Earnings call transcript: LiveOne Q3 2024 misses EPS forecast, stock dips By Investing.com

In this episode of The Podcast Weekly Brief, Michelle begins with a warm welcome and an overview of the top stories in the podcasting industry. The episode highlights LiveOne's Q3 2024 financial summary, providing insights into their performance and strategic outlook for the future. The discussion offers an analysis of LiveOne's impact on the podcasting landscape, considering both challenges and opportunities. The episode concludes with a wrap-up and a call to action, encouraging listeners to stay informed and engaged with the latest developments in the podcasting world.

Episode Transcript

(00:00):
Welcome back to the Podcast Daily Brief, yourgo-to update on the latest trends, tools, and
insights in the podcasting world.
I’m your host, AI Michelle, and this is aMagicPod, produced by PodcastAI.
Here are our top stories today…
First, LiveOne reports a miss on its Q3 2024earnings per share forecast, leading to a dip

(00:25):
in stock price.
Second, the company expands its user basethrough partnerships, despite financial
hurdles.
Third, LiveOne outlines strategic initiativesto boost future growth amid market challenges.
LiveOne Inc.
recently announced its financial results forthe third quarter of 2024, revealing a

(00:46):
significant miss on its earnings per shareexpectations.
The company reported an earnings per share ofnegative six cents, which fell short of the
forecasted negative two cents.
Revenue for the quarter also came in belowexpectations at twenty-nine point four five
million dollars, against the anticipatedthirty-one point three five million dollars.

(01:10):
Following the announcement, LiveOne's stockprice saw a decline of two point three five
percent in pre-market trading, indicatinginvestor concerns over the missed targets.
The decline in stock price is part of a broadertrend, with the stock down nearly eighteen
percent in the past week and thirty-ninepercent over the last six months.
The company’s current market capitalizationstands at ninety-one point one seven million

(01:35):
dollars.
Despite these financial challenges, LiveOne hasbeen expanding its business footprint through
strategic partnerships.
The company renewed its partnership with Tesla,which has significantly increased its user
base, and has been active in the podcastingmarket.
These partnerships are crucial for bolsteringLiveOne’s financial performance, even as the
company faces weak gross profit margins oftwenty-four point four percent.

(02:00):
Looking ahead, LiveOne aims to achievefifty-one million dollars in revenues for
PodcastOne and expects its first year ofpositive earnings before interest, taxes,
depreciation, and amortization.
The company is exploring price increases andnew revenue streams, focusing on converting a
substantial portion of ad-supported subscribersto paid users.

(02:23):
LiveOne’s strategic initiatives, includingpartnerships and product launches, are geared
towards driving future growth.
CEO Rob Allen emphasized the company'spotential, stating that this is the first time
LiveOne has had an opportunity to become amulti-billion dollar company over the next two
to three years.

(02:43):
He highlighted the impact of their partnershipwith Tesla, noting that they signed over eight
hundred thousand new users, which is fortypercent of the entire pool of two million Tesla
cars in North America.
Despite the challenges of market saturation inthe podcasting sector and macroeconomic
pressures that may impact advertising revenue,LiveOne is optimistic about its growth

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prospects.
The company is also exploring mergers andacquisitions opportunities to further enhance
its business and unlock additional value.
That wraps up today’s update on Podcast DailyBrief.
If you enjoyed staying informed on the latesttrends and developments in the podcasting
world, be sure to subscribe or follow so younever miss an episode.

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Stay connected with the world of podcasting!