LiveOne Inc

liveone.com

What Do They Do?

Sells advertising around music and podcast content to advertisers, and offers streaming music, podcasts and live-event content to listeners and viewers.

How Do They Make Money?

Advertisers buy audio, video and display placements, with payment tied to delivered impressions or clicks; podcast ads are sold by impressions during delivery. Paid subscribers pay monthly or annual fees, usually in advance; merchandise buyers generally pay within 30 to 60 days, while wholesale sales are counted when products ship.

revenue

Segment	Share	How money arrives
Paid User Services Recurring	16%	Recurring
Advertising Usage-based	80% FY2023: 35%	Usage-based
Merchandising Revenue Sold outright	4.6% FY2023: 11%	Sold outright
Sponsorship and Licensing	0.0% FY2023: 0.4%
Ticket or Event Revenue Sold outright	0.0% FY2023: 0.8%	Sold outright

Who Are Their Customers?

Listeners access music services directly or through mobile providers and app services; automakers provide Slacker service in new vehicles. Podcasts also reach audiences through other listening platforms, while personalized merchandise is sold wholesale and directly to consumers.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2025: 45% from one customer

Do Revenues Turn Into Profits?

No. It lost $21M in FY2026.

Operating income, FY2026

−20% of revenue

▼ −14% (Loss) vs FY2025 (−$18.1M, −16%)

Net income, FY2026

−27% of revenue

▲ +12% (Loss) vs FY2025 (−$18.7M, −16%)

Free cash flow, FY2026

−18% of revenue

▼ Now a loss vs FY2025 ($3.3M, 3%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $19.2M in Q1 FY2026
Net income: ▼ −28% (Loss); vs −$3.6M in Q1 FY2026

Advertising share of revenue from contract with customer, excluding assessed tax vs 78.6% in Q1 FY2026

Shrinking. Revenue fell 34% in 4 years, from $117M in FY2022 to $77.1M in FY2026, about 10% a year.

Podcast monetization The older report describes podcast revenue from advertising or premium memberships; the latest report describes monetizing podcasts through advertising.

Revenue over time

Paid User Services Advertising Merchandising Revenue Sponsorship and Licensing Ticket or Event Revenue Membership Services

$200M$100M$0

FY2023 FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with Spotify, Amazon, SiriusXM, and Pandora

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