LiveOne Announces Milestone Revenues; $31M+ For Q3 FY 2024 And $87M+ FYTD 2024; Record $80M For The Audio Division For The First 9 months, +25% YoY; Record Q3 Audio Division Revenue of $27M+; Expands Partnership With Telsa To include Truck Division
Portfolio Pulse from Benzinga Newsdesk
LiveOne, Inc. (NASDAQ:LVO) reported preliminary unaudited financial results for Q3 FY 2024, with revenues exceeding $31M for the quarter and $87M for the fiscal year to date. The Audio Division achieved a record $80M in revenue for the first nine months, marking a 25% year-over-year increase. Additionally, LiveOne expanded its partnership with Tesla to include the Truck Division. The company has around $11M in cash and $28M in short-term assets. These results are preliminary and unaudited, and adjustments may occur during the quarter-end closing procedures.
January 16, 2024 | 5:32 pm
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LiveOne reported strong preliminary Q3 FY 2024 revenues, with significant growth in its Audio Division and an expanded partnership with Tesla. The company's financial position includes $11M in cash and $28M in short-term assets.
The positive preliminary financial results, especially the record revenues and growth in the Audio Division, are likely to be viewed favorably by investors, potentially leading to a short-term increase in LVO's stock price. The expansion of the partnership with Tesla could also be seen as a significant positive development. However, the company notes that these figures are unaudited and subject to change, which introduces some uncertainty.
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