Morgan, LiveXLive commenced a process to explore strategic alternatives in order to enhance shareholder value. Based on our current estimates and expectations, we are pleased to provide full-year fiscal 2022 revenue guidance of between $90 - $100 million, with meaningful upside in the event live concerts and festivals return." Ellin continued, "We are building long term, sustainable, valuable franchises in audio music, podcasting, OTT, pay-per-view and live streaming. We continue to expand our flywheel business model as we completed in Q3 the acquisition of an e-commerce merchandising business, a new vertical that presents significant opportunity to grow revenue by leveraging our audience, platform and entertainment industry relationships to add specialized consumer product revenue." LiveXLive's CEO and Chairman, Robert Ellin, commented, "Delivering our 11th consecutive quarter of record revenues, our team has built one of the most powerful social live music networks in the world to Attend, Listen, Watch, Engage, and Transact. On a non-GAAP basis, Adjusted Operating Loss ("AOL")* narrowed to ($1.9) million from ($2.1) million in Q3 2020.
GAAP basis, LiveXLive recorded a loss from operations of ($7.6) million and a net loss of ($8.7) million. The increases were driven by growth in advertising revenue and strong sponsorship revenue. In Q3 fiscal 2021, LiveXLive posted record revenue of $19.1 million, as well as record contribution margin* of $4.6 million. (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions ("CPS"), announced today results for its third fiscal quarter ended Decemand record revenue and contribution margin*.
11, 2021 /PRNewswire/ - LiveXLive Media, Inc.
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