LiveOne (LVO)
Market Price (9/21/2026): $3.09 | Market Cap: $41.0 MilSector: Communication Services | Industry: Interactive Media & Services
LiveOne (LVO)
Market Price (9/21/2026): $3.09Market Cap: $41.0 MilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Music Streaming, Video Streaming, Show more. | Weak multi-year price returns2Y Excs Rtn is -115%, 3Y Excs Rtn is -143% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -22% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -53% Key risksLVO key risks include [1] substantial doubt about its ability to continue as a going concern due to significant indebtedness, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Music Streaming, Video Streaming, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -115%, 3Y Excs Rtn is -143% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -22% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -53% |
| Key risksLVO key risks include [1] substantial doubt about its ability to continue as a going concern due to significant indebtedness, Show more. |
Qualitative Assessment
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LiveOne (LVO) stock has lost about 55% since 5/31/2026 because of the following key factors:
1. LiveOne's revenue for fiscal Q1 2027, which ended June 30, 2026, missed analyst expectations. While the company announced record revenue of $19.4 million and record Adjusted EBITDA of $4.3 million for Q1 Fiscal 2027, the reported revenue of $19.35 million fell short of analysts' consensus estimates of $21.23 million. This shortfall, despite overall growth, likely contributed to investor disappointment.
2. Concerns regarding profitability and competitive pressures were highlighted during the fiscal Q1 2027 earnings call. Management noted "higher-than-expected content acquisition costs, pressuring margins," "increased competition from larger streaming platforms, impacting subscriber acquisition costs," and a "decline in average revenue per user (ARPU) due to promotional pricing strategies". These factors indicate underlying challenges that could affect the company's future financial performance and investor confidence.
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LiveOne (LVO) stock has lost about 55% since 5/31/2026 because of the following key factors:
1. LiveOne's revenue for fiscal Q1 2027, which ended June 30, 2026, missed analyst expectations. While the company announced record revenue of $19.4 million and record Adjusted EBITDA of $4.3 million for Q1 Fiscal 2027, the reported revenue of $19.35 million fell short of analysts' consensus estimates of $21.23 million. This shortfall, despite overall growth, likely contributed to investor disappointment.
2. Concerns regarding profitability and competitive pressures were highlighted during the fiscal Q1 2027 earnings call. Management noted "higher-than-expected content acquisition costs, pressuring margins," "increased competition from larger streaming platforms, impacting subscriber acquisition costs," and a "decline in average revenue per user (ARPU) due to promotional pricing strategies". These factors indicate underlying challenges that could affect the company's future financial performance and investor confidence.
3. Analyst sentiment and price targets showed signs of moderation during the period. While some analysts maintained "Buy" ratings, Alliance Global Partners notably adjusted its price target for LiveOne downwards from $11 to $8 in August 2026. Additionally, the consensus analyst rating shifted to "Hold" as of September 12, 2026, based on 3 analysts with an average price target of $11.00, which reflects a less bullish outlook than previous periods and likely contributed to selling pressure.
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Stock Movement Drivers
Fundamental Drivers
The -53.3% change in LVO stock from 5/31/2026 to 9/20/2026 was primarily driven by a -46.0% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.62 | 3.09 | -53.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 78 | 77 | -0.3% |
| P/S Multiple | 1.0 | 0.5 | -46.0% |
| Shares Outstanding (Mil) | 12 | 13 | -13.4% |
| Cumulative Contribution | -53.3% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| LVO | -53.3% | |
| Market (SPY) | 0.9% | 17.1% |
| Sector (XLC) | -4.2% | 12.0% |
Fundamental Drivers
The -43.7% change in LVO stock from 2/28/2026 to 9/20/2026 was primarily driven by a -34.8% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.49 | 3.09 | -43.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 78 | 77 | -0.3% |
| P/S Multiple | 0.8 | 0.5 | -34.8% |
| Shares Outstanding (Mil) | 12 | 13 | -13.4% |
| Cumulative Contribution | -43.7% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| LVO | -43.7% | |
| Market (SPY) | 11.6% | 18.3% |
| Sector (XLC) | -5.8% | 16.4% |
Fundamental Drivers
The -43.8% change in LVO stock from 8/31/2025 to 9/20/2026 was primarily driven by a -27.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.50 | 3.09 | -43.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 101 | 77 | -23.1% |
| P/S Multiple | 0.5 | 0.5 | 0.3% |
| Shares Outstanding (Mil) | 10 | 13 | -27.1% |
| Cumulative Contribution | -43.8% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| LVO | -43.8% | |
| Market (SPY) | 19.4% | 23.9% |
| Sector (XLC) | 0.5% | 16.5% |
Fundamental Drivers
The -83.8% change in LVO stock from 8/31/2023 to 9/20/2026 was primarily driven by a -66.6% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.06 | 3.09 | -83.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 104 | 77 | -25.8% |
| P/S Multiple | 1.6 | 0.5 | -66.6% |
| Shares Outstanding (Mil) | 9 | 13 | -34.5% |
| Cumulative Contribution | -83.8% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| LVO | -83.8% | |
| Market (SPY) | 75.6% | 24.2% |
| Sector (XLC) | 68.8% | 18.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LVO Return | -61% | -50% | 142% | 6% | -68% | -32% | -89% |
| Peers Return | 35% | -47% | 79% | 21% | 6% | 40% | 132% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| LVO Win Rate | 33% | 33% | 75% | 58% | 33% | 44% | |
| Peers Win Rate | 60% | 31% | 67% | 50% | 48% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| LVO Max Drawdown | -81% | -64% | -52% | -73% | -73% | -54% | |
| Peers Max Drawdown | -32% | -55% | -31% | -32% | -38% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: Z, ZIP, PAAI, GOOGL, META.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | LVO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.8% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.4% | -9.5% |
| % Gain to Breakeven | 65.1% | 10.5% |
| Time to Breakeven | 113 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.6% | -6.7% |
| % Gain to Breakeven | 24.4% | 7.1% |
| Time to Breakeven | 5 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -54.5% | -24.5% |
| % Gain to Breakeven | 119.7% | 32.4% |
| Time to Breakeven | 82 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -26.5% | -33.7% |
| % Gain to Breakeven | 36.1% | 50.9% |
| Time to Breakeven | 12 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.8% | -19.2% |
| % Gain to Breakeven | 42.5% | 23.8% |
| Time to Breakeven | 18 days | 105 days |
In The Past
LiveOne's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.8% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | LVO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.8% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.4% | -9.5% |
| % Gain to Breakeven | 65.1% | 10.5% |
| Time to Breakeven | 113 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -54.5% | -24.5% |
| % Gain to Breakeven | 119.7% | 32.4% |
| Time to Breakeven | 82 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -26.5% | -33.7% |
| % Gain to Breakeven | 36.1% | 50.9% |
| Time to Breakeven | 12 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.8% | -19.2% |
| % Gain to Breakeven | 42.5% | 23.8% |
| Time to Breakeven | 18 days | 105 days |
In The Past
LiveOne's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LiveOne (LVO)
LiveOne, Inc. (LVO) is a digital media company primarily focused on the acquisition, distribution, and monetization of various audio and video content, encompassing live music, internet radio, and podcasting. The company provides a comprehensive entertainment ecosystem that delivers a wide array of streaming and on-demand content to its users.
Its main products and services are centered around its core platforms: LiveXLive, a platform for live music streaming and events; PodcastOne, dedicated to podcasts and vodcasts; and Slacker Radio, offering curated streaming music. LiveOne actively produces original music-related content, curates live events for streaming, and provides digital radio services on a white-label basis to automotive and mobile original equipment manufacturers. Additionally, the company develops and distributes personalized merchandise through wholesale and direct-to-consumer channels. The primary customers for LiveOne are individual consumers seeking digital music, podcast, and live event entertainment, as well as businesses like automotive and mobile OEMs utilizing its white-label solutions.
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Here are 1-2 brief analogies for LiveOne (LVO):
Imagine Spotify, but with a significant focus on streaming live music events in addition to on-demand music and podcasts.
It's like a digital version of SiriusXM, offering internet radio, on-demand music, podcasts, and live music event streaming.
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- LiveXLive Platform: A live music streaming platform that provides access to live events, audio streams, and video content.
- PodcastOne Platform: A dedicated podcasting platform offering a wide range of podcasts, vodcasts, and original episodic content.
- Slacker Radio Service: A streaming music service providing digital internet radio and personalized music experiences.
- Original Content Production: Creation and curation of original music-related content, including live music events, shows, and episodic series.
- White-Label Digital Media Services: Provision of digital internet radio and music services to automotive and mobile OEMs, including support and regulatory assistance.
- Personalized Merchandise: Development, manufacturing, and distribution of personalized merchandise and gifts through various channels.
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LiveOne (LVO) primarily serves individual consumers through its various digital media platforms and direct-to-consumer channels. The major categories of customers it serves are:
- Subscribers and Users of Streaming Platforms: Individuals who consume live music, on-demand audio, Internet radio, and video content through LiveOne's platforms such as LiveXLive and Slacker Radio. This includes both paying subscribers and users of ad-supported tiers.
- Podcast and Vodcast Consumers: Individuals who access and engage with a wide range of audio and video podcast content primarily through the PodcastOne platform.
- Merchandise and Gift Buyers: Individuals who purchase personalized merchandise and gifts directly from LiveOne's direct-to-consumer distribution channels.
While LiveOne also provides white-label digital radio services to automotive and mobile original equipment manufacturers (OEMs) and distributes merchandise through wholesale channels, the company's description heavily emphasizes its direct-to-consumer platforms and "users," indicating that individual consumers form its primary customer base.
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Robert Ellin
CEO and Chairman
Robert Ellin is the founder, CEO, and Chairman of LiveOne, Inc., leading its overall strategy and the LiveOne and Slacker business units. He founded LiveOne in 2015, raised initial capital, negotiated festival and distribution rights, and spearheaded the acquisition of Slacker Radio, taking LiveOne public in December 2017. Ellin is also the founder and managing director of Trinad Management, a Los Angeles-based hedge fund. He has a history of launching, selling, and taking public numerous ventures, including overseeing investments in gaming companies like Majesco and THQ. Before founding LiveOne, Ellin served as Chairman of Digital Turbine, which he successfully took public, and ran and sold the Internet media company iWon to Barry Diller's IAC.
Ryan Carhart
Chief Financial Officer, Vice President, Controller, Treasurer and Secretary
Ryan Carhart serves as the Chief Financial Officer, Vice President, Controller, Treasurer, and Secretary of LiveOne and its subsidiaries, a position he was promoted to effective February 19, 2025. He is a seasoned financial professional with extensive experience in operations, corporate strategy, development, financial reporting, mergers and acquisitions, and public company compliance. Carhart previously served as the Chief Financial Officer at AUDIENCEX, an AI-powered digital ad partner, where he guided the company through its acquisition by Vado Corp. His background also includes roles as Senior Director of Finance and Controller at MNTN, an advertising software builder, and at PricewaterhouseCoopers, specializing in technology and communications. He has been credited with implementing measures expected to achieve over $23 million in cost savings for LiveOne and played a key role in securing a new loan agreement with East West Bank.
John Semmelhack
President, CPS
John Semmelhack is the President of Content, Product, and Strategy (CPS) for LiveOne. In this role, he oversees the divisions critical for the company's membership and advertising revenue streams.
Kit Gray
President, Co-Founder, PodcastOne
Kit Gray is the President and Co-Founder of PodcastOne, a key podcasting subsidiary of LiveOne. He co-founded PodcastOne in 2012 as part of Courtside Group and was instrumental in its growth. PodcastOne was later sold to LiveOne in 2020 for $18 million. He has been recognized for recognizing the industry shift from radio to podcasting and for his expertise as an experienced radio executive.
Sue McNamara
EVP, Sales, PodcastOne
Sue McNamara is the EVP of Sales for PodcastOne. She is also identified as the Chief Revenue Officer at PodcastOne. With over 20 years of experience in radio sales for CBS, she has successfully transitioned her expertise to podcasting and PodcastOne.
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Key Risks to LiveOne (LVO)
- Financial Health and Going Concern Risk: LiveOne faces significant financial instability, evidenced by a low Piotroski F-Score indicating poor or weak business operations. The company has experienced negative revenue growth in recent years, including a 6.6% decline over three years and a 32% decline last year. It continues to report operating losses, particularly because its live events segment has not generated sufficient direct revenue to cover production costs. LiveOne also exhibits liquidity issues, with a current ratio between 0.63 and 0.68 and a quick ratio of 0.64. Furthermore, the company has negative shareholder equity, resulting in a high debt-to-equity ratio, and its Altman Z-Score of -6.75 places it in the distress zone, suggesting a high risk of bankruptcy within the next two years. The probability of bankruptcy for LiveOne Inc (LVO) is estimated to be approximately 59.9%. The company also has less than a year of cash runway based on its current free cash flow.
- Revenue Concentration and Ability to Attract/Retain Users: LiveOne is highly reliant on a single large customer, with its largest OEM customer accounting for 45% of its FY 2025 revenue. This significant revenue concentration exposes the company to substantial risk if this relationship changes. Additionally, the company generates a considerable portion of its revenue from e-commerce merchandise sales, and a failure to maintain or increase this stream could adversely impact its financial results. A critical risk is the company's ability to attract, maintain, and increase its user base and paid members, as well as successfully convert existing OEM drivers to direct subscribers.
- Intense Competition and High Content Acquisition Costs: LiveOne operates in a highly competitive media industry, facing strong competitive pressure, particularly within its podcasting segment. This competition can negatively affect revenue-sharing dynamics and audience acceptance for new shows, making it difficult for LiveOne to secure favorable partnerships and maintain its market position against larger competitors. The bargaining power of content suppliers, such as major music labels and top-tier talent, is high due to concentrated ownership, which often results in less favorable and costly licensing terms for LiveOne. These licensing costs represent a significant portion of the company's revenue and can squeeze profit margins. Moreover, LiveOne faces a substantial threat from substitutes, including free platforms like YouTube and TikTok, and individual subscriber power is high due to the frictionless nature of switching between streaming services.
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The clear emerging threat to LiveOne (LVO) is the accelerating consolidation and aggressive expansion of dominant technology and media companies into all forms of digital audio and video content, directly overlapping and outcompeting LiveOne's diversified offerings. Major players such as Spotify, Apple, Amazon, Google (YouTube), and SiriusXM are investing heavily in and integrating live music streaming, podcasting, internet radio, and original content production into their existing ecosystems. These companies possess vastly superior financial resources, larger user bases, and established distribution channels, allowing them to acquire exclusive content, develop advanced features, and offer comprehensive, often bundled, services that can significantly marginalize LiveOne's standalone platforms like LiveXLive, PodcastOne, and Slacker Radio. This trend threatens to diminish the unique value proposition of LiveOne's services as consumers increasingly gravitate towards integrated "super-platforms" for their digital media consumption.
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The addressable markets for LiveOne's main products and services are as follows:
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Podcasting/Vodcasting: The global podcasting market size was valued at approximately USD 31.29 billion in 2024 and is expected to reach USD 217.63 billion by 2032, growing at a compound annual growth rate (CAGR) of 27.61% over the forecast period of 2025–2032. The U.S. podcasting market alone was valued at USD 8.76 billion in 2024 and is projected to reach USD 60.48 billion by 2032, with a CAGR of 27.31% over 2025-2032.
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Live Music Streaming: The global live streaming market size was estimated at USD 87.55 billion in 2023 and is projected to reach USD 345.13 billion by 2030, growing at a CAGR of 23.0% from 2024 to 2030. North America accounted for over 32.60% of the global live streaming market revenue in 2023.
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Internet Radio/Streaming Music Services: The global music streaming market size was estimated at USD 46.66 billion in 2024 and is projected to reach USD 108.39 billion by 2030, growing at a CAGR of 14.9% from 2025 to 2030. The U.S. music streaming market size was estimated at USD 11.05 billion in 2024 and is projected to reach USD 23.69 billion by 2030, rising at a CAGR of 13.4% from 2025 to 2030.
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Personalized Merchandise and Gifts (Music Merchandise): The global merchandise market, specifically the band merchandise industry, is projected to grow to US$16.3 billion by 2030.
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* **Growth in the Audio Division (Slacker Radio and PodcastOne)**: LiveOne's audio segment, encompassing Slacker Radio and PodcastOne, is a primary driver of revenue growth. The company has projected significant revenue for its Audio Division, with guidance for FY2025 set between $130 million and $140 million. Slacker Radio has demonstrated substantial growth in its member base, exceeding 3.5 million members. PodcastOne continues to expand its content library through strategic acquisitions of new podcasts, enhancing its appeal and audience reach. Furthermore, the renewal and expansion of the exclusive audio-advertising partnership with DAX United States for 2026, which includes new in-car audio opportunities, is expected to result in a projected 30% year-over-year increase in programmatic audio advertising revenues.
* **Expansion of B2B Partnerships**: A crucial element of LiveOne's growth strategy is the aggressive pursuit and expansion of its business-to-business (B2B) partnerships. The company has already secured over $65 million in partnership revenue and boasts a record B2B pipeline with more than 100 potential partnerships. LiveOne plans to launch three new partnerships with Fortune 500 companies by year-end, with two of these partners having over 50 million monthly paying subscribers, which are expected to significantly boost distribution and revenue. These partnerships span diverse sectors including automotive (such as the existing partnership with Tesla where many new vehicles include a LiveOne membership), carriers, retail, consumer electronics, entertainment, and hospitality.
* **Increase in Membership and Subscription Revenue**: A direct contributor to LiveOne's revenue growth is the continued increase in its paid memberships. The company reported a 36% year-over-year increase in paid members by December 31, 2023, adding 687,000 new subscribers. Membership revenue accounted for 54% of LiveOne's total revenue in Q3 Fiscal Year 2024, highlighting its importance as a consistent and growing revenue stream.
* **Strategic Content Expansion and Potential Mergers & Acquisitions (M&A)**: LiveOne is actively focused on expanding its content offerings, particularly within its PodcastOne subsidiary, by acquiring new podcasts and broadening its network. This strategy directly enhances the company's appeal to a wider audience and increases monetization opportunities. Additionally, LiveOne's CEO has noted a "sharp acceleration in inbound M&A opportunities," suggesting that strategic acquisitions could play a role in future revenue growth by expanding market share, diversifying content, and integrating new technologies or platforms.
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Share Repurchases
- LiveOne expanded its share repurchase program in February 2026, with approximately $6 million remaining under authorization.
- As of November 15, 2024, LiveOne had repurchased approximately 4.4 million shares of common stock under its Buyback Program, with about $6.2 million remaining for future repurchases of LVO and/or PODC shares.
- The company repurchased $6.5 million in stock as of October 1, 2025, with $5.5 million remaining in its buyback program.
Share Issuance
- In March 2026, LiveOne issued 500,000 common shares at a deemed price of $7.50 per share to Merlin to settle $3.75 million in outstanding and future music royalty fees, with no cash proceeds received by LiveOne.
- LiveOne completed a $10 million common stock equity financing at $7.50 per share by October 2025.
- As part of cost-reduction initiatives in February 2026, over $11 million in liabilities were converted into equity at $7.50 per share.
Inbound Investments
- LiveOne completed a $10 million common stock equity financing at $7.50 per share by October 2025.
Outbound Investments
- During Fiscal Year 2026, LiveOne acquired an additional 771,000 shares of its subsidiary, PodcastOne (PODC), at an average price of $1.93 per share, including 186,636 shares in Q3 Fiscal 2026 at $2.17 per share.
- PodcastOne, a LiveOne subsidiary, acquired four podcasts in multi-year deals in March 2026.
Capital Expenditures
- In the last 12 months (prior to March 2026), LiveOne's capital expenditures were -$3.42 million.
- LiveOne is investing in growth and technology, including AI initiatives, which have helped reduce operating expenses by 52% year-over-year and streamlined staff from 350 to 88 team members.
Peer Outperformance in Interactive Media & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -15.1% | 26.4% | 41.6% | ECHO 262% · TMUS 42% · SHEN -60% |
| Publishing | 5 | 21.6% | 20.2% | 18.4% | NYT 49% · NWSA 40% · SCHL 18% |
| Integrated Telecommunication Services | 21 | -16.1% | 3.2% | -25.7% | IQST 1481% · GSAT 229% · AD 154% |
| Movies & Entertainment | 24 | -1.1% | 72.3% | -34.3% | IMAX 221% · MSGS 128% · BATRA 116% |
| Alternative Carriers | 4 | 29.6% | 15.9% | -42.7% | IRDM 14% · UNIT -41% · LUMN -45% |
| Advertising | 19 | -18.5% | -10.1% | -61.8% | APP 316% · EVC 50% · OMC 29% |
| Broadcasting | 15 | -13.8% | -21.2% | -68.8% | FOXA 85% · NXST 26% · WBD 11% |
| Interactive Media & Services ← | 30 | -38.1% | -35.1% | -71.0% | GOOGL 154% · META 88% · EVER 13% |
| Interactive Home Entertainment | 8 | -51.8% | -55.1% | -87.6% | TTWO 41% · RBLX -39% · PINS -65% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| LiveOne Earnings Notes | 12/16/2025 | |
| With LiveOne Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.75 |
| Mkt Cap | 6.8 |
| Rev LTM | 1,631 |
| Op Inc LTM | 30 |
| FCF LTM | 118 |
| FCF 3Y Avg | 111 |
| CFO LTM | 205 |
| CFO 3Y Avg | 217 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.0% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 11.5% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 63.9% |
| Op Inc Chg 3Y Avg | 37.7% |
| Op Mgn LTM | 4.5% |
| Op Mgn 3Y Avg | -1.6% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 9.4% |
| CFO/Rev 3Y Avg | 12.4% |
| FCF/Rev LTM | 5.6% |
| FCF/Rev 3Y Avg | 7.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Slacker | 57 | 66 | 52 | ||
| PodcastOne | 52 | 43 | 35 | ||
| Media | 5 | 9 | 13 | 42 | |
| Corporate expenses | 0 | 0 | 0 | 0 | |
| Audio | 75 | ||||
| Advertising | 21 | ||||
| Membership Services | 34 | ||||
| Merchandising | 5 | ||||
| Sponsorship and Licensing | 4 | ||||
| Ticket/Event | 2 | ||||
| Total | 114 | 118 | 100 | 117 | 65 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Slacker | 4 | 13 | 9 | |
| PodcastOne | -6 | -15 | -7 | |
| Media | -8 | -1 | -3 | -13 |
| Corporate expenses | -9 | -11 | -9 | -29 |
| Audio | -2 | |||
| Total | -20 | -13 | -10 | -44 |
Price Behavior
| Market Price | $3.09 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/22/2018 | |
| Distance from 52W High | -56.0% | |
| 50 Days | 200 Days | |
| DMA Price | $4.22 | $4.94 |
| DMA Trend | down | down |
| Distance from DMA | -26.8% | -37.5% |
| 3M | 1YR | |
| Volatility | 83.0% | 79.5% |
| Downside Capture | 444.35 | 206.44 |
| Upside Capture | 30.57 | 111.73 |
| Correlation (SPY) | 17.7% | 25.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.02 | 2.44 | 1.35 | 1.20 | 1.66 | 1.41 |
| Up Beta | -0.37 | 0.70 | -0.04 | 0.03 | 1.03 | 1.65 |
| Down Beta | 6.43 | 2.42 | -0.26 | 0.73 | 2.02 | 1.08 |
| Up Capture | 118% | 122% | 122% | 133% | 159% | 84% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 7 | 16 | 26 | 59 | 117 | 344 |
| Down Capture | 542% | 460% | 304% | 199% | 158% | 111% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 24 | 35 | 65 | 128 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LVO | |
|---|---|---|---|---|
| LVO | -35.4% | 79.6% | -0.21 | - |
| Sector ETF (XLC) | -5.8% | 15.4% | -0.59 | 18.3% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 25.4% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 7.6% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | 2.8% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 8.6% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 21.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LVO | |
|---|---|---|---|---|
| LVO | -36.1% | 89.3% | -0.10 | - |
| Sector ETF (XLC) | 6.7% | 21.0% | 0.23 | 24.1% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 26.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 3.2% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 5.7% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 18.1% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 16.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LVO | |
|---|---|---|---|---|
| LVO | -21.3% | 96.7% | 0.15 | - |
| Sector ETF (XLC) | 9.1% | 22.1% | 0.46 | 24.6% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 22.8% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 3.5% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 8.1% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 13.2% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/15/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -11.6% | -20.6% | -13.6% |
| 6/24/2026 | -12.2% | 5.3% | -19.9% |
| 2/12/2026 | 8.1% | 3.3% | 10.2% |
| 11/12/2025 | 3.2% | -10.5% | 4.5% |
| 8/13/2025 | 5.5% | -1.5% | -14.1% |
| 6/18/2025 | -11.1% | -5.1% | -23.2% |
| 4/11/2025 | -8.9% | -15.3% | 3.3% |
| 2/13/2025 | -3.7% | -12.3% | -18.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 8 | 10 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 5.5% | 10.3% | 9.0% |
| Median Negative | -7.8% | -10.5% | -14.1% |
| Max Positive | 21.1% | 18.9% | 41.0% |
| Max Negative | -18.5% | -24.6% | -32.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -11.6% | -20.6% | -13.6% |
| 6/24/2026 | -12.2% | 5.3% | -19.9% |
| 2/12/2026 | 8.1% | 3.3% | 10.2% |
| 11/12/2025 | 3.2% | -10.5% | 4.5% |
| 8/13/2025 | 5.5% | -1.5% | -14.1% |
| 6/18/2025 | -11.1% | -5.1% | -23.2% |
| 4/11/2025 | -8.9% | -15.3% | 3.3% |
| 2/13/2025 | -3.7% | -12.3% | -18.7% |
| 11/7/2024 | -6.2% | -1.8% | 16.9% |
| 8/13/2024 | 6.0% | 11.4% | 0.7% |
| 5/30/2024 | -2.3% | 3.5% | -8.7% |
| 2/8/2024 | 1.4% | -4.1% | 27.2% |
| 11/9/2023 | -6.6% | -4.1% | -12.3% |
| 8/10/2023 | 10.5% | 15.7% | 7.9% |
| 2/9/2023 | 2.1% | 18.9% | 17.9% |
| 11/10/2022 | 4.1% | -5.4% | -20.2% |
| 8/11/2022 | -7.2% | -24.6% | -23.2% |
| 2/10/2022 | 21.1% | 13.3% | -7.3% |
| 10/28/2021 | -18.5% | -14.6% | -32.4% |
| 8/12/2021 | -9.8% | -18.4% | -2.3% |
| 4/5/2021 | -0.2% | -3.6% | 0.5% |
| 2/11/2021 | -7.3% | -16.1% | -13.7% |
| 11/16/2020 | -8.3% | 9.3% | 41.0% |
| SUMMARY STATS | |||
| # Positive | 9 | 8 | 10 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 5.5% | 10.3% | 9.0% |
| Median Negative | -7.8% | -10.5% | -14.1% |
| Max Positive | 21.1% | 18.9% | 41.0% |
| Max Negative | -18.5% | -24.6% | -32.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 06/29/2026 | 10-K |
| 12/31/2025 | 02/13/2026 | 10-Q |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 07/15/2025 | 10-K |
| 12/31/2024 | 02/14/2025 | 10-Q |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 07/01/2024 | 10-K |
| 12/31/2023 | 02/13/2024 | 10-Q |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 06/29/2023 | 10-K |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 06/29/2026 | 10-K |
| 12/31/2025 | 02/13/2026 | 10-Q |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 07/15/2025 | 10-K |
| 12/31/2024 | 02/14/2025 | 10-Q |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 07/01/2024 | 10-K |
| 12/31/2023 | 02/13/2024 | 10-Q |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 06/29/2023 | 10-K |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 06/29/2022 | 10-K |
| 12/31/2021 | 02/14/2022 | 10-Q |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 07/14/2021 | 10-K |
| 12/31/2020 | 02/16/2021 | 10-Q |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 06/26/2020 | 10-K |
| 12/31/2019 | 02/07/2020 | 10-Q |
| 09/30/2019 | 11/08/2019 | 10-Q |
LiveOne — Investor Video Playlist
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Interactive Media & Services Resources |
| Social Media Today |
| Search Engine Land |
| Nieman Journalism Lab |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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