LiveXLive ended the quarter with $10.2 million loss at 15 cents per share and raised its guidance for the year from $63.5 to $69.5 million. The company’s stock closed at $1.88 per share the day after the report was released, down 8.3% from the previous day.ĭespite the earnings miss and modest progress with its ticketing initiatives, a bright spot this quarter was LiveXLive’s new subsidiary PodcastOne, providing significant revenue growth for the quarter for a combined revenue of $14.6 million.

Tesla is LiveXLive’s largest client, accounting for two-thirds of the West Hollywood company’s consolidated revenue, and the dispute has already impacted $2.1 million in revenue chairman and chief executive Rob Ellin explained during the Q2 2021 call with analysts, staff and board members.Īn accompanying earnings report released during the call revealed that LiveXLive missed analysts’ consensus on earnings and revenue for the second quarter by double digit percentages, and noted that executives at the company only had access to half of the cash on its balance sheet because of restrictions by its senior creditors. Streaming media company LiveXLive has been in a “contractual dispute” with Tesla dating back to June, company officials announced during Monday’s mid-year earnings call.

Livexlive stock price