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what it is
LiveOne runs four core services around music, podcasts, and custom merchandise.
how it gets paid
Last year Liveone made $114M in revenue. Audio streaming and memberships was the main engine at $48M, or 42% of sales.
why growth slowed
Consolidated revenue fell 3.4% last year on the annual line shown here. A single quarter can still look “up huge” versus an easy year-ago compare—either way, the business is still losing money.
what just happened
A recent print lost $1.31 a share; total company revenue for that quarter was on the order of ~$25–30M—do not confuse a segment subtotal with consolidated revenue.
At a glance
C++ balance sheet — some cracks in the foundation
50/100 earnings predictability — expect surprises
-$2.00 fy2024 eps est
$114M FY2024 revenue (filing line—matches bridge below, not a separate Street est)
~15.8% operating loss margin
xvary composite: 22/100 — weak
What they do
LiveOne runs four core services around music, podcasts, and custom merchandise.
LiveOne reaches 9 platforms, including iOS, Android, Roku, Apple TV, and Spotify. That is a lot of doors for one small company with 113 employees. Your playlists, podcasts, and memberships live in the same app, so leaving means rebuilding habits.
How they make money
$114M
annual revenue · their business grew -3.4% last year
Audio streaming and memberships
$48M
+2.0%
Podcasting
$28M
+6.0%
Custom merchandise
$22M
5.0%
Events and ads
$16M
+1.0%
The products that matter
subscriptions and streaming audio
Audio streaming & memberships
$48M · ~42% of revenue
matches the segment table above. management has flagged a Slacker-related drag—this line has to stabilize for the ~$114M consolidated story to work.
largest line
shows, ads, and network revenue
Podcasting
$28M · ~25% of revenue
second line on the segment table. management talks up enterprise pipelines; what matters is what hits reported consolidated revenue.
mix driver
merch, live, and distribution
Merchandise, events & reach
~$38M revenue · 1.3B+ devices claimed
custom merchandise (~$22M) plus events and ads (~$16M) from the table above. device-reach headlines are not the same as dollars—monetization still has to show up here.
scale vs dollars
Key numbers
$114M
annual revenue
This is the size of the whole machine. Against -15.8% margin, the scale still leaks cash.
-15.8%
operating margin
Negative operating margin → for every $100 of sales, roughly $15.80 was operating loss on the figures summarized here.
$15M
long-term debt
Debt is 20% of capital, so the balance sheet has less room for error.
1.6
beta
A 10% market move can turn into a 16% swing in your position.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $15M (20% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for LVO right now.
source: institutional data · return history unavailable
What just happened
missed estimates
LiveOne lost $1.31 a share on a recent print where total company revenue was around ~$28M for the quarter (ballpark one-fourth of the ~$114M annual top line).
That lines up with the consolidated revenue table on this page. Growth at a segment line is not the same thing as profit at the parent—operating losses are still the headline.
~$28M
quarterly revenue
-$1.31
eps (q)
n/a
n/a
the number that mattered
The $1.31 loss per share mattered most because it shows the model still leaks cash even against a ~$114M annual revenue base.
source: company earnings report, 2026
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What could go wrong
the #1 risk is B2B pipeline conversion failing while the audio division keeps slipping.
high
Persistent unprofitability
The trailing profit margin is -30.5%. That's a business still losing about 30 cents on every $1 of sales, not a company one efficiency tweak away from clean profitability.
If losses stay this large, financing risk gets louder and the stock keeps trading like a rescue project.
high
Pipeline execution risk
The bull case leans on 100+ active enterprise opportunities worth $1M+ each. If those opportunities stall, shrink, or arrive with weak economics, the thesis breaks where it matters — in reported revenue.
This is the gap between a real mix shift and another quarter spent discussing potential.
med
Core audio deterioration
Management already blamed a Slacker downturn for missing expectations. Audio streaming and memberships is still ~$48M, or ~42% of revenue in the table above, so weakness there hits the whole ~$114M base.
If the legacy base shrinks faster than B2B grows, the turnaround moves backward even with new logos.
med
Dilution as a financing tool
The company is converting up to $3.75M of royalties into equity at $7.50 per share. That lowers cash strain, but it also moves value from future holders to current obligations.
For a stock trading at $4.48, dilution is not background noise. It changes the payoff math.
A -30.5% profit margin, $15M of long-term debt, and a thesis tied to 100+ enterprise opportunities that still need to convert is a fragile setup. if the B2B mix shift slips, the losses will dominate the story again.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
B2B wins turning into reported revenue
The company says it has 100+ active enterprise opportunities worth $1M+ each. you want signed deals with dollars attached, not a larger pipeline count.
risk
Whether the Slacker decline gets worse
Management already blamed a downturn in Slacker for missing expectations. if that segment keeps slipping, the turnaround math gets harder fast.
calendar
Q4 and full-year fiscal 2026 results
This is where you check whether cost cuts changed the economics, not just the commentary. one cleaner quarter will not fix everything, but it would help.
trend
Leadership structure changes
Management said a new leadership structure is in the works. sometimes that's a reset. sometimes it's what companies do when the current plan did not land.
Analyst rankings
earnings predictability
50 / 100
middle of the pack. in human-speak, analysts do not have a clean read on what this business earns next.
price stability
5 / 100
very low stability. when a stock trades between $4 and $10 in a year, you are buying volatility with the story.
source: institutional data
Institutional activity
institutional ownership data for LVO is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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