LiveOne, Inc. Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

LiveOne Inc. Q2 Fiscal 2023 Earnings Summary

  • Quarter Ending: September 30, 2022
  • Total Consolidated Revenue: $23.5 million for Q2, $46.8 million for the six-month period
  • Adjusted EBITDA: $4.4 million for Q2, up significantly compared to $6.4 million over six months
  • GAAP Net Loss: $3.4 million in Q2, $21.1 million for six months
  • Paid Subscribers: 1.8 million as of November 9, 2022 — net increase of 209,000 from June 30, 2022
  • Total Members (including free): 2.6 million as of November 9, 2022

Audio Division Highlights

  • Revenue: $21.1 million in Q2; $42 million over six months
  • Adjusted EBITDA: $6.5 million in Q2; $9.8 million YTD
  • Revenue Composition (Q2): 53% subscription; 47% advertising, sponsorship, and merchandising — a shift from prior year’s 45%/55% mix
  • FY2023 Projected Revenue: In excess of $88 million
  • FY2023 Projected EBITDA: Approximately $17 million

Strategic Initiatives & Business Developments

  • Implemented $25 million in cost savings over three quarters, including $2 million in Q2 via consolidation of six previous acquisitions

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Company Representatives: Rob Ellin - Chief Executive Officer, Chairman Aaron Sullivan - Interim Chief Financial Officer Operator: Good afternoon. Thank you for attending today’s LiveOne Inc. Q2 Fiscal 2023 Business Update and Earnings Call. My name is Tamia and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]. It is now my pleasure to pass the conference over to your host Aaron Sullivan, Interim CFO. Please proceed. Aaron Sullivan: Thank you. Good afternoon and welcome to LiveOne’s business updated and financial results conference call for the company’s second quarter of the fiscal year ended March 31, 2023. Presenting on today's call are Rob Ellin, CEO and Chairman and myself, Aaron Sullivan, Interim CFO. 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 in 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 more information about factors which could cause the company's actual results to differ mat

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional