PART I — FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited condensed consolidated financial statements for Q1 FY2026 highlight a **$3.9 million** net loss and working capital deficiency, raising substantial doubt about going concern [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$48.9 million**, total liabilities rose to **$61.0 million** due to a new convertible note, and the stockholders' deficit widened to **$12.1 million** as of June 30, 2025 Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Cash and cash equivalents | $11,891 | $4,119 | | Total Current Assets | $22,946 | $15,246 | | Total Assets | $48,940 | $40,517 | | Total Current Liabilities | $33,956 | $36,384 | | Total Liabilities | $61,032 | $48,929 | | Total stockholders' deficit | ($12,092) | ($8,412) | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenue significantly decreased to **$19.2 million**, loss from operations widened to **$4.0 million**, and net loss attributable to LiveOne increased to **$3.6 million** for the three months ended June 30, 2025 Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | $19,207 | $33,078 | | Cost of sales | $16,825 | $25,087 | | Loss from operations | ($4,034) | ($784) | | Net loss attributed to LiveOne | ($3,593) | ($1,169) | | Net loss per share | ($0.04) | ($0.02) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$3.0 million**, offset by **$11.8 million** provided by financing activities, resulting in a **$7.8 million** net increase in cash for the three months ended June 30, 2025 Cash Flow Summary (in thousands) | Activity | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($3,047) | $1,342 | | Net cash used in investing activities | ($1,020) | ($736) | | Net cash provided by (used in) financing activities | $11,839 | ($1,428) | | Net change in cash, cash equivalents and restricted cash | $7,772 | ($822) | [Notes to the Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a history of losses, **$11.0 million** working capital deficiency, and **$3.9 million** net loss, raising going concern doubts, along with revenue disaggregation and financing activities - The company has a history of losses, incurred a net loss of **$3.9 million** for the quarter, used **$3.0 million** in cash from operating activities, and had a working capital deficiency of **$11.0 million**. These factors raise substantial doubt about its ability to continue as a going concern[25](index=25&type=chunk) Revenue by Type (in thousands) | Revenue Type | Q1 FY2026 | Q1 FY2025 | | :--- | :--- | :--- | | Membership Services | $3,325 | $18,850 | | Advertising | $15,093 | $13,074 | | Merchandising | $789 | $1,154 | | **Total Revenue** | **$19,207** | **$33,078** | - In May 2025, the company sold Original Issue Discount Senior Secured Convertible Debentures in an aggregate principal amount of **$16,775,000** for a cash purchase price of **$15,250,000**. The debentures mature in May 2028 and accrue interest at **11.75%** per year[78](index=78&type=chunk) - Subsequent to the quarter end, on July 17, 2025, the company closed an equity offering with aggregate gross proceeds of approximately **$9.5 million**. The proceeds are intended to fund the acquisition of cryptocurrencies as part of a new treasury strategy[136](index=136&type=chunk)[137](index=137&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition, significant revenue decline from OEM changes, user conversion efforts, and the new cryptocurrency treasury strategy, acknowledging going concern doubts [Consolidated Results of Operations](index=41&type=section&id=Consolidated%20Results%20of%20Operations) Total revenue decreased by **42%** to **$19.2 million**, driven by an **82%** drop in membership revenue, partially offset by a **15%** increase in advertising revenue, resulting in a widened net loss of **$3.9 million** Revenue Comparison (in thousands) | Revenue Stream | Q1 FY2026 | Q1 FY2025 | % Change | | :--- | :--- | :--- | :--- | | Membership services | $3,325 | $18,850 | -82% | | Advertising | $15,093 | $13,074 | 15% | | Merchandising | $789 | $1,154 | -32% | | **Total Revenue** | **$19,207** | **$33,078** | **-42%** | - The **82% decrease** in membership revenue was primarily a result of the change in terms with the company's largest OEM customer, which no longer subsidizes the product for new customers as of December 1, 2024[163](index=163&type=chunk) - Advertising revenue increased by **$2.0 million (15%)**, primarily attributable to a **$1.0 million** quarter-over-quarter growth in barter revenue[164](index=164&type=chunk) [Business Segment Results](index=46&type=section&id=Business%20Segment%20Results) PodcastOne revenue grew **14%** to **$15.0 million** with a narrowed operating loss, while Slacker revenue plummeted **82%** to **$3.4 million** due to OEM changes, swinging to an operating loss PodcastOne Operations (in thousands) | Metric | Q1 FY2026 | Q1 FY2025 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $14,994 | $13,159 | 14% | | Operating Loss | ($697) | ($1,366) | -49% | | Adjusted EBITDA | $580 | ($316) | -284% | Slacker Operations (in thousands) | Metric | Q1 FY2026 | Q1 FY2025 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $3,384 | $18,704 | -82% | | Operating Income (Loss) | ($196) | $4,193 | -105% | | Adjusted EBITDA | ($191) | $5,425 | -104% | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company had **$11.9 million** cash but a **$11.0 million** working capital deficiency, raising going concern doubts, addressed by **$15.25 million** from convertible debentures and **$9.5 million** from a subsequent equity offering - The company has a history of losses, a working capital deficiency of **$11.0 million** as of June 30, 2025, and used **$3.0 million** in cash from operations, raising substantial doubt about its ability to continue as a going concern[202](index=202&type=chunk) - In May 2025, the company raised **$15.25 million** in cash through the sale of Original Issue Discount Senior Secured Convertible Debentures[208](index=208&type=chunk) - In July 2025, after the quarter's end, the company completed an underwritten public offering for gross proceeds of approximately **$9.5 million**, with proceeds intended for its cryptocurrency treasury strategy and working capital[212](index=212&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This disclosure is not required as the company qualifies as a smaller reporting company - This section is not required for smaller reporting companies[225](index=225&type=chunk) [Controls and Procedures](index=55&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of the end of the period, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[227](index=227&type=chunk) - There were no changes in internal control over financial reporting during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[229](index=229&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) A complaint filed by Sony Music Entertainment on June 6, 2025, alleges **$2.6 million** in unpaid licensing fees against Slacker and LiveOne, with LiveOne's guarantee limited to **$250,000** - On June 6, 2025, Sony Music Entertainment filed a complaint against Slacker and the Company for an alleged breach of contract, claiming **$2.6 million** in unpaid licensing fees. LiveOne's guarantee is limited to **$250,000**[110](index=110&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) Key risks include heavy reliance on its largest OEM customer, challenges in converting users, significant operating losses raising going concern doubts, substantial debt, and new risks from its cryptocurrency assets treasury strategy [Risks Related to Our Business and Industry](index=57&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Industry) Significant reliance on Tesla, with revenue dropping from **53%** to **9%**, poses a major risk, as future success depends on converting subsidized users to direct subscribers, alongside ongoing going concern doubts - The company's business is highly dependent on its relationship with Tesla, which accounted for **9%** of consolidated revenue for the three months ended June 30, 2025, a sharp decrease from **53%** for the same period in 2024[236](index=236&type=chunk) - The company's ability to convert a significant number of former subsidized Tesla drivers to direct subscribers of the LiveOne app is a major uncertainty and risk to its future business and financial condition[239](index=239&type=chunk)[240](index=240&type=chunk) - The company has a history of significant losses, with a net loss of **$3.9 million** for the quarter, an accumulated deficit of **$269.1 million**, and a working capital deficit of **$11.0 million** as of June 30, 2025[241](index=241&type=chunk) [Risks Related to Our Company](index=60&type=section&id=Risks%20Related%20to%20Our%20Company) Financial and operational risks include the ability to repay **$15.9 million** in outstanding debt, restrictive covenants, dependence on third-party music licenses, and potential Nasdaq delisting due to minimum bid price non-compliance - The company has significant indebtedness, with **$15.9 million** outstanding as of June 30, 2025, and may not have the ability to repay the amounts due at maturity[246](index=246&type=chunk)[251](index=251&type=chunk) - The company depends on third-party licenses for sound recordings and musical compositions. An adverse change to, loss of, or claim that it does not hold necessary licenses could materially harm the business[254](index=254&type=chunk) - In March 2025, the company received a notice from Nasdaq for failing to meet the **$1.00** minimum bid price requirement, creating a risk of delisting if not resolved[264](index=264&type=chunk) [Risks Related to Our Cryptocurrency Assets Treasury Strategy](index=65&type=section&id=Risks%20Related%20to%20Our%20Cryptocurrency%20Assets%20Treasury%20Strategy) New risks from the **$500 million** cryptocurrency assets treasury strategy include the novelty, volatility, and regulatory uncertainty of digital assets, custody risks like private key loss, and potential classification as an investment company - The company has announced a new cryptocurrency assets treasury strategy with board authorization up to **$500 million**, an initiative that is nascent, unproven, and subject to significant risks[269](index=269&type=chunk) - Bitcoin and other digital assets are subject to significant legal, commercial, regulatory, and technical uncertainty, which could adversely impact their price and the company's investment[271](index=271&type=chunk)[272](index=272&type=chunk)[273](index=273&type=chunk) - The company faces risks related to the custody of its crypto assets, including the loss or destruction of private keys and cyberattacks. Insurance coverage for such losses may be insufficient[278](index=278&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=68&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued **175,649** shares to consultants and **35,763** shares to employees in unregistered transactions, and repurchased **291,459** shares as part of its publicly announced program during the quarter - During the quarter, the company issued **175,649 shares** of its common stock to various consultants and **35,763 shares** to employees, relying on exemptions from registration under the Securities Act[288](index=288&type=chunk)[289](index=289&type=chunk) Issuer Purchases of Equity Securities (April 1, 2025 – June 30, 2025) | Period | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | | :--- | :--- | :--- | :--- | | April 2025 | - | - | - | | May 2025 | 24,056 | $0.74 | 24,056 | | June 2025 | 267,403 | $0.81 | 291,459 | | **Total** | **291,459** | **$0.79** | **291,459** | [Defaults Upon Senior Securities](index=68&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[292](index=292&type=chunk) [Mine Safety Disclosures](index=68&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable - Not applicable[293](index=293&type=chunk) [Other Information](index=68&type=section&id=Item%205.%20Other%20Information) There is no other information to disclose for this period - None[294](index=294&type=chunk) [Exhibits](index=69&type=section&id=Item%206.%20Exhibits) A list of all exhibits filed with the Form 10-Q includes corporate governance documents, financing agreements, and required CEO and CFO certifications - The report lists numerous exhibits filed, including corporate governance documents, debt and equity financing agreements, and required CEO/CFO certifications[296](index=296&type=chunk)[298](index=298&type=chunk)

Core Viewpoint - LiveOne has strategically invested in Bitcoin as part of its long-term treasury yield management strategy, reflecting the company's belief in the long-term potential of digital assets [1][4]. Company Overview - LiveOne is headquartered in Los Angeles, CA, and operates as a creator-first music, entertainment, and technology platform, offering premium experiences and content globally through memberships and live and virtual events [2]. - The company's subsidiaries include Slacker, PodcastOne, PPVOne, Custom Personalization Solutions, LiveXLive, DayOne Music Publishing, Drumify, and Splitmind [2]. Investment Details - LiveOne has purchased a multimillion-dollar position in Bitcoin at an average price of $117,885 per coin [4]. - The company has committed up to $500 million to grow its Bitcoin holdings, leveraging ARCA's expertise to manage its Bitcoin yield strategy [4]. - Anchorage Digital is responsible for the secure custody and management of LiveOne's digital assets [4].

Financial Data and Key Metrics Changes - The company reported a strong balance sheet with over $20 million in cash after replacing a $7 million loan and closing a $10 million equity financing [7][8] - The company eliminated $14 million of short-term liabilities, including $2.5 million in the current quarter [8] - The average revenue per user (ARPU) increased from $3 to over $5, with expectations to reach closer to $7 in the future [29][30] Business Line Data and Key Metrics Changes - PodcastOne reported record revenues of $15 million for the quarter, with a run rate projected to exceed $60 million for the year [11] - The company has 75 additional B2B deals in progress, with significant partnerships expected to drive revenue growth [11] - The company converted 1.3 million out of 2 million Tesla subscribers to paying users, indicating a strong conversion rate [12][29] Market Data and Key Metrics Changes - The company anticipates $50 million in B2B revenues over the next twelve months, which includes both Slacker and PodcastOne [20][22] - The company is experiencing significant growth in ad revenue, with ad growth in Tesla cars increasing from 30% to 82% [12] Company Strategy and Development Direction - The company is focusing on B2B partnerships, including a major deal with a Fortune 500 company that could drive over 30 million paying subscribers [9][44] - The company is exploring M&A opportunities and has received multiple inbound calls regarding potential sales or partnerships [56][57] - The company is advancing its Web3 initiatives, including a Bitcoin yield strategy and NFT monetization [13][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in recovering from past revenue losses and achieving substantial growth over the next three to five years, targeting 10 million subscribers and $500 million in revenues [17][82] - The management highlighted the excitement and energy within the team, emphasizing their commitment to overcoming challenges and capitalizing on new opportunities [84] Other Important Information - The company has launched a reality series that is expected to generate significant revenue, with a format similar to the Olympics [15][105] - The company is actively working on monetizing its extensive video content library, which is seen as a major growth opportunity [88][90] Q&A Session Summary Question: What is the annualized revenue of all currently signed partnerships? - The company expects $50 million in B2B revenues, which includes both Slacker and PodcastOne [20][22] Question: What does EBITDA look like with the recent staff reductions? - The company cannot provide specific EBITDA guidance but confirmed that staff cuts were made across the board, including at Slacker [23][24] Question: How many ad-supported users are there in addition to the 1.3 million Tesla subscribers? - The 1.3 million figure represents total conversions, with over 1.5 million total subscribers currently [29] Question: Can you elaborate on the new Fortune 500 B2B deal? - The deal involves a white label solution that will be marketed to over 30 million paying members [44][45] Question: What is the company's digital currency strategy? - The company is implementing a Bitcoin yield strategy and plans to increase its digital currency exposure [72][73] Question: When will the Q3 report be released? - The company is on track to file the report soon [108]

[Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) LiveOne's Q1 Fiscal 2026 saw a significant revenue decline, increased losses, and negative Adjusted EBITDA, alongside strategic staff reductions and new B2B partnerships [Q1 Fiscal 2026 Financial Summary](index=1&type=section&id=Q1%20Fiscal%202026%20Financial%20Summary) LiveOne's Q1 Fiscal 2026 revenue decreased to **$19.2 million** from **$33.1 million** year-over-year, leading to an operating loss of **$4.0 million** and a net loss of **$3.9 million**, with Adjusted EBITDA turning negative at **($1.8) million** Q1 Fiscal 2026 Financial Summary (In thousands, except per share data) | | Three Months Ended June 30, | | | :--- | :--- | :--- | | | **2025** | **2024** | | **Revenue** | $19,207 | $33,078 | | **Operating loss** | $(4,034) | $(784) | | **Net loss** | $(3,864) | $(1,557) | | **Adjusted EBITDA*** | $(1,812) | $2,903 | | **Net loss per share** | $(0.04) | $(0.02) | [Key Business Highlights](index=1&type=section&id=Key%20Business%20Highlights) The company executed a **31% staff reduction**, secured major B2B partnerships including a **$16.5 million** Amazon deal, and raised **$10.2 million** in equity for Bitcoin and Web3 initiatives - Executed a **31% staff reduction**, decreasing employee count from 138 to 95[4](index=4&type=chunk) - Secured major B2B partnerships, including a 3-year, **$16.5 million** deal with Amazon via PodcastOne and a partnership with a Fortune 250 company projected to generate over **$26 million** in revenue[4](index=4&type=chunk) - Completed a **$10.2 million** equity raise to fund a Bitcoin yield strategy and other Web3 initiatives[4](index=4&type=chunk) - Subsidiary PodcastOne (PODC) reported a record **$15 million** in revenue for Q1 2026[4](index=4&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) This section details the drivers behind the Q1 Fiscal 2026 revenue decline and its impact on operating loss and Adjusted EBITDA [Detailed Quarterly Results Discussion](index=2&type=section&id=Detailed%20Quarterly%20Results%20Discussion) Q1 Fiscal 2026 revenue declined to **$19.2 million** due to Slacker revenue reductions, resulting in an operating loss of **$4.0 million** and a **$4.7 million** decrease in Adjusted EBITDA to **($1.8) million** - Q1 Fiscal 2026 revenue was **$19.2 million**, a decrease from **$33.1 million** in the prior year, primarily due to reductions in Slacker revenues[5](index=5&type=chunk) - Operating loss for the quarter was **($4.0) million**, compared to a **($0.8) million** loss in Q1 Fiscal 2025, largely resulting from the decrease in Slacker revenue[5](index=5&type=chunk) - Adjusted EBITDA was **($1.8) million**, a decrease of **$4.7 million** from **$2.9 million** in the prior-year quarter, with the Audio Division also impacted by the decline in Slacker revenues[6](index=6&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents LiveOne's consolidated statements of operations and balance sheets, along with reconciliations of non-GAAP financial measures [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) LiveOne reported Q1 Fiscal 2026 revenue of **$19.2 million**, total operating expenses of **$23.2 million**, and a loss from operations of **$4.0 million**, with a net loss attributable to LiveOne of **$3.6 million** or **($0.04)** per share Consolidated Statements of Operations (In thousands, except per share) | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Revenue** | $19,207 | $33,078 | | **Total operating expenses** | $23,241 | $33,862 | | **Loss from operations** | $(4,034) | $(784) | | **Net loss** | $(3,864) | $(1,557) | | **Net loss attributed to LiveOne** | $(3,593) | $(1,945) | | **Net loss per share** | $(0.04) | $(0.02) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were **$48.9 million**, total liabilities **$61.0 million**, and total stockholders' deficit **$12.1 million**, with cash and cash equivalents significantly increasing to **$11.9 million** Consolidated Balance Sheets (In thousands) | | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $11,891 | $4,119 | | **Total Current Assets** | $22,946 | $15,246 | | **Total Assets** | $48,940 | $40,517 | | **Total Current Liabilities** | $33,956 | $36,384 | | **Total Liabilities** | $61,032 | $48,929 | | **Total equity (deficit)** | $(12,092) | $(8,412) | [Reconciliation of Non-GAAP Measures](index=7&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section reconciles non-GAAP metrics, showing Q1 FY2026 Adjusted EBITDA at **($1.8) million** (down from **$2.9 million**) and Contribution Margin at **$3.4 million** (down from **$8.3 million**) [Adjusted EBITDA Reconciliation](index=7&type=section&id=Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA for Q1 FY2026 was **($1,812) thousand**, a significant decrease from **$2,903 thousand** in the prior year, largely due to a swing in Slacker operations Adjusted EBITDA Reconciliation (In thousands) | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net Loss** | $(3,864) | $(1,557) | | **Total Adjusted EBITDA*** | **$(1,812)** | **$2,903** | | *By Segment:* | | | | Operations – PodcastOne | $580 | $(316) | | Operations – Slacker | $(191) | $5,425 | | Operations – Other | $(715) | $(628) | | Corporate | $(1,486) | $(1,578) | [Contribution Margin Reconciliation](index=8&type=section&id=Contribution%20Margin%20Reconciliation) Q1 FY2026 Contribution Margin was **$3,425 thousand**, a substantial decrease from **$8,343 thousand** year-over-year, reflecting a lower Gross Profit Contribution Margin Reconciliation (In thousands) | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Revenue** | $19,207 | $33,078 | | **Gross Profit** | $2,170 | $7,216 | | **Contribution Margin*** | **$3,425** | **$8,343** | [Supplementary Information](index=2&type=section&id=Supplementary%20Information) This section provides details on the conference call, explanations of non-GAAP measures, forward-looking statements, and a company overview [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) LiveOne scheduled a conference call and webcast for August 13, 2025, at 10:00 AM ET to discuss Q1 Fiscal 2026 financial results, with dial-in and webcast details provided Conference Call Information | | Details | | :--- | :--- | | **Date** | Wednesday, August 13, 2025 | | **Time** | 10:00 AM Eastern Time (7:00 AM Pacific Time) | | **Webcast Link** | Provided in the report | | **Dial-in** | (800) 715-9871 | | **Conference Code** | 2892444 | [About Non-GAAP Financial Measures](index=4&type=section&id=About%20Non-GAAP%20Financial%20Measures) The company uses non-GAAP measures like Contribution Margin and Adjusted EBITDA to assess segment performance, acknowledging their limitations as supplements to GAAP results - The company uses non-GAAP measures, Contribution Margin and Adjusted EBITDA, to evaluate the performance of its operating segments[11](index=11&type=chunk)[12](index=12&type=chunk) - Adjusted EBITDA is defined as earnings excluding interest, taxes, depreciation, amortization, and other specific non-recurring or non-cash items like stock-based compensation and acquisition-related costs[13](index=13&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This section includes forward-looking statements subject to risks and uncertainties, cautioning that actual results may differ materially from expectations, with further details in SEC filings - The press release contains "forward-looking statements" that involve risks and uncertainties, which may cause actual results to differ materially from expectations[9](index=9&type=chunk) - Key risks include reliance on its largest OEM customer, ability to consummate proposed transactions, ability to continue as a going concern, and risks related to digital assets[9](index=9&type=chunk) [Company Overview](index=2&type=section&id=Company%20Overview) LiveOne is a Los Angeles-based creator-first music, entertainment, and technology platform operating through subsidiaries like Slacker and PodcastOne, delivering content via memberships and events - LiveOne is a creator-first music, entertainment, and technology platform based in Los Angeles[8](index=8&type=chunk) - Its key subsidiaries include Slacker, PodcastOne (Nasdaq: PODC), PPVOne, and others[8](index=8&type=chunk)

Core Insights - LiveOne reported a significant decline in revenue for Q1 Fiscal 2026, totaling $19.2 million compared to $33.1 million in Q1 Fiscal 2025, primarily due to reductions in Slacker revenues [2][3] - The company experienced an operating loss of $4.0 million in Q1 Fiscal 2026, worsening from a loss of $0.8 million in the same quarter the previous year [3] - Adjusted EBITDA for Q1 Fiscal 2026 was reported at ($1.8) million, a decrease of $4.7 million from $2.9 million in Q1 Fiscal 2025 [4] Financial Performance - Revenue for Q1 Fiscal 2026 was $19,207,000, down from $33,078,000 in Q1 Fiscal 2025 [20] - Operating loss increased to ($4,034,000) from ($784,000) year-over-year [20] - Net loss for Q1 Fiscal 2026 was ($3,864,000), compared to ($1,557,000) in the prior year [20] Operational Highlights - The company underwent a 31% staff reduction, decreasing from 138 to 95 employees [6] - LiveOne expanded its B2B partnerships, including a $16.5 million deal with Amazon via PodcastOne and a revenue partnership with a Fortune 250 Streaming Network [6] - The company launched a significant live event, a reality Olympics series, building on the success of Social Gloves, which generated $27 million in revenue [6] Strategic Initiatives - LiveOne completed a $10.2 million equity raise aimed at Bitcoin yield strategy and Web3 initiatives [6] - The company added key personnel to its Web3 team to monetize over 10,000 hours of video content through digital assets [6] - LiveOne continues to explore merger and acquisition opportunities, including the potential sale of a subsidiary [6]

Core Viewpoint - LiveOne plans to announce its operating and financial results for Q1 Fiscal 2026 on August 13, 2025, and will host an investor webcast to discuss these results [1] Group 1: Company Overview - LiveOne is headquartered in Los Angeles, CA, and is recognized as a creator-first music, entertainment, and technology platform [2] - The company focuses on delivering premium experiences and content globally through memberships and live and virtual events [2] - LiveOne's subsidiaries include Slacker, PodcastOne, PPVOne, Custom Personalization Solutions, LiveXLive, DayOne Music Publishing, Drumify, and Splitmind [2] Group 2: Upcoming Financial Announcement - The earnings conference call for Q1 Fiscal Year 2026 is scheduled for August 13, 2025, at 10:00 AM Eastern Time [1] - The call can be accessed via a webcast link and a dial-in number provided in the announcement [1]

Core Insights - LiveOne has appointed Andy Vick to its Web3/Crypto Advisory Board to enhance revenue through tokenization and blockchain opportunities [1] - The company has generated $3 million in profits from NFTs related to Social Gloves, indicating a successful venture into the NFT space [1][4] - LiveOne operates a creator-first platform that includes over 200 podcasters and more than 10,000 hours of video content [1] Company Overview - LiveOne is headquartered in Los Angeles, CA, and is publicly traded on NASDAQ under the ticker LVO [2] - The company focuses on delivering premium music, entertainment, and technology experiences through memberships and live/virtual events [2] - LiveOne's subsidiaries include Slacker, PodcastOne, PPVOne, and others, providing a diverse range of services [2] Leadership and Expertise - Andy Vick brings over 15 years of leadership experience in media, technology, AI, VR/AR, and blockchain, having co-founded multiple NFT and Web3 projects that generated over $100 million in primary sales [4] - Vick's previous achievements include designing NFTs for Social Gloves and founding a top 5 blockchain-enabled video game [4]

Core Insights - LiveOne's executive producer Kiri Gerbs has significantly contributed to the success of Russ's latest album, which debuted at 1 on the Billboard Indie Chart and reached 10 on the Billboard 200, marking Russ's highest charting release since 2018 [1][2] - Russ is recognized as the first rapper to debut at 1 on the Billboard Indie Chart, with his discography accumulating over 10 billion streams [2] - The collaboration between Kiri Gerbs and Russ is noted for its innovative artistry and deep resonance with fans [2][3] Company Overview - LiveOne is an award-winning, creator-first music, entertainment, and technology platform headquartered in Los Angeles, CA, focused on delivering premium experiences and content worldwide [4] - The company operates various subsidiaries, including Slacker, PodcastOne, and LiveXLive, and offers services through multiple platforms such as iOS, Android, Roku, and Spotify [4] Future Commitment - LiveOne expresses its commitment to supporting visionary artists like Russ and executives like Kiri Gerbs, aiming to redefine the music landscape and achieve unprecedented success [3]

Core Insights - LiveOne has announced a strategic partnership with Arca to co-manage its expanding cryptocurrency treasury portfolio, indicating a focus on enhancing its financial strategy through cryptocurrency investments [1][2]. Company Overview - LiveOne is a creator-first music, entertainment, and technology platform headquartered in Los Angeles, CA, offering premium experiences and content through memberships and live and virtual events [3]. - The company operates several subsidiaries, including Slacker, PodcastOne, and LiveXLive, and provides services across various platforms such as iOS, Android, Roku, and more [3]. Strategic Focus - The partnership with Arca aims to execute a multi-coin strategy that is expected to generate high yield returns, showcasing the company's commitment to leveraging cryptocurrency for financial growth [2].

Core Viewpoint - LiveOne is expanding its crypto asset treasury strategy with an initial investment of $10 million dedicated to a Bitcoin yield strategy, supported by a board-approved authorization of up to $500 million to enhance shareholder value and innovation in the digital asset space [1][2]. Group 1: Financial Offering - The company has priced its public offering of 11,833,334 shares of common stock at $0.75 per share, expected to generate gross proceeds of approximately $8.9 million before expenses [1]. - The offering is set to close on or about July 17, 2025, subject to customary closing conditions, and includes a 45-day option for the underwriter to purchase an additional 1,775,000 shares [3]. Group 2: Strategic Intent - The initial $10 million investment in the Bitcoin yield strategy reflects the company's confidence in the long-term potential of crypto assets to drive innovation and enhance shareholder value [2]. - The board's approval for a treasury authorization of up to $500 million indicates a significant commitment to integrating digital assets into the company's business model [2]. Group 3: Company Overview - LiveOne is a creator-first music, entertainment, and technology platform headquartered in Los Angeles, with a focus on delivering premium experiences through memberships and live events [6]. - The company's subsidiaries include Slacker, PodcastOne, and others, indicating a diverse portfolio aimed at enhancing its market presence [6].