LiveOne, Inc. (LVO) is a music, entertainment, and tech platform engaged in the delivery of the best content globally via subscriptions and events. Its LiveXLive is available on iOS, Android, Apple TV, Roku, Amazon Fire, and OTT, STIRR, and XUMO platforms.
The price of LVO stock during the regular trading on February 18, 2022, was $0.89 with a decline of 1.09%. At last check in the aftermarket, the stock further plunged by 16.4%.
LVO: Events and Happenings
On February 17, 2022, LVO reported filing Form 424B5 with the SEC. On the same date, the company announced launching a podcast titled Third Wheel with Jenny Mollen on February 22, 2022. The podcast will feature the author and actress in a dialog with pop-culture couples to discover the essentials of a healthy relationship. On February 16, 2022, LVO reported a licensing and distribution contract with 17LIVE. 17LIVE is a leading international live streaming platform.
LVO: Key Financials
On February 10, 2022, LVO released its financial results for the third fiscal quarter 2022 ended December 31, 2021. Some of the key highlights are discussed below.
Revenue
Revenue in Q3 2022 was $32.8 million against $19.1 million in the same quarter of 2021. The company observed a gain of $13.7 million in revenue over the year. The company also topped the analysts’ estimates by $7.43 million.
EPS
Basic and diluted net loss per share in the third quarter of 2022 was $11.7 million or $0.15 as compared to $8.7 million or $0.12 in the same quarter of 2021. The company observed an increase in net loss over the year. Also, the company topped the analysts’ estimates by $0.02.
On January 31, 2022, LVO informed that the 73rd installment of its original LiveOne Presents: Rooftop Series franchise was held on the same date. On January 18, 2022, LVO updated the launch of the extension of its music performance and discovery franchise Music Lives ON: Garden Sessions. On January 4, 2022, LVO reported its Executive management’s presence at the Emerging Growth Conference, held virtually on January 5th, 2022.
Conclusion
LVO stock downplayed 80% from the past year. The current stock decline in the aftermarket is likely the outcome of the company’s recent filing with the SEC. For the upcoming quarter, the analysts are expecting a revenue of $20.8 million against -$0.13 EPS.
