LiveOne — H1 Fiscal 2027 Earnings Summary

Financial Performance:

• Preliminary H1 Fiscal 2027 revenue was $37.3 million.
• Record Audio Adjusted EBITDA for H1 Fiscal 2027 was $7.8 million, representing a 619% year-over-year increase from $1.1 million.
• Preliminary H1 Fiscal 2027 consolidated Adjusted EBITDA was $3.6 million, an improvement of $6.4 million from the prior year period.
• Preliminary Q2 Fiscal 2027 Audio Adjusted EBITDA was $1.5 million, up 113% from $0.7 million a year earlier.
• Preliminary Q2 Fiscal 2027 consolidated Adjusted EBITDA loss was $0.7 million, a 30% improvement from a loss of $1.0 million a year earlier.
• LiveOne extinguished $25 million in debt and other liabilities since February 2026.
• Senior debt balance was reduced to $9 million.
• PodcastOne reported record first-half revenue of $31.5 million and record Adjusted EBITDA of $3.0 million.
• Financial results are preliminary, unaudited, and subject to potential material adjustments during the final closing process.

Guidance and Future Outlook:

• Fiscal 2027 revenue guidance revised to $70 million–$75 million.
• Fiscal 2027 Adjusted EBITDA guidance revised to $10 million or more.
• Revised guidance reflects updated launch timelines from B2B partners.
• First-time Fiscal 2028 revenue guidance issued at $100 million or more.
• Fiscal 2028 guidance anticipates launching the largest partnership in the company's history.

Business Segments and Product Lines:

• PodcastOne contributed significantly to H1 results with record revenue and Adjusted EBITDA figures.
• LiveOne subsidiaries include Slacker, PodcastOne, PPVOne, Custom Personalization Solutions, LiveXLive, and DayOne Music Publishing.
• Platform availability includes iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and STIRR's OTT applications.

Market and Competitive Landscape:

• The company relies on its largest OEM customer for a substantial percentage of its revenue.
• LiveOne positions itself as an award-winning, creator-first music, entertainment, and technology platform.

Risks and Challenges:

• Preliminary financial results and guidance are forward-looking and subject to risks, uncertainties, and possible material adjustments.
• Risks include reliance on the largest OEM customer, ability to consummate proposed financing or acquisitions, and ability to continue as a going concern.
• Potential non-compliance with financial covenants under senior secured debentures and effects on subsidiaries.
• Uncertainty regarding legal proceedings and the ability to repay indebtedness when due.
• Risks associated with the timing and conditions of closing on announced additional convertible debentures financing.

Management Commentary and Tone:

• Management highlighted record Audio Adjusted EBITDA and significant year-over-year improvements in consolidated Adjusted EBITDA.
• Guidance revisions were made to align with updated partner launch timelines.
• The company expressed anticipation regarding the launch of its largest historical partnership.
• Management noted that preliminary results are based on currently available information and are not guarantees of future performance.

Other Key Points:

• The press release is dated November 10, 2026, covering the six months ended September 30, 2026.
• Independent registered accounting firm has not audited or reviewed the preliminary financial results.
• LiveOne intends to repurchase shares of its and/or PodcastOne's common stock from time to time under a stock repurchase program.
• PodcastOne and its subsidiaries have entered into a Subsidiary Guarantee and related Security Agreement with holders of LiveOne's senior secured debentures.
• Adjusted EBITDA is a non-GAAP measure that excludes non-cash purchase accounting adjustments, acquisition-related fees, severance payments, legal settlements, and stock-based compensation.