The file format uses open standards -- it is not MathWorks proprietary. It is an Open Packaging Conventions file (like the Simulink model .slx format), which is by definition a .ZIP file that you can open with any tool and whose contents you can see. The file "document.xml" within the .ZIP contains the MATLAB code and rich text, and also follows an open standard format, ECMA-376 (OOXML). The file "output.xml" contains a serialized version of the output. Images, if any, are stored as additional separate parts. See the “Live Script File Format” documentation topic for more information.
Please refer the following documentation link for more information:
