The stock price of LiveOne Inc (LVO) closed the recent trading session at $0.80, losing 6.14% from the previous trading session. The stock kept oscillating between $0.80 and $0.88. During the last check, the stock gained 8.60% to $0.87 in the pre-market. The company announced its financial results for the third quarter of the fiscal year 2022.
Company Financials
On February 10, 2022, LiveOne Inc (LVO) announced the financial result for the third fiscal quarter of 2022. The company posted revenue of $32.8 million in Q3 of FY22 against the revenue of $19.1 million in the same quarter of the fiscal year 2021. The total net loss of the company was announced to be $11.7 million in Q3 of FY22 against $8.7 million in the third fiscal quarter of 2021. Adjusted EBITDA for the third quarter of FY22 was in a loss of $4.8 million as compared to the loss of $1.9 million in the same quarter of the financial year 2021. Net loss per share for Q3 of FY22 was $0.15 while the loss per share in Q3 of FY21 was $0.12.
LVO: CEO Remarks
The Chief Executive Officer (CEO) of LiveOne Inc (LVO), Robert Ellin, said that they are expecting a strong YoY growth throughout the financial year of 2022 by the expected returns of their musical event, advertising, and sponsorship deals. He added that they have decisively turned and pulled forward their way and course of events to an expected positive EBITDA.
Mr. Ellin concluded that he is excited about posting a positive EBITDA for the first time in the company’s history in the next quarter which will end on June 30, 2022.
About LiveOne Inc
LiveOne (LVO) is a music, technology, and entertainment company that focuses on delivering premium services and content, globally. The company provides entertainment via memberships, subscriptions, and live or virtual music events. Headquartered in West Hollywood, California, United States of America (USA), LVO was founded in 2009.
