LiveOne Inc reported Q4 2024 revenue of $30.90 million, up 20.9% year over year, signaling continued demand for its live music, podcast, and digital content ecosystem. Despite top-line growth, the quarter delivered a net loss of $1.95 million and an operating loss of $1.16 million as gross margin compressed to 19.8% from prior periods, and operating expenses remained a meaningful drag on profitability. On a constructive note, operating cash flow reached $3.04 million and free cash flow totaled $1.78 million, supporting a cash balance of $7.14 million at period end. Net debt stood at approximately $1.41 million with total debt of $8.55 million, while liquidity metrics remained tight (current ratio 0.52, quick ratio 0.48, cash ratio 0.15). The company also carries a negative equity position (-$3.78 million), reflecting ongoing balance sheet clean-up needs common to micro-cap media platforms pursuing growth investments and content acquisitions.