million as of December 31, 2024, from $57,306 million as of March 31, 2024[30] Subscriber Growth and Business Development - The company has 800,000 Tesla subscribers, including over 475,000 ad-supported users, with a 130% increase in overall direct-billed subscribers since October 2024[12] - LiveOne closed 5 B2B deals in the quarter and expects to close 2 or more by year-end, with over 70 deals in the pipeline[3] Guidance and Future Outlook - LiveOne updated its fiscal year 2025 guidance to consolidated revenue of $112 million to $120 million and Adjusted EBITDA of $6 million to $10 million[10] Podcast Performance - PodcastOne ranked in the Top 10 in PODTRAC's Podcast Industry Top Publishers Rankings for January 2025, with a U.S. unique monthly audience of approximately 5.2 million[4] Adjusted EBITDA - Adjusted EBITDA for Q3 Fiscal 2025 was $1.5 million, down from $3.3 million in Q3 Fiscal 2024, with Audio Division Adjusted EBITDA at $3.6 million[8] Contribution Margin - Contribution margin for the three months ended December 31, 2024, was $7,153 million, down from $7,978 million in the same period in 2023, reflecting a decrease of 10.3%[36] Shareholder Returns - The company reaffirmed its $12 million stock buyback program, with $6.2 million remaining[3] Share Count - Weighted average common shares outstanding for the three months ended December 31, 2024, were 95,501,753, compared to 87,882,364 for the same period in 2023[28]