LiveOne, Inc.

Ladies and gentlemen, thank you for your patience. Today's conference call will begin shortly. If you would like to register a question at any time, please press star one on your telephone keypad. Thank you. Hello and welcome to the live one incorporated Q1 fiscal 2025 financial results and business update webcast. My name is Elliot and I'll be coordinating your call today. If you would like to register a question during today's events, please press star followed by one on your telephone keypad. I would now like to hand over to Aaron Sullivan, CFO. Please go ahead.

Thank you. Good morning and welcome to Live One's business update and financial results conference call for the company's first quarter end of June 30, 2024. Presenting on today's call with me is Rob Ellen, CEO and chairman of Live One. I would like to remind you that some of the statements made on today's call are forward-looking and are based on current expectations, forecasts, and assumptions that involve various risks and uncertainties. These statements include but are not limited to statements regarding the future performance of the company, including expected future financial results and expected future growth in the business. Actual results may differ materially from those discussed on this call for a variety of reasons. Please refer to the company's filings with the SEC for information about factors which could cause the company's actual results to differ materially in these forward-looking statements, including those described in its annual report on Form 10-K for the year ended March 31, 2024 and subsequent SEC filings. You'll find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed today in the company's earnings release, which is posted on its Investor Relations website. The company encourages you to periodically visit the Investor Relations website for important content. The following discussion, including responses to your questions, contains time-sensitive information and reflects management's view as of the date of this call, August 13th, 2024, and has accepted required by law, the company does not undertake any obligation to update or revise this information after the date of the call. I'd like to highlight to investors that the call is being recorded. The company is making it available to investors and media via webcast, and the replay will be available on its website in the investor relations section shortly following the conclusion of the call. Additionally, it is the property of the company, and any redistribution, transmission, or rebroadcast of this call or the webcast in any form that the company has expressed written consent is strictly prohibited. Now, I would like to turn the call over to Live One CEO, Rob Allen.

Thank you, Aaron. And good morning, everyone. And thank you for joining us today. I'm thrilled to share the outstanding progress and success that Live One has achieved, driven by our unwavering commitment to a creator-first model. Our audio division, comprising of Slacker Radio and Podcast One, we reached incredible milestones in Q1 of fiscal 2025. we achieved a record-breaking $31.9 million in revenues and $5.1 million in adjusted EBITDA, demonstrating the strength of our business strategy and execution. Looking ahead, we project a phenomenal year, 2025 for Audio Division, which anticipated revenue of $130 to $140 million and adjusted EBITDA ranging from $20 to $25 million. Our solid foundation and exciting opportunity positioning us for continued growth. Under Brad Conkle's leadership, Slacker Radio has experienced remarkable growth, starting with our great partnership with Tesla, and continue to grow that partnership. We added Bill Wichers almost seven months ago, formally headed up a division of Microsoft, doing over hundreds of millions of dollars of B2B deals. He has crafted a strategic roadmap for B2B partnerships, securing and signing four major additional deals with 63 potential partnerships in the pipeline. We're anticipating closing multiple partnerships with market cap companies ranging from a billion to $1 trillion before this year ends. Based on a huge success, signing five major additional partnerships, including the $24 million partnership with one of the largest streaming networks, a Fortune 250 company, which is adding about $2 million of revenues a month. We've expanded our B2B team from one to six professionals and now aggressively moving to hire ahead of each vertical. We fully expect to have a team of over 10 people leading the charge in our B2B Our membership growth continues to grow steadily, increasing from 3.7 million to 3.9 million. We maintain cost-efficient marketing, spending less than a million dollars this year with very little breakage, the lowest by far in the industry. Podcast One, led by Kit Gray, is seeing tremendous success, signing 37 new podcasts in the last 12 months, bringing our total to 187 podcasts. We've sold a second major show to a streaming partner that is moving our podcast from podcasting to television and film. There's a unique amount of money that will be coming in from those television shows, shows over the next couple of years. Our publishing business led by Josh Hallberg grew 300% in our two Grammys. We partnered, partnered with cartoon studios to produce and publish and distribute original programs for Winnie the Pooh, the mega brand funded by funded with over $30 million. Our celebrity brands division, led by Sarah Dee, is set to introduce 10 to 12 celebrity brands over the next 12 months, including Birthday Snacks, Chardonnay with Jeremiah, and Smiley Cough with Kyle. We're expanding our stock buyback again to $12 million. We've purchased over 4.4 million shares of stock and extinguished those, leaving us with additional $6.3 million dedicated to the program. This move underscores our confidence in the company's future and commitment to enhancing shareholder value. In conclusion, we believe our stock remains extremely undervalued given our impressive growth and unlimited future prospects. We're confident in our direction and excited about what lies ahead. Thank you everyone for your support and belief in LiveOne. I'm now going to hand it over to Aaron Sullivan to review the Q1 results.