Liveone increases fiscal year 2023 adjusted ebitda* guidance to between $5 million - $10 million as it increases anticipated annual cost and expense reductions from $14 million to more than $20 million

- maintains guidance to achieve positive adjusted ebitda* in current q1 fiscal 2023 and revenue guidance for fy 2023 of between $125 - $140 million - has repurchased 500k shares of under its announced 2 million stock repurchase program - currently has cash and cash equivalents totaling approximately $14 million los angeles, may 19, 2022 /prnewswire/ -- liveone (nasdaq: lvo), a creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today anticipated further cost and expense reductions and certain updated financial guidance. as part of liveone's plan to focus on generating cash from operations on a consolidated basis, liveone is implementing additional cost and expense reductions from both operations and corporate overhead which is anticipated to increase the previously implemented $14 million of annual cost savings to a total of over $20 million in its fiscal year ending march 31, 2012 ("fiscal 2023").
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