| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Revenue | $77.1M | -32.6% |
| Cost of Revenue | $64.9M | -23.9% |
| R&D Expense | $2.4M | -46.3% |
| SG&A Expense | $20.7M | -9.2% |
| Operating Income | -$15.5M | +14.3% |
| Interest Expense | $300K | — |
| Pre-tax Income | -$21.2M | -3.2% |
| Income Tax | $30K | +116.2% |
| Net Income | -$21.0M |
| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $5.4M | +30.0% |
| Accounts Receivable | $8.4M | +1.7% |
| Inventory | $685K | -56.8% |
| Current Assets | $16.8M | +10.0% |
| Total Assets | $46.9M | +15.7% |
| Current Liabilities | $35.9M | -1.4% |
| Total Liabilities | $59.3M | +21.1% |
| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Operating Cash Flow | -$10.5M | -265.6% |
| Capital Expenditures | $3.2M | +4.0% |
| Investing Cash Flow | -$8.2M | -161.8% |
| Financing Cash Flow | $20.0M | +419.9% |
| Free Cash Flow | -$13.7M | -513.9% |
Business Overview
LiveOne, Inc. is a creator-first music, entertainment and technology platform delivering premium experiences through paid users and live/virtual events, operating a flywheel model monetizing superfans across multiple revenue streams. The company operates four core integrated services: LiveOne (online live music streaming), Slacker (membership and advertising streaming music), PodcastOne (podcasting platform, spun out as independent public company in September 2023), and Custom Personalization Solutions (merchandise retail). Key developments include an amended relationship with a major OEM customer effective December 1, 2024, transitioning from subsidized products to direct subscriptions for LiveOne services.
Segment Performance
The company operates three reporting segments: PodcastOne (majority-owned subsidiary with over 200 exclusive podcast shows producing 275+ episodes weekly and 228 million downloads for the year ended March 31, 2026), Slacker (integrated membership and advertising streaming music service), and Media Group (remaining subsidiaries including merchandise operations). Specific comparative performance metrics versus prior periods are not provided in this excerpt of the MD&A section.
Forward Guidance
The company states expectations that global recorded music revenues will increase to $80 billion by 2030 and that live music industry revenues are expected to grow to $30 billion by 2025. It further expects paid streaming users to surpass 1.2 billion by 2030, and projects podcast listeners will grow to 122 million in 2026 and nearly 150 million by 2027, with podcast advertising expected to exceed $4.2B in 2026 and reach $5B by 2027. The company intends to expand its global reach by executing deals with new partners and extending music presence internationally.
Key Risk Factors
Key risks include dependence on a single major OEM customer (representing 7% of consolidated revenue in fiscal 2026 versus 45% in fiscal 2025), exposure to significant content acquisition costs and revenue-sharing arrangements with music labels and rights holders, and reliance on clearing music copyright licenses and artist streaming preferences in advance of usage. Additional risks include the volatility of the live music industry following COVID-19 disruptions, dependence on maintaining exclusive distribution rights with festival owners and promoters such as AEG and Live Nation, and competition in the rapidly growing but competitive digital streaming, podcasting, and live events markets.
| -12.1% |
| EPS (Basic) | -$2.02 | -910.0% |
| Stockholders' Equity |
| -$20.5M |
| -15.6% |