LiveOne, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Total Fiscal Year 2023 Revenue: $99.6 million, an increase from $91.9 million in FY2022.
  • Adjusted EBITDA: FY2023 adjusted EBITDA was $10.9 million, a significant jump from FY2022’s adjusted EBITDA of -$13.5 million — an improvement of $24.4 million.
  • Q4 Revenue: $25.5 million; Audio Division composed $22.9 million of this total.
  • Total Paid Members as of June 26, 2023: 2.2 million, up 292,000 or 15% from December 31, 2022.
  • Total Members (including free users): 3.1 million.
  • Cash Position: Ended Q4 FY23 with $8.7 million in cash (including $300,000 in restricted cash).

FY2024 Guidance (Raised)

  • LiveOne (Consolidated): Revenue guidance: $122 million–$130 million; Adjusted EBITDA of $12 million–$16 million.
  • Audio Division (Slacker + PodcastOne): Revenue of $100 million–$110 million; Adjusted EBITDA: $18 million–$21 million; Over $12 million in operating cash flow expected.
  • PodcastOne (Standalone): Raised pre-acquisition FY2024 revenue projection to $40 million–$45 million, up from $33 million–$35 million.

Business Highlights

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Operator: Good morning, and welcome to the LiveOne, Inc. Fourth Quarter Fiscal 2023 Financial Results and Business Conference Call. My name is Carla, and I will be operating this call. [Operator Instructions] I will now hand over to your host, Aaron Sullivan, Interim CFO, to begin. Please go ahead. Aaron Sullivan: Thank you. Good morning, and welcome to LiveOne's business update and financial results conference call for the company's fourth quarter ended March 31, 2023. Presenting on today's call are Rob Ellin, CEO and Chairman; Kit Gray, President of PodcastOne; Bradley Konkol, Head of Slacker; John Semmelhack, President of CPS; Josh Hallbauer, Head of Music; 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 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, 2022 and s

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