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LiveOne (LVO) Q4 Loss Wider Than Expected, Revenues Up Y/Y
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LiveOne (LVO - Free Report) incurred a fourth-quarter fiscal 2024 loss of 3 cents per share compared with a loss of 6 cents a year ago. The figure was wider than the Zacks Consensus Estimate of a loss of 1 cent.
Revenues increased 21% year over year to $30.9 million and beat the consensus mark of $30 million. Despite the competitive market landscape, LVO reported top-line expansion year over year due to steady traction in the Audio Division coupled with cost-cutting measures and resource optimization strategies.
For the three months ended March 2024, Slacker Radio recorded net sales of $17.6 million, up nearly 25% year over year. PodcastOne’s net sales soared 32% year over year to $11.7 million. PodcastOne’s 73% stake is owned by LVO due to which its financial results are consolidated under this company.
For fiscal 2024, LiveOne generated revenues of $118.4 million, up 19% year over year. The Audio Division, encompassing Slacker Radio and PodcastOne, posted revenues of $109.3 million for fiscal 2024, representing a robust 26% growth from the previous year.
Also, paid members increased by 675,000 or 30% as of March end 2024. The total member count, including free ad-supported memberships, was roughly 3.75 million as of May 25, 2024, underscoring the company's growing user base.
Furthermore, LVO has undertaken a share buyback program, repurchasing 4.3 million total shares, including 392,000 shares since Apr 1, at an average price of $1.86. The company currently has $4.5 million remaining under its $10 million repurchase program.
During the fiscal fourth quarter, adjusted non-GAAP EBITDA (excluding the CPS division) soared 124% year over year to $4.4 million. For fiscal 2024, adjusted non-GAAP EBITDA (excluding CPS division) was $14.1 million. Additionally, the Audio Division's adjusted EBITDA reached $20.6 million, marking a 17% increase from the prior year.
Operating loss during the quarter totaled $1.2 million compared with operating loss of $0.9 million in the prior-year quarter. Rising stock-based compensation expenses led to the downtick.
Capital expenditure during the quarter was nearly $0.8 million, including capitalized software costs, which form an integral part of the development of LiveOne’s integrated music player and pay-per-view services.
Outlook
For fiscal 2025, revenues are projected in the range of $140-$155 million.
Adjusted EBITDA is expected to be in the band of $16-$20 million.
It expects the Audio Division to record revenues ranging from $130-$140 million, with an adjusted EBITDA target of $20-$25 million.
Woodward (WWD - Free Report) reported adjusted net earnings per share (EPS) of $1.62 for second-quarter fiscal 2024, which beat the Zacks Consensus Estimate by 26.6%. In the year-ago quarter, WWD reported adjusted net EPS of $1.01.
WWD’s shares have gained 75.5% in the past year compared to industry’s growth of 35%. In the last quarter, it delivered an earnings surprise of 26.56%.
Badger Meter, Inc (BMI - Free Report) reported EPS of 99 cents for first-quarter 2024, which beat the Zacks Consensus Estimate by 16.5%. Also, the bottom line compared favorably with the year-ago quarter’s EPS of 66 cents.
Shares of BMI have gained 39.6% compared with the sub-industry’s growth of 35% in the past year. In the last quarter, it delivered an earnings surprise of 16.47%.
Thermon Group (THR - Free Report) reported fourth-quarter fiscal 2024 adjusted EPS of 34 cents, which surpassed the Zacks Consensus Estimate of 32 cents. The bottom line fell 17% year over year.
Shares of THR have gained 51.9% compared with the sub-industry’s growth of 35% in the past year. In the last quarter, it delivered an earnings surprise of 6.25%.
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LiveOne (LVO) Q4 Loss Wider Than Expected, Revenues Up Y/Y
LiveOne (LVO - Free Report) incurred a fourth-quarter fiscal 2024 loss of 3 cents per share compared with a loss of 6 cents a year ago. The figure was wider than the Zacks Consensus Estimate of a loss of 1 cent.
Revenues increased 21% year over year to $30.9 million and beat the consensus mark of $30 million. Despite the competitive market landscape, LVO reported top-line expansion year over year due to steady traction in the Audio Division coupled with cost-cutting measures and resource optimization strategies.
For the three months ended March 2024, Slacker Radio recorded net sales of $17.6 million, up nearly 25% year over year. PodcastOne’s net sales soared 32% year over year to $11.7 million. PodcastOne’s 73% stake is owned by LVO due to which its financial results are consolidated under this company.
For fiscal 2024, LiveOne generated revenues of $118.4 million, up 19% year over year. The Audio Division, encompassing Slacker Radio and PodcastOne, posted revenues of $109.3 million for fiscal 2024, representing a robust 26% growth from the previous year.
Also, paid members increased by 675,000 or 30% as of March end 2024. The total member count, including free ad-supported memberships, was roughly 3.75 million as of May 25, 2024, underscoring the company's growing user base.
Furthermore, LVO has undertaken a share buyback program, repurchasing 4.3 million total shares, including 392,000 shares since Apr 1, at an average price of $1.86. The company currently has $4.5 million remaining under its $10 million repurchase program.
LiveOne, Inc. Price, Consensus and EPS Surprise
LiveOne, Inc. price-consensus-eps-surprise-chart | LiveOne, Inc. Quote
Other Details
During the fiscal fourth quarter, adjusted non-GAAP EBITDA (excluding the CPS division) soared 124% year over year to $4.4 million. For fiscal 2024, adjusted non-GAAP EBITDA (excluding CPS division) was $14.1 million. Additionally, the Audio Division's adjusted EBITDA reached $20.6 million, marking a 17% increase from the prior year.
Operating loss during the quarter totaled $1.2 million compared with operating loss of $0.9 million in the prior-year quarter. Rising stock-based compensation expenses led to the downtick.
Capital expenditure during the quarter was nearly $0.8 million, including capitalized software costs, which form an integral part of the development of LiveOne’s integrated music player and pay-per-view services.
Outlook
For fiscal 2025, revenues are projected in the range of $140-$155 million.
Adjusted EBITDA is expected to be in the band of $16-$20 million.
It expects the Audio Division to record revenues ranging from $130-$140 million, with an adjusted EBITDA target of $20-$25 million.
Zacks Rank
LVO currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Woodward (WWD - Free Report) reported adjusted net earnings per share (EPS) of $1.62 for second-quarter fiscal 2024, which beat the Zacks Consensus Estimate by 26.6%. In the year-ago quarter, WWD reported adjusted net EPS of $1.01.
WWD’s shares have gained 75.5% in the past year compared to industry’s growth of 35%. In the last quarter, it delivered an earnings surprise of 26.56%.
Badger Meter, Inc (BMI - Free Report) reported EPS of 99 cents for first-quarter 2024, which beat the Zacks Consensus Estimate by 16.5%. Also, the bottom line compared favorably with the year-ago quarter’s EPS of 66 cents.
Shares of BMI have gained 39.6% compared with the sub-industry’s growth of 35% in the past year. In the last quarter, it delivered an earnings surprise of 16.47%.
Thermon Group (THR - Free Report) reported fourth-quarter fiscal 2024 adjusted EPS of 34 cents, which surpassed the Zacks Consensus Estimate of 32 cents. The bottom line fell 17% year over year.
Shares of THR have gained 51.9% compared with the sub-industry’s growth of 35% in the past year. In the last quarter, it delivered an earnings surprise of 6.25%.