LiveOne, Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $9.7 million, up 8% year-over-year
  • Contribution Margin: $2.1 million, an increase of 50% y/y
  • Adjusted Operating Loss: $2.1 million, improved 19% y/y
  • Cash: $14 million, up from $13.7M at March 31, 2019
  • Paid Subscribers: 820,000, up 28% y/y
  • Livestream Events: 36 YTD, versus 25 in full-year FY2019
  • Average Cost per Event: Reduced to $150,000 from $300,000 y/y
  • Debt: $15.8 million (includes $2.8M potential equity conversion)

Major Announcements

  • Acquisition of React Presents: A key EDM event company with over 250 annual events and $15M calendar year 2019 revenue. Acquired for $2M in convertible debt (2-year term, 8% interest, convertible at $4.50/share).
  • Strategic Fit: Event ownership increases audience, direct artist partnerships, and subscription conversions from ticket buyers. The acquisition is expected to be EBITDA-accretive and non-dilutive.
  • Live Event Strategy: Expand monetization through ticketing, merchandising, artist engagement, and event rights. Plans for more acquisitions in the near future.

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Operator: Good day. And welcome to the LiveXLive Media Third Quarter 2020 Earnings Conference Call and Webcast. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Emily Greenstein, Investor Relations. Please go ahead. Emily Greenstein;The Blueshirt Group;Associate: Thank you. Good morning, and welcome to LiveXLive Media's business update and financial results conference call for the company's third quarter ended December 31, 2019. Joining me on today's call are Rob Ellin, CEO and Chairman; and Mike Zemetra, 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 future growth in the business. Actual results may differ materially from those discussed on this call for a variety of reasons. Please refer to our filings with the SEC for information about factors, which could cause our actual results to differ materially from these forward-looking statements, including those described in the company's annual report on Form 10-K for the year ended March 31, 2019, the company's quarterly report on Form 10-Q for the quarter ended December 31, 2019, and subsequent SEC filings. You will find reconciliations of no

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