Notes payable, net 431 771
Other long-term liabilities 9,317 9,354
Deferred income taxes 339 339
---------- --------
Total Liabilities 61,359 57,306
---------- --------
Commitments and Contingencies
Mezzanine Equity
Redeemable convertible preferred
stock, $0.001 par value; 100,000
shares authorized; none and 5,000
shares issued and outstanding as of
September 30, 2024 and March 31,
2024, respectively - 4,962
Stockholders' Equity (Deficit)
Preferred stock, $0.001 par value;
10,000,000 shares authorized;
13,187 and 18,814 shares issued
and outstanding as of September
30, 2024 and March 31, 2024,
respectively 13,187 18,814
Common stock, $0.001 par value;
500,000,000 shares authorized;
94,578,077 and 88,627,420 shares
issued and outstanding as of
September 30, 2024 and December
31, 2024, net of treasury shares,
respectively 95 92
Additional paid in capital 230,933 216,116
Treasury stock (250) (4,782)
Accumulated deficit (248,623) (238,984)
---------- --------
Total LiveOne's Stockholders' Deficit (4,658) (8,744)
Non-controlling interest 11,242 10,339
---------- --------
Total equity (deficit) 6,584 1,595
---------- --------
Total Liabilities, Mezzanine Equity and
Stockholders' Equity (Deficit) $ 67,943 $ 63,863
---------- --------
LiveOne , Inc.
Reconciliation of Non-GAAP Measure to GAAP Measure
Adjusted EBITDA* Reconciliation (Unaudited)
(In thousands)
Non-
Recurring
Acquisition
Net Depreciation and Other (Benefit)
Income and Stock-Based Realignment (Income) Provision Adjusted
Expense
(Loss) Amortization Compensation Costs (1) (2) for Taxes EBITDA*
--------- -------------- -------------- ------------- -------- ----------- ----------
Three
Months
Ended
September
30, 2024
Operations
--
PodcastOne $ (1,669) $ 394 $ 861 $ - $ - $ 11 $ (403)
Operations
-- Slacker 3,866 743 526 30 642 - 5,807
Operations
-- Media (1,687) 214 198 404 30 - (841)
Corporate (2,827) 2 706 207 254 (20) (1,678)
------- --- --------- ---- -------- --- -------- ------ --- ----- ------
Total $ (2,317) $ 1,353 $ 2,291 $ 641 $ 926 $ (9) $ 2,885
------- --- --------- ---- -------- --- -------- ------ --- ----- ------
Three
Months
Ended
September
30, 2023
Operations
--
PodcastOne $(10,873) $ 253 $ 854 $ 413 $ 9,447 $ - $ 94
Operations
-- Slacker 2,250 694 998 742 354 - 5,038
Operations
-- Media 3,168 294 178 107 (4,308) - (561)
Corporate (2,472) 3 686 78 (60) (21) (1,786)
------- --- --------- ---- -------- --- -------- ------ --- ----- ------
Total $ (7,927) $ 1,244 $ 2,716 $ 1,340 $ 5,433 $ (21) $ 2,785
------- --- --------- ---- -------- --- -------- ------ --- ----- ------
Non-
Recurring
Acquisition
and Other (Benefit)
Net Depreciation
Income and Stock-Based Realignment (Income) Provision Adjusted
Expense
(Loss) Amortization Compensation Costs (1) (2) for Taxes EBITDA*
--------- -------------- -------------- ------------- -------- ----------- ----------
Six Months
Ended
September
30, 2024
Operations
--
PodcastOne $ (3,036) $ 1,013 $ 1,254 $ 38 $ - $ 11 $ (720)
Operations
-- Slacker 7,218 1,493 1,032 176 1,313 - 11,231
Operations -
Media (3,077) 431 517 600 60 - (1,469)
Corporate (4,980) 3 1,188 229 276 29 (3,254)
------- ---- -------- ---- -------- --- -------- ------ ---- ----- ------
Total $ (3,875) $ 2,940 $ 3,991 $ 1,043 $ 1,649 $ 40 $ 5,788
------- ---- -------- ---- -------- --- -------- ------ ---- ----- ------
Six Months
Ended
September
30, 2023
Operations
--
PodcastOne $(11,083) $ 339 $ 938 $ 719 $ 9,850 $ - $ 763
Operations
-- Slacker 5,831 1,408 1,214 874 102 - 9,429
Operations -
Media 2,392 543 213 133 (4,952) - (1,671)
Corporate (5,562) 8 1,229 130 610 58 (3,527)
------- ---- -------- ---- -------- --- -------- ------ ---- ----- ------
Total $ (8,422) $ 2,298 $ 3,594 $ 1,856 $ 5,610 $ 58 $ 4,994
------- ---- -------- ---- -------- --- -------- ------ ---- ----- ------
(1 ) Non-Recurring Acquisition and Realignment Costs include
non-cash GAAP purchase accounting adjustments for
certain deferred revenue and costs, legal, accounting
and other professional fees directly attributable
to acquisition activity, employee severance payments
and third party professional fees directly attributable
to acquisition or corporate realignment activities,
and certain non-recurring expenses associated with
legal settlements or reserves for legal settlements
in the period that pertain to historical matters that
existed at acquired companies prior to their purchase
date
(2 ) Other (income) expense above primarily includes interest
expense and change in fair value of derivative liabilities.
These are included in the statement of operations
in other income (expense) and are an add back to net
loss above in the reconciliation of Adjusted EBITDA*
to loss.
* See the definition of Adjusted EBITDA under "About
Non-GAAP Financial Measures" within this release.
LiveOne , Inc.
Reconciliation of Non-GAAP Measure to GAAP Measure
Contribution Margin* Reconciliation (Unaudited)
(In thousands)
Three Months Ended
September 30,
----------------------
2024 2023
--------- -----------
Revenue: $ 32,594 $ 28,528
Less:
Cost of sales (24,518) (20,547)
Amortization of developed technology (691) (726)
------- -------
Gross Profit 7,385 7,255
Add back amortization of developed
technology: 691 726
------- -------
Contribution Margin* $ 8,076 $ 7,981
======= =======
Six Months Ended
September 30,
----------------------
2024 2023
--------- -----------
Revenue: $ 65,672 $ 56,295
Less:
Cost of sales (49,605) (39,748)
Amortization of developed technology (1,466) (1,473)
------- -------
(MORE TO FOLLOW) Dow Jones Newswires
November 07, 2024 08:00 ET (13:00 GMT)
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