Overview

• US music and entertainment platform's Q4 revenue declined and missed analyst expectations

• Q4 adjusted EBITDA improved to $0.3 mln from a loss last year on cost cuts

• Company expanded stock repurchase program by over $7 mln, with $5 mln remaining

Outlook

• LiveOne raises fiscal 2027 revenue guidance to $85 mln–$95 mln

• Company expects fiscal 2027 adjusted EBITDA of $8 mln–$10 mln, excluding corporate overhead

• LiveOne expects to close a major acquisition this quarter and continues to evaluate M&A opportunities

Result Drivers

• SLACKER REVENUE DECLINE - Q4 revenue decrease was primarily driven by reductions in Slacker revenues

• COST REDUCTION - Operating expenses fell 52% year-over-year due to AI-driven efficiencies and workforce cuts

• IMPAIRMENT EXPENSES - Improvement in operating loss was largely due to lower impairment expenses compared to prior year

Company press release: ID:nGNXbsK6Wh

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Miss	$18.90 mln	$20.10 mln (4 Analysts)
Q4 EPS		-$0.65

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the entertainment production peer group is "buy"

• Wall Street's median 12-month price target for LiveOne Inc is $12.00, about 97.4% above its June 23 closing price of $6.08

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.