LiveOne, Inc. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarter End: June 30, 2021
  • Date of Call: August 12, 2021
  • Participants: Rob Ellin (CEO & Chairman), Dermot McCormack (President), Mike Quartieri (CFO)

Financial Highlights

  • Revenue: $38.8 million, a record quarter and a 269% increase from $10.5 million in Q1 FY2021.
  • Contribution Margin: Record $7.8 million, up 175% from $2.8 million in Q1 FY2021.
  • Adjusted Operating Loss: $1.75 million, compared to a loss of $55K in the prior year quarter. Affected by seasonal losses from acquisitions and $700K royalty audit charge.
  • Adjusted Segment Operating Income: $1.2 million, flat year-over-year due to integration and strategic investments.
  • Cash Position: $24.7 million at quarter-end, highest in company history. $18.6 million as of August 11.
  • Paid Subscribers: 1.162 million, an increase over Q2 FY2021.

Business Developments

  • Revenue Diversification: Subscriptions now account for 23% (down from 84% in prior year). 77% now comes from advertising, sponsorship, merch, and events.

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Operator: Good afternoon and welcome to the LiveXLive Media, Inc., Q1 Fiscal 2022 Financial Results and Business Update Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Mike Quartieri, Executive Vice President and Chief Financial Officer. Please go ahead. Michael Quartieri: Thank you, Danial. Good afternoon and welcome to LiveXLive Media’s business update and financial results conference call for the company's first quarter ended June 30, 2021. Presenting on today's call are Rob Ellin, CEO and Chairman; Dermot McCormack, President; and myself, Mike Quartieri, the company's Chief Financial Officer. I would like to remind you that some of the statements made on today's call are forward-looking and are based on current expectations, forecasts, and assumptions that involve various risks and uncertainties. These statements include, but are not limited to statements regarding the future performance of the company, including expected future financial results and expected future growth of the business. Actual results may differ materially from those discussed on this call for a variety of reasons. Please refer to the company's filings with the SEC for information about factors which could cause the company’s actual results to differ materially from these forward-looking statements, including those described in its Annual Report on Form 10-K for the year e

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