Live Ventures Inc Stock price
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Key metrics
📘 Market Capitalization
📈 What is it?
Market capitalization shows how much a company is currently worth on the stock market.
🧮 How is it calculated?
🏛️ Why is it important?
It helps classify companies by size (Large, Mid, Small Cap) and indicates their market presence and relative stability.
🧮 Calculation
🎯 What does this mean for investors?
- Large-cap companies tend to be more stable, often pay dividends, but may grow more slowly.
- Smaller firms may offer higher growth potential but come with more volatility.
- Market capitalization is a useful indicator of company size — but not a measure of whether a stock is undervalued or overvalued.
📘 Enterprise Value (EV)
📈 What is it?
Enterprise Value represents the total cost to acquire a company — including its debt and excluding its cash reserves.
🧮 How is it calculated?
(= Market Cap + Net Debt)
🏛️ Why is it important?
EV gives a more complete picture of a company's value than market cap alone and is used in key valuation ratios like EV/FCF or EV/Sales.
🧮 Calculation
🎯 What does this mean for investors?
- Enterprise Value shows the true cost of buying a company, including all financial obligations.
- It is more accurate than just looking at market cap, especially when comparing companies with different levels of debt or cash.
- Professional investors prefer EV-based multiples because they better reflect the company’s full financial footprint.
📘 Net Debt
📈 What is it?
Net Debt shows how much debt remains after subtracting a company’s available cash reserves.
🧮 How is it calculated?
🏛️ Why is it important?
It indicates how dependent a company is on borrowed money and how easily it can service its debt in the short term.
🧮 Calculation
🎯 What does this mean for investors?
- Low or negative net debt signals financial strength and flexibility.
- Companies with strong cash positions are better positioned in crises.
- High net debt increases financial risk — especially in environments with rising interest rates or economic downturns.
📘 Cash
📈 What is it?
Cash represents all liquid assets a company can access immediately — including cash, bank deposits, and short-term investments.
🧮 How is it calculated?
🏛️ Why is it important?
It reflects a company’s financial flexibility and resilience — enabling investments, buybacks, or buffer in downturns.
🧮 Calculation
🎯 What does this mean for investors?
- A strong cash position means greater room for maneuver and crisis resistance.
- Cash-rich companies can invest, pay down debt, or repurchase shares.
- But excess idle cash might indicate a lack of growth opportunities.
📘 Shares Outstanding
📈 What is it?
Shares outstanding represent the total number of a company’s shares currently held by investors — excluding treasury stock.
🧮 How is it calculated?
🏛️ Why is it important?
It’s the basis for key metrics like Earnings Per Share (EPS), Market Capitalization, or the Price/Earnings ratio (P/E).
🧮 Calculation
🎯 What does this mean for investors?
- Fewer shares in circulation typically increase earnings per share — making each share more valuable.
- Share buybacks reduce the number of shares and boost per-share metrics.
- Issuing new shares does the opposite — diluting shareholder value and lowering per-share figures.
📘 Price-to-Earnings Ratio (P/E)
📈 What is it?
The P/E ratio shows how many times a company's earnings per share are reflected in its current share price — in other words, how "expensive" the stock appears relative to its profits.
🧮 How is it calculated?
🏛️ Why is it important?
The P/E ratio is one of the most widely used valuation metrics. It helps investors assess whether a stock appears cheap or expensive compared to its earnings power.
🧮 Calculation
📊 P/E (TTM) = Based on earnings from the last 12 months (Trailing Twelve Months):🎯 What does this mean for investors?
- A low P/E may indicate undervaluation — or signal underlying issues.
- A high P/E may reflect strong growth expectations — or an overvalued stock.
📘 Price-to-Sales Ratio (P/S)
📈 What is it?
The P/S ratio shows how much investors are paying for $1 of the company’s revenue – regardless of profitability.
🧮 How is it calculated?
🏛️ Why is it important?
P/S is especially useful for evaluating growth companies or businesses not yet profitable. It reflects how the market values the company’s sales.
🧮 Calculation
Market Cap = $23.96m | Revenue (TTM) = $434.25m
🎯 What does this mean for investors?
- A low P/S may indicate undervaluation — or low profitability.
- A high P/S can reflect strong growth expectations — or excessive optimism.
- Especially helpful when evaluating companies where profits are low, volatile, or negative.
📘 Enterprise Value to Sales (EV/Sales)
📈 What is it?
EV/Sales shows how much investors are paying for $1 of revenue — considering not just equity, but also debt and cash. It’s the capital structure–adjusted version of the P/S ratio.
🧮 How is it calculated?
🏛️ Why is it important?
It’s ideal for comparing companies with different levels of debt. It reflects a company's true cost relative to its revenue.
🧮 Calculation
Enterprise Value = $170.22m | Revenue (TTM) = $434.25m
🎯 What does this mean for investors?
- EV/Sales allows for capital structure–neutral company comparisons.
- A lower ratio may indicate undervaluation; a higher one may signal strong growth expectations or overvaluation.
- Especially helpful when evaluating high-growth companies with low or negative earnings.
📘 Enterprise Value to Free Cash Flow (EV/FCF)
📈 What is it?
EV/FCF shows how many years it would take for a company to "pay back" its enterprise value using its free cash flow.
🧮 How is it calculated?
🏛️ Why is it important?
It focuses on real cash generation, ignoring accounting noise — ideal for assessing profitability and value based on liquidity, not earnings.
🧮 Calculation
🎯 What does this mean for investors?
- A low EV/FCF may signal undervaluation and strong cash generation.
- A high EV/FCF might reflect weak recent cash flow or aggressive growth expectations.
- Best suited for stable, mature businesses with predictable free cash flows.
📘 Price-to-Book Ratio (P/B)
📈 What is it?
The P/B ratio compares a company’s market value to its book value — showing how much investors are paying for each dollar of net assets.
🧮 How is it calculated?
🏛️ Why is it important?
P/B is commonly used for asset-heavy industries like banks or industrials. It helps assess whether a stock is trading above or below its net asset value.
🧮 Calculation
🎯 What does this mean for investors?
- A P/B below 1 may signal undervaluation — or weak profitability.
- A P/B above 1 implies the market expects future value creation (e.g., brand, IP, growth).
- Best used for companies with tangible assets and strong balance sheets.
📘 Equity Ratio
📈 What is it?
The equity ratio indicates what portion of a company’s total assets is financed by shareholders’ equity – in other words, how much it relies on its own capital.
🧮 How is it calculated?
🏛️ Why is it important?
A high equity ratio reflects financial strength and stability, especially during downturns. It’s a key indicator of a company’s solvency and long-term risk profile.
🧮 Calculation
🎯 What does this mean for investors?
- Companies with high equity ratios are generally more resilient and less dependent on external debt.
- Low equity ratios can signal higher risk or aggressive financial strategies.
- Important: Always assess the equity ratio in combination with the return on equity (ROE). This shows not just how stable the company is – but also how efficiently it uses shareholder capital.
📘 Return on Equity (ROE)
📈 What is it?
Return on equity (ROE) shows how efficiently a company uses its shareholders’ equity to generate profit. In other words: how much net income is earned per dollar of equity.
🧮 How is it calculated?
🏛️ Why is it important?
ROE is a core profitability metric. It helps investors understand whether a company delivers attractive returns on the capital provided by its shareholders.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROE indicates that the company is using its capital efficiently and profitably.
- It’s especially meaningful for capital-intensive businesses or firms with high equity bases.
- Important: A very high ROE can also result from high debt levels – always interpret it alongside the equity ratio to assess financial health.
📘 Return on Capital Employed (ROCE)
📈 What is it?
ROCE measures how efficiently a company generates profits from its total capital – including both equity and interest-bearing debt.
🧮 How is it calculated?
It evaluates the return on all capital employed, regardless of how it’s financed.
🏛️ Why is it important?
ROCE is ideal for comparing companies with different financing structures. It shows how well management uses capital to create value for both shareholders and creditors.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROCE means the company uses its capital efficiently – regardless of whether it's funded by debt or equity.
- The higher the ROCE compared to peers, the more value the company creates with its invested capital.
- Especially relevant for capital-intensive sectors like industrials, energy, or infrastructure.
📘 Return on Invested Capital (ROIC)
📈 What is it?
ROIC measures how efficiently a company generates returns from the capital invested in its core operations – regardless of whether the capital comes from equity or debt.
🧮 How is it calculated?
- NOPAT = Net Operating Profit After Taxes
- Invested Capital = Operating assets minus non-interest-bearing liabilities
🏛️ Why is it important?
ROIC is one of the most accurate indicators of capital efficiency. Unlike return on equity, it is not distorted by leverage and shows how much value is created for all capital providers.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROIC shows how effectively a company uses the capital that is truly invested in its core operations.
- Unlike ROCE, ROIC focuses only on the capital that is actively used to run the business – and that requires a return (i.e. interest-bearing).
- Especially useful when comparing companies with large amounts of excess cash or non-interest-bearing liabilities – giving a more realistic picture of capital efficiency.
📘 Leverage Ratio (Debt-to-Equity)
📈 What is it?
The leverage ratio indicates how much a company relies on interest-bearing debt (such as loans and bonds) relative to its shareholders’ equity.
🧮 How is it calculated?
🏛️ Why is it important?
This ratio helps assess a company’s financial structure and risk profile. High leverage can enhance returns – but also increases exposure to interest rate changes and financial stress.
🧮 Calculation
🎯 What does this mean for investors?
- A low leverage ratio signals financial strength and independence.
- A higher ratio can improve returns in good times but increases risk during downturns or rising interest rate periods.
- 👉 Always interpret in the context of industry, capital intensity, and interest rate environment.
📘 Revenue
📈 What is it?
Revenue shows how much a company earns in total from selling its products and services – the gross income before any costs are deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Revenue is one of the key figures to assess a company’s size, market position, and growth potential.
🧮 Calculation
🎯 What does this mean for investors?
- Growing revenue indicates rising demand and can be an early signal of future earnings growth.
- Comparing actual and expected revenue reveals trends in the market environment and analyst sentiment.
- Note: Strong revenue alone isn’t enough – margins and profitability matter just as much.
📘 EBITDA
📈 What is it?
EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization.” It reflects a company’s operating profit before the effects of financing, taxes, and accounting depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
EBITDA is widely used to evaluate a company’s operating performance – especially across capital-intensive sectors or international comparisons.
🧮 Calculation
🎯 What does this mean for investors?
- A high or growing EBITDA indicates strong operational profitability – independent of taxes, interest, or accounting methods.
- It’s especially useful for comparing companies across sectors or geographies.
- Important: EBITDA is not a net income figure – it excludes key costs like depreciation and interest.
📘 EBIT
📈 What is it?
EBIT stands for “Earnings Before Interest and Taxes.” It reflects a company’s operating profit after depreciation, but before interest and tax expenses.
🧮 How is it calculated?
🏛️ Why is it important?
EBIT is a core profitability metric that shows how well the company performs in its main business operations – independent of capital structure and tax environment.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT indicates strong profitability from the company’s core business – before financial and tax effects.
- It allows better comparison between companies with different debt levels or tax structures.
- Compared to EBITDA, EBIT already accounts for depreciation and reflects capital intensity more clearly.
📘 Net Income
📈 What is it?
Net income is the company’s total profit – the amount left after all expenses, taxes, interest, and depreciation have been deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Net income is the most comprehensive measure of a company’s profitability – showing how much actual profit remains after all business and financing costs.
🧮 Calculation
🎯 What does this mean for investors?
- Growing net income indicates that the company is managing all of its costs efficiently.
- It directly influences valuation metrics like P/E ratio and the company’s dividend capacity.
- Over time, net income trends reveal how resilient and profitable the business model really is.
📘 Free Cash Flow (FCF)
📈 What is it?
Free Cash Flow shows how much actual cash remains after a company covers its operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
FCF reflects a company’s real financial strength – regardless of accounting profits. It shows how much flexibility a company has for dividends, share buybacks, or debt reduction.
🧮 Calculation
🎯 What does this mean for investors?
- High free cash flow means the company generates real, usable cash – independent of reported net income.
- It’s often the most reliable base for sustainable dividends and buybacks.
- Declining FCF can be an early warning sign – even when profits appear stable.
📘 Revenue Growth
📈 What is it?
Revenue growth shows how much a company’s sales have changed compared to the previous year – both on a trailing basis (TTM) and based on forward projections.
🧮 How is it calculated?
Forward = (Expected revenue ÷ Revenue in prior year − 1) × 100
Forward growth is based on analyst estimates for the current fiscal year.
🏛️ Why is it important?
Rising revenue signals growing demand, business expansion, and market share gains – especially important for growth-oriented companies.
🧮 Calculation
🎯 What does this mean for investors?
- Growth is the engine of long-term value creation – especially in tech and growth sectors.
- What matters is not just current growth, but its sustainability.
- Forward projections reflect whether analysts expect continued momentum – or a slowdown.
📘 EBITDA Growth
📈 What is it?
EBITDA growth shows how much a company’s operating profit (before interest, taxes, depreciation, and amortization) has increased or decreased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBITDA ÷ EBITDA from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
Growing EBITDA indicates improving operational profitability – regardless of financing or accounting effects.
🧮 Calculation
🎯 What does this mean for investors?
- Strong EBITDA growth signals operational efficiency and scalability – especially during growth phases.
- EBITDA growth can be an early indicator of margin and earnings expansion – but should be assessed alongside revenue and EBIT.
📘 EBIT Growth
📈 What is it?
EBIT growth shows how much a company’s operating profit (after depreciation, but before interest and taxes) has increased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBIT ÷ EBIT from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
EBIT growth is a direct indicator of a company’s business performance – taking into account capital intensity through depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- Rising EBIT signals improving operating profitability – even after accounting for depreciation.
- It’s especially important for evaluating companies with significant capital expenditures.
- Combined with revenue and EBITDA growth, EBIT growth provides a well-rounded view of operational progress.
📘 Net Income Growth
📈 What is it?
Net income growth shows how much a company’s bottom-line profit has increased or decreased compared to the previous year – both on a trailing basis (TTM) and based on analyst projections.
🧮 How is it calculated?
Forward = (Expected net income ÷ Net income from prior year − 1) × 100
The forward estimate reflects analysts’ expectations for the current fiscal year.
🏛️ Why is it important?
Net income is the ultimate measure of profitability. Growing net income signals stronger efficiency, cost control, and sustainable earnings power.
🧮 Calculation
🎯 What does this mean for investors?
- Stronger net income boosts valuation, dividend potential, and investor confidence.
- If profits stall while revenue grows, it may signal margin pressure.
📘 Free Cash Flow Growth
📈 What is it?
Free cash flow (FCF) growth shows how a company’s available cash – after covering operating expenses and capital expenditures – has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
Free cash flow reflects real financial strength. Growing FCF indicates more flexibility for dividends, share buybacks, and reinvestment.
🧮 Calculation
🎯 What does this mean for investors?
- Declining FCF may point to rising investments, increasing costs, or weaker operating performance.
- Especially for dividend investors, FCF growth is critical – since dividends are paid from actual available cash.
- A negative trend isn't always bad, but it deserves closer attention.
📘 Gross Margin
📈 What is it?
Gross margin shows how much of a company’s revenue remains after deducting the direct costs of goods sold (like materials and production). It represents the company’s “raw profit” before fixed costs, taxes, and interest.
🧮 How is it calculated?
Or simply: Gross Margin = Gross Profit ÷ Revenue × 100
🏛️ Why is it important?
Gross margin indicates how efficiently a company can produce or procure what it sells. It is a key measure of product-level profitability and pricing power.
🧮 Calculation
🎯 What does this mean for investors?
- A high gross margin suggests strong pricing power and efficient production.
- Falling margins may signal rising input costs or competitive pressure.
- Compared to peers, gross margin offers insights into the quality of a business model.
📘 EBITDA Margin
📈 What is it?
The EBITDA margin shows how much of a company’s revenue remains as operating profit before interest, taxes, depreciation, and amortization.It reflects operating efficiency without being distorted by financing or accounting factors.
🧮 How is it calculated?
🏛️ Why is it important?
The EBITDA margin reveals how much operating income a company generates per dollar of revenue – independent of capital structure and tax effects.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBITDA margin reflects strong core profitability – before accounting distortions.
- It allows for effective comparisons across companies and sectors.
- A stable or growing margin signals efficient cost control and business scalability.
📘 EBIT Margin
📈 What is it?
The EBIT margin shows what percentage of revenue remains as operating profit after depreciation but before interest and taxes.
🧮 How is it calculated?
🏛️ Why is it important?
The EBIT margin reflects a company’s core profitability while accounting for capital intensity (e.g. machinery, infrastructure). It’s especially useful for comparing businesses with different levels of depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT margin shows that the company remains efficient even after factoring in depreciation.
- It’s especially relevant for capital-intensive industries.
- Stable or rising EBIT margins over time are a strong indicator of pricing power and business quality.
📘 Net margin
📈 What is it?
Net margin shows how much of a company’s revenue remains as bottom-line profit after deducting all costs, interest, taxes, and depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
Net margin reflects a company’s overall efficiency – across operations, financing, and taxation. It shows how much actual profit is generated from each dollar of revenue.
🧮 Calculation
🎯 What does this mean for investors?
- A high net margin means the company is not only strong operationally but also manages financing and taxes efficiently.
- Peer comparisons reveal business quality and competitiveness.
- Declining margins despite revenue growth can be a red flag for rising costs or inefficiencies.
📘 Free cash flow margin
📈 What is it?
The free cash flow (FCF) margin shows how much of a company’s revenue remains as actual free cash after covering all operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
This margin reflects the true liquidity generated by the business – independent of accounting rules or depreciation. It’s especially relevant for dividends, buybacks, and reinvestment decisions.
🧮 Calculation
🎯 What does this mean for investors?
- A high FCF margin means a company consistently generates strong cash flow.
- It’s a positive signal for financial stability and shareholder returns.
- The long-term trend is key – a declining margin may indicate rising investments or weakening operating efficiency.
📘 Earnings per share (EPS)
📈 What is it?
Earnings per Share (EPS) shows how much profit is attributable to a single share – and is one of the most important metrics for evaluating a company's performance.
🧮 How is it calculated?
The diluted share count reflects potential new shares that could be issued through options, convertible bonds, or other rights.
🏛️ Why is it important?
EPS is the basis for many key valuation metrics like P/E ratio, PEG ratio, or payout ratio. It enables comparisons of profitability across companies, regardless of their size.
🧮 Calculation
🎯 What does this mean for investors?
- EPS captures per-share profitability and is especially useful for comparisons over time or with analyst estimates.
- Rising EPS may signal consistent growth or share buybacks.
- Important: Always use diluted EPS for more realistic valuations – especially in companies with stock-based compensation.
📘 Free cash flow per share (FCF per share)
📈 What is it?
Free Cash Flow per Share shows how much free cash flow a company generates per outstanding share – after investments, but before dividends or debt repayments.
🧮 How is it calculated?
Free cash flow is calculated as operating cash flow minus capital expenditures (CapEx).
🏛️ Why is it important?
FCF per Share reveals how much real cash is available per share – useful for dividends, buybacks, or reducing debt. Unlike net income, free cash flow is harder to manipulate and often seen as a more reliable metric.
🧮 Calculation
🎯 What does this mean for investors?
- High FCF per share signals strong financial flexibility.
- It shows how much capital the company can effectively reinvest or return to shareholders.
- Particularly relevant for dividend payers and capital-efficient businesses.
📘 Short interest
📈 What is it?
Short interest indicates how many shares of a company are currently sold short – that is, borrowed and sold by investors who expect the price to decline.
🧮 How is it calculated?
It reflects the percentage of a company’s shares that are being shorted relative to the total shares available.
🏛️ Why is it important?
Short interest serves as a sentiment indicator: A high value may signal skepticism or bearish expectations – but also increases the potential for a short squeeze if prices rise unexpectedly.
🧮 Calculation
🎯 What does this mean for investors?
- Low short interest usually indicates market confidence in the company.
- High short interest can be a warning sign – or an opportunity if sentiment shifts.
- Especially relevant in volatile markets or ahead of key earnings releases.
📘 Employees
📈 What is it?
The employee count shows how many people a company employs worldwide – offering insights into its size, structure, and business model.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess operational scale, labor intensity, and cost structure. Combined with revenue and profit, it enables key metrics like revenue per employee or productivity.
🧮 Calculation
🎯 What does this mean for investors?
- A high headcount can signal operational complexity – but also significant growth capacity.
- Revenue per employee is a key indicator of efficiency.
- Especially useful for comparing tech, industrial, or service-heavy companies.
📘 Turnover per employee
📈 What is it?
Revenue per employee indicates how much revenue a company generates on average per employee – a key measure of efficiency and productivity.
🧮 How is it calculated?
The employee count is typically taken from the most recent annual report.
🏛️ Why is it important?
This metric helps compare business models – especially between labor-intensive and technology-driven companies. A high value suggests automation, operational efficiency, or strong value creation per head.
🧮 Calculation
🎯 What does this mean for investors?
- A high revenue per employee indicates a scalable and margin-strong business model.
- A low figure may reflect labor-intensive operations or lower value-add.
- Especially helpful when comparing tech companies to industrial or service sectors.
Live Ventures Inc Stock Analysis
Analyst Opinions
7 Analysts have issued a Live Ventures Inc forecast:
Analyst Opinions
7 Analysts have issued a Live Ventures Inc forecast:
Live Ventures Inc Events
Past Events
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AUG
13
Q3 2026 Earnings Call
about one month ago
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MAY
14
Q2 2026 Earnings Call
4 months ago
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FEB
12
Q1 2026 Earnings Call
7 months ago
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DEC
11
Q4 2025 Earnings Call
9 months ago
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StocksGuide Free
Live Ventures Inc — Q3 2026 Earnings Call
1. Management Discussion
Welcome to the Live Ventures Fiscal Year 2026 Third Quarter Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Greg Powell, Director of Investor Relations. Please go ahead, sir.
Thank you, Jen. Good afternoon, and welcome to the Live Ventures Third Quarter Fiscal Year 2026 Conference Call. Joining us this afternoon are Jon Isaac, our Chief Executive Officer and President; and David Verret, our Chief Financial Officer.
Some of the statements we are making today are forward-looking and are based on our best view of our businesses as we see them today. The actual results could differ materially due to the number of factors, including those outlined in our latest filings, Forms 10-K and 10-Q, as filed with the Securities and Exchange Commission. We have no obligation to publicly update any forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions or otherwise. You can find our press release and our 10-Q referenced on this call in the Investor Relations section of the Live Ventures website. I direct you to our website, liveventures.com or sec.gov for our historical SEC filings.
I will now turn the call over to David to walk through our financial performance.
Thank you, Greg. Good afternoon, everyone. Before discussing our financial results, I'd like to touch on a key -- a few key highlights from the quarter. During the quarter, our Retail-Entertainment and Steel Manufacturing segments posted revenue growth, improved operating income and higher adjusted EBITDA. The Retail-Entertainment segment's revenue grew 12.7%, while operating income and adjusted EBITDA increased 33.8% and 28.9%, respectively. The Steel Manufacturing segment's revenue increased 7.3% with operating income and adjusted EBITDA up 68.9% and 16.3%, respectively. These results were partially offset by continued weakness in the Retail-Flooring segment where softness in the new home construction and home refurbishment markets weighed on operating performance.
Let's now discuss the financial results for the third quarter ended June 30, 2026. Revenue decreased approximately $3.6 million or 3.2% to $108.9 million compared to revenue of $112.5 million in the prior year period. Notably, 3 of our 4 operating segments delivered year-over-year growth. Revenue decreased primarily due to a decline of approximately $9 million in the Retail-Flooring segment, partially offset by an increase of approximately $2.4 million in the Retail-Entertainment segment, $1.8 million in the Steel Manufacturing segment and $1.1 million in the Flooring Manufacturing segment.
The Retail-Entertainment segment revenue increased approximately $2.4 million or 12.7% to $21.4 million compared to $19 million in the prior year period. The revenue growth was driven by strong consumer demand across all product lines.
Retail-Flooring segment revenue decreased approximately $9 million or 29.4% to $21.4 million compared to $30.4 million in the prior year period. The decline was primarily driven by lower retail and contractor sales due to continued headwinds in the home and new home construction and home refurbishment markets.
Flooring Manufacturing segment revenue increased approximately $800,000 or 2.8% to $31.8 million compared to $31 million in the prior year period. Revenue net of intercompany eliminations increased approximately $1.1 million compared to the prior year period.
Steel Manufacturing segment revenue increased approximately $2.5 million or 7.3% to $36.3 million compared to $33.8 million in the prior year period. The increase in revenue was primarily driven by higher sales volumes in the fabricated, hardened wear, tool and die businesses, partially offset by lower revenue in the metal forming, assembly and finishing solutions business. Revenue net of intercompany eliminations increased approximately $1.8 million compared to the prior year period.
Gross profit decreased approximately $1.2 million or 3.1% to $37.1 million compared to $38.3 million in the prior year period, driven primarily by lower revenue in the Retail-Flooring segment. Gross margin increased approximately 10 basis points to 34.1%, reflecting improved margins in the Retail-Flooring and Steel Manufacturing segments.
General and administrative expenses increased 5% to approximately $27.6 million. The increase was primarily driven by increased compensation and professional fees in the Retail-Entertainment, Flooring Manufacturing and Corporate segments. These increases were partially offset by lower general and administrative expenses in the Retail-Flooring and Steel Manufacturing segments.
Sales and marketing expenses increased 5.4% to approximately $4.2 million, primarily reflecting higher sales and marketing expense in the Retail-Flooring and Retail-Entertainment segments. Operating income decreased approximately $2.7 million or 34% to $5.3 million compared to $8 million in the prior year period. The decrease was driven by lower gross profit of $1.2 million as well as higher operating expenses previously mentioned. Interest expense was approximately $3.8 million, flat compared to the prior year period.
Income before income taxes was approximately $1.4 million compared to $7.5 million in the prior year period. Net loss was approximately $1.1 million and a loss per share of $0.34 compared to net income of approximately $5.4 million and diluted EPS of $1.24 in the prior year period. The prior year period results benefit from a $1.5 million gain on employee retention credits and a $1.3 million gain on the settlement of a holdback liability related to Precision Marshall.
Adjusted EBITDA decreased approximately 3.9% or -- I'm sorry, $3.9 million or 29.5% to $9.3 million compared to $13.2 million in the prior year period. The decrease in adjusted EBITDA was primarily due to the decrease in revenue.
Turning to liquidity. We ended the second quarter with total cash availability of approximately $39.8 million, consisting of cash on hand of approximately $10.9 million and $28.9 million available for borrowing under our various lines of credit. As of June 30, total assets were $385.8 million and total stockholders' equity was $91.9 million. As a part of our capital allocation strategy, we may make share repurchases from time to time. We currently have approximately $9.5 million remaining available under our $10 million share repurchase program.
In conclusion, our third quarter performance demonstrates the resilience of our diversified operating portfolio. While we continue to navigate challenging conditions in our Retail-Flooring segment, our Retail-Entertainment segment, our Steel Manufacturing segment both delivered solid growth and improved profitability. We remain focused on initiatives to improve performance across our operating segments and drive sustainable value creation over the long term.
We will now take questions from those of you on the conference call. Operator, please open the line for questions.
[Operator Instructions]
Okay. Seeing as there are no questions, I'll go ahead and just give closing remark. I want to thank everyone attending our Q3 fiscal 2026 earnings call, and we look forward to talking with you on our year-end call. Thank you.
And this does conclude today's conference call. Thank you for attending.
Live Ventures Inc — Q2 2026 Earnings Call
1. Management Discussion
Good day, everyone, and welcome to the Live Ventures Fiscal Year '26 Q2 Earnings Conference Call. [Operator Instructions] Now I'll turn the call over to your host, Greg Powell, Director of Investor Relations. Please go ahead, Greg.
Thank you, Elvis. Good afternoon, and welcome to the Live Ventures Second Quarter Fiscal Year 2026 Conference Call. Joining us this afternoon are Jon Isaac, our Chief Executive Officer and President; and David Verret, our Chief Financial Officer. Some of the statements we're making today are forward-looking and are based on our best view of our businesses as we see them today.
The actual results could differ materially due to a number of factors, including those outlined in our latest financials, Forms 10 and Forms 10-Q as filed with the Securities and Exchange Commission. And a matter of fact, our 10-Q will be filed here in a few minutes for this quarter. We have no obligation to publicly update our forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions or otherwise. You can find our press release referenced on this call in the Investor Relations section of the Live Ventures website. I direct you to our website, liveventures.com or sec.gov for our historical SEC filings.
I will now turn the call over to David to walk us through our financial performance. David?
Thank you, Greg. Good afternoon, everyone. Before discussing our financial results, I'd like to touch on a few key highlights from the quarter. During the quarter, our Retail Entertainment and Flooring Manufacturing segments delivered strong operating income growth of 32.8% and 24%, respectively.
However, these gains were offset by a $1.9 million decrease in operating loss -- increase in operating loss in the Retail Flooring segment and a noncash goodwill impairment charge of approximately $4 million in our Steel Manufacturing segment. Excluding the impairment charge, consolidated operating income would have been approximately $2 million, essentially in line with the prior year period.
Let's now discuss the financial results for the second quarter ended March 31, 2026. Revenue decreased approximately $4.1 million or 3.8% to $102.9 million compared to revenue of $107 million in the prior year period. The decrease in revenue primarily reflects a decline of approximately $7.2 million in the Retail Flooring segment, partially offset by an increase of approximately $2.7 million in the Retail Entertainment segment.
Retail Entertainment segment revenue increased approximately $2.7 million or 14.8% to $21.2 million compared to $18.5 million in the prior year period. The revenue growth was driven by strong consumer demand across all product lines. Retail Flooring segment revenue decreased approximately $7.2 million or 26.2% to $20.2 million compared to $27.4 million in the prior year period. The decline was primarily driven by lower retail and contractor sales due to the continued headwinds in the new home construction and home refurbishment markets.
Flooring Manufacturing revenue decreased approximately $1 million or 3.2% to $30.3 million compared to $31.3 million in the prior year period. The decline was primarily attributable to continued softness in the housing market. Net of intercompany eliminations, revenue decreased approximately $600,000 compared to the prior year period.
Steel Manufacturing segment revenue increased approximately $1.1 million or 3.4% to $32.5 million compared to the prior year period. The increase in revenue was primarily driven by higher sales volumes in the fabricated, hardened ware, tool and die businesses, partially offset by lower revenue in the metal forming, assembly and finishing solutions business.
Net of intercompany eliminations, revenue increased approximately $900,000 compared to the prior year period. Gross profit decreased approximately $600,000 or 1.6% to $34.6 million compared to $35.1 million in the prior year period. The decrease in gross profit was driven primarily by the lower revenues in the Retail Flooring segment. Gross margin increased 80 basis points to 33.6% compared to 32.8% in the prior year period, reflecting improved margins in the Steel Manufacturing, Flooring Manufacturing and Retail Flooring segments as well as a more favorable revenue mix as the higher-margin Retail Entertainment segment represented a larger share of consolidated revenue.
General and administrative expense decreased 2.3% to approximately $27.7 million. The decline was driven primarily by targeted cost reduction initiatives in our Retail Flooring and our Flooring Manufacturing segments, including lower compensation expense and reduced professional fees, partially offset by increased compensation and occupancy costs in our Retail Entertainment segment.
Sales and marketing expense increased 3.4% to approximately $4.9 million, primarily reflecting higher sales and marketing activity in the Retail Flooring segment. Operating loss was $2 million compared to operating income of $2.1 million in the prior year period. The decrease was primarily driven by a noncash goodwill charge of $4 million in the Steel Manufacturing segment. Excluding the noncash goodwill impairment charge, consolidated operating income would have been $2 million compared to $2.1 million in the prior year period.
Interest expense remained consistent at approximately $3.9 million as compared to the prior year period. Net loss was approximately $2.4 million and diluted loss per share was $0.80 compared with net income of approximately $15.9 million and diluted EPS of $5.05 in the prior year period. The net loss in the quarter -- for the quarter ended March 31, 2026, includes the goodwill impairment charge as well as a $1.4 million gain related to employee retention credits in the Retail Flooring segment.
The prior year period benefited from a $22.8 million gain related to the modification of the Flooring Liquidators' seller note. Adjusted EBITDA was $5.9 million, a decrease of approximately $600,000 or 8.8% compared to the prior year period. The decrease in adjusted EBITDA was primarily due to the lower gross profit.
Turning to liquidity. We ended the second quarter with total cash availability of approximately $39.8 million, consisting of cash on hand of $15.2 million and availability under our various lines of credit of $24.6 million. Our working capital was $74.4 million as of March 31, 2026, compared to $62.1 million as of September 30, 2025. As of March 31, total assets were $392.5 million and total stockholders' equity was $92.9 million.
In conclusion, this quarter demonstrated both the resilience of our business model and the ongoing challenges in the Retail Flooring market. We are focused on reducing costs and improving operations across our businesses, and we are pleased with the operating improvements in our Retail Entertainment and Flooring Manufacturing segments. We remain committed to building on that progress in the second half of the fiscal year while driving further efficiencies in our Retail Flooring business.
We will now take questions from those of you on the conference call. Operator, please open the line for questions.
[Operator Instructions] First up, we have Joseph Kowalsky of JD Financial Planners.
2. Question Answer
I hope there's not an echo here. I have to actually step out to a different room and have to leave the other phone. I'm just curious about the goodwill impairment. I generally understand accounting. But when it comes to things like goodwill, I always find it a little bit confusing. Could you go into just what exactly that refers to, please?
Sure. So for accounting purposes, there's an annual goodwill test. Ours is in Q4. But if there's ever a triggering event that happens before that or outside of that testing period, then you're required to do kind of impromptu test. And essentially, because of some of the loss in production that we're seeing, really stemming from a decline in the market, namely, this has to do with -- in our steel industry with our stamping and metal forming business.
And a lot of what they do relates to appliances and automobiles and things like that. And then as we're seeing our customers pull back because sales are lagging on their end, we're coming in lower than what we expected to produce in the period because they're adjusting their volume as they go. So really, it's all stemming just from just continued uncertainty in the market. Interest rates...
Is that a paper loss, but you still have the revenues coming in? Is it...
That is correct. It is all just a paper loss. So it has no impact on EBITDA. There is no cash aspect related to it. It is just a charge that kind of wipes out the goodwill. In the old days, you used to amortize goodwill down over 15 years for book purposes, but GAAP had changed that where you do not amortize it. So the only way it ever comes off the book is if, I guess, you run to an impairment.
I understand. Is the company -- has the company been considering acquiring anyone at this point? Or is the focus on paying down the debt from prior acquisitions and...
Yes. I think our strategy has remained the same. I think if there are good opportunities that are coming up, we're absolutely interested in looking at those. And while there isn't anything out there, we are taking advantage of that time and paying down our debt. I believe our debt was paid down about $8 million from March of last year to the current year, so.
And then the final question is, when you are looking for other potential acquisitions, and this is similar to a question I've asked in the past, but maybe I'm looking at it a little differently. Do you tend to look in the same areas that you currently have companies? Or are you looking more to diversify the portfolio into other areas? Or does that just depend on what comes up in the market?
I think it depends on what comes up in the market. But I think what we've seen is as we begin to establish a presence in a certain market, i.e., like in the steel industry, we start to see more of opportunities just from our presence in that space. But we will diversify it. If there's something that kind of meets our criteria, then it doesn't matter the industry.
And there is actually one final question. You've had a couple of missteps in the past. And I just wonder what you can say you've learned from those missteps as far as acquiring companies in the future. And then I will be quiet and listen.
Yes. Well, that's kind of a tough one right there. I just think really it's all just around due diligence. And every time there may be a little nuance related to an acquisition that we will kind of pick up on and then try to fine-tune that kind of going forward. So I mean, after every acquisition, I believe we get better. We get a little bit more knowledgeable. And so all we do is kind of look at what has happened, do a postmortem type of assessment on acquisitions and find out what worked and what didn't work and just trying to build on the positives and mitigate those negative aspects.
[Operator Instructions] We have no further questions at this time. David, back over to you for any closing comments.
Thank you. I want to thank everyone for joining our Q2 earnings call, and we look forward to seeing you next quarter. Thank you.
That concludes our meeting today. You may now disconnect.
Live Ventures Inc — Q1 2026 Earnings Call
1. Management Discussion
Good day, everyone, and welcome to the Live Ventures Fiscal Year 2026 Q1 Earnings Conference Call. [Operator Instructions] Now I'll turn the call over to Greg Powell, Director of Investor Relations. Please go ahead, sir.
Thank you, Elvis. Good afternoon, and welcome to the Live Ventures First Quarter Fiscal Year 2026 Conference Call. Joining us this afternoon are Jon Isaac, our Chief Executive Officer and President; and David Verret, our Chief Financial Officer.
Some of the statements we're making today are forward-looking and are based on our best view of our businesses as we see them today. The actual results could differ materially due to the number of factors, including those outlined in our latest filings, Forms 10-K and 10-Q as filed with the SEC. We have no obligation to publicly update any forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions or otherwise. You can find our press release and 10-Q, which we filed today, referenced on this call in the Investor Relations section of the Live Ventures website. I direct you to our website, liveventures.com or sec.gov for our historical SEC filings.
I will now turn the call over to David to walk you through our financial performance. David?
Thank you, Greg. Good afternoon, everyone. Before discussing our financial results, I'd like to touch on a few key highlights from the quarter. During the quarter, our portfolio companies continued to strengthen their operating disciplines and optimize their cost structures. These efforts contributed to a $2.7 million or 352.9% increase in operating income compared to the prior year period. Additionally, we reported adjusted EBITDA of $7.8 million, a $2 million or 35.7% increase compared to the prior year period.
These results were delivered despite sustained softness in new home construction and home refurbishment markets, which continue to weigh on our Retail-Flooring segment. In addition, we successfully refinanced one of our credit facilities in the Steel Manufacturing segment, strengthening our balance sheet and enhancing our ability to support future growth.
Let's now discuss the financial results for the first quarter ended December 31, 2025. Total revenue decreased approximately $3 million or 2.7% to approximately $108.5 million for the quarter ended December 31, 2025, compared to revenue of approximately $111.5 million in the prior year period. The decrease in revenue is primarily attributable to a $7.1 million decline in the Retail-Flooring and Steel Manufacturing segments, partially offset by a $4.1 million increase in the Retail-Entertainment and Flooring Manufacturing segments, net of intercompany sales eliminations.
Retail-Entertainment segment revenue for the first quarter was approximately $23.6 million, an increase of approximately $2.3 million or 11% compared to $21.3 million in the prior year period. The revenue growth was driven by strong consumer demand across all product lines. Retail-Flooring segment revenue for the first quarter was approximately $25.3 million, down $6.4 million or 20.2% compared to $31.7 million in the prior year period. The decline was primarily driven by changes in our store footprint and continued softness in the housing market.
During the quarter, we operated 2 fewer locations compared to the first quarter of 2025 due to store closures over the last year. That said, we did open 3 new stores late in the first quarter of 2026. While those locations have not yet materially contributed to revenue in the period, we're encouraged by the expansion and the opportunity they represent going forward.
Flooring Manufacturing segment revenue for the first quarter was approximately $28.9 million, a decrease of approximately $300,000 or 1.1% compared to approximately $29.2 million in the prior year period. The decrease in revenue is primarily due to lower sales to the Retail-Flooring segment. Net of intercompany sales eliminations, revenue increased approximately $2 million compared to the prior year period.
Steel Manufacturing segment revenue for the first quarter was approximately $31.9 million, a decrease of approximately $1.4 million or 4.3% compared to approximately $33.3 million in the prior year period. The decrease in revenue was primarily driven by lower sales volumes in the metal forming, assembly and finishing solutions business. Net of intercompany sales eliminations, revenue decreased approximately $700,000 compared to the prior year period.
Gross profit was approximately $35.4 million for the first quarter, essentially unchanged compared to the prior year period. However, gross margin increased by 90 basis points to 32.6% as compared to 31.7% in the prior year period. Gross margin improvement was attributable to higher margins in the Flooring Manufacturing segment due to improved efficiencies and favorable product mix, improved efficiencies in the Steel Manufacturing segment and favorable product mix in the Retail-Entertainment segment, partially offset by lower gross margins in the Retail-Flooring segment. Gross margin for the Retail-Flooring segment declined year-over-year, primarily due to a greater mix of aged inventory sold during the seasonally slower period.
General and administrative expense decreased approximately $2.2 million or 7.4% to approximately $27.8 million. The decrease was driven primarily by targeted cost reduction initiatives in our Retail-Flooring segment, including lower compensation and professional fee expenses. Sales and marketing expense decreased 10.4% to approximately $4.1 million, primarily reflecting lower compensation and product sample-related expenses in our Flooring Manufacturing segment.
Operating income increased approximately $2.7 million or 352.9% to $3.5 million for the first quarter compared with operating income of approximately $800,000 in the prior year period. The increase in operating income was primarily driven by higher gross margins and lower operating expenses in the Retail-Flooring, Flooring Manufacturing and Corporate and Other segment, reflecting targeted cost reduction initiatives. Interest expense decreased 14.4% to approximately $3.6 million. The decrease was primarily due to lower average debt balances as compared to the prior year period.
For the quarter ended December 31, 2025, net loss was approximately $100,000 and loss per share was $0.02 compared to net income of approximately $500,000 and diluted EPS of $0.16 in the prior year period. Net income for the prior year quarter includes a $2.8 million gain related to the settlement of the earn-out liability from the Precision Metal Works acquisition and a $700,000 gain from the settlement of PMW seller notes.
Adjusted EBITDA for the first quarter was approximately $7.8 million, an increase of approximately $2 million or 35.7% compared to $5.7 million in the prior year period. The increase in adjusted EBITDA was primarily driven by higher operating income.
Turning to liquidity. We ended the first quarter with total cash availability of $38.7 million, consisting of cash on hand of $15.1 million and availability under various lines of credit of $23.6 million. Our working capital was approximately $69.1 million as of December 31, 2025, compared to $62.1 million as of September 30, 2025. As of December 31, total assets were $389.2 million and total stockholders' equity was $95.3 million.
In conclusion, we delivered a solid first quarter marked by meaningful operating improvements across the businesses despite a still challenging housing market backdrop. To build on this momentum, we are rolling out a comprehensive strategy to integrate AI across the business units. By applying AI alongside robotics and data analytics, we are modernizing operations, improving efficiency across the organization and reinforcing the cost discipline that supports our long-term strategy.
We will now take questions from those of you on the conference call. Operator, please open the line for questions.
[Operator Instructions] David, we have no questions at this time. I'll turn it back over to you for any additional or closing comments.
We thank everyone for attending our Q1 conference call, and we look forward to speaking with you when we release our Q2 earnings. Thank you.
So that concludes our meeting today. You may now disconnect.
Live Ventures Inc — Q4 2025 Earnings Call
1. Management Discussion
Good day, everyone, and welcome to the Live Ventures Fiscal Year 2025 Conference Call. [Operator Instructions] Now I'll turn the call over to Greg Powell, Director of Investor Relations. Please go ahead, Greg.
Thank you, Elvis. Good afternoon, and welcome to the Live Ventures Fiscal Year 2025 Conference Call. Joining us this afternoon are Jon Isaac, our Chief Executive Officer and President; and David Verret, our Chief Financial Officer.
Some of the statements we are making today are forward-looking and are based on our best views of our businesses as we see them today. The actual results could differ materially due to a number of factors, including those outlined in our latest Forms 10-K and 10-Q as filed with the Securities and Exchange Commission. We have no obligation to publicly update any forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions or otherwise.
You can find a copy of our press release referenced on this call in the Investor Relations section of the Live Ventures website. I direct you to our website, liveventures.com or sec.gov for our historical SEC filings.
I'll now turn the call over to David to walk us through our financial performance.
Thank you, Greg. Good afternoon, everyone. Before discussing our financial results, I'd like to touch on a few key highlights from the year. We are pleased to report that our portfolio companies have spent the past year strengthening operating disciplines and optimizing their cost structures. Fiscal year 2025 marked a significant turnaround for Live Ventures. Decisive actions, including hiring a new executive team at Flooring Liquidators, implementing strategic pricing initiatives as well as targeted cost reduction measures drove our progress despite a mixed economy. These efforts contributed to a $10.2 million or 231.7% increase in operating income compared to the prior year when excluding the $18.1 million goodwill impairment recorded in fiscal year 2024.
Additionally, we reported adjusted EBITDA of $33.4 million, an $8.9 million or 36.3% increase compared to fiscal year 2024. This strong performance came despite continued softness in the new home construction and home refurbishment markets, which continue to weigh on our Retail-Flooring and Flooring Manufacturing segments.
Let's now discuss the financial results for the fiscal year ended September 30, 2025. Total revenue decreased approximately $27.9 million or 5.9% to approximately $444.9 million for the year ended September 30, 2025, compared to revenue of approximately $472.8 million in the prior year. The decrease is attributable to the Retail-Flooring, Flooring Manufacturing and Steel Manufacturing segments, which decreased by approximately $33.3 million in the aggregate, partially offset by an increase of approximately $6.5 million in the Retail-Entertainment segment. Although revenues declined in fiscal year 2025, we are pleased to report that fourth quarter showed year-over-year improvement with the fourth quarter of 2025 generating higher revenues than the fourth quarter of 2024.
Retail-Entertainment segment revenue for fiscal year 2025 was approximately $77.5 million, an increase of $6.5 million or 9.1% compared to the prior year. The revenue growth was driven by strong consumer demand for vintage and collectible media.
Retail-Flooring segment revenue for fiscal year 2025 was approximately $122.3 million, a decrease of $14.7 million or 10.7% compared to the prior year. The decrease was primarily attributable to the disposition of certain Johnson Floor and Home stores in May 2024 as well as decreased consumer demand driven by the ongoing weakness in the housing market.
Flooring Manufacturing segment revenue for fiscal year 2025 was approximately $121.6 million, a decrease of $11.5 million or 8.6% compared to the prior year. The decline in revenue was primarily due to reduced consumer demand as a result of the ongoing weakness in the housing market.
Steel Manufacturing segment revenue for fiscal year 2025 was approximately $132.6 million, a decrease of $7.2 million or 5.1% compared to the prior year. The decline was primarily driven by lower sales volumes at certain business units as we focus on higher-margin business, partially offset by incremental revenue of $11.1 million at Central Steel, which was acquired in May 2024. Despite the decline in revenues, gross profit for fiscal year 2025 increased approximately $900,000 to $145.7 million. Gross margin increased 210 basis points to 32.7% as compared to 30.6% in the prior year period. The improvement in gross profit was attributable to increased gross margins in the Retail-Entertainment, Steel Manufacturing and Flooring Manufacturing segments, primarily due to improved efficiencies as well as the acquisition of Central Steel in May 2024, which has historically generated higher margins, partially offset by slightly lower margins at the Retail-Flooring segment.
General and administrative expense decreased by approximately $4.3 million or 3.6% to $113.7 million. The decrease was mainly attributable to targeted cost reduction measures, including lower compensation, reduced professional fees and other expense reductions across the Retail-Flooring and Corporate and Other segments.
Selling and marketing expenses decreased by $5.1 million or 22.6% to $17.3 million. Selling and marketing expenses were lower in the Retail-Flooring and Flooring Manufacturing segment as we prioritize higher impact, more efficient marketing initiatives to ensure continued support for revenue growth. In connection with our continued efforts to strengthen the balance sheet, total debt declined approximately $33.5 million in fiscal year 2025, which includes a $19 million modification to the Flooring Liquidators seller note. As a result, interest expense decreased by approximately $1.3 million or 7.7% to $15.6 million.
For fiscal year 2025, net income was approximately $22.7 million and diluted EPS was $4.93, compared to a net loss of approximately $26.7 million and a loss per share of $8.48 in the prior year. The increase in net income reflects stronger operating performance and the additive benefit of onetime gains realized during fiscal year 2025. Net income for fiscal year 2025 includes onetime items totaling a net gain of $28.2 million, primarily consisting of a $22.8 million gain from the modification of the Flooring Liquidators seller notes, a $2.6 million net gain on earnout and holdback settlements and a $2.1 million gain related to employee retention credits. Net loss for fiscal year 2024 includes an $18.1 million goodwill impairment charge in the Retail-Flooring segment.
Adjusted EBITDA for fiscal year 2025 was approximately $33.4 million, an increase of approximately $8.9 million or 36.3% compared to $24.5 million in the prior year. The increase in adjusted EBITDA is primarily due to improved operating performance during fiscal year 2025, reflecting the company's targeted cost reduction initiatives.
Turning to liquidity. We ended the fiscal year with total cash availability of approximately $38.1 million, consisting of cash on hand of approximately $8.8 million and availability under various lines of credit of approximately $29.3 million. Our working capital was approximately $62.1 million as of September 30, 2025, compared to $52.3 million in the prior year. As of September 30, total assets were $386.4 million and total stockholders' equity was $95.3 million. As part of our capital allocation strategy, we may make share repurchases from time to time. We believe our stock repurchases represent long-term value for our stockholders. During the fiscal year ended September 30, 2025, we repurchased 59,704 shares of the company's common stock at an average price of $8.85 per share.
In conclusion, we are pleased with our results for fiscal year 2025. We are not just holding steady. We are building a durable platform of businesses that move and matter in the real economy. Throughout the year, we strengthened our operational discipline and improved our cost structure while navigating ongoing softness in the new home construction and home refurbishment markets. Our team executed well in a challenging environment and delivered solid margin improvements. Across our portfolio companies, our businesses are stronger, more efficient and more resilient than a year ago.
Looking ahead, we believe the actions taken this year position Live Ventures for continued progress as we focus on driving sustainable profitability and enhancing the overall performance of our businesses.
We will now take questions from those of you on the conference call. Operator, please open the line for questions.
[Operator Instructions]
Our first question today comes from Joseph Kowalsky of JD Financial Planners.
2. Question Answer
With regard to the shares that are repurchased, have you ever reissued shares either in conjunction with buying a company or otherwise? Or do you have some sort of a collar or price where you'd say this is a good price to buy shares, either PE or PEG or something like that. This is a good price to buy shares. This is a good place to issue shares? Do you do it strategically like that? That's my first question.
My second question is with regard to debt. Do you intend to pay down the debt entirely? Is there a certain debt level that you think might be reasonable to keep for the longer term? I don't know based on the interest rates, if it would make sense, but that's my second question.
And then my third question is, have the interest rate reductions benefited the company in any way? And I thank you very much. And I'll be quiet now.
Okay. So the first question is about issuance of shares. We may from time to time, we have in the past at least issued some shares in connection with acquisitions to help from a financing standpoint. And so I think it's going to be depending on kind of where we feel like the market is representative to our value of the company and whether that makes sense or not. We do kind of monitor kind of where our purchase levels are as far as what price we will execute the repurchase program. And it's somewhat fluid as we monitor again, kind of where the markets are relative to our price and our valuation.
And by the way, I'm sorry to interrupt, I said I'll be quiet, but I think your purchase -- average purchase price was excellent either way.
Yes. Yes, yes. And so -- and it can be fluid depending again on how the markets are and our valuation. So -- but we also see that it is a tool in a form of consideration that can be given in future acquisitions. So it's something that we evaluate as we're going through the acquisition process on cash, borrowing and stock. Those are kind of our levers.
With regards to the paydown of debt, yes, we're very excited about lowering our debt levels and we will continue to pay down that debt. There will be a point where once the debt gets to kind of a little more moderate level that we can evaluate where our money can be spent and provide the highest return for our shareholders, whether that is continuing to pay down debt or using that money in acquisitions and so forth. So again, that's going to be something that we'll evaluate as we go. But over this last year, one of the things that we focused on was really getting that debt level down.
And with regards to interest rates, we're excited. There's been, I guess, 3 rate cuts over the course of this year. So that will certainly improve or help us on our interest expense going forward. And also, there's the big beautiful bill, which I believe has also some relief on the interest rate deductions that you can take versus where we are today. So I think we see some positive things in nature of that even in the future. But yes, it has benefited us. And I think actually, the interest rates will also benefit us even more when that kind of trickles down into the housing market and really stimulate the housing sales and purchases as well as flooring remodels and things like that.
[Operator Instructions] We have no further questions at this time. Greg, I'll turn the program back over to you for any additional or closing comments.
Okay. I just want to thank everyone for joining us today. We were really proud of the year, and we look forward to delivering more results in the upcoming year. Thank you for joining us.
Thank you.
That concludes our meeting today. You may now disconnect.
Financial data from Live Ventures Inc
Revenue
Revenue is the sum of all sales generated by a company, e.g. for its products or services.
Revenue (TTM) metric explainedDirect Costs
Direct costs are the costs incurred directly in connection with the manufacture of the product or service.
Gross Profit
Gross Profit indicates how much of the revenue remains in the company after deducting direct production costs. If the percentage share of sales is calculated, this is referred to as the gross margin.
Gross Profit metric explainedSelling and Administrative Expenses
Selling, general and administrative expenses (SG&A) include all expenses for marketing and sales as well as the general administration of the company.
Research and Development Expense
Research and development costs (R&D) provide information on how much the company invests in the research and development of its products. The costs are particularly interesting as a percentage of revenue and in comparison to direct competitors.
EBITDA
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the company's earnings before interest, taxes, depreciation and amortization. The EBITDA margin is calculated as a percentage of sales.
Depreciation and Amortization
Depreciation represents reductions in the value of the company's assets (e.g. due to wear and tear on machinery).
EBIT (Operating Income)
EBIT (Earnings Before Interest and Taxes) is the company's profit before interest and taxes, also known as the operating income. The EBIT Margin is calculated as a percentage of sales at
.
Net Profit
Net Profit represents the profit or loss after deduction of all costs.
Net Profit metric explainedStocksGuide Premium
| Jun '26 |
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| Revenue | 434 434 |
2%
2%
100%
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| - Direct Costs | 290 290 |
3%
3%
67%
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| Gross Profit | 144 144 |
1%
1%
33%
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| - Selling and Administrative Expenses | 129 129 |
3%
3%
30%
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| - Research and Development Expense | - - |
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-
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| EBITDA | 30 30 |
3%
3%
7%
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|
| - Depreciation and Amortization | 16 16 |
12%
12%
4%
|
|
| EBIT (Operating Income) EBIT | 15 15 |
27%
27%
3%
|
|
| Net Profit | -2.57 -2.57 |
237%
237%
-1%
|
|
In millions USD.
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Live Ventures Inc Stock News
Company Profile
Live Ventures, Inc. engages in the provision of online marketing solutions for small and medium business. It operates through the following segments; Retail and Online, Manufacturing, and Services. The Retail and Online segment comprises of Vintage Stock, ApplianceSmart, Modern Everyday, and LiveDeal. The Manufacturing segment focuses on Marquis, which is its carpet, hard surface, and synthetic turf products business. The Services segment offers directory services business. The company was founded in 1968 and is headquartered in Las Vegas, NV.
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| Head office | United States |
| CEO | Mr. Isaac |
| Employees | 1,555 |
| Founded | 1968 |
| Website | www.liveventures.com |
