LiveOne, Inc. Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarter End: June 30, 2023
  • Call Date: August 10, 2023
  • CEO: Robert Ellin

Financial Highlights

  • Revised Revenue Guidance: $123M–$130M (previously unannounced).
  • Audio Division (Slacker Radio):
    • Revenue guidance increased to $103M–$110M.
    • EBITDA expected between $18M–$21M.
    • Subscriber growth of 800,000 YoY (50% increase).
    • ARPU over $3.
    • Goal to exceed 15 million subscribers by 2027 (prior guidance: 10 million).
  • Podcast Division (PodcastOne):
    • Q1 revenue: $10.6M (run-rate of $42M).
    • Post-acquisition (Kast Media & Fantasy Guru) run-rate projected at $50M+.
    • 2027 revenue target: $250M.
    • Podcast count increased to 250 (150% YoY growth).
    • Sponsor base increased from pre-COVID 10 to over 700.
    • Currently ranked #10 on PodTrac; expected to enter top 7 this year.
    • Trading under symbol "PODC" expected in 2–4 weeks.
  • Pay-Per-View & Live Streaming:
    • 2027 revenue target: $100M.
    • $28M delivered during COVID with $4M EBITDA.

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Operator: Good morning or good afternoon all, and welcome to the LiveOne Inc. Q1 Fiscal 2024 Financial Results and Business Update Webcast. My name is Adam, and I will be your operator for today. [Operator Instructions] I will now hand the floor to Aaron Sullivan to begin. Aaron, please go ahead when you are ready. Aaron Sullivan : Good morning, and welcome to Live One's business update and financial results conference call for the company's first quarter ended June 30, 2023. Presenting on today's call is Rob Ellin, CEO and Chairman of LiveOne. 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 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 ended March 31, 2023, and subsequent SEC filings. You'll find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed today in the comp

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