LiveOne, Inc. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarter Ended: September 30, 2020
  • Record Revenue: $14.6 million, up 52% YoY from $9.6 million in Q2 FY2020
  • Adjusted Operating Loss: $1.4 million, a 62% improvement from $3.7 million loss YoY
  • Contribution Margin: Increased 148% YoY to $4.3 million from $1.1 million, supported by growth in sponsorship/ad revenue and margins rising to 29.3% from 11.8%
  • Revenue By Segment: 53% subscriptions, 39% sponsorship/advertising/licensing, 8% pay-per-view vs. 94% subscriptions, 6% advertising in prior year
  • Paying Subscribers: 936,000 as of Q2 end — up 161,000 from prior quarter (notably includes disputed Tesla-related subs held from revenue recognition)
  • Live Events: 29 events produced with 75+ million views vs. 8 events in prior year; average cost per event decreased substantially from $262k to $28k
  • Balance Sheet Highlights: $21 million in cash, up $8.5 million YoY; $18.5 million increase in working capital; shareholder equity grew by $20.3 million
  • Revenue Guidance Raised: New FY2021 guidance of $63.5 million to $69.5 million (previous guidance undisclosed, but raised due to momentum)

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Operator: Good day and welcome to the LiveXLive Media Q2 Fiscal 2021 Earnings and Business Update Webcast. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Tenia Muhammad, Investor Relations. Please go ahead. Tenia Muhammad: Thank you. Good afternoon and welcome to LiveXLive Media’s Business Update and Financial Results Conference Call for the company’s first quarter ended September 30, 2020. Joining me on today’s call are Rob Ellin, CEO and Chairman; Jerry Gold, Interim CFO; Dermot McCormack, President; and Norm Pattiz, Founder and Executive Chairman of LiveXLive’s wholly-owned subsidiary PodcastOne. 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 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, 2020, Quarterly Report on Form 10-Q in the quarter ende

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