LVO - Earnings call 4 2022

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Operator

Thank you for standing by, and welcome to the LiveOne, Inc. Fourth Quarter and Full Year Fiscal 2022 Webcast. My name is Sam, and I will be your moderator for today's call. [Operator Instructions] I'd now like to turn the call over to our host, Aaron Sullivan, Interim CEO (sic) [ CFO ]. Aaron?

Aaron Sullivan

you. Thank welcome the update full company's ended XX, and conference financial fiscal LiveOne's March for call fourth XXXX. to morning, and business results year Good quarter and and Rob to current like you expectations, based that call that statements assumptions CEO are are CFO. I the remind call involve of forecasts and on today's Sullivan, Interim and on and Presenting uncertainties. various on Chairman; made myself, some forward-looking Aaron would are Ellin, risks today's and limited future to, the not regarding the These the future of statements are include, performance statements company, financial future but business. results growth expected including and expected in results a from variety Actual those for reasons. the call materially differ of discussed may on company's with SEC on materially company's refer differ ended about including actual from subsequent the these Please XXXX, forward-looking the for filings. described XX-K for March report results the annual to XX, in its and statements, to factors, filings year information the those Form cause which could SEC

call will the available webcast, investors of company by section to following highlight recorded. Investor this on does visit call. the to reconciliations Investor measures revise and for available the obligation The the company's find its discussion, call. I'd non-GAAP questions, it this call, a undertake the being and important of this And its making IR to XXXX. following views your in its and in required contains responses which the content. information is is posted to investors reflects update is information date will of financial media company release, website today most as its date you this at law, including time-sensitive that encourages to on to comparable except management's financial periodically the the And shortly or conclusion the not ir.liveone.com. of Relations website to website via discussed after as June XX, earnings of any be You Relations GAAP measures company the replay like The

or is of it form strictly the is property consent Additionally, or call the without retransmission webcast any expressed the and the the written company's prohibited. any rebroadcast of redistribution, company in

Now turn to over Rob like I to the Ellin. CEO, LiveOne's would call

Robert Ellin

over XX% XX% I are you $XXX the for previous revenue and XX, quarter business I'm year-over-year to in Aaron, update $XX a million, happy year. good increase and for fiscal adjusted to million or an like financial this we a would to fiscal joining year ended thank last $XX and record March our increase challenging million. compared million morning, posted and $X you, report, to everyone. EBITDA XXXX year million and to million $XXX $XXX guidance fourth results. for of at Despite we million of of revenues $XX.X quarter in our environment, maintaining Thank XXXX, XXXX

For report of first $XX in 'XX, of achieve will will that of approximately be This the million company's $X history positive current the quarter million, first we time revenues fiscal the we positive. EBITDA. $XXX,XXX expect EBITDA to to adjusted

market capital EBITDA. in past changed and path has line quarters, to the environment have time pivoted the positive our achieve the we As and the to backdrop X strategically over accelerate

operations and team anticipated on basis, on to in consolidated of overhead, focus reductions plan has expense EBITDA. corporate generating a believe is current still generating and from further we both positive in to an result our part as operations on from we over and opportunity reduce As efficiencies and cash $XX LiveOne's savings. million our cost operations focus streamlining I implemented have which the in increase costs

extinguished. and over $X.X balance our in million cost to liabilities short-term addition sheet In improved with payables savings, we again

every have as need we streaming the Podcast user new well. In as completed We for within Automotive to refresh our announced launched brings As and Tesla, proudly content partnership all LiveOne car LiveOne's all upcoming a This allows our mobile is membership Google's preinstalled Slacker sold service music LiveOne user the we memberships. Tesla vehicles. cars America. into reach car your Tesla device without in-car with a is exclusive experience our December, X-year recently Tesla Radio stations in in PodcastOne these us interface many on from may seamlessly top you a platform. all launch added service, and with of car and paid Android of and into including default know, LiveOne the integrated current for through directly radio new

passed as last over of stations, Sprint Verizon, Dodge, well over cell all mobile and Nissan, listen consumers continues major events. Android in to wide as radio Chevrolet, of now across curated app original XXX Slacker podcast the XXX automotive songs from their The virtually XX enjoy the have Slacker and carriers, vodcast up XX content major Lincoln their which and allows including members Volvo, year, live to is XX pre-installed original devices. Ford, Automotive million OEMs, library in allowing all and and from automobiles adoption see and LiveOne XX to T-Mobile, cars We our exclusive cars others.

with through We partnering radio service white-label Automotive automotive as this we well for growth partnerships by Android Tesla BXB partnerships. other opportunities to have the OEMs, compelling just as with Slack do so default

and XXXX, the We reach billion plus under [ XX in look to we we by paying subscribers X% million assets ultimately next [ line billion, in to revenues. to million of and million reach X XX, path put close The few paid have total a now addressable is see and June members XXXX. $X members us the over market passed paid as million would X.X X.X X.X for years current of members. As market ] ] with

which as of XX #X exceeding is by XXXX XXX passed over important Tesla podcasts platform well as audience CNN, audio advertising owned upon podcast over to list largest We access a advertising new available quarter of to a all is exclusive and will we X as both a we market sponsored PodcastOne the to platforms grown There's than people number some over and has since for PodcastOne Samsung, is week. I to revenues. of alone publishers. The now of at LiveOne million our in around unique a the XXX of last as IR. podcasts top Spotify, as over We've years division, Apple, fast. Podcast expand the over that independent as exclusive looking XXX sponsors. be in our robust experience PodcastOne revenues would in podcast have globe. those But We're outlets, both is listener its us meaningful launched X result podcast Podtrac. successful It's podcast Automotive history next cars, ranking podcasts. ranked and Samsung can have to billion our our subsidiary, more an produces including PodcastOne put, all than the Our one added Sports advertising podcast million, well the was has growing XXX out quarter total over sponsors, add, devices, growth distribution million our advertiser-supported podcast rights franchise and of opportunity understand per global shows on-demand XX of making did and of blue-chip in and the stream been a XX series PodcastOne downloads Fox, has securing leading exceeding XXX wholly provider integration first $X top more exclusive Barstool Apple, With by XXXX XXX above XX Spotify, this of for sales digital a acquired that unique continues the quarter XXXX PodcastOne, July year. as network recurring expanded on devices. Simply the shows as team look this over as has quarter, in sponsors acquisition. Android company. in job on in of outstanding episodes we monthly has done like X.X as new a pipeline

the any X the week calendar In company. fact, more than PodcastOne has XXXX in sales history million-plus time of in

launching now front, opening generated The million pay-per-view opportunity pay-per-view platform and our XXXX, massive. pay-per-view is the May pay-per-view of in ] in since Live up. events. Live On [ related sales $XX.X we Imagine

you the the new of we an announced public existing previously business our intention the over to traded our full would Aaron? existing a spin equity it a distribute know, review out as to many anticipate XXXX. I quarter portion fourth pay-per-view separately to Sullivan, in company's pay-per-view LiveOne of company shareholders. We As spin to and plan fiscal numbers. hand out now will to who Aaron to occur back like

Aaron Sullivan

was a in XXXX. ended fiscal increase XXXX, Thanks, and a a margin of net $XX.X Contribution record XXXX paid million and the XX% $XXX $XX.X $XX Rob. $XX.X including of a XXXX. a fourth million, in Full adjusted overview increased year-over-year. revenue fiscal to to minutes million XX% million KPIs, to provide just fiscal in loss spend EBITDA a for record million as year-end our results year compared members increase was quarter with our few March XX, I'll fiscal XX% record an versus

XX% and year For events XXXX, to XX% the year events ticketing subscription of compared subscription and advertising and full advertising sponsorship XX% in XX% fiscal and revenue sponsorship prior ticketing merchandising our was period. comprised

million. We including adjusted as We reported XX% total XXXX. the Rob. XX, contractual we increased over memberships, EBITDA now to subject margin and revenue. a XXX,XXX $XX.X members including who sheet. of $XX.X the Total restricted million, dispute million, QX paid million, to of XX, of Included cash at balance compared turning $XXX,XXX. And March million XX% was X.XX XXXX. ended to of X.XX numbers X.XX with currently back let increase $X.X hand million while revenue members, it year-over-year members, to paid ended to QX which fourth million a over for with June not increased quarter Briefly fiscal recognizing XXXX, our contribution me loss was the at For free of are of are in $X.X net the members cash are certain

Robert Ellin

you model job unique where pieces create watch, Great, the synergistic spoken about engage to I've attend, business for our component associated a in offering and consumers, business you've great transact. done. the a complementary previously listen, Aaron, thank and flywheel

ownership integrating memberships, with We events, have live membership subscriptions through premium selling are positioning. products and content, on NFPs that merchandise, expanding further pay-per-view and revenue customers including packages, opportunities will for monetization and consumer BXC

and white with expect activities BXB deal opportunities expect both radio to other major blue X-figure to to streaming as partnerships almost partnerships we outdoor the I monthly Slacker our be the and Things fully Google advertise as our our smartwatches, deals chip manufacturers sponsored securing our grow Android to to platform are significant video. We that this with deals to fully a with opportunities. and and with especially traction, on connected expand NFP year we from sponsors, membership opportunity gamification growing markets partnership well first grow are this X-figure new from devices significant fitness companies label Our continue year. basis, service, see through of of Internet automotive able device,

able globe. the We also expect relationship with year this our around be to to carriers expand

the change, return see in with cycle with their to calendar own through on fighting and the and partnerships events their own Apple music XXXX really and we about to the live own 'XX. live their press As pedal consumers. look starting calendar gas to Android are of carriers our own events back content excited We're

the first cost and the have to time now from at want Thank especially in $X corporate EBITDA current we I'll to operations very any our support. implemented least XXXX with our their for to thank much, to both history positive for everyone support, achieve up reduction of significant quarter you and are for and continued quarter. I their we in questions. open it EBITDA strategically positioned million $XXX,XXX and for overhead, Lastly, shareholders June expense

Operator

[Operator of the Alliance Brian comes first with Partners. Instructions] question Global from Our Kinstlinger line

Brian Kinstlinger

just the see level? a cut. how coming really people, and being at want business. that How office start is or are agreements. to maybe you supplier get Great the is much a cost break in down what's the could to cutting If changes much high the costs. on I I Can handle with the space cost effort cutting

Robert Ellin

Yes.

right? Brian, platform. order in program with this the that of costs, have start and so of close of X our to now down have That was events the wood content beginning music the or because programming been half years is franchises to now on original last shut cost well million. have our to shows has big drop built. $XX And cost is XXX costs that for So in we was programming is all one of across you We part to on, world had the over year built. our because going franchises Those most

X have of a those. this as in COVID, So to the stars the see then consolidate been of top savings. And and company, right? going the and able been more able the from to terms cost We've doors and big rising is the to acquisitions people, we've and that's opened consolidate more of cream of you're

you sheet. see Head been across and spin-offs of then be As their up balance synergies see to our those the these we've you're board, together. And Sales, of really divisions, to operators our so pick those shine and hard of across Marketing divisions teams the of company, put clean going our worked able to Head we've the able to those

and literally this, superstar extinguishment We've CFO going the payables. million more want year, payables, be $X.X sheet tremendously, doing -- add that has an As that? is of acquired has a has coming. Aaron to you $XX know, you're you balance as ] and Aaron when part really anything done see we job on of to do cleaned of we in you just exceptional to proven those acquisition that on up [ additional Radio, to see this close of a took just million done big Slacker to

Aaron Sullivan

I covered Rob. think it, you Thanks.

Brian Kinstlinger

the gross in you cost of year So $XX had the to where see in EBITDA the even that cuts we'll where that's that -- to with down million margin and is the upper coming benefits the content talked the what majority the XXs? the we'll that of are some see goals maybe of start to about positive? expand Maybe is last to mid- past, dramatically, cost

Robert Ellin

want Aaron, that? take do to you

Aaron Sullivan

Yes.

a That's there's think I absolutely significant right. portion there.

contribution that of is out. the amount Live Events there coming from But that's We're So -- operating positive we're substantial the of margins expecting in in to piece we margin had see business. our to see past, expecting haven't a business. expense contribution

expect would I to So say in those X be you lines.

Brian Kinstlinger

us guidance events. Great. And seasonality in some live waiting. the have you events then revenue of the I remind can you know on based major

that COVID wise businesses. You've to while? based about on not seasonal some as got How it as events much think live ever impact in we do being a an basically

Robert Ellin

in I in business multiple be there's to mean seasonality right. going this Yes. ways,

our is going the large in grow Our tentpole going business, quarter a events are and quarter substantially. And that fourth as and going in quarter fourth to kick fourth well. advertising as in, to advertising third is that all well then come merchandise businesses as portion to

a was you'll And this think every forward. terrific So growth see quarter. going I quarter

million look each you'll As see in you at that $XXX million number, $XXX guidance going forward. to continue quarter growth to

Brian Kinstlinger

you December fiscal in quarter Fourth [indiscernible] or when fourth advertise quarter?

Aaron Sullivan

Just to advertising see we the be merchandising. is the where should QX -- clarify, our that and

Robert Ellin

[indiscernible]. December is always

Aaron Sullivan

Fiscal QX [indiscernible] QX.

Brian Kinstlinger

questions. X more Yes.

paid really about done Firstly, impacting recession X how a you subscribers. well think the in subscribers? do You've quarters adding paid last

that at or how sales? So guidance? impact a, that that, churn contemplated revenue could is of ticket low and/or How end the

Robert Ellin

right? XX and that million to win starting right, eyeballs, pick conservative fortunate, And amount those to we've we've on more BXB in I cautious these with our that then in road, I pretty the up billion We're we're going time. think one going just right, right? we're platforms automated to see subscriber, numbers tremendous and very a win at across hitting expansion Tesla, right? have pretty to about, We're on oil those numbers. But So that's all customer price see that of right partnerships. think BXB plus, car into And of more going you're not X.X partnerships think talked this to you're I road. have and a You hits cars, the going in this. another been being every our we $XXX

tremendous you're free only get as paid, already calls in partnerships gotten cuts, BXB see it's think of though of lot partnerships. going last BXB we've on have made those and and you're a quarter, one higher a with. So we'll even area a And I've right? amount those to partner a that lot those the see the And that we that and the we're of of second both partnerships. in subscribers, we're the us seeing a And hiring that amount And I business, side. up of you're days land going tremendous BXB to on growing substantial couple third

Brian Kinstlinger

Great.

on Tesla. Lastly,

side, all? staying to your On changes connectivity at could policies impact churn how connected, customers improve the churn their or

Robert Ellin

mean average levels. been is anybody car hard exciting a Yes. to at right, I a have especially with has it's those and now. $XX,XXX the ever going quite been ever again, into built interesting, connectivity We're this imagine package for it's without connectivity us. car that to And

a seeing package. we're $XX that's into built tremendous that So [indiscernible]

directly. XX% has cost They're starting take probably customer the but for to then will those of Tesla to We paid to be time, far. And are some of to end us paying pay always to that first to so is going get directly year, out directly, their and us paid be consumer this $XX. they're going the of XX% piece those by For continue our the of as of from us, right? Tesla

think and and hard talked us we're publishers, So those strong now and expand where a it's forward with continue been getting labels pretty of excellent, to I this really hopefully, puts the expand world. we've and outstanding record a very close we going lot. think expand And to can next knows, is us it's who we and I in the payables expand with overseas rest about It's for to grow position exciting that.

Operator

The from Ladenburg. Jon next is with question Hickman

Jon Hickman

the about of little quarters? the you key there's events you December was spring know I expecting? bit kind could that awakening, if a you're event, wondering live but others for talk could I and elaborate Rob, September Aaron, on the your

Robert Ellin

that like out pay-per-view going just careful -- X last the little X we last I weekends announced we've week Yes, did to want this a our that be on T-Pain, we business, did bit weekend, we're in B.I. to alone this Yes. just spin

be a of shows like live kicking to that launch boxing, you're that a be Silverman, partnership league and event, pay-per-view tentpole show but and TV reality a on as multiple event, a produce And some Then a going TV year react with of full big And that last the in events to those Office many only flywheel to to those So of I announced The for that there'll Ben going quickly. announcements was and event that tuned, this We've do and where happens, events that. grow. right, it. And actually of where next revenues liked like to wrestling, so or as see lot year. social an it you're music we've be continue you're of XXX see and to around a see announced many a not stay event, world, also our there'll biggest is live just the live will right, again. that know, right? over digital shortly. who the but UFC to in And you announcement spin-off it's around happening And part division very events, live announce reality going think a

see think So fronts. I all from event. see that you're I -- to one just don't you're see think going to you're to it's it going going don't

to events. upcoming And going see quarter. that you're many this excited we're really to talk think about in I

Jon Hickman

more One question.

million. that -- I $XX like guidance expenses seeming to your and I if million like going operating the million to your Am in million. million of have It right? and cash QX at EBITDA for calculating and somewhere -- $X.X have looks you're $X look to $X.X your $XX.X So

Robert Ellin

do Aaron, take to that? want you

Aaron Sullivan

what pretty I close we that's think have. Yes, to

Jon Hickman

expect drop stock-based What was QX. there forward? then do And in you comp going for fairly big a

Aaron Sullivan

impact -- I think onetime a was going there. to it's there

been see the increased has quite you'll previously. think not I levels but to it it

Jon Hickman

million $X quarter, like a like that? More something

Aaron Sullivan

that's probably there. think a I benchmark good

Jon Hickman

That's it way. from me. Nice quarter by the

Robert Ellin

million to just highlight $XX Jon, this right expect said, of we as And we Yes. that, million $X EBITDA year. to

quarter... each So

Aaron Sullivan

For the year

Jon Hickman

going -- lot of kicking a -- And to a grow we're significantly making from to cost here. these savings, in. grow are It's the going it's lot significant these of changes right, just

time. this right, got with to company. really, really you've me And to And around it exciting quickly. see and been change, when for it's cycles a you've the got change to you long So move

this So hard we're we're year. shooting and $XX for million fighting

Operator

comes from next Kevin question H.C. of line the Wainwright. The with Dede

Kevin Dede

does So your Rob, permanent? superstar become CFO when

Robert Ellin

couldn't and job and from ask have It's great better moved a them K completed there. I query. he's who done just the

proving So [ the into seriously mean team. stay our I situation, a credits tuned, his difficult job to very second, I've done And I very, last worked outstanding really ], the over board good keep stepping great coming right, replaced Mike And just Mike job took a big as job. what had And a a with excellent. most imminently. was to in Q it's as he's up. he's this He's the the investors from anybody years really hearing Aaron done step across an doing. of job. across board banks and

proud and Aaron we're stay of So tuned.

Kevin Dede

You mentioned year subscribers. target? paid X your million subs, And right? as So calendar this that is that's

Robert Ellin

Yes.

But an exact do given million we -- right on haven't they date Tesla to just listen, they could given can they date we haven't expect make you this cars year, every that. now. X if So car got exact sell alone, on yes, on an

with of who right, to we about long And We're right, like of did said, why for you're been and cars, we substantially think we Automotive. that we hired You're need see and Lives. audiences it -- more other I TikTok talking in Music with did and that to And and Android being did going as those to going now part already this with with grow a pay-per-view JPMorgan, be deals like music. the as know. going on XX partnership are time, Facebook leveraging that built, BXB and was you partnering I massive I've for

going they start it. distributors change going starting all see fight years. see when BXB these we're you own with carriers are with massive seeing every cycle and A, partnerships. And to in relationship to that and Verizon own to of we're floodgates start signs back digital that X you're turbine, like their own Sprint want opening just they more customers. these the The Tesla, to to to with back, content, BXB B, You're fighting their like in a past. X to we their right, the and like partnerships telltale And have want own T-Mobile

open very those us in think puts back visit. a up. And cycle strong are as stores I it starting that to changes,

much so content. robust have We

BXB the We we're -- We're original subs commodity excellent to be else podcasts. that artisans the have competitors, deals original fiber those of a content, and right, signs and platform, market that X,XXX this all We're us a coming of and there's already low everyone has. audience. half right us $XX see radio substantial XXX to partners and telltale with go and real have sub. to have out offering internet stations, that to risk in partnering who those spend very lot us, on all to our margins have price programming, be And having going traffic I just already without a going upside

Kevin Dede

seems and to me the apologies seems ignorant little that just as international and for as in where of to expand hope, rapidly order to perspective Can stands me need? going that it give more you're an us update on acquisition this, my expansion. you'll need licenses it a you that So on but you to

Robert Ellin

Yes.

those. start future, We fully in very twofold. So lot near the announcing expanding expect to licenses

know, you already, of audience traffic X/X overseas As is right, and audience that coming our about in.

to XX% lot overseas. near future. million include licenses, thing is is way. be not next U.S., Netflix, X what in And Spotify land we're we So the that And already will talking advertising say right? know, does bigger number very number sponsored Same you with be that overseas going those overseas, about XX% dollars to subscription. would a any if we're So right? seeing you and As come I dollars

Kevin Dede

And then please. last Rob, for question me,

your give some and trends on seeing you're Just paid any us indication give the churn? Can members on us insight to you conversion from subscribers.

Robert Ellin

a buying superfans. from I right? industry. first What on membership superfans, platform mean your everything is the to right. we in Those events a is focused watch high music a about talked in events on The having our kick program right, superfans spend lowest creative on that we've hat, Yes. churn starting subscription, really to and buy NFT, T-shirt, We're so have always the money an buying pay-per-view and audio, to to live year. a

our know, was first in As it did you we millions of dollars last and NFTs dollars. year,

expect substantially. We that to grow

superfans. they translate membership, more of right, able thing Tesla us, company. here sum and parts we're put unique this original a in on have And most think, it's gives we and programming, just all day to tentacles in original exciting for The music, to able talking so looking podcast [indiscernible] all get, basis. to really built keep upside. stickier built right, the just that you together, the across ourselves same building the programming. traffic stay touch build listen seeing customers. and creators not have we're see is more are a are, the superfans more our to we're be of And first relevant platform, now that the on we're but only our those terms same across and our to what more subscription regular are and also across right? We're across more be audience website, entire more taking spending seeing a we It's every TAMs audio, a we I ever keep not able in that to all to to want that us beating have and pay-perX-view, not create platform. position that seeing of on those they and all So the subsidiaries, be into And to those focus to the of the not our our with superfans just and But podcast, is listen a massive significant putting in unique if on created watch app,

Operator

We follow-up of from with have line Brian Kinstlinger Alliance. a the

Brian Kinstlinger

a have few. I

on obviously than I -- great. which of at more given Tesla are subscribers but I so a taking? First the is what And added what sense, paid sales the how nonpaid And quarters, business, members? makes look well is for perspective. X have strong, strong. been how conversion Tesla you've If the is it consecutive and the it conversion is other doing converting is know all, different to XXX,XXX so for long want it you at side of rate? cycle doing

Robert Ellin

question. like right? great a buyer. is right? conversion We're fire, back we X% ticket about to pay-per-view just of It's a opening long-term converting of The conversion of just beginning live a it, And X% as said, into up the memberships,

You know of behavior the consumer. that habitual

You what what they like. they sports music know like,

greatest right? and that the world, You lot in advance. in team And of right It's for a so what the much tailor, to those fans. understand super is built our tech doing our in they're tech easier of now again one is

in I that and think important addressable rate. of investors. continue XX million subscribers. we're is We've and market to to we're to by beat do, X% than X most X% the to XXXX. said going quickly if going number we're for to we get long-term succeed That's that X% And million going less

our those billion right? revenues, right? If you get which billion, It's just is is #X same And billion that's off. starting, in all millions to million or those competitors. $X.X of to thing. with XX not over to they $XXX billion price subscribers. Spotify them about never we're focused going long these, right? of superfans, better on million the now just for content, you to taking conversion the get stickiness X% well sticky to this going of [indiscernible] right, as XXXX, pay-per-view right, And We're in of any And how $X you of stay it's was industry. amazing is. talking conversion, and the world they those hit hundreds and cross to market. subscribers, giving half just more We're spend, podcasting podcasting, In the growing We're It's only it's a right? fan. it. It that the right? In superfans, in beat how this over by $XX our $X you business, much We're

Brian Kinstlinger

off would more be meaningful? on X is the EBITDA the pay-per-view impact Is on Great. numbers. of it What your guidance? spinning

Robert Ellin

it, going Well, and of wholly careful spinning we're We're remember, to subsidiary. be not on still only a out it's piece a these valuations, -- right, owned being right.

we're buying expand we're a, we're a stock. to to we parts sell Board I of we unleash trading separate you such we shares, hold we members a valuations going such may and subsidiaries percentage robust We're shareholders, right? as of buyback one position as get shares back where going right, tremendous any of bottom spinning and really privately, X.X to are, low this valuation. fall right? a, of a well low like multiple up that valuations only right? we're got year's have just revenues. That But trading today if and is buying that a this, million stock, LiveOne, revenues this that, market. at personally will And that of to there We're unique out these these to fair be have more of the value that subsidiary, out is million the announced where happens, b, tight. When to know been X bought amount the that still the at our We're a the open on divisions. that division. back at are spin these in subsidiary, now line promised. back the valuation You of value, control those they'll way piece including, in the opportunity XX% trading the get may But And in at will end looking to and market subsidiaries right, -- than

Brian Kinstlinger

of stock see some I think, the out maybe paper XX-K, But lastly, didn't the where the then I as the is since it's today? -- And share count buybacks to out to payables, the well as given call. outstanding using take

Robert Ellin

XX So we with to... approval the bought maybe now our back. it's just shares about -- little diluted, we've that And bit lower fully a million right got about

Brian Kinstlinger

[indiscernible].

Robert Ellin

XX million. no, No,

Brian Kinstlinger

No.

thinking Sorry. something else, was Yes. sorry. I of sorry, Yes, Sorry,

Robert Ellin

Yes, about million. XX

million trading So market revenue. $XX million to on a cap $XXX $XXX at again, we're million in

we'll going in we're continue So And buy so And market open that. in the time to as we back. open, continue as to is certainly my we buyback. do to street buy right, to well plan and do to members, many just the that. continue I've Board got the I approvals, stated as every to window of the continue that And

it's right, do way the Maybe at it's As buyback give well. as cash you to giving bunch the opportunity. if we continues that as to that going do point a the expands spinout, you trading an trade It's it spinout, of us today. that

Operator

We questions time. no further have waiting at this

Robert the closing for call So over remarks. to back to I'd like hand

Robert Ellin

consumer our -- want every a engagements repurposed audio across just they through everyone across only that listens our an their really to about out We've Billions now since streaming. for actually hitting time and live I that but billion exciting did just support. inception. difficult X is It's they of the We've back the and podcasts. Not to had board. This LiveOne, thank listen, for market. billion socials. metric across of broken downloads watched, sent our XX

changes of So only that continue the showcasing this build but that And we're have Q to million EBITDA the a on million to to focused away, and we've look tremendous that starting of that said our million that is earlier, to to to and a expect number. out, weeks $XX coming starting year, a EBITDA disciplines here I the build EBITDA and upside. implemented, is that forward Aaron moat hitting team I I and as amount my see implemented, I $XX I positive, we're And which entire grow. couple brand $X

shareholders your I everyone, and I and this you, difficult you So appreciate all market. as thank appreciate of in time

Operator

the Webcast. your Inc. Year That and Quarter participation. LiveOne, Full concludes XXXX Fourth all you for Thank

now lines. may disconnect your You

LiveOne (LVO) 29 Jun 222022 Q4 Earnings call transcript