Slacker Radio Inks 5-Year Deal to Enter 3M-Bed Senior Living Market
LVO is trading near its 52-week low of $2.85 (1.3% above the low) on elevated volume (3.1× avg).
Summary
LiveOne's Slacker Radio subsidiary signed a five-year partnership with Groove Technology Solutions to bring a custom music app to Groove's TotalVue platform, targeting the 3 million-bed U.S. senior living market. This is a new B2B distribution channel for LiveOne, which has been struggling with a going concern warning and a $13.2M working capital deficiency. The deal could provide recurring revenue from thousands of properties, but no financial terms were disclosed. The partnership follows LiveOne's recent cost cuts and share buyback expansion, suggesting management is pivoting toward higher-margin enterprise deals. Watch for any revenue contribution from this deal in upcoming quarters, though no specific timeline was given.
At the time of this announcement, LVO was trading at $2.89 on NASDAQ in the Technology sector, with a market capitalization of approximately $39.6M. The 52-week trading range was $2.85 to $7.19. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.