LiveOne Signs Strategic B2B Partnership With Fortune 500 Media Conglomerate; Partnership Delivers Minimum $20M Revenues For Calendar 2024; Raises FY24 Revenue Guidance To $118M-$120M Vs $118.31M Est.
Portfolio Pulse from Benzinga Newsdesk
LiveOne (NASDAQ:LVO) has announced a strategic B2B partnership with a Fortune 500 media conglomerate, which is expected to generate a minimum of $20M in revenues for calendar year 2024. This partnership has led LiveOne to raise its FY24 revenue guidance to $118M-$120M, compared to the estimated $118.31M. The company now has over 35 potential B2B partnerships across 8 verticals. The updated revenue guidance reflects management's optimism for continued revenue growth and business execution through Fiscal 2025. However, these are preliminary expectations and are subject to change during the quarter-end and fiscal year-end review process.
December 15, 2023 | 1:48 pm
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POSITIVE IMPACT
LiveOne's new partnership with a Fortune 500 media conglomerate is expected to contribute a minimum of $20M to its 2024 revenues, leading to an increased revenue guidance for FY24 to $118M-$120M.
The announcement of a significant partnership and the consequent increase in revenue guidance are strong positive indicators for LiveOne's financial performance and growth prospects. This news is likely to be received positively by investors, potentially leading to a short-term increase in the stock price. However, the confidence score is not at the maximum due to the caution that these are preliminary figures and subject to adjustments during the financial review process.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100