Live Ventures Reports Fiscal First Quarter 2026 Financial Results
Rhea-AI Summary
Live Ventures (Nasdaq: LIVE) reported fiscal Q1 2026 results for the quarter ended December 31, 2025. Revenue was $108.5M, gross margin rose to 32.6%, and operating income increased 352.9% to $3.5M. Adjusted EBITDA improved 35.7% to $7.8M. Cash availability totaled ~$38.7M and the company completed a $47.0M refinancing for its Steel Manufacturing segment.
Results included a small net loss of $0.1M (diluted loss per share $0.02) versus prior-year net income influenced by non-recurring gains.
Positive
- Operating income increased 352.9% to $3.5 million
- Adjusted EBITDA rose 35.7% to $7.8 million
- Gross margin improved by 90 basis points to 32.6%
- Completed $47.0 million refinancing for Steel Manufacturing
- Total cash availability approximately $38.7 million
Negative
- Revenue declined 2.7% to $108.5 million
- Net loss of $0.1 million (diluted loss per share $0.02) versus prior-year net income
- Retail-Flooring revenue fell 20.2% to $25.3 million with a $3.7 million operating loss
Key Figures
Market Reality Check
Peers on Argus
Pre-earnings, LIVE rose 1.56% with mixed moves among peers: KIRK up 3.11%, RECT up 5.48%, while HVT and NHTC fell -2.77% and -4.45%. This pattern points to stock-specific drivers rather than a broad home-improvement retail move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 11 | Annual results | Positive | +19.8% | Fiscal 2025 margin expansion, positive net income and higher Adjusted EBITDA. |
| Aug 07 | Quarterly earnings | Positive | -2.2% | Q3 2025 strong profitability gains despite revenue decline and housing headwinds. |
| May 08 | Quarterly earnings | Positive | +49.7% | Q2 2025 operating income improvement and large gain from seller note reduction. |
| Feb 06 | Quarterly earnings | Positive | -2.6% | Q1 2025 profit versus prior loss, supported by PMW-related one-time gains. |
| Dec 12 | Annual results | Negative | -1.9% | Fiscal 2024 net loss, goodwill impairment and lower Adjusted EBITDA despite growth. |
Earnings releases have often produced sizable moves, with several strong positive reactions when margin expansion and cost reductions are highlighted.
Over the last five earnings reports, Live Ventures has emphasized margin expansion, cost controls, and balance sheet actions. Fiscal 2024 showed higher revenue but a sizable net loss, followed by fiscal 2025 where gross margin rose and operating income turned positive with substantial one-time gains. Subsequent 2025 quarters featured revenue headwinds but improving profitability and liquidity. Today’s fiscal Q1 2026 results continue the theme of operating improvement and Adjusted EBITDA growth alongside revenue pressure in housing-exposed segments.
Historical Comparison
In the past year, LIVE posted 5 earnings updates with an average move of 12.56%, often reacting strongly to margin and cost-structure shifts.
Earnings releases show a progression from FY2024 losses and impairments to FY2025 margin recovery and positive net income, followed by 2025 quarters with ongoing cost optimization and liquidity focus.
Market Pulse Summary
This announcement highlights modest revenue decline but notable margin and operating income improvement, with Adjusted EBITDA rising to $7.8M and gross margin at 32.6%. Segment details show strength in Retail-Entertainment and Flooring Manufacturing, offset by Retail-Flooring softness tied to housing conditions. Historically, Live Ventures’ earnings have featured a mix of cost reductions, one-time gains, and balance sheet actions, so monitoring recurring profitability, housing trends, and execution of AI-driven efficiency initiatives remains important.
Key Terms
adjusted ebitda financial
non-gaap financial measure financial
stock-based compensation financial
generally accepted accounting principles regulatory
earnout liability financial
seller notes financial
AI-generated analysis. Not financial advice.
LAS VEGAS, Feb. 12, 2026 (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 ended December 31, 2025.
Fiscal First Quarter 2026 Key Highlights:
- Revenue was
$108.5 million , compared to$111.5 million in the prior-year period - Gross margin increased to
32.6% , compared to31.7% in the prior-year period - Operating income increased
$2.7 million , or352.9% , to$3.5 million , compared to$0.8 million in the prior-year period - Net loss was
$0.1 million and diluted loss per share was$0.02 , compared to net income of$0.5 million and diluted earnings per share (“EPS”) of$0.16 in the prior-year period. Net income for the prior-year period includes a net gain of$3.6 million from non-recurring items - Adjusted EBITDA¹ increased
$2.0 million , or35.7% , to$7.8 million , compared to$5.7 million in the prior-year period - Total assets of
$389.2 million and stockholders’ equity of$95.3 million as of December 31, 2025 - Approximately
$38.7 million in cash and availability under the Company’s credit facilities as of December 31, 2025 - Successfully completed a
$47.0 million refinancing for the Steel Manufacturing segment, providing additional lending capacity
“We are pleased with the continued operational progress during the quarter, which contributed to a
“We delivered a solid quarter marked by meaningful operating improvements across the businesses, despite a still-challenging housing backdrop. The
| First Quarter Fiscal Year 2026 Financial Summary (in thousands except per share amounts) | ||||||||||
| For the three months ended December 31, | ||||||||||
| 2025 | 2024 | % Change | ||||||||
| Revenue | $ | 108,544 | $ | 111,508 | -2.7 | % | ||||
| Gross profit | $ | 35,353 | $ | 35,362 | 0.0 | % | ||||
| Operating income | $ | 3,451 | $ | 762 | 352.9 | % | ||||
| Net (loss) income | $ | (64 | ) | $ | 492 | N/A | ||||
| Diluted (loss) earnings per share | $ | (0.02 | ) | $ | 0.16 | N/A | ||||
| Adjusted EBITDA¹ | $ | 7,792 | $ | 5,744 | 35.7 | % | ||||
Revenue decreased approximately
Gross profit was approximately
Operating income increased approximately
For the quarter ended December 31, 2025, net loss was approximately
Adjusted EBITDA¹ for the quarter ended December 31, 2025, was approximately
As of December 31, 2025, the Company had total cash availability of approximately
First Quarter Fiscal Year 2026 Segment Results (in thousands)
| For the three months ended December 31, | |||||||||||
| 2025 | 2024 | % Change | |||||||||
| Revenue | |||||||||||
| Retail - Entertainment | $ | 23,621 | $ | 21,274 | 11.0 | % | |||||
| Retail - Flooring | 25,327 | 31,747 | -20.2 | % | |||||||
| Flooring Manufacturing | 28,861 | 29,168 | -1.1 | % | |||||||
| Steel Manufacturing | 31,862 | 33,287 | -4.3 | % | |||||||
| Corporate & Other | 7 | 56 | -87.5 | % | |||||||
| Intercompany eliminations | (1,134 | ) | (4,024 | ) | N/A | ||||||
| Total Revenue | $ | 108,544 | $ | 111,508 | -2.7 | % | |||||
| For the three months ended December 31, | |||||||||||
| 2025 | 2024 | % Change | |||||||||
| Operating (loss) income | |||||||||||
| Retail - Entertainment | $ | 4,666 | $ | 3,407 | 37.0 | % | |||||
| Retail - Flooring | (3,688 | ) | (2,173 | ) | -69.7 | % | |||||
| Flooring Manufacturing | 2,325 | 651 | 257.1 | % | |||||||
| Steel Manufacturing | 1,620 | 1,202 | 34.8 | % | |||||||
| Corporate & Other | (1,172 | ) | (1,557 | ) | 24.7 | % | |||||
| Intercompany eliminations | (300 | ) | (768 | ) | N/A | ||||||
| Total Operating Income | $ | 3,451 | $ | 762 | 352.9 | % | |||||
| For the three months ended December 31, | |||||||||||
| 2025 | 2024 | % Change | |||||||||
| Adjusted EBITDA¹ | |||||||||||
| Retail - Entertainment | $ | 4,967 | $ | 3,810 | 30.4 | % | |||||
| Retail - Flooring | (2,301 | ) | (783 | ) | -193.9 | % | |||||
| Flooring Manufacturing | 3,275 | 1,633 | 100.6 | % | |||||||
| Steel Manufacturing | 3,314 | 3,187 | 4.0 | % | |||||||
| Corporate & Other | (1,163 | ) | (1,334 | ) | 12.8 | ||||||
| Intercompany eliminations | (300 | ) | (769 | ) | N/A | ||||||
| Total Adjusted EBITDA¹ | $ | 7,792 | $ | 5,744 | 35.7 | % | |||||
| For the three months ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Adjusted EBITDA¹ as a percentage of revenue | |||||||||||
| Retail - Entertainment | 21.0 | % | 17.9 | % | |||||||
| Retail - Flooring | -9.1 | % | -2.5 | % | |||||||
| Flooring Manufacturing | 11.3 | % | 5.6 | % | |||||||
| Steel Manufacturing | 10.4 | % | 9.6 | % | |||||||
| Corporate & Other | N/A | N/A | |||||||||
| Intercompany eliminations | N/A | N/A | |||||||||
| Total Adjusted EBITDA¹ | 7.2 | % | 5.2 | % | |||||||
| as a percentage of revenue | |||||||||||
Retail – Entertainment
The Retail-Entertainment segment revenue for the quarter ended December 31, 2025, was approximately
Retail – Flooring
Retail Flooring segment revenue for the quarter ended December 31, 2025, was approximately
Flooring Manufacturing
The Flooring Manufacturing segment revenue for the quarter ended December 31, 2025, was approximately
Steel Manufacturing
The Steel Manufacturing segment revenue for the quarter ended December 31, 2025, was approximately
Corporate and Other
The Corporate and Other segment operating loss 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 filed with 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 and directors 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, 2025. 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 seeks 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 (dollars in thousands, except per share amounts) | ||||||||
| December 31, 2025 | September 30, 2025 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Cash | $ | 15,133 | $ | 8,831 | ||||
| Trade receivables, net of allowance for doubtful accounts of | 34,197 | 39,947 | ||||||
| Inventories, net | 118,212 | 120,716 | ||||||
| Prepaid expenses and other current assets | 3,326 | 3,568 | ||||||
| Total current assets | 170,868 | 173,062 | ||||||
| Property and equipment, net | 76,178 | 77,511 | ||||||
| Right of use asset - operating leases | 60,746 | 53,097 | ||||||
| Deposits and other assets | 1,456 | 1,498 | ||||||
| Intangible assets, net | 18,824 | 20,080 | ||||||
| Goodwill | 61,152 | 61,152 | ||||||
| Total assets | $ | 389,224 | $ | 386,400 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Liabilities: | ||||||||
| Accounts payable | $ | 27,355 | $ | 27,369 | ||||
| Accrued liabilities | 27,543 | 31,834 | ||||||
| Income taxes payable | 2,780 | 2,334 | ||||||
| Current portion of lease obligations - operating leases | 11,490 | 11,495 | ||||||
| Current portion of lease obligations - finance leases | 581 | 573 | ||||||
| Current portion of long-term debt | 30,901 | 36,282 | ||||||
| Current portion of notes payable related parties | 800 | 800 | ||||||
| Seller notes - related parties | 275 | 275 | ||||||
| Total current liabilities | 101,725 | 110,962 | ||||||
| Long-term debt, net of current portion, and unamortized debt issuance costs | 45,919 | 41,880 | ||||||
| Lease obligation long term - operating leases, net of current portion | 54,439 | 46,375 | ||||||
| Lease obligation long term - finance leases, net of current portion | 42,279 | 42,269 | ||||||
| Notes payable related parties, net of current portion | 18,954 | 18,564 | ||||||
| Seller notes - related parties | 17,953 | 17,945 | ||||||
| Deferred tax liability, net | 8,685 | 9,156 | ||||||
| Other non-current obligations | 3,979 | 3,945 | ||||||
| Total liabilities | 293,933 | 291,096 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders' equity: | ||||||||
| Series E convertible preferred stock, | — | — | ||||||
| Common stock, | 2 | 2 | ||||||
| Paid in capital | 75,899 | 75,848 | ||||||
| Treasury stock common 754,391 shares as of December 31, 2025 and September 30, 2025 | (9,600 | ) | (9,600 | ) | ||||
| Treasury stock Series E preferred 80,000 shares as of December 31, 2025 and September 30, 2025 | (7 | ) | (7 | ) | ||||
| Retained earnings | 28,997 | 29,061 | ||||||
| Total stockholders' equity | 95,291 | 95,304 | ||||||
| Total liabilities and stockholders' equity | $ | 389,224 | $ | 386,400 | ||||
| LIVE VENTURES, INCORPORATED CONSOLIDATED STATEMENTS OF INCOME (dollars in thousands, except per share) | ||||||||
| For the Three Months Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue | $ | 108,544 | $ | 111,508 | ||||
| Cost of revenue | 73,191 | 76,146 | ||||||
| Gross profit | 35,353 | 35,362 | ||||||
| Operating expenses: | ||||||||
| General and administrative expenses | 27,842 | 30,071 | ||||||
| Sales and marketing expenses | 4,060 | 4,529 | ||||||
| Total operating expenses | 31,902 | 34,600 | ||||||
| Operating income | 3,451 | 762 | ||||||
| Other expense: | ||||||||
| Interest expense, net | (3,561 | ) | (4,162 | ) | ||||
| Gain on extinguishment of debt | — | 713 | ||||||
| Gain on settlement of earnout liability | — | 2,840 | ||||||
| Other income | 21 | 420 | ||||||
| Total other expense, net | (3,540 | ) | (189 | ) | ||||
| (Loss) income before provision for income taxes | (89 | ) | 573 | |||||
| (Benefit) provision for income taxes | (25 | ) | 81 | |||||
| Net (loss) income | $ | (64 | ) | $ | 492 | |||
| (Loss) income per share: | ||||||||
| Basic | $ | (0.02 | ) | $ | 0.16 | |||
| Diluted | $ | (0.02 | ) | $ | 0.16 | |||
| Weighted average common shares outstanding: | ||||||||
| Basic | 3,071,656 | 3,124,581 | ||||||
| Diluted | 3,071,656 | 3,124,820 | ||||||
| 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, 2025 | December 31, 2024 | |||||||
| Net income (loss) | $ | (64 | ) | $ | 492 | |||
| Depreciation and amortization | 3,926 | 4,415 | ||||||
| Stock-based compensation | 51 | 51 | ||||||
| Interest expense, net | 3,561 | 4,162 | ||||||
| Income tax (benefit) expense | (25 | ) | 81 | |||||
| Debt issuance costs | 59 | — | ||||||
| Gain on extinguishment of debt | — | (713 | ) | |||||
| Gain on settlement of earnout liability | — | (2,840 | ) | |||||
| Other nonrecurring charges | 284 | 96 | ||||||
| Adjusted EBITDA | $ | 7,792 | $ | 5,744 | ||||
FAQ
What were Live Ventures (LIVE) fiscal Q1 2026 revenue and net income figures?
How did Live Ventures (LIVE) Adjusted EBITDA perform in Q1 2026?
What caused the revenue decline at Live Ventures (LIVE) in Q1 2026?
What material balance sheet actions did Live Ventures (LIVE) take in Q1 2026?
How did segment results affect Live Ventures (LIVE) operating income in Q1 2026?
What issues weighed on Live Ventures (LIVE) Retail‑Flooring results in Q1 2026?
