LiveOne Amends Partnership With Tesla; Lowers Fiscal 2025 Revenue Outlook; Shares Fall

MT Newswires Live

2024/10/01

LiveOne (LVO) said Tuesday it amended its partnership with Tesla to include an increase in average revenue per user and replacement of the streaming button with LiveOne's in perpetuity, effective immediately.

The new terms exclude Tesla from subsidizing LiveOne's products to some of its customers starting Dec. 1, according to the statement.

LiveOne revised its fiscal 2025 revenue guidance downwards to $120 million to $135 million from the previous outlook of $140 million to $155 million. Analysts polled by Capital IQ expect $145.9 million.

Shares of LiveOne fell 23% in recent trading.

Price: 0.75, Change: -0.20, Percent Change: -20.99

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