LiveOne, Inc. delivered a solid top-line expansion in Q4 2024, with revenue of 30.90 million, up 20.9% year over year, driven by its multi-platform digital media ecosystem. However, the quarter’s profitability remained negative, as the company reported a net loss of 1.95 million and an operating loss of 1.16 million, underscoring ongoing investment and scale efforts across LiveXLive, PodcastOne, and Slacker Radio. On the plus side, operating cash flow reached 3.04 million and free cash flow was 1.78 million, supporting liquidity amid a leveraged balance sheet. Balance sheet metrics show a fragile near-term liquidity position (current ratio 0.52) with negative equity (-3.78 million) and a modest cash balance of 7.14 million, while total debt stood at 8.55 million and net debt at 1.41 million, signaling manageable leverage but limited cushion for adverse shocks.
The revenue mix appears to be benefiting from growth across the company’s digital music, live-streamed events, and on-demand content offerings; yet, profitability remains a challenge as operating and net margins remain negative. The firm’s working capital dynamics reflect typical growth-stage digital media players with elevated accounts receivable and payables, and meaningful non-cash and one-off adjustments in other working capital. Management commentary (where available) and the quarterly results imply continued emphasis on monetization of its diverse content stack and ad / subscription revenue opportunities, alongside ongoing investments in content, technology, and distribution. Investors should monitor operating leverage realization, potential impairment risk given goodwill and intangible assets, and the pace of margin recovery from ongoing investments.
Overall investment posture is cautious: the company demonstrates revenue growth and improving cash flow, but must translate that into sustained profitability and stronger balance-sheet resilience to support a multi-quarter recovery without dilutive financing or rising leverage.