LiveOne (NASDAQ:LVO) said it is targeting fiscal 2027 revenue of $85 million to $95 million and adjusted EBITDA of $8 million to $10 million after reporting fiscal 2026 consolidated revenue of $77.1 million and adjusted EBITDA of negative $900,000.
During a company presentation, an unnamed LiveOne representative said the company recently reported quarterly consolidated revenue of approximately $19.3 million to $19.4 million and adjusted EBITDA of $4.3 million. The company said its audio business generated $6 million of EBITDA during the quarter, while its podcast business produced record revenue of $16 million and EBITDA of $1.6 million, representing 172% year-over-year growth, according to the presentation.
LiveOne said it has reduced operating expenses by 52% year over year through AI-driven efficiency efforts and workforce reductions. The company said its headcount declined from roughly 350 employees to about 80 employees. It also reported increasing cash by more than $3.3 million, increasing stockholders’ equity by nearly $7 million and reducing liabilities by $5.5 million.
Portfolio Includes Audio, Podcasting and Live Events
The company outlined a business model spanning music subscriptions, podcasting, live streaming and pay-per-view events, merchandise and music publishing. Its Slacker Radio service is positioned as a lower-priced, white-label audio offering, according to the presentation.
LiveOne said Slacker has 50 million tracks, 500 curated music channels, more than 400,000 hours of podcast episodes and 100 million downloads. The company also cited more than 82 billion audio listens and a net promoter score of 55.
Its PodcastOne unit has more than 190 exclusive shows and distributes 350 hours of weekly content across 220 countries, LiveOne said. The company said PodcastOne had more than 3.9 billion annual podcast downloads across its network, 19 million monthly downloads and 5.8 million monthly unique users. It said the network ranked sixth on Podtrac for a second consecutive month.
The company highlighted programming relationships involving Dr. Phil, Adam Carolla, LadyGang and other hosts. It also said it acquired rights to “The Magnificent Others” with Billy Corgan.
In response to an analyst question, the LiveOne representative said podcast arrangements vary by show, with revenue-sharing terms generally ranging from 50/50 to 70/30 in favor of talent depending on the amount of work performed by the company. LiveOne said it retains rights connected to podcast advertising and may also participate in ancillary revenue opportunities including live events, pay-per-view programming and merchandise.
Distribution Partnerships and Retail Launch
LiveOne said it has announced partnerships with AT&T, LG, Samsung and VIZIO, in addition to relationships involving Paramount and Netflix. The company also said it signed a four-year white-label agreement with an unnamed major retailer that has more than 50 million monthly paying subscribers.
According to the presentation, LiveOne expects the retailer offering to launch between Nov. 15 and Dec. 31. The company said the partnership could include a mix of direct payments, partial payments from customers and advertising-supported access, depending on customer tiers.
The company said it is relaunching its pay-per-view business following a pause during the COVID-19 period. It cited a new boxing arrangement in which it expects to receive a television feed without cost and generate revenue through traffic, audience growth and advertising. Before COVID-19, LiveOne said its boxing pay-per-view operations generated more than $30 million in revenue and more than $5 million in EBITDA.
LiveOne also said it has refocused its merchandise business on celebrity-led brands involving podcasters, musicians and social-media personalities, rather than operating a broader merchandise platform.
AI Data Opportunity and Corporate Structure
The company identified its library of audio, video and code as a potential opportunity for AI training data. LiveOne said it has more than 500,000 hours of audio content, more than 250,000 hours of video content and approximately 2 billion lines of code accumulated over 22 years. The representative said AI companies are paying between $100 and $500 per hour of content for training models, though LiveOne did not provide revenue projections related to data licensing.
LiveOne said PodcastOne operates with a separate board, although some directors overlap with LiveOne’s board. The company also said it has retained JPMorgan to evaluate inbound interest and potential alternatives intended to increase shareholder value. The representative said LiveOne is not actively seeking a sale but would consider transactions if an appropriate offer emerged.
The company said PodcastOne and LiveOne are operationally connected, with PodcastOne content included in LiveOne’s broader app and distribution offerings.
Share Repurchases
LiveOne said it expanded its stock-repurchase authorization from $7 million to $12 million and had about $5 million remaining under the program. The company said it repurchased more than $1 million of LiveOne shares during the prior quarter and also repurchased 2.2 million PodcastOne shares.
The presenter said LiveOne had eliminated more than $15 million of liabilities through conversions at $7.50 per share and had completed a $10 million financing approximately eight months earlier at the same price. The company said subscription renewals are typically annual and that it expects to collect substantial subscription cash during the coming months.
About LiveOne (NASDAQ:LVO)
LiveOne, Inc (NASDAQ: LVO) is a digital media and entertainment company that provides live and on-demand audio and video programming. Its platform features music streaming, live concert and event broadcasts, podcasts, artist and creator content, and other forms of digital entertainment delivered through connected devices and online channels.
The company operates a portfolio of entertainment brands and services, including the LiveOne music and entertainment platform, Slacker Radio and PodcastOne.
