LVO — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-29

• On October 1, 2024, we announced an amended relationship with our largest OEM customer. Effective December 1, 2024, the OEM customer no longer subsidizes our products to some of its customers, however, we offer all OEM customer vehicles in North America the opportunity to convert to become direct su…

• Our digital Internet radio and music services are available to users online and through automotive and mobile original equipment manufacturers (“OEMs”) on a white label basis, which allow certain OEMs to customize the radio and music services with their own logos, branding and systems. Our users are…

• Our podcasts are available to users online alongside LiveOne’s digital Internet radio. Our users are able to listen to a variety of podcasts, from music, radio personalities, news, entertainment, comedy and sports. The podcasts are available on our platform, the LiveOne platforms and also on other l…

• The podcasting industry continues to benefit from both a broad audience, with attractive demographics and loyal listeners. According to eMarketer, the number of podcast listeners is anticipated to grow to 122 million in 2026 and nearly 150 million listeners are expected to make podcasts a part of th…

• In July 2025, we adopted our cryptocurrency treasury reserve strategy (the “Crypto Assets Treasury Strategy”) and subsequently selected Bitcoin as our intended initial treasury reserve asset on an ongoing basis, subject to market conditions, applicable lender consents and our anticipated cash needs,…

Text removed vs the prior filing · source: 10-K · 2025-07-15

• Our digital Internet radio and music services are available to users online and through automotive and mobile original equipment manufacturers (“OEMs”) on a white label basis, which allow certain OEMs to customize the radio and music services with their own logos, branding and systems. Our users are…

• Our podcasts are available to users online alongside our digital Internet radio. Our users are able to listen to a variety of podcasts, from music, radio personalities, news, entertainment, comedy and sports. PodcastOne has built a distribution network reaching over 1 billion listeners a month acros…

• The podcasting industry continues to benefit from both a broad audience, with attractive demographics and loyal listeners. According to Edison One and Triton Digital, an estimated 135 million people listened to a podcast each month in 2024 and is expected to reach 158 million in 2025. As podcast lis…

• In response to COVID-19 we quickly took action enabling our employees, where possible, to work from home, voluntarily expanding our paid sick leave benefits to include additional paid time off for COVID-related illness, testing, and implementing flexible work policies and reasonable accommodations f…

• The global effects associated with the COVID-19 pandemic have been unprecedented in their scope and depth. We have been and will continue to be following recommendations of the U.S. Center for Disease Control and other applicable agencies to maximize the safety and well-being of our employees. With …

Text added vs the prior filing · source: 10-K · 2026-06-29

• Risks Related to Our Cryptocurrency Assets Treasury Strategy

• Our Crypto Assets Treasury Strategy exposes us to various risk associated with cryptocurrencies.

• Our Crypto Assets Treasury Strategy has not been tested over an extended period of time or under different market conditions.

• We are subject to counterparty risks, including in particular risks relating to our custodian.

• Sales of a substantial number of shares of our common stock in the public market by certain of our stockholders could cause our stock price to fall. The broader digital assets industry is subject to counterparty risks, which could adversely impact the adoption rate, price, and use of Crypto.

Text removed vs the prior filing · source: 10-K · 2025-07-15

• We rely on our largest OEM customer for a substantial percentage of our revenue. The loss of our largest OEM customer or the significant reduction of business or growth of business from such customer could significantly adversely affect our business, financial condition and results of operations.

• Our business is dependent, and we believe that it will continue to depend, on our customer relationship with Tesla, which accounted for 45% of our consolidated revenue for the year ended March 31, 2025 and 51% of our consolidated revenue for the year ended March 31, 2024.

• Our existing agreement with Tesla governs our music services to certain of its car user base in North America, including our audio music streaming services. As of May 2025, Tesla has extended the term of our license agreement (the “license agreement”) until at least May 2026, and the license agreeme…

• In addition, membership revenue we generate from Tesla from grandfathered car users is indirectly subsidized by Tesla to its customers, which Tesla plans to carry indefinitely but is not obligated to do so, including its ability to reclassify or renegotiate with us the definition of a paid grandfath…

• Tesla has also integrated Spotify Premium to its cars’ in-dash touchscreen for its Model S, Model X and Model 3 vehicles. Tesla owners now have access to our music streaming services, as well as those of Spotify and TuneIn natively. There is no assurance that our music streaming services will be ava…

Text added vs the prior filing · source: 10-K · 2026-06-29

• On March 3, 2026, we, Slacker and Music and Entertainment Rights Licensing Independent Network Limited (“Merlin”) entered into a Shares Issuance Agreement (the “Agreement”) pursuant to which we issued to Merlin 500,000 shares (the “Shares”) of our common stock at a deemed issued price of $7.50 per s…

• On July 15, 2025, we entered into an underwriting agreement with Lucid Capital Markets, LLC (the “Underwriter”) pursuant to which we agreed to issue and sell to the Underwriter 1,360,833 shares of our common stock at an offering price of $7.50 per share and which includes the grant to the Underwrite…

• On July 15, 2025, we entered into letter agreements (collectively, the “Agreements”) with (i) Harvest Small Cap Partners Master, Ltd. (“HSCPM”), (ii) Harvest Small Cap Partners, L.P. (“HSCP” and together with HSCPM, the “Harvest Funds” or the “Selling Stockholders”), and (iii) Trinad Capital Master …

• In May 2025, we and PodcastOne, entered into a Securities Purchase Agreement with certain institutional investors pursuant to which we sold to them the Debentures in an aggregate principal amount of $16,775,000 for an aggregate cash purchase price of $15,250,000. The Debentures mature on May 19, 202…

• Advertising revenue increased by $9.3 million, or 18%, to $61.6 million during the year ended March 31, 2026, as compared to $52.3 million the year ended March 31, 2025, which is primarily due to growth in advertising at PodcastOne year-over-year as it experienced an increase in the number of impres…

Text removed vs the prior filing · source: 10-K · 2025-07-15

• In January 2025, our total paid and monthly active ad-supported users exceeded 860k. Our Direct-billed Premium subscribers have increased by 78% and overall direct-billed subscribers have increased by 130% since October 2024, when we announced a new conversion program with Tesla, our largest OEM cus…

• On October 1, 2024, we announced an amended relationship with our largest OEM customer. Effective December 1, 2024, the OEM customer no longer subsidizes our products to some of its customers, however, we offer all OEM customer vehicles in North America the opportunity to convert to become direct su…

• On January 15, 2025, PodcastOne entered into a three-year Enterprise Service and Advertising Agreement (the “Agreement”) with ART19 LLC (“ART19”), a subsidiary of Amazon.com, Inc. to move the existing network of PodcastOne programming to the ART19 hosting platform. The Agreement is expected to drive…

• On January 28, 2025, we entered into the Business Loan Agreement with the Senior Lender to update certain terms of the ABL Credit Facility, including to reduce the principal amount outstanding under the Promissory Note to $3,750,000, reflecting our repayment of $3,250,000 of the principal amount of …

• Advertising revenue increased by $8.6 million, or 20%, to $52.3 million during the year ended March 31, 2025, as compared to $43.7 million the year ended March 31, 2024, which is primarily due to growth in advertising at PodcastOne year-over-year.