LiveOne, Inc. Q4 FY2025 earnings call

• Financial performance: Over $112 million in revenues, $108 million from audio business, $18 million EBITDA (6M above guidance). Podcast business had Q4 revenue $14M, EBITDA over $900k; full year over $52M with raised guidance to $55-60M revenue and $3.5-5M EBITDA.
• Podcast business highlights: 6 straight months top 10 podcaster globally, over a billion impressions, 46 new podcasts in 24 months, 200+ total podcasts, 100+ new podcasts in pipeline, 17 potential acquisitions in podcast industry.
• Financial moves: Replaced East West Bank's $7.5M credit line with JGB's up to $27.5M credit facility, eliminated over $10M in short-term liabilities, cut 1/3 staff at Slacker Radio and over 70% at CPS.
• Future initiatives: B2B partnerships over $50M, largest B2B deal launching in August, Web3 crypto podcast network launched, AI used to cut costs, TV/film initiatives creating new revenue streams.
• Stock buyback: Bought back over 350k shares of LiveOne and over a million shares of PODC, with $6M+ room left for buybacks.

For the fourth quarter ended March 31, 2025, consolidated revenue was $19.3 million. The Audio division posted Q4 revenue of $18.2 million and adjusted EBITDA of $4.1 million. For the full year fiscal 2025, consolidated revenue was $114.4 million and adjusted EBITDA was $8.4 million. The Audio division had full year revenue of $108.9 million and adjusted EBITDA of $18.2 million. The PodcastOne subsidiary had Q4 revenue of $14 million and EBITDA over $900,000; full year podcast revenue was over $52 million, with guidance raised to $55 million to $60 million and EBITDA $3.5 million to $5 million. Podcast business highlights include 6 straight months as a top 10 podcaster globally, over a billion impressions, 46 new podcasts in 24 months, and 17 potential acquisitions in the podcast industry.

• Podcast business guidance revised to $55 million to $60 million in revenue and $3.5 million to $5 million in EBITDA.
• B2B initiatives expect growth with over 5 partnerships signed, $50 million+ in revenues, largest B2B deal set to launch in August.
• Web3 and AI initiatives anticipated to drive future growth through content and cost-cutting.

Forward-looking statements subject to risks and uncertainties where actual results may differ from expectations; dependence on successful execution of B2B partnerships and market acceptance of new initiatives like Web3 and AI remain potential risks.

Q: Rob, when you say fill rate of over 50%, can you clarify what it means financially?

A: Refers to advertising inventory filled, driving revenues and setting stage for subscriber conversion.

Q: Ryan, when will the 10-K be filed?

A: Hoping to be filed early next week, auditors finalizing documentation.

Q: Can you talk about new B2B deals and Web3 focus?

A: B2B momentum building with over $50M in revenues, Web3 focus on content creation in crypto space, not entering mining/trading businesses