- FY24: Expects $118.5M revenue, $14.4M Adjusted EBITDA* (excluding $3.5M CPS division loss) - Q4 FY24: Expects $30.3M revenue, $4.3M Adjusted EBITDA* (excluding $1.6M CPS loss) - LVO Anticipates Completing CPS restructuring adding $3M Adjusted EBITDA* in FY25 - Maintains FY25 guidance: $140M-$155M revenue and $16M-$20M Adjusted EBITDA* - Audio Division FY25 guidance: $130M-$140M revenue, $20M-$25M Adjusted EBITDA* and $17M+ positive cash flow - Repurchased ~4M shares since program inception, with $5M remaining dedicated for continued repurchases - $10.6M current cash position - Senior Management Will Host a Live Conference Call and Audio Webcast Beginning at 10:00 A.M. ET on Thursday, May 30, 2024 LOS ANGELES, CA, April 22, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- LiveOne (NASDAQ:LVO), an award-winning, creator-first music, entertainment, and technology platform, announced today certain of its preliminary and unaudited results for the fourth quarter and fiscal year ended March 31, 2024 ("Q4 Fiscal 2024" and "Fiscal 2024", respectively). Robert Ellin, CEO: "LiveOne had an exceptional year, with strong revenue growth in both subscription and sponsorship. We've strengthened our balance sheet by converting all debt to equity at $2.1 per share and maintaining a cash position of close to $11 million.  "LiveOne is poised for 30%+ revenue growth after closing a $20 million+ B2B partnership, adding over 30 podcasts, and seeing subscriptions surge to 3.7 million, led by Tesla. Our publishing subsidiary has grown 300%, celebrity brands possesses huge revenue potential, we are witnessing a resurgence in demand for live streaming and pay-per-view, and our scripted hit podcasts, such as Vigilante and Varnamtown, have sparked unprecedented studio interest.  "LiveOne will remain aggressive on our share buyback program as we believe our stock remains undervalued and continue to focus on delivering results for our shareholders." The select anticipated financial results discussed in this press release are based on management's preliminary unaudited analysis of financial results Q4 Fiscal 2024. As of the date of this press release, LiveOne has not completed its financial statement reporting process for Q4 Fiscal 2024 and Fiscal 2024, and LiveOne's independent registered accounting firm has not audited the preliminary financial results discussed in this press release. During the course of LiveOne's quarter-end and fiscal year-end closing procedures and review process, LiveOne may identify items that would require it to make adjustments, which may be material, to the information presented above. The estimated preliminary unaudited financial results contained in this press release are based only on currently available information as of the date hereof. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary financial results, and are not guarantees of future performance and may differ from actual results. The timing, price and actual number of shares repurchased under the stock repurchase program will be at the discretion of LiveOne's management and will depend on a variety of factors, including stock price, general business and market conditions, and alternative investment opportunities. The repurchase program will continue to be executed consistent with LiveOne's capital allocation strategy, which will continue to prioritize growing LiveOne's business. Under the stock repurchase program, ...