Live Ventures Reports Fiscal First Quarter 2025 Financial Results
Live Ventures (NASDAQ: LIVE) reported its fiscal Q1 2025 results with revenue of $111.5 million, down 5.2% from $117.6 million in the prior year. The company posted net income of $0.5 million and diluted EPS of $0.16, compared to a net loss of $0.7 million and loss per share of $0.22 in the previous year.
The quarter included a $2.8 million gain from the PMW earnout liability settlement and a $0.7 million gain from PMW seller notes settlement. Adjusted EBITDA decreased 33.9% to $5.7 million. The company maintained strong liquidity with $31.1 million in total cash availability.
While Retail-Entertainment and Steel Manufacturing segments showed improved operating performance, high interest rates and housing market slowdown negatively impacted the Retail-Flooring and Flooring Manufacturing segments due to reduced consumer demand.
Live Ventures (NASDAQ: LIVE) ha riportato i risultati fiscali del Q1 2025 con un fatturato di 111,5 milioni di dollari, in calo del 5,2% rispetto ai 117,6 milioni di dollari dell'anno precedente. L'azienda ha registrato un reddito netto di 0,5 milioni di dollari e un utile per azione diluito di 0,16 dollari, rispetto a una perdita netta di 0,7 milioni di dollari e una perdita per azione di 0,22 dollari nell'anno precedente.
Il trimestre ha incluso un guadagno di 2,8 milioni di dollari dalla risoluzione della responsabilità earnout PMW e un guadagno di 0,7 milioni di dollari dalla risoluzione delle note di vendita PMW. L'EBITDA rettificato è diminuito del 33,9% a 5,7 milioni di dollari. L'azienda ha mantenuto una forte liquidità con 31,1 milioni di dollari di disponibilità totale in contante.
Se i segmenti Retail-Entertainment e Steel Manufacturing hanno mostrato un miglioramento nelle prestazioni operative, alte percentuali di interesse e un rallentamento del mercato immobiliare hanno avuto un impatto negativo sui segmenti Retail-Flooring e Flooring Manufacturing a causa della riduzione della domanda dei consumatori.
Live Ventures (NASDAQ: LIVE) reportó sus resultados fiscales del Q1 2025 con ingresos de 111,5 millones de dólares, una disminución del 5,2% desde los 117,6 millones de dólares del año anterior. La compañía reportó una ganancia neta de 0,5 millones de dólares y un EPS diluido de 0,16 dólares, en comparación con una pérdida neta de 0,7 millones de dólares y una pérdida por acción de 0,22 dólares en el año anterior.
El trimestre incluyó una ganancia de 2,8 millones de dólares de la liquidación de la responsabilidad de earnout de PMW y una ganancia de 0,7 millones de dólares de la liquidación de notas del vendedor de PMW. El EBITDA ajustado disminuyó un 33,9% a 5,7 millones de dólares. La compañía mantuvo una sólida liquidez con 31,1 millones de dólares en disponibilidad total de efectivo.
Si bien los segmentos de Retail-Entertainment y Steel Manufacturing mostraron una mejora en el desempeño operativo, las altas tasas de interés y la desaceleración del mercado de la vivienda impactaron negativamente los segmentos de Retail-Flooring y Flooring Manufacturing debido a la disminución de la demanda del consumidor.
라이브 벤처스 (NASDAQ: LIVE)가 2025 회계년도 1분기 실적을 발표하며 1억 1150만 달러의 매출을 기록했습니다. 이는 지난해 1억 1760만 달러에서 5.2% 감소한 수치입니다. 회사는 50만 달러의 순이익과 주당 0.16 달러의 희석 주당순이익(EPS)을 기록했으며, 지난해에는 70만 달러의 순손실과 0.22 달러의 손실을 기록했습니다.
이번 분기에는 PMW 이연 보상 책임 세출에서 280만 달러의 이익과 PMW 판매자 노트 세출에서 70만 달러의 이익이 포함되었습니다. 조정된 EBITDA는 33.9% 감소한 570만 달러로 나타났습니다. 회사는 3110만 달러의 총 현금 유로로 강력한 유동성을 유지했습니다.
소매-오락 및 강철 제조 부문이 운영 성과가 개선된 반면, 높은 금리와 주택 시장의 둔화가 소매-바닥재 및 바닥재 제조 부문에 부정적인 영향을 미쳤습니다. 이는 소비자 수요 감소에 기인합니다.
Live Ventures (NASDAQ: LIVE) a annoncé ses résultats financiers pour le premier trimestre 2025 avec des revenus de 111,5 millions de dollars, en baisse de 5,2 % par rapport à 117,6 millions de dollars l'année précédente. L'entreprise a enregistré un bénéfice net de 0,5 million de dollars et un BPA dilué de 0,16 dollar, contre une perte nette de 0,7 million de dollars et une perte par action de 0,22 dollar l'année précédente.
Ce trimestre a inclus un gain de 2,8 millions de dollars provenant de la liquidation de la responsabilité de earnout PMW et un gain de 0,7 million de dollars provenant de la liquidation des notes de vendeur PMW. L'EBITDA ajusté a diminué de 33,9 % pour atteindre 5,7 millions de dollars. L'entreprise a maintenu une forte liquidité avec 31,1 millions de dollars de disponibilité totale de liquidités.
Bien que les segments Retail-Entertainment et Steel Manufacturing aient montré une amélioration de la performance opérationnelle, les taux d'intérêt élevés et le ralentissement du marché immobilier ont eu un impact négatif sur les segments Retail-Flooring et Flooring Manufacturing en raison de la baisse de la demande des consommateurs.
Live Ventures (NASDAQ: LIVE) berichtete über die finanziellen Ergebnisse für das 1. Quartal 2025 mit einem Umsatzerlös von 111,5 Millionen Dollar, was einem Rückgang von 5,2% gegenüber 117,6 Millionen Dollar im Vorjahr entspricht. Das Unternehmen verzeichnete einen Nettogewinn von 0,5 Millionen Dollar und einen verwässerten Gewinn pro Aktie von 0,16 Dollar, verglichen mit einem Nettverlust von 0,7 Millionen Dollar und einem Verlust pro Aktie von 0,22 Dollar im Vorjahr.
Im Quartal war ein Gewinn von 2,8 Millionen Dollar aus der Begleichung von PMW-Durchführungsverpflichtungen sowie ein Gewinn von 0,7 Millionen Dollar aus der Begleichung von PMW-Verkäufernoten enthalten. Das bereinigte EBITDA sank um 33,9% auf 5,7 Millionen Dollar. Das Unternehmen hielt eine starke Liquidity mit 31,1 Millionen Dollar an Gesamtkassenbeständen.
Während die Segmente Einzelhandel-Unterhaltung und Stahlproduktion eine verbesserte operative Leistung zeigten, hatten hohe Zinsen und eine Verlangsamung des Immobilienmarktes negative Auswirkungen auf die Segmente Einzelhandels-Bodenbelag und Bodenbelagsherstellung aufgrund der sinkenden Verbrauchernachfrage.
- Net income improved to $0.5M from -$0.7M loss year-over-year
- Retail-Entertainment segment revenue increased 3.3% to $21.3M
- Steel Manufacturing operating income grew 18.7% to $1.2M
- $31.1M total cash availability as of December 31, 2024
- One-time gains of $3.5M from PMW-related settlements
- Revenue declined 5.2% to $111.5M year-over-year
- Operating income decreased 78.5% to $0.8M
- Adjusted EBITDA fell 33.9% to $5.7M
- Retail-Flooring segment reported $2.2M operating loss vs $0.1M profit last year
- Flooring Manufacturing revenue dropped 11.1% to $26.0M
Insights
Live Ventures' Q1 FY2025 results reveal significant operational challenges beneath surface-level improvements. While the $0.5M net income appears positive compared to last year's loss, this was primarily driven by $3.5M in non-operational gains from PMW-related settlements. Excluding these one-time items, the core business performance shows concerning trends.
The company's operating income declined dramatically to $0.8M, a 78.5% decrease, while Adjusted EBITDA fell 33.9% to $5.7M. The deterioration in operating performance is particularly evident in the Flooring segments, with Retail-Flooring swinging from a $0.1M profit to a $2.2M loss. The segment's negative 3.1% EBITDA margin signals serious profitability challenges.
Two bright spots emerge: The Retail-Entertainment segment showed resilience with a 3.3% revenue growth and improved margins, while Steel Manufacturing maintained stable performance despite revenue decline, achieving better gross margins through strategic pricing. The company maintains adequate liquidity with $31.1M in total cash availability, providing some buffer against operational challenges.
The divergent segment performance suggests a need for strategic reassessment of the flooring business, which is facing both cyclical (high interest rates, housing slowdown) and operational challenges. The reliance on non-operational gains to achieve profitability raises concerns about sustainable earnings quality.
LAS VEGAS, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today announced financial results for its fiscal first quarter 2025 ended December 31, 2024.
Fiscal First Quarter 2025 Key Highlights:
- Revenue was
$111.5 million , compared to$117.6 million in the prior year period - Net income was
$0.5 million and diluted earnings per share (“EPS”) was$0.16 , compared to the prior year period net loss of$0.7 million and loss per share of$0.22 . Net income for the first quarter 2025 includes a$2.8 million gain on the settlement of the earnout liability related to the Precision Metal Works, Inc. (“PMW”) acquisition and a$0.7 million gain on the settlement of PMW seller notes - Adjusted EBITDA¹ was
$5.7 million , compared to$8.7 million in the prior year period - Total assets of
$395.5 million and stockholders’ equity of$73.3 million as of December 31, 2024 - Approximately
$31.1 million of cash and availability under the Company’s credit facilities as of December 31, 2024
“Both our Retail-Entertainment and Steel Manufacturing segments delivered improved operating performance in the first quarter, with increases in operating income and operating margins as compared to the prior year period. However, high interest rates and a slowdown in the housing market continued to impact our Retail-Flooring and Flooring Manufacturing segments, as reduced consumer demand weighed on performance,” commented David Verret, Chief Financial Officer of Live Ventures.
“We are pleased with the operating improvements achieved in our Retail-Entertainment and Steel Manufacturing segments during the first quarter. That said, industry-specific headwinds are impacting our Retail-Flooring and Flooring Manufacturing segments. To address this, we are implementing additional measures to enhance the efficiency of our flooring businesses,” stated Jon Isaac, President and Chief Executive Officer of Live Ventures. “Despite these challenges, we remain confident in the long-term strength of our businesses.”
| First Quarter FY 2025 Financial Summary (in thousands except per share amounts) | |||||||||
| For the three months ended December 31, | |||||||||
| 2024 | 2023 | % Change | |||||||
| Revenue | $ | 111,508 | $ | 117,593 | -5.2 | % | |||
| Operating income | $ | 762 | $ | 3,541 | -78.5 | % | |||
| Net income (loss) | $ | 492 | $ | (682 | ) | 172.1 | % | ||
| Diluted earnings (loss) per share | $ | 0.16 | $ | (0.22 | ) | 172.7 | % | ||
| Adjusted EBITDA¹ | $ | 5,744 | $ | 8,696 | -33.9 | % | |||
Revenue decreased approximately
Operating income was approximately
For the quarter ended December 31, 2024, net income was approximately
Adjusted EBITDA¹ for the quarter ended December 31, 2024 was approximately
As of December 31, 2024, the Company had total cash availability of
First Quarter FY 2025 Segment Results (in thousands)
| For the three months ended December 31, | ||||||||||
| 2024 | 2023 | % Change | ||||||||
| Revenue | ||||||||||
| Retail - Entertainment | $ | 21,273 | $ | 20,586 | 3.3 | % | ||||
| Retail - Flooring | 31,747 | 34,319 | -7.5 | % | ||||||
| Flooring Manufacturing | 25,996 | 29,245 | -11.1 | % | ||||||
| Steel Manufacturing | 32,435 | 33,354 | -2.8 | % | ||||||
| Corporate & Other | 57 | 89 | -36.0 | % | ||||||
| Total Revenue | $ | 111,508 | $ | 117,593 | -5.2 | % | ||||
| For the three months ended December 31, | ||||||||||
| 2024 | 2023 | % Change | ||||||||
| Operating Income (loss) | ||||||||||
| Retail - Entertainment | $ | 3,408 | $ | 3,143 | 8.4 | % | ||||
| Retail - Flooring | (2,174 | ) | 90 | N/A | ||||||
| Flooring Manufacturing | (81 | ) | 945 | -108.6 | % | |||||
| Steel Manufacturing | 1,166 | 982 | 18.7 | % | ||||||
| Corporate & Other | (1,557 | ) | (1,619 | ) | 3.8 | % | ||||
| Total Operating Income | $ | 762 | $ | 3,541 | -78.5 | % | ||||
| For the three months ended December 31, | ||||||||||
| 2024 | 2023 | % Change | ||||||||
| Adjusted EBITDA¹ | ||||||||||
| Retail - Entertainment | $ | 3,810 | $ | 3,667 | 3.9 | % | ||||
| Retail - Flooring | (971 | ) | $ | 1,303 | -174.5 | % | ||||
| Flooring Manufacturing | 750 | 1,877 | -60.0 | % | ||||||
| Steel Manufacturing | 2,801 | 2,802 | 0.0 | % | ||||||
| Corporate & Other | (646 | ) | (953 | ) | 32.2 | % | ||||
| Total Adjusted EBITDA¹ | $ | 5,744 | $ | 8,696 | -33.9 | % | ||||
| Adjusted EBITDA¹ as a percentage of revenue | ||||||||||
| Retail - Entertainment | 17.9 | % | 17.8 | % | ||||||
| Retail - Flooring | -3.1 | % | 3.8 | % | ||||||
| Flooring Manufacturing | 2.9 | % | 6.4 | % | ||||||
| Steel Manufacturing | 8.6 | % | 8.4 | % | ||||||
| Corporate & Other | N/A | N/A | ||||||||
| Total Adjusted EBITDA¹ | 5.2 | % | 7.4 | % | ||||||
| as a percentage of revenue | ||||||||||
Retail – Entertainment
Retail-Entertainment segment revenue for the quarter ended December 31, 2024 was approximately
Retail – Flooring
The Retail-Flooring segment revenue for the quarter ended December 31, 2024, was approximately
Flooring Manufacturing
Revenue for the quarter ended December 31, 2024 was approximately
Steel Manufacturing
Revenue for the quarter ended December 31, 2024 was approximately
Corporate and Other
Revenue for the quarter ended December 31, 2024 was approximately
Non-GAAP Financial Information
Adjusted EBITDA
We evaluate the performance of our operations based on financial measures, such as “Adjusted EBITDA,” which is a non-GAAP financial measure. We define Adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation, amortization, stock-based compensation, and other non-cash or nonrecurring charges. We believe that Adjusted EBITDA is an important indicator of the operational strength and performance of the business, including the business’s ability to fund acquisitions and other capital expenditures and to service its debt. Additionally, this measure is used by management to evaluate operating results and perform analytical comparisons and identify strategies to improve performance. Adjusted EBITDA is also a measure that is customarily used by financial analysts to evaluate a company’s financial performance, subject to certain adjustments. Adjusted EBITDA does not represent cash flows from operations, as defined by generally accepted accounting principles (“GAAP”), should not be construed as an alternative to net income or loss, and is indicative neither of our results of operations, nor of cash flow available to fund our cash needs. It is, however, a measurement that the Company believes is useful to investors in analyzing its operating performance. Accordingly, Adjusted EBITDA should be considered in addition to, but not as a substitute for, net income, cash flow provided by operating activities, and other measures of financial performance prepared in accordance with GAAP. As companies often define non-GAAP financial measures differently, Adjusted EBITDA, as calculated by Live Ventures Incorporated, should not be compared to any similarly titled measures reported by other companies.
Forward-Looking and Cautionary Statements
The use of the word “Company” refers to Live Ventures and its wholly owned subsidiaries. Certain statements in this press release contain or may suggest “forward-looking” information within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” created by those sections. Words such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements are intended to identify forward-looking statements. Live Ventures may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 10-K and 10-Q, Current Reports on Form 8-K, in its annual report to stockholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024. Additionally, new risk factors emerge from time to time, and it is not possible for us to predict all such risk factors, or to assess the impact such risk factors might have on our business. Live Ventures undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
About Live Ventures Incorporated
Live Ventures is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Ventures’ acquisition strategy is sector-agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation. The Company looks for opportunities to partner with management teams of its acquired businesses to build increased stockholder value through a disciplined buy-build-hold long-term focused strategy. Live Ventures was founded in 1968. In late 2011, Jon Isaac, Chief Executive Officer and strategic investor, joined the Company's Board of Directors and later refocused it into a diversified holding company. The Company’s current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, and entertainment industries.
Contact:
Live Ventures Incorporated
Greg Powell, Director of Investor Relations
725.500.5597
gpowell@liveventures.com
www.liveventures.com
Source: Live Ventures Incorporated
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(dollars in thousands, except per share amounts)
| December 31, 2024 | September 30, 2024 | ||||||
| (Unaudited) | |||||||
| Assets | |||||||
| Cash | $ | 7,407 | $ | 4,601 | |||
| Trade receivables, net of allowance for doubtful accounts of | 38,040 | 46,861 | |||||
| Inventories, net | 123,389 | 126,350 | |||||
| Prepaid expenses and other current assets | 3,594 | 4,123 | |||||
| Total current assets | 172,430 | 181,935 | |||||
| Property and equipment, net | 81,527 | 82,869 | |||||
| Right of use asset - operating leases | 55,113 | 55,701 | |||||
| Deposits and other assets | 1,455 | 787 | |||||
| Intangible assets, net | 23,847 | 25,103 | |||||
| Goodwill | 61,152 | 61,152 | |||||
| Total assets | $ | 395,524 | $ | 407,547 | |||
| Liabilities and Stockholders' Equity | |||||||
| Liabilities: | |||||||
| Accounts payable | $ | 28,478 | $ | 31,002 | |||
| Accrued liabilities | 30,548 | 31,740 | |||||
| Income taxes payable | 1,483 | 948 | |||||
| Current portion of lease obligations - operating leases | 13,219 | 12,885 | |||||
| Current portion of lease obligations - finance leases | 467 | 368 | |||||
| Current portion of long-term debt | 39,595 | 43,816 | |||||
| Current portion of notes payable related parties | 7,670 | 6,400 | |||||
| Seller notes - related parties | — | 2,500 | |||||
| Total current liabilities | 121,460 | 129,659 | |||||
| Long-term debt, net of current portion | 54,339 | 54,994 | |||||
| Lease obligation long term - operating leases | 46,566 | 50,111 | |||||
| Lease obligation long term - finance leases | 42,200 | 41,677 | |||||
| Notes payable related parties, net of current portion | 6,871 | 4,934 | |||||
| Seller notes - related parties | 41,119 | 40,361 | |||||
| Deferred tax liability, net | 5,812 | 6,267 | |||||
| Other non-current obligations | 3,882 | 6,655 | |||||
| Total liabilities | 322,249 | 334,658 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity: | |||||||
| Series E convertible preferred stock, | — | — | |||||
| Common stock, | 2 | 2 | |||||
| Paid in capital | 69,743 | 69,692 | |||||
| Treasury stock common 710,373 and 694,687 shares as of December 31, 2024 and September 30, 2024, respectively | (9,229 | ) | (9,072 | ) | |||
| Treasury stock Series E preferred 80,000 shares as of December 31, 2024 and September 30, 2024 | (7 | ) | (7 | ) | |||
| Retained earnings | 12,766 | 12,274 | |||||
| Total stockholders' equity | 73,275 | 72,889 | |||||
| Total liabilities and stockholders' equity | $ | 395,524 | $ | 407,547 | |||
LIVE VENTURES, INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands, except per share)
| For the Three Months Ended December 31, | |||||||
| 2024 | 2023 | ||||||
| Revenue | $ | 111,508 | $ | 117,593 | |||
| Cost of revenue | 76,146 | 81,266 | |||||
| Gross profit | 35,362 | 36,327 | |||||
| Operating expenses: | |||||||
| General and administrative expenses | 30,071 | 27,679 | |||||
| Sales and marketing expenses | 4,529 | 5,107 | |||||
| Total operating expenses | 34,600 | 32,786 | |||||
| Operating income | 762 | 3,541 | |||||
| Other expense: | |||||||
| Interest expense, net | (4,162 | ) | (4,163 | ) | |||
| Gain on settlement of seller notes | 713 | — | |||||
| Gain on settlement of earnout liability | 2,840 | — | |||||
| Other income (expense) | 420 | (284 | ) | ||||
| Total other expense, net | (189 | ) | (4,447 | ) | |||
| Income (loss) before provision for income taxes | 573 | (906 | ) | ||||
| Provision (benefit) for income taxes | 81 | (224 | ) | ||||
| Net Income (loss) | $ | 492 | $ | (682 | ) | ||
| Income (loss) per share: | |||||||
| Basic and diluted | $ | 0.16 | $ | (0.22 | ) | ||
| Weighted average common shares outstanding: | |||||||
| Basic | 3,124,581 | 3,163,541 | |||||
| Diluted | 3,124,820 | 3,163,541 | |||||
LIVE VENTURES INCORPORATED
NON-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 | |||||||
| December 31, 2024 | December 31, 2023 | ||||||
| Net income (loss) | $ | 492 | $ | (682 | ) | ||
| Depreciation and amortization | 4,415 | 4,295 | |||||
| Stock-based compensation | 50 | 50 | |||||
| Interest expense, net | 4,162 | 4,163 | |||||
| Income tax expense (benefit) | 81 | (224 | ) | ||||
| Debt refinancing costs | — | 183 | |||||
| Gain on extinguishment of debt | (713 | ) | — | ||||
| Gain on write-off of earnout | (2,840 | ) | — | ||||
| Acquisition costs | 97 | 406 | |||||
| Adjusted EBITDA | $ | 5,744 | $ | 8,696 | |||
FAQ
What was Live Ventures (LIVE) revenue in Q1 2025?
How much did LIVE stock earn per share in Q1 2025?
What was Live Ventures' cash position as of December 31, 2024?
Which segments of Live Ventures showed improved performance in Q1 2025?
What factors negatively impacted LIVE's flooring segments in Q1 2025?
