LiveOne, Inc. reported Q2 2025 revenue of $32.59 million, up 14.25% year over year, driven by continued monetization across its platform ecosystem. Despite top-line growth, the company posted an operating loss of $1.40 million and a net loss of $1.86 million, underscoring ongoing fixed cost pressure and incremental SG&A investments as it scales its LiveXLive, PodcastOne, and Slacker Radio platforms. On a positive note, operating cash flow was $5.77 million and free cash flow was $5.18 million, signaling improved working capital dynamics and non-cash add-backs supporting liquidity.
Balance-sheet metrics show a solid cash position of roughly $11.1 million and a net debt stance of about $(2.9) million, but total liabilities remain elevated at $61.4 million against total assets of $67.2 million. Notably, stockholders’ equity is negative at $(4.66) million, reflecting accumulated losses and a sizable accumulated deficit despite substantial intangible assets ( goodwill and intangible assets totaling ~$34.4 million ). The company’s quarterly results reveal a mixed picture: encouraging top-line growth on a YoY basis but persistent profitability challenges and capital-structure considerations that may require strategic financing or capital-efficiency improvements to sustain long-term growth.