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Contact:Live Ventures IncorporatedGreg Powell, Director of Investor Relations725.500.5597gpowell@liveventures.com Source: Live Ventures Incorporated CONSOLIDATED BALANCE SHEETS(UNAUDITED)(dollars in thousands, except per share amounts) March 31, 2025 September 30, 2024 (Unaudited) Assets Cash$6,931 $4,601 Trade receivables, net of allowance for doubtful accounts of $2.1 million at March 31, 2025 and $1.5 million at September 30, 2024 41,205 46,861 Inventories, net 122,304 126,350 Prepaid expenses and other current assets 3,754 4,123 Total current assets 174,194 181,935 Property and equipment, net 80,540 82,869 Right of use asset - operating leases 53,547 55,701 Deposits and other assets 1,557 787 Intangible assets, net 22,591 25,103 Goodwill 61,152 61,152 Total assets$393,581 $407,547 Liabilities and Stockholders' Equity Liabilities: Accounts payable$28,368 $31,002 Accrued liabilities 31,164 31,740 Income taxes payable 211 948 Current portion of lease obligations - operating leases 13,203 12,885 Current portion of lease obligations - finance leases 553 368 Current portion of long-term debt 41,423 43,816 Current portion of notes payable related parties 10,070 6,400 Current portion of seller notes - related parties — 2,500 Total current liabilities 124,992 129,659 Long-term debt, net of current portion 53,687 54,994 Lease obligation long term - operating leases 44,942 50,111 Lease obligation long term - finance leases 42,236 41,677 Notes payable related parties, net of current portion 6,894 4,934 Seller notes - related parties 18,143 40,361 Deferred tax liability 10,607 6,267 Other non-current obligations 3,149 6,655 Total liabilities 304,650 334,658 Commitments and contingencies Stockholders' equity: Series E convertible preferred stock, $0.001 par value, 200,000 shares authorized, 47,840 shares issued and outstanding at March 31, 2025 and September 30, 2024, with a liquidation preference of $0.30 per share outstanding — — Common stock, $0.001 par value, 10,000,000 shares authorized, 3,084,351 and 3,131,360 shares issued and outstanding at March 31, 2025 and September 30, 2024, respectively 2 2 Paid in capital 69,792 69,692 Treasury stock common 741,696 and 694,687 shares as of March 31, 2025 and September 30, 2024, respectively (9,488) (9,072)Treasury stock Series E preferred 80,000 shares as of March 31, 2025 and September 30, 2024 (7) (7)Retained earnings 28,632 12,274 Total stockholders' equity 88,931 72,889 Total liabilities and stockholders' equity$393,581 $407,547 LIVE VENTURES, INCORPORATEDCONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)(dollars in thousands, except per share) For the Three Months Ended March 31, For the Six Months Ended March 31, 2025 2024 2025 2024 Revenue$107,013 $118,626 $218,521 $236,219 Cost of revenue 71,865 83,159 148,011 164,425 Gross profit 35,148 35,467 70,510 71,794 Operating expenses: General and administrative expenses 28,321 29,824 58,392 57,503 Sales and marketing expenses 4,735 6,481 9,264 11,588 Total operating expenses 33,056 36,305 67,656 69,091 Operating income (loss) 2,092 (838) 2,854 2,703 Other expense: Interest expense, net (3,933) (4,167) (8,095) (8,330)Gain on extinguishment of debt — — 713 — Gain on settlement of earnout liability — — 2,840 — Gain on modification of seller note 22,784 — 22,784 — Other income 160 507 580 223 Total other income (expense), net 19,011 (3,660) 18,822 (8,107)Income (loss) before provision for income taxes 21,103 (4,498) 21,676 (5,404)Provision for (benefit from) income taxes 5,237 (1,217) 5,318 (1,441)Net income (loss)$15,866 $(3,281) $16,358 $(3,963) Income (loss) per share: Basic$5.10 $(1.04) $5.25 $(1.25)Diluted$5.05 $(1.04) $5.20 $(1.25) Weighted average common shares outstanding: Basic 3,109,362 3,154,771 3,113,864 3,159,180 Diluted 3,138,717 3,154,771 3,143,219 3,159,180 LIVE VENTURES INCORPORATEDNON-GAAP MEASURES RECONCILIATION Adjusted EBITDA The following table provides a reconciliation of Net (loss) income to total Adjusted EBITDA¹ for the periods indicated (dollars in thousands): For the Three Months Ended For the Six Months Ended March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024Net income (loss)$15,866 $(3,281) $16,358 $(3,963)Depreciation and amortization 4,401 4,188 8,816 8,483 Stock-based compensation 49 50 100 100 Interest expense, net 3,933 4,167 8,095 8,330 Income tax expense (benefit) 5,237 (1,217) 5,318 (1,441)Gain on extinguishment of debt — — (713) — Gain on modification of seller note (22,784) — (22,784) — Gain on settlement of earnout liability — — (2,840) — Acquisition costs — 468 — 874 Debt acquisition costs — — — 183 Other non-recurring charges (256) 82 (159) 587 Adjusted EBITDA$6,446 $4,457 $12,191 $13,153 1 Adjusted EBITDA is a non-GAAP measure.
Second Quarter FY 2025 Segment Results (in thousands) For the three months ended March 31, 2025 2024 % ChangeRevenue Retail - Entertainment$18,467 $16,842 9.6%Retail - Flooring 27,399 32,032 -14.5%Flooring Manufacturing 29,820 34,180 -12.8%Steel Manufacturing 31,321 35,488 -11.7%Corporate & Other 6 84 -92.9%Total Revenue$107,013 $118,626 -9.8% For the three months ended March 31, 2025 2024 % ChangeOperating Income (loss) Retail - Entertainment$2,498 $1,784 40.0%Retail - Flooring (2,741) (3,023) 9.3%Flooring Manufacturing 1,483 1,978 -25.0%Steel Manufacturing 2,196 872 151.8%Corporate & Other (1,344) (2,449) 45.2%Total Operating Income$2,092 $(838) N/A For the three months ended March 31, 2025 2024 % ChangeAdjusted EBITDA¹ Retail - Entertainment$2,755 $2,153 28.0%Retail - Flooring (1,778) (1,849) 3.8%Flooring Manufacturing 2,272 2,897 -21.6%Steel Manufacturing 3,742 2,331 60.5%Corporate & Other (545) (1,075) 49.3%Total Adjusted EBITDA¹$6,446 $4,457 44.6% Adjusted EBITDA¹ as a percentage of revenue Retail - Entertainment 14.9% 12.8% Retail - Flooring -6.5% -5.8% Flooring Manufacturing 7.6% 8.5% Steel Manufacturing 11.9% 6.6% Corporate & OtherN/A N/A Total Adjusted EBITDA¹ 6.0% 3.8% as a percentage of revenue Retail – Entertainment The Retail-Entertainment segment revenue for the quarter ended March 31, 2025 was approximately $18.5 million, an increase of approximately $1.6 million, or 9.6%, compared to prior year period revenue of approximately $16.8 million.
LAS VEGAS, May 08, 2025 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) ("Live Ventures” or the "Company”), a diversified holding company, today announced financial results for its fiscal second quarter 2025 ended March 31, 2025. Fiscal Second Quarter 2025 Key Highlights: Revenue was $107.0 million, compared to $118.6 million in the prior year periodOperating income increased $2.9 million to $2.1 million, compared to an operating loss of $0.8 million in the prior year periodSuccessfully negotiated a $19 million reduction on the balance owed under the Flooring Liquidators, Inc.("Flooring Liquidators”) seller note, which, when including the cancellation of accrued interest and other items, resulted in a $22.8 million net gain for Live VenturesIncome before provision for income taxes was $21.1 million, compared to the prior year period loss before benefit from income taxes of $4.5 million.
