# EDGAR Filing Document

**Accession Number:** 0001491419
**File Stem:** 0001213900-25-108787
**Filing Date:** 2025-11
**Character Count:** 33223
**Document Hash:** 2a95a626f5421fef7a9c1d6a5011132b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-108787.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001213900-25-108787

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251112

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LiveOne, Inc.
- **CENTRAL INDEX KEY:** 0001491419
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING PLACES [5812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 980657263
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38249
- **FILM NUMBER:** 251469305

**BUSINESS ADDRESS:**
- **STREET 1:** 269 SOUTH BEVERLY DRIVE
- **STREET 2:** SUITE 1450
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90212
- **BUSINESS PHONE:** (310) 601-2505

**MAIL ADDRESS:**
- **STREET 1:** 269 SOUTH BEVERLY DRIVE
- **STREET 2:** SUITE 1450
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LiveXLive Media, Inc.
- **DATE OF NAME CHANGE:** 20170808

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOTON, CORP
- **DATE OF NAME CHANGE:** 20100507

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 12, 2025**

**LIVEONE, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38249** | **98-0657263** |
| (State or other jurisdiction <br> of incorporation) | (Commission File Number) | (I.R.S. Employer <br> Identification No.) |

---

**269 South Beverly Drive, Suite 1450**

**<u>Beverly Hills, CA 90212</u>**

(Address of principal executive offices) (Zip Code)

**<u>(310) 601-2505</u>**

(Registrant's telephone number, including area code)

**<u>n/a</u>**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Common stock, $0.001 par value per share** | **LVO** | **The NASDAQ Capital Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02 Results of Operations and Financial Condition.**

On November 12, 2025, LiveOne, Inc. (the "Company") issued a press release announcing its operating and financial highlights and results for the second quarter and six months ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

The information included herein and in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 7.01 Regulation FD Disclosure.**

On November 6, 2025, the Company issued a press release announcing that it plans to hold a conference call and audio webcast to provide a business update and discuss its operating and financial results for the second quarter ended September 30, 2025 on November 12, 2025. A copy of the press release is attached hereto as Exhibit 99.2.

The information included herein and in Exhibit 99.2 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 99.1\* | [Press release, dated November 12, 2025.](ea026527001ex99-1_liveone.htm) |
| 99.2\* | [Press release, dated November 6, 2025.](ea026527001ex99-2_liveone.htm) |
| 104\* | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Furnished herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **LIVEONE, INC.** | **LIVEONE, INC.** |
| Date: November 12, 2025 | By: | /s/ *Ryan Carhart* |
|  | Name: | Ryan Carhart |
|  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**LiveOne (Nasdaq: LVO) Reports $38M Six-Month Revenue and $36.6M Audio Division Revenue with Over $1.1M Adjusted EBITDA\***

**Leveraging AI Efficiencies Reduced Quarterly Operating Expenses from $22M to $6M, Reduced Staff from 350 to 95**

Los Angeles, CA, November 12, 2025 – LiveOne (Nasdaq: LVO), a leading music, entertainment, and social platform delivering premium livestreams, digital media, and original content worldwide, announced today its financial results for the second quarter ("Q2 Fiscal 2026") and first six months ("1H Fiscal 2026") of its fiscal year ending March 31, 2026 ("Fiscal 2026"). LiveOne will host a conference call and webcast today, November 12, 2025.

**Financial Highlights**

● Q2 Fiscal 2026 Revenue: $18.8 million

● Audio Division Q2 Fiscal 2026 Revenue: Over $18 million, maintaining positive segment Adjusted EBITDA\* of $0.7 million

● PodcastOne Fiscal 2026 Guidance: Revenue of $56–60 million and Adjusted EBITDA\* of $4.5–6 million

● $5+ million capacity remaining in current board approved buyback program

● Acquired additional 584K shares of PodcastOne shares at average price of $1.81 per share in Fiscal 2026, including 347,305 during Q2 Fiscal 2026 at a price of $1.67 per share

**Strategic & Operational Highlights**

● Closed 7 major B2B deals over the past 12 months, increased to over $52 million in contracted revenues

● Amazon partnership expanded from a $16.5M three-year deal to a $20M+ annual run rate

● Fortune 250 partner increased to a $26M+ revenue run rate

● Tesla ad-supported users surpassed 1 million

● Plans to launch new B2B partnership reaching 30M+ monthly paying subscribers

● 72 B2B deals currently in the pipeline

● AI-driven marketing increased ARPU by 60% (>$5) and boosted Premium conversions by 22%+

● Three podcasts sold to major TV and streaming platforms

● Upcoming "Reality Olympics" live event — LiveOne's largest in five years — set for December 11 at LAFC's BMO Stadium

● Launching subsidiary LiveOneAfrica in partnership with Virtuosity Music targeting the massive market with 100M+ subscribers generating over $500M revenues

● Actively evaluating M&A opportunities, including a potential subsidiary sale

LiveOne's CEO and Chairman, Robert Ellin, stated, "LiveOne's second quarter results highlight the power of focus, efficiency, and innovation. AI-driven cost reductions and strong B2B growth have made LiveOne leaner, smarter, and positioned for sustained shareholder value."

---

| | |
|:---|:---|
| **Q2 Fiscal 2026 Earnings Conference Call and Webcast** | **Q2 Fiscal 2026 Earnings Conference Call and Webcast** |
| **Date**: | Wednesday, November 12, 2025 |
| **Time:** | 10:00 AM Eastern Time (7:00 AM Pacific Time) |
| **Webcast Link**: | https://events.q4inc.com/attendee/890221572 |
| **Dial-in:** | (800) 715-9871 |
| **International Dial-in**: | +1 (646) 307-1963 |
| **Conference Code:** | 2075411 |

---

**<u>Q2 & 1H Fiscal 2026 and Q2 & 1H Fiscal 2025 Results Summary (in $000's, except per share; unaudited)</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended<br> September 30,** | **Six Months Ended<br> September 30,** | **Three Months Ended<br> September 30,** | **Three Months Ended<br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $37969 | $65672 | $18762 | $32594 |
| Operating loss | $(8601) | $(2186) | $(4568) | $(1400) |
| Total other income (expense) | $(927) | $(1649) | $(1097) | $(926) |
| Net loss | $(9568) | $(3875) | $(5684) | $(2317) |
| Adjusted EBITDA\* | $(2829) | $5788 | $(1017) | $2885 |
| Net loss per share basic and diluted | $(0.98) | $(0.43) | $(0.52) | $(0.24) |

---

**<u>Q2 Fiscal 2026 Results Summary Discussion</u>**

For Q2 Fiscal 2026, LiveOne posted revenue of $18.8 million versus $32.6 million in the same period in the prior year, driven primarily by reductions in Slacker revenues.

Q2 Fiscal 2026 Operating Loss was ($4.6) million compared to a ($1.4) million Operating Loss in the second quarter ended September 30, 2024 ("Q2 Fiscal 2025"). The $3.2 million in Operating Loss was largely a result of a decrease in Slacker revenue offset by reductions in operating expenses.

Q2 Fiscal 2026 Adjusted EBITDA\* was ($1.0) million, as compared to Q2 Fiscal 2025 Adjusted EBITDA\* of $2.9 million, a decrease of $3.9 million. Q2 Fiscal 2026 Adjusted EBITDA\* was comprised of Audio Division Adjusted EBITDA\* of $0.7 million, Other Operations Adjusted EBITDA\* of ($0.3) million and Corporate Adjusted EBITDA\* of ($1.4) million.

**<u>About LiveOne</u>**

**<u>Forward-Looking Statements</u>**

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne's reliance on its largest OEM customer for a substantial percentage of its revenue; LiveOne's ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne's ability to continue as a going concern; LiveOne's ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne's ability to implement its recently announced digital asset treasury strategy and/or purchase digital assets from time to time pursuant to such strategy, including for the maximum announced amount, and other risks related to such strategy; LiveOne's intent to repurchase shares of its and/or PodcastOne's common stock from time to time under LiveOne's announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne's ability to maintain compliance with certain financial and other debt covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; LiveOne's ability to repay its indebtedness when due; LiveOne's ability to satisfy the conditions for closing on its announced additional convertible debentures financing; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne's ability to pay any amounts due in connection with any such legal proceedings; significant legal, commercial, regulatory and technical uncertainty and risks related to Bitcoin, Ethereum and other digital assets; regulatory developments related to digital assets and digital asset markets; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 15, 2025, Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 14, 2025, and in LiveOne's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

**<u>\* About Non-GAAP Financial Measures</u>**

To supplement our consolidated financial statements, which are prepared and presented in accordance with the accounting principles generally accepted in the United States of America ("GAAP"), we present Contribution Margin (Loss) and Adjusted Earnings Before Interest Tax Depreciation and Amortization ("Adjusted EBITDA"), which are non-GAAP financial measures, as measures of our performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss and or net income (loss) or any other performance measures derived in accordance with GAAP or as an alternative to net cash provided by operating activities or any other measures of our cash flows or liquidity.

We use Contribution Margin (Loss) and Adjusted EBITDA to evaluate the performance of our operating segments. We believe that information about these non-GAAP financial measures assists investors by allowing them to evaluate changes in the operating results of our business separate from non-operational factors that affect operating income (loss) and net income (loss), thus providing insights into both operations and the other factors that affect reported results. Adjusted EBITDA is not calculated or presented in accordance with GAAP. A limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, Adjusted EBITDA should be considered in addition to, and not as a substitute for operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, Adjusted EBITDA as presented herein may not be comparable to similarly titled measures of other companies.

Contribution Margin (Loss) is defined as Revenue less Cost of Sales before (a) Cost of Sales share-based compensation expense, (b) depreciation, and (c) amortization of developed technology. Adjusted EBITDA is defined as earnings before interest, other (income) expense, income tax expense, depreciation and amortization and before (a) non-cash GAAP purchase accounting adjustments for certain deferred revenue and costs, (b) legal, accounting and other professional fees directly attributable to acquisition activity, (c) employee severance payments and third party professional fees directly attributable to acquisition or corporate realignment activities, (d) certain non-recurring expenses associated with legal settlements or reserves for legal settlements in the period that pertain to historical matters that existed at acquired companies prior to their purchase date and a one-time minimum guarantee to effectively terminate a live events distribution agreement post COVID-19, and (e) certain stock-based compensation expense. Management does not consider these costs to be indicative of our core operating results.

With respect to projected full Fiscal 2026 Adjusted EBITDA, a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to purchase accounting adjustments, acquisition-related charges and legal settlement reserves excluded from Adjusted EBITDA. We expect that the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.

For more information on these non-GAAP financial measures, please see the tables entitled "Reconciliation of Non-GAAP Measure to GAAP Measure" included at the end of this release.

**<u>LiveOne Press Contact</u>:**<br>press@liveone.com

Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and X at @liveone.

**Financial Information**

The tables below present financial results for the three and six months ended September 30, 2025 and 2024.

**LiveOne, Inc.**

**Consolidated Statements of Operations (Unaudited)**

***(In thousands, except share and per share amounts)***

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br> September 30,** | **Three Months Ended<br> September 30,** | **Six Months Ended<br> September 30,** | **Six Months Ended<br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenue:** | $18762 | $32594 | $37969 | $65672 |
| **Operating expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of sales | 16166 | 24518 | 32991 | 49605 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 870 | 1491 | 2130 | 2922 |
| &nbsp;&nbsp;&nbsp;Product development | 442 | 1160 | 1376 | 2231 |
| &nbsp;&nbsp;&nbsp;General and administrative | 5706 | 6283 | 9781 | 11790 |
| &nbsp;&nbsp;&nbsp;Impairnnent of intangible assets |  |  |  | 176 |
| &nbsp;&nbsp;&nbsp;Amortization of intangible assets | 145 | 542 | 291 | 1134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | **23330** | 33994 | 46570 | 67858 |
| **Loss from operations** | (4568) | (1400) | (8601) | (2186) |
| **Other income (expense):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense, net | (1003) | (808) | (1690) | (1667) |
| &nbsp;&nbsp;&nbsp;Change in fair value of digital assets | 79 |  | 79 |  |
| &nbsp;&nbsp;&nbsp;Other income(expense) | (173) | (118) | 684 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | (1097) | (926) | (927) | (1649) |
| **Loss before provision (benefit) for income taxes** | (5665) | (2326) | (9528) | (3835) |
| Provision (benefit) for income taxes | 19 | (9) | 40 | 40 |
| **Net loss** | (5684) | (2317) | (9568) | (3875) |
| Net loss attributable to non-controlling interest | (111) | (458) | (382) | (846) |
| **Net loss attributed to LiveOne** | $(5573) | $(1859) | $(9186) | $(3029) |
| **Net loss per share – basic and diluted** | $(0.52) | $(0.24) | $(0.98) | $(0.43) |
| **Weighted average common shares – basic and diluted** | 11170612 | 9465818 | 10048453 | 9460506 |

---

**LiveOne, Inc.**

**Consolidated Balance Sheets (Unaudited)**

***(In thousands)***

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2025** | **March 31,**<br>**2025** |
|  | | **(Audited)** |
| **<u>Assets</u>** |  |  |
| **Current Assets** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $11724 | $4119 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 30 | 30 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 7650 | 8299 |
| &nbsp;&nbsp;&nbsp;Inventories | 1462 | 1586 |
| &nbsp;&nbsp;&nbsp;Prepaid expense and other current assets | 1446 | 1212 |
| **Total Current Assets** | 22312 | 15246 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 2515 | 893 |
| &nbsp;&nbsp;&nbsp;Goodwill | 21712 | 21712 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | 2279 | 2569 |
| &nbsp;&nbsp;&nbsp;Intangible digital assets | 4921 |  |
| &nbsp;&nbsp;&nbsp;Other assets | 81 | 97 |
| **Total Assets** | $53820 | $40517 |
| **<u>Liabilities and Stockholders' Equity (Deficit)</u>** |  |  |
| **Current Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | $29145 | $25180 |
| &nbsp;&nbsp;&nbsp;Accrued royalties | 4757 | 5490 |
| &nbsp;&nbsp;&nbsp;Notes payable, current portion | 284 | 623 |
| &nbsp;&nbsp;&nbsp;Convertible note, current portion | 300 |  |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 967 | 2141 |
| &nbsp;&nbsp;&nbsp;Senior secured line of credit | - | 2950 |
| **Total Current Liabilities** | 35453 | 36384 |
| &nbsp;&nbsp;&nbsp;Notes payable, net | 149 | 150 |
| &nbsp;&nbsp;&nbsp;Lease liabilities, noncurrent | 76 | 99 |
| &nbsp;&nbsp;&nbsp;Convertible note, noncurrent | 14885 |  |
| &nbsp;&nbsp;&nbsp;Other long-term liabilities | 11206 | 12236 |
| &nbsp;&nbsp;&nbsp;Deferred income taxes | 60 | 60 |
| **Total Liabilities** | 61829 | 48929 |
| **Commitments and Contingencies** |  |  |
| **Stockholders' Equity (Deficit)** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock, $0.001 par value; 10,000,000 shares authorized; 7,947 and 14,002 shares issued and outstanding as of September 30, 2025 and March 31, 2025, respectively | 7947 | 14002 |
| &nbsp;&nbsp;&nbsp;Common stock, $0.001 par value; 500,000,000 shares authorized; 11,467,091 and 9,672,451 shares issued and outstanding as of September 30, 2025 and March 31, 2025, net of treasury shares, respectively | 10 | 97 |
| &nbsp;&nbsp;&nbsp;Additional paid in capital | 251594 | 233495 |
| &nbsp;&nbsp;&nbsp;Treasury stock | (835) | (250) |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (275001) | (265119) |
| **Total LiveOne Stockholders' Deficit** | (16285) | (17775) |
| &nbsp;&nbsp;&nbsp;Non-controlling interest | 8276 | 9363 |
| Total stockholders' deficit | (8009) | (8412) |
| **Total Liabilities and Stockholders' Deficit** | $53820 | $40517 |

---

**LiveOne, Inc.**

**Reconciliation of Non-GAAP Measure to GAAP Measure**

**Adjusted EBITDA\* Reconciliation (Unaudited)**

***(In thousands)***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net**<br>**Income**<br>**(Loss)** | **Depreciation**<br>**and**<br>**Amortization** |<br>**Stock-Based**<br>**Compensation** | **Non-<br> Recurring Acquisition and**<br>**Realignment**<br>**Costs (1)** | **Other**<br>**(Income)**<br> **Expense (2)** | **(Benefit)**<br>**Provision**<br>**for Taxes** |<br>**Adjusted**<br>**EBITDA** |
| **Three Months Ended September 30, 2025** | | | | | | | |
| Operations – PodcastOne | $(975) | $131 | $1930 | $- | $- | $- | $1086 |
| Operations – Slacker | (716) | 29 | (29) | 2 | 317 |  | (396) |
| Operations – Other | (1035) | 63 | 572 | 35 | 101 |  | (264) |
| Corporate | (2958) | - | (310) | 1128 | 678 | 19 | (1443) |
| Total | $(5684) | $223 | $2163 | $1165 | $1096 | $19 | $(1017) |
| **Three Months Ended September 30, 2024** |  |  |  |  |  |  |  |
| Operations – PodcastOne | $(1669) | $394 | $861 | $- | $- | $11 | $(403) |
| Operations – Slacker | 3866 | 743 | 526 | 30 | 642 |  | 5807 |
| Operations – Other | (1687) | 214 | 198 | 404 | 30 |  | (841) |
| Corporate | (2827) | 2 | 706 | 207 | 254 | (20) | (1678) |
| Total | $(2317) | $1353 | $2291 | $641 | $926 | $(9) | $2885 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net**<br>**Income**<br>**(Loss)** | **Depreciation**<br>**and**<br>**Amortization** |<br>**Stock-Based**<br>**Compensation** | **Non-<br> Recurring Acquisition and**<br>**Realignment**<br>**Costs (1)** | **Other**<br>**(Income)**<br>**Expense (2)** | **(Benefit)**<br>**Provision**<br>**for Taxes** |<br>**Adjusted**<br>**EBITDA** |
| **Three Months Ended September 30, 2025** | | | | | | | |
| Operations – PodcastOne | $(2029) | $283 | $3395 | $17 | $- | $- | $1666 |
| Operations – Slacker | (499) | 100 | 63 | (8) | (243) |  | (587) |
| Operations – Other | (2026) | 129 | 753 | 35 | 130 |  | (979) |
| Corporate | (5015) | 1 | (592) | 1597 | 1040 | 40 | (2929) |
| Total | $(9569) | $513 | $3619 | $1641 | $927 | $40 | $(2829) |
| **Three Months Ended September 30, 2024** |  |  |  |  |  |  |  |
| Operations – PodcastOne | $(3036) | $1013 | $1254 | $38 | $- | $11 | $(720) |
| Operations – Slacker | 7218 | 1493 | 1032 | 176 | 1313 |  | 11232 |
| Operations – Other | (3077) | 431 | 517 | 600 | 60 |  | (1469) |
| Corporate | (4980) | 3 | 1188 | 229 | 276 | 29 | (3255) |
| Total | $(3875) | $2940 | $3991 | $1043 | $1649 | $40 | $5788 |

---

(1) Non-Recurring Acquisition and Realignment Costs include non-cash GAAP purchase accounting adjustments for certain deferred revenue and costs, legal, accounting and other professional fees directly attributable to acquisition activity, employee severance payments and third party professional fees directly attributable to acquisition or corporate realignment activities, and certain non-recurring expenses associated with legal settlements or reserves for legal settlements in the period that pertain to historical matters that existed at acquired companies prior to their purchase date

(2) Other (income) expense above primarily includes interest expense and change in fair value of derivative liabilities. These are included in the statement of operations in other income (expense) and are an add back to net loss above in the reconciliation of Adjusted EBITDA\* to loss.

\* See the definition of Adjusted EBITDA under "About Non-GAAP Financial Measures" within this release.

**LiveOne, Inc.**

**Reconciliation of Non-GAAP Measure to GAAP Measure**

**Contribution Margin\* Reconciliation (Unaudited)**

***(In thousands)***

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **September 30,** | **September 30,** |
|  | **2025** | **2024** |
| **Revenue:** | $18762 | $32594 |
| Less: |  |  |
| Cost of sales | (16166) | (24518) |
| Amortization of developed technology | (691) | (691) |
| &nbsp;&nbsp;&nbsp;**Gross Profit** | **1905** | **7385** |
| **Add back share-based compensation:** | 1107 |  |
| **Add back depreciation expense:** | 3 | 39 |
| **Add back amortization of developed technology:** | 691 | 691 |
| &nbsp;&nbsp;&nbsp;**Contribution Margin\*** | $**3706** | $**8115** |

---

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **September 30,** | **September 30,** |
|  | **2025** | **2024** |
| **Revenue:** | $37969 | $65672 |
| Less: |  |  |
| Cost of sales | (32991) | (49605) |
| Amortization of developed technology | (1466) | (1466) |
| &nbsp;&nbsp;&nbsp;**Gross Profit** | **3512** | **14601** |
| **Add back share-based compensation:** | 2126 |  |
| **Add back depreciation expense:** | 26 | 76 |
| **Add back amortization of developed technology:** | 1466 | 1466 |
| &nbsp;&nbsp;&nbsp;**Contribution Margin\*** | $**7730** | $**16143** |

---

\* See the definition of Contribution Margin under "About Non-GAAP Financial Measures" within this release.

**##END##**

## Exhibit 99.2

**Exhibit 99.2**

LiveOne (Nasdaq: LVO) to Announce Its Second Quarter Fiscal Year 2026 Financial Results and Host Investor Webcast on November 12, 2025, at 10:00 am Eastern Time (7:00 am Pacific Time)

LOS ANGELES, Nov. 06, 2025 -- LiveOne (Nasdaq: LVO), leading music, entertainment, and social platform delivering premium livestreams, digital media, and original content worldwide, plans to announce its operating and financial results for the second fiscal quarter ended September 30, 2025 ("Q2 Fiscal 2026") and host an investor webcast to discuss the results on Wednesday November 12, 2025.

To access the call, please use the following information:

---

| | |
|:---|:---|
| **Second Quarter Fiscal Year 2026 Earnings Conference Call** | **Second Quarter Fiscal Year 2026 Earnings Conference Call** |
| **Date**: | Wednesday, November 12, 2025 |
| **Time:** | 10:00 AM Eastern Time (7:00 AM Pacific Time) |
| **Webcast Link**: | <u>https://events.q4inc.com/attendee/890221572</u> |
| **Dial-in:** | (800) 715-9871 |
| **International Dial-in**: | +1 (646) 307-1963 |
| **Conference Code:** | 2075411 |

---

**About LiveOne**

**Forward-Looking Statements**

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne's reliance on its largest OEM customer for a substantial percentage of its revenue; LiveOne's ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne's ability to continue as a going concern; LiveOne's ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne's ability to implement its recently announced digital asset treasury strategy and/or purchase digital assets from time to time pursuant to such strategy, including for the maximum announced amount, and other risks related to such strategy; LiveOne's intent to repurchase shares of its and/or PodcastOne's common stock from time to time under LiveOne's announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne's ability to maintain compliance with certain financial and other debt covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; LiveOne's ability to repay its indebtedness when due; LiveOne's ability to satisfy the conditions for closing on its announced additional convertible debentures financing; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne's ability to pay any amounts due in connection with any such legal proceedings; significant legal, commercial, regulatory and technical uncertainty and risks related to Bitcoin, Ethereum and other digital assets; regulatory developments related to digital assets and digital asset markets; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 15, 2025, Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 14, 2025, and in LiveOne's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

**LiveOne Press Contact:**

press@liveone.com

Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and X at <u>@liveone</u>.