LiveOne, Inc. (LVO) has achieved a new milestone by exceeding 450,000 users in partnership with the electric vehicle company, Tesla, Inc. (TSLA). Of these users, more than 100,000 are accessing the service for free, and on average, they spend over 50 minutes daily listening while in their Tesla vehicles.
LiveOne expressed enthusiasm about the successful expansion of its partnership with Tesla announced in October 2024. In this updated agreement, Tesla has permanently replaced its streaming button with LiveOne’s service, significantly changing the user experience for its car owners.
Current Trends: LiveOne, Inc. Price and Market Consensus
LiveOne, Inc. price-consensus-chart | LiveOne, Inc. Quote
Tesla’s collaboration highlights LiveOne’s commitment to its business-to-business (B2B) initiatives. The company anticipates announcing several more B2B partnerships in the future, targeting companies valued at “$1 billion to trillion dollars.”
Aiming Higher: LiveOne’s Focus on B2B Partnerships
LiveOne is directing its efforts toward enhancing B2B partnerships, with new agreements already in place. A noteworthy success is the company’s $24 million contract with a leading streaming service, expected to generate around $2 million in monthly revenue. This deal not only boosts immediate income but also strengthens LiveOne’s standing within the industry, paving the way for more opportunities.
In addition, LiveOne reported that TextNow has surpassed 100 million users, a significant achievement for the company. LiveOne has also formed partnerships with major firms such as eBay, Facebook, and TikTok. Currently, the company is engaged in discussions with numerous Fortune 500 and Fortune 250 companies, including eight major automotive manufacturers. These developments reflect LiveOne’s strategic shift towards B2B initiatives and fortifying its market position. Additionally, the company’s B2B team has recently grown from 10 to 11 employees, enhancing its capacity to manage new partnerships effectively.
For the second quarter of fiscal 2025, LiveOne reported revenues of $32.6 million, indicating a 14% increase compared to the previous year. This growth can be attributed to success within their Audio Division and a strong pipeline of partnerships.
Market Performance: LVO’s Zacks Rank & Stock Overview
LiveOne holds a Zacks Rank of #3 (Hold). In the last three months, the company’s shares have surged by 101.4%, outpacing the industry’s growth of 10.6%.
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Other Stocks of Interest
Investors might also consider other well-ranked stocks in the technology sector, such as Intrusion Inc. (INTZ) and RADCOM Ltd. (RDCM). Both INTZ and RDCM currently hold a Zacks Rank of #2 (Buy). You can view the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
INTZ has consistently beaten the Zacks Consensus Estimate for earnings over the last four quarters, with an average surprise of 43.06%. In its most recent quarter, Intrusion delivered an earnings surprise of 16.67%, and its shares have skyrocketed by 426% over six months.
The Zacks Consensus Estimate for RADCOM’s 2024 earnings per share (EPS) remains steady at 80 cents for the last 30 days. RDCM has also surpassed earnings expectations in its last four quarters, showing an average surprise of 25.36% and a share price increase of 47.4% over the past year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
