LiveOne, Inc.

For the 3 months ended June 30, 2026, consolidated revenue was $19.4 million and adjusted EBITDA was $4.3 million. Audio division revenue was $18.6 million with adjusted EBITDA of $6.3 million, while PodcastOne posted record revenue of $16.1 million and adjusted EBITDA of $1.6 million. On a GAAP basis, net loss was $3.1 million, or $0.23 per basic and diluted share, versus $3.9 million, or $0.40 per share, in the same quarter last year. Management said cash increased by $3.3 million, stockholders' equity increased by $7 million, and $5 million of liabilities were eliminated. For Q2 and the full year, no formal numerical guidance was given; management instead said it sees a clear path to over $250 million in revenue over the next 3 years and expects continued growth from B2B partnerships, PodcastOne, and AI/content licensing.

Robert S. Ellin struck an emphatic, highly bullish tone, calling the quarter one of the strongest in LiveOne's history and framing the business as a 'flywheel' of more partners, more distribution, more audiences, and more monetization. He emphasized a leaner cost structure, a stronger M&A pipeline, and optionality to buy, partner, or monetize assets depending on value. He also repeatedly highlighted major platform relationships, saying the company now has a clearer path to scale and that the business could exceed $100 million in revenue in the near term.

Craig Christensen focused on the quarter's reported financials and the sources of EBITDA improvement. He said adjusted EBITDA of $4.3 million was helped by Slacker, including stock-for-service deals and the elimination of certain past liabilities, and he quantified one-time pickups in Slacker at about $1.5 million. He also noted that some of the gross margin improvement was not fully recurring and said margins should move back toward normal unless those stock-for-service deals continue.

Analysts pressed on the company's B2B partnerships, asking when AT&T would begin offering LiveOne plans to automotive manufacturers and whether any manufacturers are already involved; management said it is under NDA, that the answer is 'yes and now,' and promised a more substantial update in 30 to 45 days. Questions also focused on smart-TV integrations, with management saying all 3 major TV partners are already selling TVs with LiveOne content and that usage and marketing data should become clearer in 60 to 90 days. On AI monetization, management said it is in discussions with 17 AI businesses and expects to start monetizing content in the next quarter, while also discussing content pricing of $100 to $500 per hour on a nonexclusive basis.