LiveOne, Inc (NASDAQ:LVO) reported fourth-quarter FY23 revenue growth of 9% year-on-year to $25.5 million, beating the consensus of $25 million.

The Audio Division revenue grew to $22.9 million, versus $19.8 million a year ago.

Paid members as of June 26 were 2.2 million, up by 39% Y/Y. Total members, including free ad-supported memberships, were approximately 3.1 million.

The operating loss improved to $(0.9) million against ($8.3) million a year ago.

EPS loss of $(0.06) missed the consensus loss of $(0.03).

LiveOne held $8.6 million in cash and equivalents.

LiveOne's PodcastOne expects to deliver a record-breaking Q1 FY24 of over $10.5 million in revenue and FY24 revenue of $40 million - $45 million.

Price Action: LVO shares traded higher by 5.52% at $1.72 premarket on the last check Tuesday.

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