Magna International (MGA) shares jumped in pre-market trading on Friday, despite the company reporting a miss on both earnings and revenue for the third quarter. While sales and earnings were impacted by lower global light vehicle production, the company’s CEO expressed confidence in navigating industry headwinds. Notably, Magna has resumed share repurchases and revised its full-year outlook, suggesting optimism despite the challenging market environment.
Enova International (NYSE: ENVA) announced financial results for the first quarter of fiscal 2024, marking 20 years since the company’s founding and 10 years as a public company. The company reported another quarter of consistent and profitable growth, with strong originations, receivables, revenue, and solid credit and operating efficiency. Enova emphasized its focus on delivering profitable growth and providing customers with fast, trustworthy credit. The company also executed a significant share repurchase program, reflecting its commitment to creating long-term shareholder value. Enova highlighted its well-positioned balance sheet and the potential for continued financial success in the future.
**LiveOne (LVO)** had a strong year with subscription and sponsorship revenue growth. The company anticipates further revenue growth in FY25, with a focus on its Audio Division and share buybacks. Here’s a summary of the key highlights:
– FY24 Revenue: $118.5M, Adjusted EBITDA: $14.4M
– Q4 FY24 Revenue: $30.3M, Adjusted EBITDA: $4.3M
– FY25 Revenue Guidance: $140M-$155M, Adjusted EBITDA: $16M-$20M
– Audio Division FY25 Guidance: Revenue: $130M-$140M, Adjusted EBITDA: $20M-$25M, Positive Cash Flow: $17M+
– Shared Repurchased: ~4M, $5M Remaining for Continued Repurchases
– Current Cash Position: $10.6M
LiveOne believes its stock is undervalued and will continue to focus on delivering results for shareholders.
