LAS VEGAS, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) ("Live Ventures" or the "Company"), a diversified holding company, today announced financial results for its fiscal year ended September 30, 2025.
Fiscal Year 2025 Key Highlights:
-- Revenue was $444.9 million, compared to $472.8 million in the prior year
-- Gross margin increased to 32.7%, compared to 30.6% in the prior year
-- Operating income increased $28.3 million to $14.6 million, compared to an
operating loss of $13.6 million in the prior year
-- Net income increased $49.4 million, or 185.2%, to $22.7 million, and
diluted earnings per share ("EPS") were $4.93, compared to a net loss of
$26.7 million and diluted loss per share of $8.48 in the prior year. Net
income for fiscal year 2025 includes a net gain of $28.2 million from
non-recurring items. Net loss for fiscal year 2024 included a goodwill
impairment charge of $18.1 million
-- Adjusted EBITDA(1) increased $8.9 million, or 36.3%, to $33.4 million,
compared to $24.5 million in the prior year
-- The Company repurchased 59,704 shares of the Company's common stock at an
average price of $8.85 per share
-- Total assets of $386.4 million and stockholders' equity of $95.3 million
as of September 30, 2025
-- Approximately $38.1 million in cash and availability under the Company's
credit facilities as of September 30, 2025
"We are pleased with the operational progress we delivered this year, which contributed to a $10.2 million, or 231.7%, increase in fiscal year 2025 operating income compared to the prior year, excluding the $18.1 million goodwill impairment recorded in fiscal year 2024. This performance came despite continued softness in the new home construction and home refurbishment markets, which continue to weigh on our Retail-Flooring and Flooring Manufacturing segments," commented David Verret, Chief Financial Officer of Live Ventures.
"Fiscal year 2025 marked a significant turnaround for Live Ventures. The progress we made was driven by decisive actions, including strategic pricing and targeted cost-reduction initiatives, resulting in a 36.3% increase in fiscal year 2025 Adjusted EBITDA(1) of $33.4 million, as compared to the prior year. We strengthened our operational discipline and improved our cost structure while navigating ongoing softness in new home construction and home refurbishment. Our team executed well in a challenging environment and delivered solid margin improvement. Looking ahead, we believe the actions taken this year position Live Ventures for continued progress as we focus on driving sustainable profitability and enhancing the overall performance of our businesses," 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.
Fiscal Year 2025 Financial Summary (in thousands except
per share amounts)
For the year ended September 30,
------------------------------------------
2025 2024 % Change
---------- --------- ----------
Revenue $ 444,944 $ 472,840 -5.9%
Operating income $ 14,635 $ (13,644) 207.3%
Net income (loss) $ 22,743 $ (26,685) 185.2%
Diluted earnings (loss) per
share $ 4.93 $ (8.48) 158.1%
Adjusted EBITDA(1) $ 33,390 $ 24,497 36.3%
Revenue decreased approximately $27.9 million, or 5.9%, to approximately $444.9 million for the year ended September 30, 2025, compared to revenue of approximately $472.8 million in the prior year. The decrease is primarily attributable to the Retail-Flooring, Flooring Manufacturing, and Steel Manufacturing segments, which decreased by approximately $33.3 million in the aggregate, partially offset by an increase of approximately $6.5 million in the Retail-Entertainment segment.
Gross profit increased by approximately $0.9 million, or 0.6%, for the year ended September 30, 2025, as compared to the year ended September 30, 2024. Gross margin increased by 210 basis points to 32.7%, as compared to 30.6% in the prior year. The gross margin improvement was attributable to increased gross margins in the Retail-Entertainment, Steel Manufacturing, and Flooring Manufacturing segments, primarily due to improved efficiencies, as well as the acquisition of Central Steel Fabricators ("Central Steel") during May 2024, which has historically generated higher margins, partially offset by slightly lower gross margins in the Retail-Flooring segment.
Operating income increased to approximately $14.6 million for the year ended September 30, 2025, compared with an operating loss of approximately $13.6 million in the prior year. Prior year operating loss included an $18.1 million goodwill impairment charge in the Retail-Flooring segment. Excluding the fiscal year 2024 goodwill impairment charge, fiscal year 2025 operating income increased $10.2 million, or 231.7%, as compared to the prior year. The increase in operating income was primarily driven by higher revenues in the Retail-Entertainment segment and lower operating expenses in the Retail-Flooring, Flooring Manufacturing, and Corporate and Other segments, reflecting targeted cost-reduction initiatives, partially offset by higher general and administrative expenses in the Steel Manufacturing segment, reflecting a full year of Central Steel expenses following its acquisition in May 2024.
For the fiscal year ended September 30, 2025, net income was approximately $22.7 million, and diluted EPS was $4.93, compared with a net loss of approximately $26.7 million and diluted loss per share of $8.48 in the prior year. Net income increased primarily due to improved operating performance and the recognition of one-time gains during the fiscal year ended September 30, 2025. Net income for fiscal 2025 includes one-time items totaling a net gain of $28.2 million, primarily consisting of a $22.8 million gain from the modification of the Flooring Liquidators, Inc. seller note, earnout and holdback settlement gains of $2.6 million (net), and a $2.1 million gain related to Employee Retention Credits. Net loss for fiscal year 2024 includes an $18.1 million goodwill impairment charge in the Retail-Flooring segment.
Adjusted EBITDA(1) for the fiscal year ended September 30, 2025, was approximately $33.4 million, an increase of approximately $8.9 million, or 36.3%, compared to $24.5 million in the prior year. The increase in Adjusted EBITDA(1) is primarily due to improved operating performance during the fiscal year ended September 30, 2025, reflecting the Company's targeted cost-reduction initiatives.
As of September 30, 2025, the Company had total cash availability of approximately $38.1 million, consisting of cash on hand of approximately $8.8 million and availability under its various lines of credit of approximately $29.3 million.
Fiscal Year 2025 Segment Results (in thousands)
For the year ended September 30,
---------------------------------------------
2025 2024 % Change
--- --------- -------- ----------
Revenue
Retail - Entertainment $ 77,519 $ 71,023 9.1%
Retail - Flooring 122,308 136,989 -10.7%
Flooring Manufacturing 121,574 133,026 -8.6%
Steel Manufacturing 132,593 139,768 -5.1%
Corporate & Other 78 333 -76.6%
Intercompany eliminations (9,128) (8,299) N/A
--- --------- -------- ----------
Total Revenue $ 444,944 $ 472,840 -5.9%
--- --------- --------
For the year ended September 30,
---------------------------------------------
2025 2024 % Change
--- --------- -------- ----------
Operating Income (loss)
Retail - Entertainment $ 10,666 $ 7,177 48.6%
Retail - Flooring (7,714) (25,520) 69.8%
Flooring Manufacturing 7,212 8,205 -12.1%
Steel Manufacturing 8,539 4,611 85.2%
Corporate & Other (4,239) (8,125) 47.8%
Intercompany eliminations 171 8 N/A
--- --------- -------- ----------
Total Operating Income $ 14,635 $ (13,644) 207.3%
--- --------- --------
For the year ended September 30,
---------------------------------------------
2025 2024 % Change
--- --------- -------- ----------
Adjusted EBITDA(1)
Retail - Entertainment $ 11,877 $ 8,407 41.3%
Retail - Flooring (2,102) (1,608) -30.7%
Flooring Manufacturing 11,055 12,433 -11.1%
Steel Manufacturing 16,191 12,466 29.9%
Corporate & Other (3,802) (7,209) 47.3%
Intercompany eliminations 171 8 N/A
--- --------- -------- ----------
Total Adjusted
EBITDA(1) $ 33,390 $ 24,497 36.3%
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