Stockholders' equity: 
      Series E convertible 
      preferred stock, $0.001 
      par value, 200,000 
      shares authorized, 
      47,840 shares issued 
      and outstanding at 
      December 31, 2024 and 
      September 30, 2024, 
      with a liquidation 
      preference of $0.30 per 
      share outstanding                        --                   -- 
      Common stock, $0.001 
       par value, 10,000,000 
       shares authorized, 
       3,115,674 and 
       3,131,360 shares 
       issued and outstanding 
       at December 31, 2024 
       and September 30, 
       2024, respectively                       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 EBITDA(1) 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 
                              ====  =============      ===  ============ 
 

(END) Dow Jones Newswires

February 06, 2025 08:30 ET (13:30 GMT)