LiveOne raises FY2024 guidance: revenue $123-130M, adj. EBITDA $12-16M

LiveOne, Inc.

Q1 FY2024 revenue $27.8M, adjusted EBITDA $2.2M; audio division revenue $25.7M, adjusted EBITDA $4.9M.
Full FY2024 revenue guidance raised to $123-130M (from $99.6M in FY2023), adjusted EBITDA $12-16M.
Audio division (Slacker, PodcastOne) guided to $95-105M revenue and $18-21M adjusted EBITDA for FY2024.
Cash and short-term assets ~$27M as of August 16, 2023; repurchased 3.2M shares under buyback program with $4.75M capacity remaining.
Record consolidated adjusted EBITDA of $10.9M for FY2023, a $24.4M improvement from prior year.

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