Quarterly report [Sections 13 or 15(d)]

Segment Reporting

v3.25.4
Segment Reporting
 3 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Live Ventures Incorporated is a diversified holding company that acquires and operates businesses across industries with a demonstrated history of earnings power. In accordance with ASC 280, Segment Reporting, the Company has identified four reportable segments: Retail-Entertainment, Retail-Flooring, Flooring Manufacturing, and Steel Manufacturing. This segmentation reflects how the Chief Operating Decision Maker (“CODM”), consisting of the Company’s Chief Executive Officer and Chief Financial Officer, evaluates financial performance and allocates resources across the Company’s operations. The Corporate and Other segment does not meet the criteria to be presented as a reportable segment under ASC 280.
The CODM regularly evaluates segment performance using revenue, gross profit, gross profit margin, income (loss) before income taxes, and Adjusted Earnings Before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”). These measures are used to allocate the Company’s resources and assess operating effectiveness.
Adjusted EBITDA is a non-GAAP financial measure defined as net income (loss) before interest expense, interest income, income taxes, depreciation, amortization, stock-based compensation, and other non-cash or nonrecurring charges. The CODM considers Adjusted EBITDA a key indicator of the Company’s operational strength and performance, including its ability to fund acquisitions, support capital expenditures, and service debt. It is used to evaluate operating results, perform analytical comparisons, and identify strategies to improve performance.
To preserve the integrity of each operating segment’s standalone financial results, all intercompany eliminations, including sales, cost of goods sold, inventory profit, and intercompany management fees are reported under Intercompany Eliminations. Total assets are not utilized by the CODM in evaluating segment performance or allocating resources. Accordingly, asset information is excluded from the Company’s segment reporting disclosures. Discrete financial information is provided for each reportable segment, including comparisons of actual results to the prior period and current period forecast.
The following is a description of each of the Company’s reportable segments:
•The Retail–Entertainment segment, which includes Vintage Stock, offers a wide range of entertainment products, both new and pre-owned, including movies, video games, and music. It also sells ancillary items such as books, comics, toys, and collectibles, all within a single retail footprint.
•The Retail–Flooring segment, which includes Flooring Liquidators, operates 25 warehouse-format stores and a design center across four states. It serves as a leading retailer and installer of flooring, carpeting, and countertops for consumers, builders, and contractors in California and Nevada.
•The Flooring Manufacturing segment, which includes Marquis, is a vertically integrated manufacturer and distributor of carpet and hard surface flooring products, serving residential, niche commercial, and hospitality end markets.
•The Steel Manufacturing segment includes:
•Precision Marshall, which supplies over 500 steel distributors with Deluxe Alloy Plate, Deluxe Tool Steel Plate, Precision Ground Flat Stock, and Drill Rod.
•Kinetic, a recognized brand in industrial knives and hardened wear products for the tissue, metals, and wood industries, offering in-house grinding, machining, and heat-treating capabilities.
•PMW, which provides metal forming, assembly, and finishing solutions across industries such as appliance, automotive, hardware, electrical, electronics, and medical devices.
•Central Steel, which manufactures specialized fabricated metal products primarily for data centers, including cable racks, auxiliary framing, hardware, insulation products, and network bays.
This segmentation aligns with the internal reporting structure used by the CODM to evaluate performance and guide strategic decision-making. The CODM does not review any measures of significant segment expenses beyond those reflected in the tables below (in $000’s):
Three Months Ended December 31, 2025 Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Revenue
 $ 23,621  $ 25,327  $ 28,861  $ 31,862  $ 109,671  $ 7  $ (1,134) $ 108,544 
Cost of revenue
 10,048  17,301  21,636  25,514  74,499  5  (1,313) 73,191 
Gross profit
 13,573  8,026  7,225  6,348  35,172  2  179  35,353 
Gross profit percentage
 57.5% 31.7% 25.0% 19.9% 32.1% —% —% 32.6%
Operating expenses:
General and administrative expenses
 8,732  11,483  1,383  4,597  26,195  1,168  479  27,842 
Sales and marketing expenses
 175  231  3,517  131  4,054  6  —  4,060 
Total operating expenses
 8,907  11,714  4,900  4,728  30,249  1,174  479  31,902 
Operating income (loss) 4,666  (3,688) 2,325  1,620  4,923  (1,172) (300) $ 3,451 
Other income (expense):
Interest expense, net 11  (904) (938) (1,229) (3,060) (501) —  (3,561)
Other income (expense), net 22  38  9  (53) 16  5  —  21 
Total income (expense), net 33  (866) (929) (1,282) (3,044) (496) —  (3,540)
Income (loss) before income taxes $ 4,699  $ (4,554) $ 1,396  $ 338  $ 1,879  $ (1,668) $ (300) $ (89)
Adjusted EBITDA Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Income (loss) before income taxes $ 4,699  $ (4,554) $ 1,396  $ 338  $ 1,879  $ (1,668) $ (300) $ (89)
Interest expense, net (11) 904  938  1,229  3,060  501  —  3,561 
Depreciation and amortization 279  1,299  941  1,403  3,922  4  —  3,926 
Other adjustments —  50  —  344  394  —  —  394 
Adjusted EBITDA $ 4,967  $ (2,301) $ 3,275  $ 3,314  $ 9,255  $ (1,163) $ (300) $ 7,792 
Three Months Ended December 31, 2024 Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Revenue
 $ 21,274  $ 31,747  $ 29,168  $ 33,287  $ 115,476  $ 56  $ (4,024) $ 111,508 
Cost of revenue
 9,230  19,944  22,913  27,310  79,397  5  (3,256) 76,146 
Gross profit
 12,044  11,803  6,255  5,977  36,079  51  (768) 35,362 
Gross profit percentage
 56.6% 37.2% 21.4% 18.0% 31.2% —% —% 31.7%
Operating expenses:
General and administrative expenses
 8,480  13,709  1,634  4,646  28,469  1,602  —  30,071 
Sales and marketing expenses
 157  267  3,970  129  4,523  6  —  4,529 
Total operating expenses
 8,637  13,976  5,604  4,775  32,992  1,608  —  34,600 
Operating income (loss) 3,407  (2,173) 651  1,202  3,087  (1,557) (768) $ 762 
Other income (expense):
Interest expense, net (39) (1,320) (1,115) (1,457) (3,931) (231) —  (4,162)
Other income, net 150  26  47  3,532  3,755  218  —  3,973 
Total income (expense), net 111  (1,294) (1,068) 2,075  (176) (13) —  (189)
Income (loss) before income taxes $ 3,518  $ (3,467) $ (417) $ 3,277  $ 2,911  $ (1,570) $ (768) $ 573 
Adjusted EBITDA Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Income (loss) before income taxes $ 3,518  $ (3,467) $ (417) $ 3,277  $ 2,911  $ (1,570) $ (768) $ 573 
Interest expense, net 39  1,320  1,115  1,457  3,931  231  —  4,162 
Depreciation and amortization 253  1,314  935  1,909  4,411  5  (1) 4,415 
Other adjustments —  50  —  (3,456) (3,406) —  —  (3,406)
Adjusted EBITDA $ 3,810  $ (783) $ 1,633  $ 3,187  $ 7,847  $ (1,334) $ (769) $ 5,744