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LiveOne (LVO) Q1 Loss Matches Estimates, Revenues Up Y/Y
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LiveOne (LVO - Free Report) incurred a first-quarter fiscal 2025 loss of 2 cents per share compared with a loss of 1 cent a year ago. The figure was in line with the Zacks Consensus Estimate.
Revenues increased 19% year over year to $33.1 million but missed the consensus mark by 0.1%. Despite the competitive market landscape, LVO's year-over-year top-line growth was fueled by the continued success of the Audio Division, a strong pipeline and the addition of four new partnerships.
For the three months ended June 2024, Slacker Radio recorded net sales of $18.7 million, driven by robust growth of B2B deals. LVO remains focused on B2B partnerships that now include four new major deals and 63 potential ones in the pipeline. LVO also clinched a $24 million partnership with a top streaming network, a Fortune 250 company, which is currently generating around $2 million in monthly revenues.
PodcastOne’s net sales came in at $13.2 million. PodcastOne’s 73% stake is owned by LVO due to which its financial results are consolidated under this company.
Also, paid members increased 653,000 or 29% year over year as of Jun 30, 2024. The total member count, including free ad-supported memberships, was roughly 3.9 million as of Jul 31, 2024, underscoring the company's steadily growing user base.
Additionally, LVO has expanded its stock buyback program to $12 million. The company has already repurchased and extinguished more than 4.38 million shares, with $6.3 million left for repurchase under the existing buyback plan.
During the fiscal first quarter, adjusted non-GAAP EBITDA was 2.9 million, up 31.8% and non-GAAP adjusted EBITDA (excluding the CPS division) was $3.3 million. The Audio Division's non-GAAP adjusted EBITDA reached $5.1 million.
Operating loss during the quarter totaled $0.8 million compared with operating loss of $0.3 million in the prior-year quarter. The wider loss was primarily due to a rise in operating expenses.
Capital expenditure during the quarter was nearly $0.7 million because of capitalized software costs, which form an integral part of the development of LiveOne’s integrated music player and pay-per-view services.
Outlook Reiterated
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 within $130-$140 million, with an adjusted EBITDA target of $20-$25 million.
ANET’s second-quarter 2024 EPS of $2.10 beat the Zacks Consensus Estimate by 16 cents. Quarterly revenues were $1.69 billion, up 15.8% from $1.46 billion in the year-ago quarter and surpassed the consensus mark by $1.64 billion.
ANSS’s second-quarter 2024 earnings of $2.50 per share beat the Zacks Consensus Estimate by 28.9%. The bottom line increased 56.3% year over year. Revenues of $594.1 million beat the Zacks Consensus Estimate by 7.9%. The top line rose 20% (up 22% at constant currency or cc) year over year.
ITRI’s second-quarter 2024 EPS of $1.21 topped the Zacks Consensus Estimate by 26%. Revenues came in at $609 million, up 13% year over year and beat the Zacks Consensus Estimate of $600 million.
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LiveOne (LVO) Q1 Loss Matches Estimates, Revenues Up Y/Y
LiveOne (LVO - Free Report) incurred a first-quarter fiscal 2025 loss of 2 cents per share compared with a loss of 1 cent a year ago. The figure was in line with the Zacks Consensus Estimate.
Revenues increased 19% year over year to $33.1 million but missed the consensus mark by 0.1%. Despite the competitive market landscape, LVO's year-over-year top-line growth was fueled by the continued success of the Audio Division, a strong pipeline and the addition of four new partnerships.
For the three months ended June 2024, Slacker Radio recorded net sales of $18.7 million, driven by robust growth of B2B deals. LVO remains focused on B2B partnerships that now include four new major deals and 63 potential ones in the pipeline. LVO also clinched a $24 million partnership with a top streaming network, a Fortune 250 company, which is currently generating around $2 million in monthly revenues.
PodcastOne’s net sales came in at $13.2 million. PodcastOne’s 73% stake is owned by LVO due to which its financial results are consolidated under this company.
Also, paid members increased 653,000 or 29% year over year as of Jun 30, 2024. The total member count, including free ad-supported memberships, was roughly 3.9 million as of Jul 31, 2024, underscoring the company's steadily growing user base.
Additionally, LVO has expanded its stock buyback program to $12 million. The company has already repurchased and extinguished more than 4.38 million shares, with $6.3 million left for repurchase under the existing buyback plan.
LiveOne, Inc. Price, Consensus and EPS Surprise
LiveOne, Inc. price-consensus-eps-surprise-chart | LiveOne, Inc. Quote
Other Details
During the fiscal first quarter, adjusted non-GAAP EBITDA was 2.9 million, up 31.8% and non-GAAP adjusted EBITDA (excluding the CPS division) was $3.3 million. The Audio Division's non-GAAP adjusted EBITDA reached $5.1 million.
Operating loss during the quarter totaled $0.8 million compared with operating loss of $0.3 million in the prior-year quarter. The wider loss was primarily due to a rise in operating expenses.
Capital expenditure during the quarter was nearly $0.7 million because of capitalized software costs, which form an integral part of the development of LiveOne’s integrated music player and pay-per-view services.
Outlook Reiterated
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 within $130-$140 million, with an adjusted EBITDA target of $20-$25 million.
Zacks Rank
LVO currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Itron, Inc. (ITRI - Free Report) , ANSYS, Inc. (ANSS - Free Report) and Arista Networks, Inc. (ANET - Free Report) . ANET presently sports a Zacks Rank #1 (Strong Buy), whereas ANSS & ITRI both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ANET’s second-quarter 2024 EPS of $2.10 beat the Zacks Consensus Estimate by 16 cents. Quarterly revenues were $1.69 billion, up 15.8% from $1.46 billion in the year-ago quarter and surpassed the consensus mark by $1.64 billion.
ANSS’s second-quarter 2024 earnings of $2.50 per share beat the Zacks Consensus Estimate by 28.9%. The bottom line increased 56.3% year over year. Revenues of $594.1 million beat the Zacks Consensus Estimate by 7.9%. The top line rose 20% (up 22% at constant currency or cc) year over year.
ITRI’s second-quarter 2024 EPS of $1.21 topped the Zacks Consensus Estimate by 26%. Revenues came in at $609 million, up 13% year over year and beat the Zacks Consensus Estimate of $600 million.