LiveOne Surpasses 450,000 Tesla Users, Expands B2B Partnerships
LiveOne, Inc. (LVO) announced a noteworthy development, surpassing 450,000 users within its collaboration with Tesla, Inc. (TSLA). Out of these users, over 100,000 are free ad-supported users who, on average, listen for more than 50 minutes daily while in their vehicles.
Expressing enthusiasm for their partnership, LiveOne highlighted the recent upgrade made in October 2024, where Tesla replaced its streaming button with LiveOne’s service, enhancing the experience for Tesla owners.
Growing Presence in the B2B Sector
Tesla’s collaboration mirrors LiveOne’s commitment to strengthening its B2B initiatives. The company shared its ambition to announce additional B2B partnerships, targeting “$1 billion to trillion-dollar companies.”
LiveOne Emphasizes B2B Strategy
LiveOne is purposefully expanding its B2B agreements, having secured significant new contracts, including a $24 million deal with a major streaming network. This contract is projected to generate approximately $2 million in monthly revenue, boosting both immediate revenues and LiveOne’s industry reputation.
The company also reported that TextNow has surpassed 100 million users, reflecting a notable milestone. Furthermore, partnerships with major companies such as eBay, Facebook, and TikTok are in progress. LiveOne is currently in negotiations with several Fortune 500 and Fortune 250 companies, including eight notable automotive manufacturers, highlighting its strategic goal to expand B2B initiatives further.
With a growing B2B team that has increased from 10 to 11 employees, LiveOne is well-positioned to manage these new business opportunities effectively.
For the second quarter of fiscal year 2025, LiveOne reported revenues of $32.6 million, reflecting a 14% year-over-year increase driven chiefly by successes in the Audio Division, robust partnerships, and a strong pipeline of business.
LiveOne’s Stock Performance and Zacks Rank
Currently, LiveOne holds a Zacks Rank #3 (Hold). Over the past three months, the company’s shares have surged by 101.4%, significantly outpacing the industry’s growth of 10.6%.
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Stocks Worth Considering
Other well-ranked stocks in the broader technology sector include Intrusion Inc. (INTZ) and RADCOM Ltd. (RDCM), both currently carrying a Zacks Rank #2 (Buy). You can view the complete list of today’s Zacks #1 (Strong Buy) stocks.
Intrusion has consistently beaten the Zacks Consensus Estimate for earnings over the trailing four quarters, averaging a surprise of 43.06%. Notably, its shares have surged 426% over the last six months.
For RADCOM, the Zacks Consensus Estimate for 2024 EPS stands at 80 cents, remaining unchanged in the past 30 days. RADCOM, too, has exceeded earnings estimates in each of the last four quarters, boasting an average surprise of 25.36%. Its shares increased by 47.4% over the past year.
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