Live Ventures Reports Fiscal Second Quarter 2026 Financial Results
Rhea-AI Summary
Live Ventures (Nasdaq: LIVE) reported fiscal Q2 2026 revenue of $102.9 million, down 3.8% year over year. Gross margin rose 80 bps to 33.6%. The company posted a $2.0 million operating loss and a $2.4 million net loss, including a ~$4.0 million non-cash goodwill impairment in Steel Manufacturing.
Adjusted EBITDA was $5.9 million, down 8.8%. For the first six months, revenue was $211.4 million (-3.2%), net loss $2.5 million, and Adjusted EBITDA $13.7 million (+12.2%). Cash and availability under credit facilities totaled approximately $39.8 million.
AI-generated analysis. Not financial advice.
Positive
- Gross margin increased 80 bps to 33.6% in Q2 2026
- Retail-Entertainment Q2 revenue grew 14.8% to $21.2 million
- Retail-Entertainment Q2 Adjusted EBITDA rose 28.1% to $3.5 million
- Flooring Manufacturing Q2 operating income increased to $2.0 million from $1.6 million
- Six-month FY 2026 Adjusted EBITDA grew 12.2% to $13.7 million
- Total cash and availability reached approximately $39.8 million at March 31, 2026
Negative
- Q2 2026 revenue declined 3.8% year over year to $102.9 million
- Q2 operating loss of $2.0 million versus prior-year operating income of $2.1 million
- Q2 net result shifted to a $2.4 million loss from $15.9 million income
- Retail-Flooring Q2 revenue fell 26.2% to $20.2 million
- Retail-Flooring Q2 operating loss widened to $4.6 million
- Steel segment recorded a $4.0 million non-cash goodwill impairment, driving an operating loss
- Q2 Adjusted EBITDA decreased 8.8% to $5.9 million
News Market Reaction – LIVE
On the day this news was published, LIVE declined 25.53%, reflecting a significant negative market reaction. Argus tracked a trough of -25.1% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $13M from the company's valuation, bringing the market cap to $38.97M at that time. Trading volume was very high at 4.0x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LIVE’s pre-news gain of 2.46% contrasts with mixed peer action: KIRK up 3.11%, HVT roughly flat at 0.10%, while NHTC and RECT are down 6.23% and 1.46%. Momentum scanner shows a mix of up and down moves across retail names, pointing to stock-specific rather than sector-driven dynamics.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Q1 2026 earnings | Positive | -4.0% | Margin expansion and Adjusted EBITDA growth despite a small net loss. |
| Dec 11 | FY 2025 results | Positive | +19.8% | Revenue dip but higher margins, return to operating profit, strong EBITDA. |
| Aug 07 | Q3 2025 earnings | Positive | -2.2% | Sharp operating income and EBITDA gains despite revenue decline. |
| May 08 | Q2 2025 earnings | Positive | +49.7% | Improved operating income plus a large seller note modification gain. |
| Feb 06 | Q1 2025 earnings | Neutral | -2.6% | Mixed quarter with modest net income and lower Adjusted EBITDA. |
Earnings releases for LIVE have often produced sizable but directionally inconsistent moves, with positive operational updates not always translating into gains.
Over the last five earnings-related releases from Feb 2025 through Feb 2026, Live Ventures has shown a pattern of revenue pressure but steady margin and EBITDA improvement. Fiscal 2025 results highlighted a swing to $14.6M operating income and $22.7M net income aided by $28.2M of one‑time gains. Subsequent quarters, including Q1 2026, emphasized higher gross margins and stronger Adjusted EBITDA despite modest net losses. Today’s Q2 2026 report continues that theme of resilient profitability metrics amid housing-related headwinds.
Historical Comparison
Across the last five earnings releases, LIVE’s average move was 12.14%, showing that quarterly results have historically triggered sizable stock reactions.
Earnings releases from FY 2025 through Q1 2026 show revenue softness but consistent gross margin and Adjusted EBITDA improvement, aided at times by one‑time gains.
Market Pulse Summary
The stock dropped -25.5% in the session following this news. A negative reaction despite operational improvements would fit prior patterns where earnings with better margins but noisy one-time items drew selling. Q2 2026 featured a $2.0M operating loss driven by a $4.0M goodwill impairment and weaker Retail-Flooring revenue, even as gross margin rose to 33.6%. History shows that complexity from gains and charges can overshadow Adjusted EBITDA of $5.9M and $39.8M in cash availability.
Key Terms
goodwill impairment financial
adjusted ebitda financial
basis points financial
non-gaap financial
employee retention credits financial
AI-generated analysis. Not financial advice.
LAS VEGAS, May 14, 2026 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today announced financial results for its fiscal second quarter ended March 31, 2026.
Fiscal Second Quarter 2026 Key Highlights:
- Revenue was
$102.9 million , compared to$107.0 million in the prior-year period - Gross margin increased 80 basis points to
33.6% , compared to32.8% in the prior-year period - Operating loss was
$2.0 million , compared to operating income of$2.1 million in the prior-year period.- Excluding a non-cash goodwill impairment charge of approximately
$4.0 million in the Steel Manufacturing segment, the fiscal second quarter 2026 operating income would have been approximately$2.0 million
- Excluding a non-cash goodwill impairment charge of approximately
- Net loss was
$2.4 million and diluted loss per share was$0.80 , compared to net income of$15.9 million and diluted earnings per share (“EPS”) of$5.05 in the prior-year period.- Current-year period results include a non-cash goodwill impairment charge of approximately
$4.0 million in the Steel Manufacturing segment and a$1.4 million gain on Employee Retention Credits in the Retail-Flooring segment. - Prior-year period results benefited from a
$22.8 million gain related to the modification of the Flooring Liquidators, Inc. (“Flooring Liquidators”) seller note
- Current-year period results include a non-cash goodwill impairment charge of approximately
- Adjusted EBITDA¹ was
$5.9 million , compared to$6.4 million in the prior-year period - Total assets were
$392.5 million , and stockholders’ equity was$92.9 million as of March 31, 2026 - Approximately
$39.8 million in cash and availability under the Company’s credit facilities as of March 31, 2026
“Our Retail-Entertainment and Flooring Manufacturing segments delivered strong operating income growth of
“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,” commented Jon Isaac, President and Chief Executive Officer of Live Ventures.
1 Adjusted EBITDA is a non-GAAP measure. A reconciliation of the non-GAAP measures is included below.
| Second Quarter Fiscal Year 2026 Financial Summary (in thousands except per share amounts) | |||||||||
| For the three months ended March 31, | |||||||||
| 2026 | 2025 | % Change | |||||||
| Revenue | $ | 102,899 | $ | 107,013 | -3.8 | % | |||
| Gross profit | $ | 34,580 | $ | 35,148 | -1.6 | % | |||
| Operating (loss) income | $ | (2,009 | ) | $ | 2,092 | N/A | |||
| Net (loss) income | $ | (2,448 | ) | $ | 15,866 | N/A | |||
| Diluted (loss) earnings per share | $ | (0.80 | ) | $ | 5.05 | N/A | |||
| Adjusted EBITDA¹ | $ | 5,878 | $ | 6,446 | -8.8 | % | |||
Revenue decreased approximately
Gross profit decreased approximately
Operating loss was
For the quarter ended March 31, 2026, net loss was approximately
Adjusted EBITDA¹ for the quarter ended March 31, 2026, was approximately
As of March 31, 2026, the Company had total cash availability of approximately
Second Quarter Fiscal Year 2026 Segment Results (in thousands)
| For the three months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Revenue | ||||||||||
| Retail - Entertainment | $ | 21,205 | $ | 18,467 | 14.8 | % | ||||
| Retail - Flooring | 20,208 | 27,399 | -26.2 | % | ||||||
| Flooring Manufacturing | 30,285 | 31,283 | -3.2 | % | ||||||
| Steel Manufacturing | 32,545 | 31,487 | 3.4 | % | ||||||
| Corporate & Other | 4 | 6 | -33.3 | % | ||||||
| Intercompany eliminations | (1,348 | ) | (1,629 | ) | N/A | |||||
| Total Revenue | $ | 102,899 | $ | 107,013 | -3.8 | % | ||||
| For the three months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Operating (loss) income | ||||||||||
| Retail - Entertainment | $ | 3,317 | $ | 2,498 | 32.8 | % | ||||
| Retail - Flooring | (4,599 | ) | (2,741 | ) | -67.8 | % | ||||
| Flooring Manufacturing | 1,968 | 1,587 | 24.0 | % | ||||||
| Steel Manufacturing | (1,674 | ) | 2,185 | N/A | ||||||
| Corporate & Other | (935 | ) | (1,344 | ) | 30.4 | % | ||||
| Intercompany eliminations | (86 | ) | (93 | ) | N/A | |||||
| Total Operating (loss) Income | $ | (2,009 | ) | $ | 2,092 | N/A | ||||
| For the three months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Adjusted EBITDA¹ | ||||||||||
| Retail - Entertainment | $ | 3,529 | $ | 2,755 | 28.1 | % | ||||
| Retail - Flooring | (3,232 | ) | (1,591 | ) | -103.1 | % | ||||
| Flooring Manufacturing | 2,917 | 2,526 | 15.5 | % | ||||||
| Steel Manufacturing | 3,681 | 4,080 | -9.8 | % | ||||||
| Corporate & Other | (931 | ) | (1,231 | ) | 24.4 | % | ||||
| Intercompany eliminations | (86 | ) | (93 | ) | N/A | |||||
| Total Adjusted EBITDA¹ | $ | 5,878 | $ | 6,446 | -8.8 | % | ||||
| For the three months ended March 31, | ||||||||||
| 2026 | 2025 | |||||||||
| Adjusted EBITDA¹ as a percentage of revenue | ||||||||||
| Retail - Entertainment | 16.6 | % | 14.9 | % | ||||||
| Retail - Flooring | -16.0 | % | -5.8 | % | ||||||
| Flooring Manufacturing | 9.6 | % | 8.1 | % | ||||||
| Steel Manufacturing | 11.3 | % | 13.0 | % | ||||||
| Corporate & Other | N/A | N/A | ||||||||
| Intercompany eliminations | N/A | N/A | ||||||||
| Total Adjusted EBITDA¹ | 5.7 | % | 6.0 | % | ||||||
| as a percentage of revenue | ||||||||||
Retail – Entertainment
Retail-Entertainment segment revenue for the quarter ended March 31, 2026 was
Retail – Flooring
Retail-Flooring segment revenue for the quarter ended March 31, 2026 was
Flooring Manufacturing
Flooring Manufacturing segment revenue for the quarter ended March 31, 2026 was
Steel Manufacturing
Steel Manufacturing segment revenue for the quarter ended March 31, 2026 was
Corporate and Other
Corporate and Other segment operating loss was
| Six Months FY 2026 Financial Summary (in thousands except per share amounts) | |||||||||
| For the six months ended March 31, | |||||||||
| 2026 | 2025 | % Change | |||||||
| Revenue | $ | 211,443 | $ | 218,521 | -3.2 | % | |||
| Gross profit | $ | 69,933 | $ | 70,510 | -0.8 | % | |||
| Operating income | $ | 1,442 | $ | 2,854 | -49.5 | % | |||
| Net income (loss) | $ | (2,512 | ) | $ | 16,358 | N/A | |||
| Diluted earnings (loss) per share | $ | (0.82 | ) | $ | 5.20 | N/A | |||
| Adjusted EBITDA¹ | $ | 13,673 | $ | 12,191 | 12.2 | % | |||
Revenue decreased approximately
Gross profit decreased by approximately
Operating income decreased
For the six months ended March 31, 2026, net loss was approximately
Adjusted EBITDA¹ for the six months ended March 31, 2026, was approximately
Six Months FY 2026 Segment Results (in thousands)
| For the six months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Revenue | ||||||||||
| Retail - Entertainment | $ | 44,826 | $ | 39,740 | 12.8 | % | ||||
| Retail - Flooring | 45,535 | 59,146 | -23.0 | % | ||||||
| Flooring Manufacturing | 59,146 | 60,451 | -2.2 | % | ||||||
| Steel Manufacturing | 64,406 | 64,774 | -0.6 | % | ||||||
| Corporate & Other | 11 | 62 | -82.3 | % | ||||||
| Intercompany eliminations | (2,481 | ) | (5,652 | ) | N/A | |||||
| Total Revenue | $ | 211,443 | $ | 218,521 | -3.2 | % | ||||
| For the six months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Operating (loss) Income | ||||||||||
| Retail - Entertainment | $ | 7,983 | $ | 5,905 | 35.2 | % | ||||
| Retail - Flooring | (8,287 | ) | (4,914 | ) | 68.6 | % | ||||
| Flooring Manufacturing | 4,294 | 2,237 | 92.0 | % | ||||||
| Steel Manufacturing | (53 | ) | 3,386 | N/A | ||||||
| Corporate & Other | (2,109 | ) | (2,900 | ) | 27.3 | % | ||||
| Intercompany eliminations | (386 | ) | (860 | ) | N/A | |||||
| Total Operating Income | $ | 1,442 | $ | 2,854 | -49.5 | % | ||||
| For the six months ended March 31, | ||||||||||
| 2026 | 2025 | % Change | ||||||||
| Adjusted EBITDA¹ | ||||||||||
| Retail - Entertainment | $ | 8,496 | $ | 6,565 | 29.4 | % | ||||
| Retail - Flooring | (5,533 | ) | (2,374 | ) | -133.1 | % | ||||
| Flooring Manufacturing | 6,192 | 4,159 | 48.9 | % | ||||||
| Steel Manufacturing | 6,996 | 7,267 | -3.7 | % | ||||||
| Corporate & Other | (2,092 | ) | (2,566 | ) | 18.5 | % | ||||
| Intercompany eliminations | (386 | ) | (860 | ) | N/A | |||||
| Total Adjusted EBITDA¹ | $ | 13,673 | $ | 12,191 | 12.2 | % | ||||
| For the six months ended March 31, | ||||||||||
| 2026 | 2025 | |||||||||
| Adjusted EBITDA¹ as a percentage of revenue | ||||||||||
| Retail - Entertainment | 19.0 | % | 16.5 | % | ||||||
| Retail - Flooring | -12.2 | % | -4.0 | % | ||||||
| Flooring Manufacturing | 10.5 | % | 6.9 | % | ||||||
| Steel Manufacturing | 10.9 | % | 11.2 | % | ||||||
| Corporate & Other | N/A | N/A | ||||||||
| Intercompany eliminations | N/A | N/A | ||||||||
| Total Adjusted EBITDA¹ | 6.5 | % | 5.6 | % | ||||||
| as a percentage of revenue | ||||||||||
Retail – Entertainment
Retail-Entertainment segment revenue for the six months ended March 31, 2026 was
Retail – Flooring
Retail Flooring segment revenue for the six months ended March 31, 2026 was
Flooring Manufacturing
Flooring Manufacturing segment revenue for the six months ended March 31, 2026 was
Steel Manufacturing
Steel Manufacturing segment revenue for the six months ended March 31, 2026 was
Corporate and Other
Corporate and Other segment operating loss was
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) | |||||||
| March 31, 2026 | September 30, 2025 | ||||||
| (Unaudited) | |||||||
| Assets | |||||||
| Cash | $ | 15,173 | $ | 8,831 | |||
| Trade receivables, net of allowance for doubtful accounts of | 39,062 | 39,947 | |||||
| Inventories, net | 121,643 | 120,716 | |||||
| Income taxes receivable | 259 | — | |||||
| Prepaid expenses and other current assets | 3,195 | 3,568 | |||||
| Total current assets | 179,332 | 173,062 | |||||
| Property and equipment, net | 75,437 | 77,511 | |||||
| Right of use asset - operating leases | 61,531 | 53,097 | |||||
| Deposits and other assets | 1,504 | 1,498 | |||||
| Intangible assets, net | 17,568 | 20,080 | |||||
| Goodwill | 57,139 | 61,152 | |||||
| Total assets | $ | 392,511 | $ | 386,400 | |||
| Liabilities and Stockholders' Equity | |||||||
| Liabilities: | |||||||
| Accounts payable | $ | 27,411 | $ | 27,369 | |||
| Accrued liabilities | 30,904 | 31,834 | |||||
| Income taxes payable | — | 2,334 | |||||
| Current portion of lease obligations - operating leases | 12,439 | 11,495 | |||||
| Current portion of lease obligations - finance leases | 591 | 573 | |||||
| Current portion of long-term debt | 32,473 | 36,282 | |||||
| Current portion of notes payable - related parties | 800 | 800 | |||||
| Current portion of seller notes - related parties | 275 | 275 | |||||
| Total current liabilities | 104,893 | 110,962 | |||||
| Long-term debt, net of current portion | 50,254 | 41,880 | |||||
| Lease obligation long term - operating leases | 54,693 | 46,375 | |||||
| Lease obligation long term - finance leases | 42,293 | 42,269 | |||||
| Notes payable - related parties, net of current portion | 20,588 | 18,564 | |||||
| Seller notes - related parties | 17,961 | 17,945 | |||||
| Deferred tax liability | 6,156 | 9,156 | |||||
| Other non-current obligations | 2,781 | 3,945 | |||||
| Total liabilities | 299,619 | 291,096 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity: | |||||||
| Series E convertible preferred stock, | — | — | |||||
| Common stock, | 2 | 2 | |||||
| Paid in capital | 75,948 | 75,848 | |||||
| Treasury stock common 754,391 shares as of March 31, 2026 and September 30, 2025 | (9,600 | ) | (9,600 | ) | |||
| Treasury stock Series E preferred 80,000 shares as of March 31, 2026 and September 30, 2025 | (7 | ) | (7 | ) | |||
| Retained earnings | 26,549 | 29,061 | |||||
| Total stockholders' equity | 92,892 | 95,304 | |||||
| Total liabilities and stockholders' equity | $ | 392,511 | $ | 386,400 | |||
| LIVE VENTURES, INCORPORATED CONSOLIDATED STATEMENTS OF INCOME (dollars in thousands, except per share) | |||||||||||||||
| For the Three Months Ended March 31, | For the Six Months Ended March 31, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | $ | 102,899 | $ | 107,013 | $ | 211,443 | $ | 218,521 | |||||||
| Cost of revenue | 68,319 | 71,865 | 141,510 | 148,011 | |||||||||||
| Gross profit | 34,580 | 35,148 | 69,933 | 70,510 | |||||||||||
| Operating expenses: | |||||||||||||||
| General and administrative expenses | 27,681 | 28,321 | 55,523 | 58,392 | |||||||||||
| Sales and marketing expenses | 4,895 | 4,735 | 8,955 | 9,264 | |||||||||||
| Impairment expense | 4,013 | — | 4,013 | — | |||||||||||
| Total operating expenses | 36,589 | 33,056 | 68,491 | 67,656 | |||||||||||
| Operating income (loss) | (2,009 | ) | 2,092 | 1,442 | 2,854 | ||||||||||
| Other expense: | |||||||||||||||
| Interest expense, net | (3,892 | ) | (3,933 | ) | (7,453 | ) | (8,095 | ) | |||||||
| Gain on extinguishment of debt | — | — | — | 713 | |||||||||||
| Gain on settlement of earnout liability | — | — | — | 2,840 | |||||||||||
| Employee Retention Credit | 1,400 | — | 1,400 | — | |||||||||||
| Gain on modification of seller note | — | 22,784 | — | 22,784 | |||||||||||
| Other income | (94 | ) | 160 | (73 | ) | 580 | |||||||||
| Total other income (expense), net | (2,586 | ) | 19,011 | (6,126 | ) | 18,822 | |||||||||
| Income (loss) before provision for income taxes | (4,595 | ) | 21,103 | (4,684 | ) | 21,676 | |||||||||
| Provision for (benefit from) income taxes | (2,147 | ) | 5,237 | (2,172 | ) | 5,318 | |||||||||
| Net income (loss) | $ | (2,448 | ) | $ | 15,866 | $ | (2,512 | ) | $ | 16,358 | |||||
| Income (loss) per share: | |||||||||||||||
| Basic | $ | (0.80 | ) | $ | 5.10 | $ | (0.82 | ) | $ | 5.25 | |||||
| Diluted | $ | (0.80 | ) | $ | 5.05 | $ | (0.82 | ) | $ | 5.20 | |||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 3,071,656 | 3,109,362 | 3,071,656 | 3,113,864 | |||||||||||
| Diluted | 3,071,656 | 3,138,711 | 3,071,656 | 3,143,213 | |||||||||||
| 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 | For the Six Months Ended | ||||||||||||||
| March 31, 2026 | March 31, 2025 | March 31, 2026 | March 31, 2025 | ||||||||||||
| Net income (loss) | $ | (2,448 | ) | $ | 15,866 | $ | (2,512 | ) | $ | 16,358 | |||||
| Depreciation and amortization | 3,920 | 4,401 | 7,846 | 8,816 | |||||||||||
| Stock-based compensation | 49 | 49 | 100 | 100 | |||||||||||
| Interest expense, net | 3,892 | 3,933 | 7,453 | 8,095 | |||||||||||
| Income tax expense (benefit) | (2,147 | ) | 5,237 | (2,172 | ) | 5,318 | |||||||||
| Gain on extinguishment of debt | — | — | — | (713 | ) | ||||||||||
| Gain on modification of seller note | — | (22,784 | ) | — | (22,784 | ) | |||||||||
| Gain on settlement of earnout liability | — | — | — | (2,840 | ) | ||||||||||
| Impairment of goodwill | 4,013 | — | 4,013 | — | |||||||||||
| Employee Retention Credit | (1,400 | ) | — | (1,400 | ) | — | |||||||||
| Debt acquisition costs | — | — | 59 | — | |||||||||||
| Other non-recurring charges | (1 | ) | (256 | ) | 286 | (159 | ) | ||||||||
| Adjusted EBITDA | $ | 5,878 | $ | 6,446 | $ | 13,673 | $ | 12,191 | |||||||
