diff --git a/.changeset/audio-mixer-read-timeout.md b/.changeset/audio-mixer-read-timeout.md
new file mode 100644
index 00000000..61a9cc31
--- /dev/null
+++ b/.changeset/audio-mixer-read-timeout.md
@@ -0,0 +1,5 @@
+---
+'@livekit/rtc-node': patch
+---
+
+Fix `AudioMixer` dropping audio from a stream whose read times out. The mixer now keeps the pending read and awaits it again, instead of issuing a new `next()` and discarding the frame the first read later resolves with.
diff --git a/packages/livekit-rtc/src/audio_mixer.test.ts b/packages/livekit-rtc/src/audio_mixer.test.ts
index d4dfbfaa..f852a22e 100644
--- a/packages/livekit-rtc/src/audio_mixer.test.ts
+++ b/packages/livekit-rtc/src/audio_mixer.test.ts
@@ -266,4 +266,49 @@ describe('AudioMixer', () => {
       console.warn = originalWarn;
     }
   });
+
+  it('does not drop a frame that arrives after a read timeout', async () => {
+    const sampleRate = 48000;
+    const numChannels = 1;
+    const samplesPerChannel = 480;
+    const mixer = new AudioMixer(sampleRate, numChannels, {
+      blocksize: samplesPerChannel,
+      streamTimeoutMs: 20,
+    });
+
+    const makeFrame = (value: number) =>
+      new AudioFrame(
+        new Int16Array(numChannels * samplesPerChannel).fill(value),
+        sampleRate,
+        numChannels,
+        samplesPerChannel,
+      );
+
+    // The first frame arrives well after the mixer's read timeout.
+    async function* lateStream(): AsyncGenerator<AudioFrame> {
+      await new Promise((resolve) => setTimeout(resolve, 100));
+      yield makeFrame(111);
+      yield makeFrame(222);
+    }
+
+    const originalWarn = console.warn;
+    console.warn = () => {};
+
+    try {
+      mixer.addStream(lateStream());
+
+      const values: number[] = [];
+      for await (const frame of mixer) {
+        const value = frame.data[0]!;
+        if (value !== 0) {
+          values.push(value);
+        }
+      }
+
+      expect(values).toEqual([111, 222]);
+    } finally {
+      console.warn = originalWarn;
+      await mixer.aclose();
+    }
+  });
 });
diff --git a/packages/livekit-rtc/src/audio_mixer.ts b/packages/livekit-rtc/src/audio_mixer.ts
index e2aaef84..270849cb 100644
--- a/packages/livekit-rtc/src/audio_mixer.ts
+++ b/packages/livekit-rtc/src/audio_mixer.ts
@@ -70,6 +70,9 @@ export class AudioMixer {
   private streams: Set<AudioStream>;
   private buffers: Map<AudioStream, Int16Array>;
   private streamIterators: Map<AudioStream, { next(): Promise<IteratorResult<AudioFrame>> }>;
+  // A read that timed out is still in flight. It is kept here and awaited again on the next
+  // pass, so the frame it eventually resolves with is not lost.
+  private pendingReads: Map<AudioStream, Promise<IteratorResult<AudioFrame>>>;
   private sampleRate: number;
   private numChannels: number;
   private chunkSize: number;
@@ -91,6 +94,7 @@ export class AudioMixer {
     this.streams = new Set();
     this.buffers = new Map();
     this.streamIterators = new Map();
+    this.pendingReads = new Map();
     this.sampleRate = sampleRate;
     this.numChannels = numChannels;
     this.chunkSize =
@@ -141,6 +145,7 @@ export class AudioMixer {
     this.streams.delete(stream);
     this.buffers.delete(stream);
     this.streamIterators.delete(stream);
+    this.pendingReads.delete(stream);
   }
 
   /**
@@ -311,13 +316,24 @@ export class AudioMixer {
     // Accumulate data until we have at least chunkSize samples
     while (buf.length < this.chunkSize * this.numChannels && !exhausted && !this.closed) {
       try {
-        const result = await this.timeoutRace(iterator.next(), this.streamTimeoutMs);
+        let read = this.pendingReads.get(stream);
+        if (!read) {
+          read = iterator.next();
+          this.pendingReads.set(stream, read);
+        }
+        const result = await this.timeoutRace(read, this.streamTimeoutMs);
 
         if (result === 'timeout') {
+          // Keep the pending read: issuing another next() would leave this one to resolve
+          // unobserved and its frame would be dropped.
           console.warn(`AudioMixer: stream timeout after ${this.streamTimeoutMs}ms`);
           break;
         }
 
+        if (this.pendingReads.get(stream) === read) {
+          this.pendingReads.delete(stream);
+        }
+
         if (result.done) {
           exhausted = true;
           break;
@@ -339,6 +355,7 @@ export class AudioMixer {
           buf = combined;
         }
       } catch (error) {
+        this.pendingReads.delete(stream);
         console.error(`AudioMixer: Error reading from stream:`, error);
         exhausted = true;
         break;