LiveXLive Media (LIVX) Misses Q1 EPS by 2c, Revenues Miss; Raises FY21 Revenue Guidance Above Consensus

LiveXLive Media (NASDAQ: LIVX) reported Q1 EPS of ($0.13), $0.02 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $10.51 million versus the consensus estimate of $11.32 million.

LiveXLive CEO and Chairman, Robert Ellin, commented, "LiveXLive was uniquely positioned to benefit from the abrupt stop of live music and entertainment due to COVID-19. We have the first talent-centric platform focused on superfans and building long term franchises in audio music, podcasting, OTT linear channels, pay-per-view, and livestreaming. Our model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales and ticketing. We are excited to raise our revenue guidance for our 2021 fiscal year based on momentum in our core businesses."

"Our Q1 results were the strongest to date and reflect the power of our business model, posting record events, viewership, revenue and operating results in Q1 fiscal 2021," said Michael Zemetra, CFO of LiveXLive. "With our recent financing, improvements in our balance sheet and the closing of PodcastOne, we believe we are in a position of strength to accelerate our business growth and aggressively move towards profitability."

GUIDANCE:

LiveXLive Media sees FY2021 revenue of $62.5-68.5 million, versus the consensus of $61.01 million.

LiveXLive is raising revenue guidance and updating its full-year fiscal 2021 guidance as follows:

• Revenue of $62.5 - $68.5 million, an increase of $1.5 million from prior 2021 guidance
• Annualized Contribution Margin* of 30% - 35% of revenue, an improvement of over 100% YOY
• Adjusted Operating Loss* of ($2.5) - ($5.0) million, representing a 70% improvement YOY at the midpoint
• Capital expenditures, which principally include internally capitalized labor costs supporting the growth of our music platform, in the range of $3.0 - $5.0 million
• Expectation to livestream over 100 music festivals and events, an increase of over 140% YOY

For earnings history and earnings-related data on LiveXLive Media (LIVX) click here.

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