LiveOne (NASDAQ: LVO) issued updated financial guidance for fiscal year 2026, projecting revenue between $82 million and $90 million and adjusted EBITDA of $5 million to $10 million, excluding corporate overhead.

The music and entertainment platform company completed more than $15 million in payables conversions to common stock at $7.50 per share, which the company stated strengthened its balance sheet. LiveOne continues operating a share repurchase program with over $5 million remaining.

The company expects all key subsidiaries to achieve positive adjusted EBITDA for fiscal 2026, excluding corporate overhead. LiveOne signed multi-year extensions with music partners ASCAP, BMI, Merlin and Warner Music.

The restructuring of LiveOne's Custom Personalization Solutions subsidiary is expected to generate $3.5 million in revenue and more than $600,000 in cash flow for fiscal 2026.

"I'm very pleased with our recent efforts to secure agreements with our key music partners and strengthen our balance sheet as we continue to position LiveOne for sustained profitability and growth," said Robert Ellin, Chairman and CEO.

LiveOne operates subsidiaries including Slacker, PodcastOne, PPVOne, Custom Personalization Solutions, LiveXLive and DayOne Music Publishing. The company's fiscal year ends March 31.