LiveOne delivered a mixed QQ1 2025 performance anchored by its Audio Division, with consolidated revenue of $33.1 million, driven by Slacker Radio and PodcastOne. Slacker posted a record $18.7 million in revenue and $5.4 million of adjusted EBITDA, while PodcastOne generated $13.2 million in revenue but posted an adjusted EBITDA loss of $0.3 million. The quarter underscored the company’s heavy reliance on high-growth but capital-intensive content strategies as it continues to scale B2B partnerships and IP monetization while facing elevated G&A and content acquisition costs. Management remains focused on accelerating partnerships and global expansion, supported by a replenished balance sheet and an ongoing stock repurchase program, signaling confidence in long‑term value creation despite a near-term profitability mix shift.
Management provided forward-looking guidance for the Audio Division: expected annual revenue of $130–$140 million with adjusted EBITDA of $20–$25 million for calendar year 2025. This implies a substantial ramp from the June quarter’s trajectory if the pipeline converts as anticipated. The company emphasizes the competitive advantage of owning IP and a creator-first model, aiming to translate content into broader platforms and live-event monetization as catalysts for sustainable growth. Investors should note that near-term profitability remains pressured by upfront content costs and public-company costs, but the visibility into multi-year B2B contracts and IP monetization offers a meaningful path to enhanced cash flow and earnings leverage over time.