LiveOne, Inc. Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

LiveOne Inc. Fiscal Q2 2022 Earnings Summary

  • Quarterly Revenue: $21.9 million for Q2 FY22, up 50% compared to $14.6 million in Q2 FY21.
  • 6-Month Revenue: $60.7 million, up 142% year-over-year compared to $25 million in the same period of FY21.
  • Contribution Margin (Q2): $5.9 million, a 37% increase year-over-year.
  • Contribution Margin (6-Month): $13.7 million, up 93% compared to prior year period.
  • Adjusted Operating Loss (Q2): $(2.1) million vs. $(1.4) million in Q2 FY21.
  • Adjusted Operating Loss (6-Month): $(3.8) million vs. $(1.4) million in the prior year period.
  • Paid Subscribers: Grew to 1.26 million, a 34% increase year-over-year.
  • Cash Balance: $16.7 million, including $260,000 in restricted cash.
  • Guidance: Revenue guidance for FY22 reaffirmed at $115 million to $125 million. Adjusted operating income outlook lowered to breakeven to $3 million due to COVID-19 delta variant impact and long-term investments.

Business Highlights

  • Held the Spring Awakening Music Festival, selling 33,000 tickets and signing 25,000 new members.
  • Over 100 live concerts and festivals booked, featuring 300+ artists in the next 6 months.

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Operator: Good afternoon, everyone, and welcome to the LiveOne Inc. Fiscal 2022 Q2 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please also note today's event is being recorded. At this time, I'd like to turn the conference call over to Michael Quartieri, Chief Financial Officer. Sir, please go ahead. Michael Quartieri: Thank you. Good afternoon, and welcome to LiveOne's business update and financial results conference call for the company's second quarter and 6-month period ended September 30, 2021. Presenting on today's call are Rob Ellin, CEO and Chairman; Dermot McCormack, President; and myself, Mike Quartieri, Executive Vice President and Chief Financial Officer. I'd 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, includi

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