LiveOne(LVO) - 2026 Q2 - Quarterly Results

Revenue Performance - Q2 Fiscal 2026 revenue was $18.8 million, down from $32.6 million in the same period last year, primarily due to reductions in Slacker revenues[7] - Revenue for the three months ended September 30, 2025, was $18,762 million, a decrease from $32,594 million in the same period of 2024, representing a decline of approximately 42.4%[29] - Total revenue for the six months ended September 30, 2025, was $37,969 million, down from $65,672 million in the same period of 2024, a decrease of about 42.2%[29] Profitability and Losses - Operating loss for Q2 Fiscal 2026 was $4.6 million, compared to a loss of $1.4 million in Q2 Fiscal 2025[7] - Adjusted EBITDA for Q2 Fiscal 2026 was ($1.0) million, a decrease of $3.9 million from $2.9 million in Q2 Fiscal 2025[8] - Net loss for the three months ended September 30, 2025, was $5,684 million, compared to a net loss of $2,317 million for the same period in 2024, indicating an increase in losses of 145.5%[21] - The net loss per share for the three months ended September 30, 2025, was $0.52, compared to $0.24 for the same period in 2024, reflecting a deterioration of 116.7%[21] Expenses and Cost Management - Total operating expenses for the three months ended September 30, 2025, were $23,330 million, down from $33,994 million in the prior year, a reduction of 31.5%[21] - Cost of sales for the three months ended September 30, 2025, was $16,166 million, compared to $24,518 million in the same period of 2024, a reduction of approximately 34.1%[29] - Depreciation expense added back for the six months ended September 30, 2025, was $26 million, down from $76 million in the same period of 2024, indicating a decrease of approximately 65.8%[29] Cash and Assets - Cash and cash equivalents increased to $11,724 million as of September 30, 2025, compared to $4,119 million as of March 31, 2025, reflecting a growth of 184.5%[23] - Total assets as of September 30, 2025, were $53,820 million, up from $40,517 million as of March 31, 2025, representing an increase of 32.6%[23] Shareholder Information - The company reported a weighted average of 11,170,612 common shares outstanding for the three months ended September 30, 2025, compared to 9,465,818 shares in the same period of 2024, an increase of 24.5%[21] Liabilities and Deficits - Total liabilities as of September 30, 2025, were $61,829 million, up from $48,929 million as of March 31, 2025, an increase of 26.4%[23] - The company’s accumulated deficit increased to $275,001 million as of September 30, 2025, from $265,119 million as of March 31, 2025, indicating a rise of 3.4%[23] Strategic Initiatives - PodcastOne Fiscal 2026 guidance projects revenue between $56 million and $60 million, with Adjusted EBITDA of $4.5 million to $6 million[5] - AI-driven marketing initiatives increased average revenue per user (ARPU) by 60% and boosted premium conversions by over 22%[5] - LiveOne closed 7 major B2B deals over the past 12 months, resulting in contracted revenues exceeding $52 million[5] - The partnership with Amazon expanded from a $16.5 million three-year deal to a $20 million+ annual run rate[5] - LiveOne plans to launch a new B2B partnership targeting over 30 million monthly paying subscribers[5] - The company is actively evaluating M&A opportunities, including a potential subsidiary sale[5] Operational Efficiency - The company continues to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[29]