LIVEONE, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) – Marketscreener.com

Key Corporate Developments for the Quarter Ended September 30, 2022
Opportunities, Challenges and Risks
Consolidated Results of Operations
Three Months Ended September 30, 2022, as compared to Three Months Ended September 30, 2021
The following tables set forth our results of operations for the periods presented. The period-to-period comparison of financial results is not necessarily indicative of future results (in thousands):
(0.04 ) $ (0.19 )
The following table sets forth the stock-based compensation expense included in the above line items (in thousands):
-80 % Total stock-based compensation expense $ 1,396 $ 4,845 -71 %
The following table sets forth our results of operations, as a percentage of revenue, for the periods presented:
Revenue was as follows (in thousands):
Advertising revenue decreased $0.1 million, or 1%, to $8.7 million for the three months ended September 30, 2022, as compared to $8.8 million for the three months ended September 30, 2021. There was no material change between the comparative periods as no significant changes to the business were noted.
Ticket/Event revenue decreased $0.1 million, or 88%, to $13,000 for the three months ended September 30, 2022, as compared to $0.1 million for the three months ended September 30, 2021, driven by a reduction in the number of PPV events held compared to the prior year.
Cost of sales was as follows (in thousands):
Other operating expenses were as follows (in thousands):
Sales and Marketing Expenses
Impairment of Intangible Assets
Amortization of Intangible Assets
Amortization of intangible assets decreased $0.2 million, or 11%, to $1.3 million for the three months ended September 30, 2022, as compared to $1.5 million for the three months ended September 30, 2021, as there were no significant changes to the intangible asset balances year over year.
Total other expense was as follows (in thousands):
Six Months Ended September 30, 2022, as compared to Six Months Ended September 30, 2021
The following tables set forth our results of operations for the periods presented. The period-to-period comparison of financial results is not necessarily indicative of future results (in thousands):
(0.02 ) $ (0.30 )
The following table provides the stock-based compensation expense included in the above line items (in thousands):
-81 % Total stock-based compensation expense $ 2,184 $ 9,931 -78 %
The following table provides our results of operations, as a percentage of revenue, for the periods presented:
Revenue was as follows (in thousands):
Membership Services Revenue
Cost of sales was as follows (in thousands):
Merchandising cost of sales decreased to $2.5 million, or 41%, from $4.2 for the six months ended September 30, 2022, as compared to the six months ended September 30, 2021 which is line with the revenue reduction noted above.
Other operating expenses were as follows (in thousands):
Sales and Marketing Expenses
Impairment of Intangible Assets
Amortization of Intangible Assets
Total other expense, net was as follows (in thousands):
Contribution Margin is a non-GAAP financial measure defined as Revenue less Cost of Sales.
Adjusted EBITDA Margin is a non-GAAP financial measure that we define as the ratio of Adjusted EBITDA to Revenue.
The following table sets forth the reconciliation of Adjusted EBITDA to net loss, the most comparable GAAP financial measure for the three and six months ended September 30, 2022 and 2021 (in thousands):
The following table sets forth the reconciliation of Contribution Margin to Revenue, the most comparable GAAP financial measure for the three and six months ended September 30, 2022 and 2021 (in thousands):
Three Months Ended September 30, 2022, as compared to Three Months Ended September 30, 2021
Our Audio Group Operations operating results were, and discussions of significant variances are, as follows (in thousands):
Our Media Group Operations operating results were, and discussions of significant variances are, as follows (in thousands):
Our Corporate expense results were, and discussions of significant variances are, as follows (in thousands):
Six Months Ended September 30, 2022 as compared to Six Months Ended September 30, 2021
Our Audio Group Operations operating results were, and discussions of significant variances are, as follows (in thousands):
Our Media Group Operations operating results were, and discussions of significant variances are, as follows (in thousands):
Our Corporate expense results were, and discussions of significant variances are, as follows (in thousands):
Liquidity and Capital Resources
The following table provides information regarding our cash flows for the six months ended September 30, 2022 and 2021 (in thousands):
6,991
Net change in cash, cash equivalents and restricted cash $ (5,763 ) $ (2,032 )
Cash Flows Used In Operating Activities
For the six months ended September 30, 2022
For the six months ended September 30, 2021
Cash Flows Used In Investing Activities
For the six months ended September 30, 2022
For the six months ended September 30, 2021
Cash Flows Provided by Financing Activities
For the six months ended September 30, 2022
For the six months ended September 30, 2021
As of September 30, 2022, we were in full compliance with all covenants.
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