via NewMediaWire -- LiveOne (Nasdaq: LVO), an award-winning,
creator-first, music, entertainment, and technology platform,
announced today its operating results for the third fiscal quarter
of its fiscal year ending March 31, 2024 (“Q3 Fiscal
2024”).
LiveOne’s CEO and Chairman,
Robert Ellin, commented, “I’m thrilled to announce our continued
success and growth across all divisions. As we approach the end of
Fiscal Year 2024, we are not only meeting but exceeding our
targets. The momentum we’ve built sets the stage for an even more
exciting and prosperous Fiscal Year 2025.”
Ellin continued, “From inception, our vision has been clear: to
create the LiveOne Flywheel, a vertically integrated powerhouse. We
utilize innovative AI technologies to cut costs while collaborating
with creators and influencers, transcending traditional boundaries
and mediums. Our commitment is unwavering: to promote their brands
seamlessly across every facet of our organization, enriching both
our talent and our shareholders.”
Recent and Q3 Fiscal
2024 Highlights
- Paid members as of
December 31, 2023 increased 687K, or 36%, as compared to the prior
year. Total members including free ad-supported memberships was
approximately 3.5 million at December 31, 2023.**
- PodcastOne was
ranked 10th in Podtrac’s Podcast Industry Top Publishers Rankings
for January 2024 with a U.S. Unique Monthly Audience of ~5.3
million and Global Downloads and Streams of ~19.2 million.
- As previously
announced, with the assistance of J.P. Morgan, LiveOne is
continuing a process to explore strategic alternatives to enhance
shareholder value. Potential alternatives may include, among
others, a strategic acquisition, divestiture, merger, sale or other
form of business combination. There can be no assurance that
LiveOne's efforts will result in a specific transaction or any
particular outcome or its timing.
Q3 FY 24 and Q2 FY23 Results Summary (in
$000’s, except per share;
unaudited)
|
|
Three Months EndedDecember
31, |
|
|
Nine Months EndedDecember
31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$ |
31,245 |
|
|
|
$ |
27,309 |
|
|
|
$ |
87,541 |
|
|
|
$ |
74,063 |
|
|
Operating income (loss) |
|
$ |
(753) |
|
|
|
$ |
(574) |
|
|
|
$ |
(3,507) |
|
|
|
$ |
(1,324) |
|
|
Total other income
(expense) |
|
$ |
(1,486) |
|
|
|
$ |
(1,963) |
|
|
|
$ |
(7,116) |
|
|
|
$ |
(3,270) |
|
|
Net income (loss) |
|
$ |
(2,224) |
|
|
|
$ |
(2,548) |
|
|
|
$ |
(10,666) |
|
|
|
$ |
(4,609) |
|
|
Adjusted EBITDA* |
|
$ |
3,313 |
|
|
|
$ |
3,067 |
|
|
|
$ |
8,192 |
|
|
|
$ |
9,435 |
|
|
Net income (loss) per share
basic and diluted |
|
$ |
(0.03) |
|
|
|
$ |
(0.03) |
|
|
|
$ |
(0.14) |
|
|
|
$ |
(0.05 |
|
|
Q3 Fiscal
2024 Results Summary Discussion
For Q3 Fiscal 2024, LiveOne posted revenue of $31.2 million, a
14% increase, as compared to $27.3 million in the same period in
the prior year. Slacker revenue was a record $16.8 million, a 26%
increase, as compared to revenue of $13.4 million in the third
fiscal quarter for its fiscal year ended March 31, 2023 (“Q3 Fiscal
2023”). PodcastOne revenue was $10.4 million, a 22% increase, as
compared to revenue of $8.6 million in Q3 Fiscal 2023.
Q3 Fiscal 2024 Operating Loss was ($0.8) million compared to
Operating Loss of ($0.6) million in Q3 Fiscal 2023. The $0.2
million increase in Operating Loss was largely a result of an
increase in operating expenses associated with share-based
compensation.
Q3 Fiscal 2024 Adjusted EBITDA* of $3.3 million increased as
compared to Q3 Fiscal 2023 Adjusted EBITDA* of $3.1 million, which
was primarily driven by our increase in revenue for the current
period. Q3 Fiscal 2024 Adjusted EBITDA* was comprised of Slacker
Adjusted EBITDA* of $6.8 million and PodcastOne Adjusted EBITDA*
loss of $(0.4) million.
Capital expenditures for Q3 Fiscal 2024 totaled approximately
$0.8 million, which were driven by capitalized software costs
associated with development of LiveOne’s integrated music
player.
LiveOne's senior management will host a live conference call and
audio webcast to provide a business update and discuss its
operating and financial results beginning at 10:00 a.m. ET / 7:00
a.m. PT on Thursday, February 8, 2024.
Conference Call and Webcast:
WHEN: Thursday, February 8thTIME: 10:00 AM ET / 7:00 AM
PTDIAL-IN (Toll Free): (833) 470-1428DIAL IN NUMBER (Local): (404)
975-4839ACCESS CODE: 331352
Replay Number:US (Local): (929) 458-6194Access
Code: 968462
Webcast – Both the live webcast and a
replay can be accessed on the Investor Relations section of
LiveOne's website at Events | LiveOne. The webcast can also be
accessed
at: https://events.q4inc.com/attendee/103660746
About LiveOne, Inc.
Headquartered in Los Angeles, California, LiveOne, Inc.
(Nasdaq: LVO) (the “Company”) is an award-winning,
creator-first, music, entertainment, and technology platform
focused on delivering premium experiences and content worldwide
through memberships and live and virtual events. The Company's
subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC),
PPVOne, Palm Beach Records, CPS, LiveXLive, DayOne Music
Publishing, Drumify and Splitmind. LiveOne is available on iOS,
Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV,
and through STIRR’s OTT applications. For more information,
visit liveone.com and follow us
on Facebook, Instagram, TikTok, YouTube and
Twitter at @liveone. For more investor information, please
visit ir.liveone.com.
Forward-Looking Statements
All statements other than statements of historical facts
contained in this press release are “forward-looking statements,”
which may often, but not always, be identified by the use of such
words as “may,” “might,” “will,” “will likely result,” “would,”
“should,” “estimate,” “plan,” “project,” “forecast,” “intend,”
“expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or
the negative of such terms or other similar expressions. These
statements involve known and unknown risks, uncertainties and other
factors, which may cause actual results, performance or
achievements to differ materially from those expressed or implied
by such statements, including: the Company’s reliance on one key
customer for a substantial percentage of its revenue; the Company’s
ability to consummate any proposed financing, acquisition,
spin-out, special dividend, merger, distribution or transaction,
the timing of the consummation of any such proposed event,
including the risks that a condition to the consummation of any
such event would not be satisfied within the expected timeframe or
at all, or that the consummation of any proposed financing,
acquisition, spin-out, merger, special dividend, distribution or
transaction will not occur or whether any such event will enhance
shareholder value; the Company’s ability to continue as a going
concern; the Company’s ability to attract, maintain and increase
the number of its users and paid members; the Company identifying,
acquiring, securing and developing content; the Company’s intent to
repurchase shares of its and/or PodcastOne’s common stock from time
to time under its announced stock repurchase program and the
timing, price, and quantity of repurchases, if any, under the
program; the Company’s ability to maintain compliance with certain
financial and other covenants; the Company successfully
implementing its growth strategy, including relating to its
technology platforms and applications; management’s relationships
with industry stakeholders; uncertain and unfavorable outcomes in
legal proceedings; changes in economic conditions; competition;
risks and uncertainties applicable to the businesses of the
Company’s subsidiaries; and other risks, uncertainties and factors
including, but not limited to, those described in the Company’s
Annual Report on Form 10-K for the fiscal year ended March 31,
2023, filed with the U.S. Securities and Exchange Commission (the
“SEC”) on June 29, 2023, Quarterly Report on Form 10-Q for the
quarter year ended September 30, 2023, filed with the SEC on
November 20, 2023, and in the Company’s other filings and
submissions with the SEC. These forward-looking statements speak
only as of the date hereof, and the Company disclaims any
obligation to update these statements, except as may be required by
law. The Company intends that all forward-looking statements be
subject to the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995.
**Included in the total number of paid members for the reported
periods are certain members which are the subject of a contractual
dispute. LiveOne is currently not recognizing revenue related to
these members.
* About Non-GAAP Financial
Measures
To supplement our consolidated financial statements, which are
prepared and presented in accordance with the accounting principles
generally accepted in the United States of America ("GAAP"), we
present Contribution Margin (Loss) and Adjusted Earnings Before
Interest Tax Depreciation and Amortization ("Adjusted EBITDA"),
which are non-GAAP financial measures, as measures of our
performance. The presentation of these non-GAAP financial measures
is not intended to be considered in isolation from, or as a
substitute for, or superior to, operating loss and or net income
(loss) or any other performance measures derived in accordance with
GAAP or as an alternative to net cash provided by operating
activities or any other measures of our cash flows or
liquidity.
We use Contribution Margin (Loss) and Adjusted EBITDA to
evaluate the performance of our operating segment. We believe that
information about these non-GAAP financial measures assists
investors by allowing them to evaluate changes in the operating
results of our business separate from non-operational factors that
affect operating income (loss) and net income (loss), thus
providing insights into both operations and the other factors that
affect reported results. Adjusted EBITDA is not calculated or
presented in accordance with GAAP. A limitation of the use of
Adjusted EBITDA as a performance measure is that it does not
reflect the periodic costs of certain amortizing assets used in
generating revenue in our business. Accordingly, Adjusted EBITDA
should be considered in addition to, and not as a substitute for
operating income (loss), net income (loss), and other measures of
financial performance reported in accordance with GAAP.
Furthermore, this measure may vary among other companies; thus,
Adjusted EBITDA as presented herein may not be comparable to
similarly titled measures of other
companies. Contribution Margin (Loss) is defined as
Revenue less Cost of Sales. Adjusted EBITDA is defined as earnings
before interest, other (income) expense, income tax expense,
depreciation and amortization and before (a) non-cash GAAP purchase
accounting adjustments for certain deferred revenue and costs, (b)
legal, accounting and other professional fees directly attributable
to acquisition activity, (c) employee severance payments and third
party professional fees directly attributable to acquisition or
corporate realignment activities, (d) certain non-recurring
expenses associated with legal settlements or reserves for legal
settlements in the period that pertain to historical matters that
existed at acquired companies prior to their purchase date and a
one-time minimum guarantee to effectively terminate a live events
distribution agreement post COVID-19, (e) depreciation and
amortization (including goodwill impairment, if any), and (f)
certain stock-based compensation expense. Management does not
consider these costs to be indicative of our core operating
results.
With respect to projected full year 2024 and 2025 Adjusted
EBITDA, a quantitative reconciliation is not available without
unreasonable efforts due to the high variability, complexity and
low visibility with respect to purchase accounting adjustments,
acquisition-related charges and legal settlement reserves excluded
from Adjusted EBITDA. We expect that the variability of these items
to have a potentially unpredictable, and potentially significant,
impact on our future GAAP financial results.
For more information on these non-GAAP financial measures,
please see the tables entitled “Reconciliation of Non-GAAP Measure
to GAAP Measure” included at the end of this
release.
LiveOne IR
Contact:Liviakis Financial Communications, Inc(415)
389-4670john@liviakis.com
Press Contact:LiveOnepress@liveone.com
Financial Information
The tables below present financial results for the three months
and nine months ended December 31, 2023 and 2022.
LiveOne,
Inc. Consolidated
Statements of Operations (Unaudited)(In thousands,
except share and per share amounts)
|
|
Three Months EndedDecember
31, |
|
|
Nine Months EndedDecember
31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue: |
|
$ |
31,245 |
|
|
|
$ |
27,309 |
|
|
|
$ |
87,541 |
|
|
|
$ |
74,063 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
23,267 |
|
|
|
|
19,362 |
|
|
|
|
63,015 |
|
|
|
|
48,487 |
|
|
|
Sales and marketing |
|
|
1,514 |
|
|
|
|
1,608 |
|
|
|
|
5,671 |
|
|
|
|
6,334 |
|
|
|
Product development |
|
|
694 |
|
|
|
|
1,035 |
|
|
|
|
3,379 |
|
|
|
|
3,892 |
|
|
|
General and administrative |
|
|
5,880 |
|
|
|
|
4,535 |
|
|
|
|
17,641 |
|
|
|
|
11,220 |
|
|
|
Impairment of intangible assets |
|
|
115 |
|
|
|
|
- |
|
|
|
|
115 |
|
|
|
|
1,356 |
|
|
|
Amortization of intangible assets |
|
|
528 |
|
|
|
|
1,343 |
|
|
|
|
1,227 |
|
|
|
|
4,098 |
|
|
|
Total operating expenses |
|
|
31,998 |
|
|
|
|
27,883 |
|
|
|
|
91,048 |
|
|
|
|
75,387 |
|
|
|
Loss from
operations |
|
|
(753 |
) |
|
|
|
(574 |
) |
|
|
|
(3,507 |
) |
|
|
|
(1,324 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
(1,279 |
) |
|
|
|
(2,220 |
) |
|
|
|
(3,477 |
) |
|
|
|
(5,793 |
) |
|
|
Other income (expense) |
|
|
(207 |
) |
|
|
|
257 |
|
|
|
|
(3,639 |
) |
|
|
|
2,523 |
|
|
|
Total other expense, net |
|
|
(1,486 |
) |
|
|
|
(1,963 |
) |
|
|
|
(7,116 |
) |
|
|
|
(3,270 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision
for income taxes |
|
|
(2,239 |
) |
|
|
|
(2,537 |
) |
|
|
|
(10,623 |
) |
|
|
|
(4,594 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income
taxes |
|
|
(15 |
) |
|
|
|
11 |
|
|
|
|
43 |
|
|
|
|
15 |
|
|
|
Net loss |
|
$ |
(2,224 |
) |
|
|
$ |
(2,548 |
) |
|
|
$ |
(10,666 |
) |
|
|
$ |
(4,609 |
) |
|
|
Net
loss attributable to non-controlling interest |
|
|
(307 |
) |
|
|
|
- |
|
|
|
|
(654 |
) |
|
|
|
- |
|
|
|
Net loss attributed to
LiveOne |
|
|
(1,917 |
) |
|
|
$ |
(2,548 |
) |
|
|
$ |
(10,012 |
) |
|
|
$ |
(4,609 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share –
basic and diluted |
|
$ |
(0.03 |
) |
|
|
$ |
(0.03 |
) |
|
|
$ |
(0.14 |
) |
|
|
$ |
(0.05 |
) |
|
|
Weighted average common shares – basic and
diluted |
|
|
87,745,892 |
|
|
|
|
85,585,117 |
|
|
|
|
87,335,348 |
|
|
|
|
84,009,003 |
|
|
|
LiveOne,
Inc.Consolidated Balance Sheets
(Unaudited)(In thousands)
|
|
December 31, |
|
|
March 31, |
|
|
|
2023 |
|
|
2023 |
|
|
Assets |
|
|
|
|
(Audited) |
|
Current
Assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
6,248 |
|
|
$ |
8,409 |
|
|
Restricted cash |
|
|
205 |
|
|
|
240 |
|
|
Accounts receivable, net |
|
|
16,057 |
|
|
|
13,658 |
|
|
Inventories |
|
|
2,092 |
|
|
|
2,596 |
|
|
Prepaid expense and other current assets |
|
|
1,557 |
|
|
|
2,823 |
|
|
Total Current
Assets |
|
|
26,159 |
|
|
|
27,726 |
|
|
Property and equipment, net |
|
|
3,634 |
|
|
|
3,325 |
|
|
Goodwill |
|
|
23,379 |
|
|
|
23,379 |
|
|
Intangible assets, net |
|
|
12,536 |
|
|
|
11,035 |
|
|
Other assets |
|
|
122 |
|
|
|
423 |
|
|
Total
Assets |
|
$ |
65,830 |
|
|
$ |
65,888 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities, Mezzanine Equity and Stockholders’ Equity
(Deficit) |
|
|
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
23,748 |
|
|
$ |
22,772 |
|
|
Accrued royalties |
|
|
15,453 |
|
|
|
12,826 |
|
|
Notes payable, current portion |
|
|
694 |
|
|
|
15 |
|
|
Deferred revenue |
|
|
788 |
|
|
|
992 |
|
|
Senior secured line of credit |
|
|
7,000 |
|
|
|
- |
|
|
Bridge loan |
|
|
- |
|
|
|
4,726 |
|
|
Derivative liabilities |
|
|
- |
|
|
|
3,148 |
|
|
Total Current
Liabilities |
|
|
47,683 |
|
|
|
44,479 |
|
|
Senior secured line of credit, noncurrent |
|
|
- |
|
|
|
7,000 |
|
|
Notes payable, net |
|
|
941 |
|
|
|
148 |
|
|
Lease liabilities, noncurrent |
|
|
- |
|
|
|
161 |
|
|
Derivative liabilities, noncurrent |
|
|
279 |
|
|
|
376 |
|
|
Other long-term liabilities |
|
|
7,406 |
|
|
|
9,578 |
|
|
Deferred income taxes |
|
|
332 |
|
|
|
332 |
|
|
Total
Liabilities |
|
|
56,641 |
|
|
|
62,074 |
|
|
|
|
|
|
|
|
|
|
|
Commitments and
Contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mezzanine
Equity |
|
|
|
|
|
|
|
|
Redeemable convertible
preferred stock, $0.001 par value; 10,000,000 shares authorized;
5,000 shares issued and outstanding as of December 31, 2023 and
March 31, 2023, respectively |
|
|
4,933 |
|
|
|
4,827 |
|
|
Stockholders’ Equity
(Deficit) |
|
|
|
|
|
|
|
|
Preferred stock, $0.001 par value; 10,000,000 shares authorized;
18,604 and 16,177 shares issued and outstanding as of December 31,
2023 and March 31, 2023, respectively |
|
|
18,604 |
|
|
|
16,177 |
|
|
Common stock, $0.001 par value; 500,000,000 shares authorized;
91,625,688 and 89,632,161 shares issued and outstanding,
respectively |
|
|
91 |
|
|
|
90 |
|
|
Additional paid in capital |
|
|
216,445 |
|
|
|
209,151 |
|
|
Treasury stock |
|
|
(3,863 |
) |
|
|
(2,162 |
) |
|
Accumulated deficit |
|
|
(236,297 |
) |
|
|
(224,269 |
|
) |
Total stockholders’ deficit |
|
|
(5,020 |
) |
|
|
(1,013 |
|
) |
Non-controlling interest |
|
|
9,276 |
|
|
|
- |
|
|
Total equity (deficit) |
|
|
4,256 |
|
|
|
(1,013 |
|
) |
Total Liabilities,
Mezzanine Equity and Stockholders’ Equity (Deficit) |
|
$ |
65,830 |
|
|
$ |
65,888 |
|
|
LiveOne,
Inc.Reconciliation of Non-GAAP Measure to GAAP
MeasureAdjusted EBITDA* Reconciliation
(Unaudited)(In thousands)
|
|
Net Income(Loss) |
|
|
Depreciation andAmortization |
|
|
Stock-BasedCompensation |
|
|
Non-RecurringAcquisition andRealignmentCosts
(1) |
|
|
Other(Income)Expense
(2) |
|
|
(Benefit)Provisionfor
Taxes |
|
|
AdjustedEBITDA* |
|
Three Months Ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations – PodcastOne |
|
$ |
(2,600 |
) |
|
$ |
372 |
|
|
$ |
1,786 |
|
|
$ |
86 |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
$ |
(356 |
) |
Operations – Slacker |
|
|
5,127 |
|
|
|
749 |
|
|
|
(178 |
) |
|
|
116 |
|
|
|
972 |
|
|
|
- |
|
|
|
|
6,786 |
|
Operations – Other |
|
|
(3,148 |
) |
|
|
361 |
|
|
|
266 |
|
|
|
129 |
|
|
|
26 |
|
|
|
- |
|
|
|
|
(2,366 |
) |
Corporate |
|
|
(1,603 |
) |
|
|
3 |
|
|
|
381 |
|
|
|
(5 |
) |
|
|
488 |
|
|
|
(15 |
|
) |
|
|
(751 |
) |
Total |
|
$ |
(2,224 |
) |
|
$ |
1,485 |
|
|
$ |
2,255 |
|
|
$ |
326 |
|
|
$ |
1,486 |
|
|
$ |
(15 |
|
) |
|
$ |
3,,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations – PodcastOne |
|
$ |
(2,078 |
) |
|
$ |
86 |
|
|
$ |
166 |
|
|
$ |
- |
|
|
$ |
1,345 |
|
|
$ |
- |
|
|
|
$ |
(481 |
) |
Operations – Slacker |
|
|
6,837 |
|
|
|
2,084 |
|
|
|
182 |
|
|
|
102 |
|
|
|
284 |
|
|
|
- |
|
|
|
|
9,489 |
|
Operations – Other |
|
|
(5,154 |
) |
|
|
239 |
|
|
|
78 |
|
|
|
329 |
|
|
|
(470 |
) |
|
|
27 |
|
|
|
|
(4,951 |
) |
Corporate |
|
|
(2,153 |
) |
|
|
6 |
|
|
|
296 |
|
|
|
73 |
|
|
|
804 |
|
|
|
(16 |
) |
|
|
|
(990 |
) |
Total |
|
$ |
(2,548 |
) |
|
$ |
2,415 |
|
|
$ |
722 |
|
|
$ |
504 |
|
|
$ |
1,963 |
|
|
$ |
11 |
|
|
|
$ |
3,067 |
|
|
|
Net Income(Loss) |
|
|
Depreciation andAmortization |
|
|
Stock-BasedCompensation |
|
|
Non-RecurringAcquisition andRealignmentCosts
(1) |
|
|
Other(Income)Expense
(2) |
|
|
(Benefit)Provisionfor
Taxes |
|
|
AdjustedEBITDA* |
|
Nine Months Ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations – PodcastOne |
|
$ |
(13,683 |
) |
|
$ |
710 |
|
|
$ |
2,724 |
|
|
$ |
804 |
|
|
|
$ |
9,850 |
|
|
$ |
- |
|
|
|
$ |
405 |
|
Operations – Slacker |
|
|
7,377 |
|
|
|
2,156 |
|
|
|
1,036 |
|
|
|
989 |
|
|
|
|
993 |
|
|
|
- |
|
|
|
|
12,551 |
|
Operations – Other |
|
|
136 |
|
|
|
789 |
|
|
|
478 |
|
|
|
394 |
|
|
|
|
(2,633 |
) |
|
|
- |
|
|
|
|
(836 |
) |
Corporate |
|
|
(4,496 |
) |
|
|
13 |
|
|
|
1,611 |
|
|
|
(5 |
) |
|
|
|
(1,094 |
) |
|
|
43 |
|
|
|
|
(3,928 |
) |
Total |
|
$ |
(10,666 |
) |
|
$ |
3,668 |
|
|
$ |
5,849 |
|
|
$ |
2,182 |
|
|
|
$ |
7,116 |
|
|
$ |
43 |
|
|
|
$ |
8,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations – PodcastOne |
|
$ |
(3,016 |
) |
|
$ |
241 |
|
|
$ |
751 |
|
|
$ |
- |
|
|
|
$ |
2,000 |
|
|
$ |
- |
|
|
|
$ |
(24 |
) |
Operations – Slacker |
|
|
10,349 |
|
|
|
6,025 |
|
|
|
622 |
|
|
|
193 |
|
|
|
|
1,227 |
|
|
|
- |
|
|
|
|
18,416 |
|
Operations – Other |
|
|
(5,297 |
) |
|
|
2,097 |
|
|
|
296 |
|
|
|
524 |
|
|
|
|
(2,564 |
) |
|
|
27 |
|
|
|
|
(4,917 |
) |
Corporate |
|
|
(6,645 |
) |
|
|
18 |
|
|
|
1,237 |
|
|
|
(1,245 |
|
) |
|
|
2,607 |
|
|
|
(12 |
) |
|
|
|
(4,040 |
) |
Total |
|
$ |
(4,609 |
) |
|
$ |
8,381 |
|
|
$ |
2,906 |
|
|
$ |
(528 |
|
) |
|
$ |
3,270 |
|
|
$ |
15 |
|
|
|
$ |
9,435 |
|
|
(1 |
) |
|
Other Non-Operating and Non-Recurring Costs include outside legal,
accounting and other professional fees directly attributable to
acquisition activity in the period, in addition to certain
non-recurring expenses associated with legal settlements or
reserves for legal settlements in the period that pertain to
historical matters that existed at certain acquired companies prior
to their purchase date and non-recurring employee severance
payments and to a lesser extent, a one-time minimum guarantee to
effectively terminate a live-event distribution agreement post
COVID-19. |
|
(2 |
) |
|
Other (income) expense above primarily includes interest expense,
net, change in derivative fair value and loss on extinguishment of
debt. These are included in the statement of operations in other
income (expense) and are an add back to net loss above in the
reconciliation of Adjusted EBITDA* to loss. |
|
* |
See the definition of Adjusted EBITDA under “About Non-GAAP
Financial Measures” within this release. |
LiveOne,
Inc.Reconciliation of Non-GAAP Measure to GAAP
Measure Contribution Margin* Reconciliation
(Unaudited)(In thousands)
|
|
Three Months Ended December
31, |
|
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
Revenue: |
|
$ |
31,245 |
|
|
$ |
27,309 |
|
Less: |
|
|
|
|
|
|
|
|
Cost of sales |
|
|
(23,267 |
) |
|
|
(19,362 |
) |
Amortization of developed
technology |
|
|
(775 |
) |
|
|
(964 |
) |
Gross Profit |
|
|
7,203 |
|
|
|
6,983 |
|
|
|
|
|
|
|
|
|
|
Add back amortization
of developed technology: |
|
|
775 |
|
|
|
964 |
|
|
Contribution Margin* |
|
$ |
7,978 |
|
|
$ |
7,947 |
|
|
|
|
Nine Months Ended December
31, |
|
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
Revenue: |
|
$ |
87,541 |
|
|
$ |
74,063 |
|
Less: |
|
|
|
|
|
|
|
|
Cost of sales |
|
|
(63,015 |
) |
|
|
(48,487 |
) |
Amortization of developed
technology |
|
|
(2,248 |
) |
|
|
(2,892 |
) |
Gross Profit |
|
|
22,278 |
|
|
|
22,684 |
|
|
|
|
|
|
|
|
|
|
Add back amortization
of developed technology: |
|
|
2,248 |
|
|
|
2,892 |
|
|
Contribution Margin* |
|
$ |
24,526 |
|
|
$ |
25,576 |
|
|
|
* |
See the definition of Contribution Margin under “About Non-GAAP
Financial Measures” within this release. |
LiveOne (NASDAQ:LVO)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
LiveOne (NASDAQ:LVO)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024