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)