LiveOne's partnership with Tesla grows to 450K users, focusing on B2B deals

From Nasdaq: 2024-12-31 09:12:00

LiveOne, Inc. has surpassed 450,000 Tesla users, with over 100,000 being free ad-supported users who spend an average of 50 minutes daily listening in-vehicle. The upgraded partnership with Tesla replacing the streaming button with LiveOne’s service marks a significant shift in user experience for Tesla owners.

LiveOne’s strategic focus on B2B partnerships is yielding positive results, with a $24 million contract secured with a leading streaming network. The company has also partnered with TextNow, eBay, Facebook, TikTok, and is negotiating with Fortune 500 companies and prominent automotive manufacturers. Second-quarter revenues grew by 14% year over year to $32.6 million.

LiveOne holds a Zacks Rank #3 (Hold) and has seen its stock surge by 101.4% in the past three months. Other technology stocks to consider are Intrusion Inc. and RADCOM Ltd., both with a Zacks Rank #2 (Buy). Intrusion has shown consistent earnings beats, while RADCOM’s stock has surged by 47.4% in the past year.

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Read more at Nasdaq: LVO’s Partnership With Tesla Hits 450K Users, Focus on More B2B Deals