Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.3
Segment Reporting
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting
Note 18:    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 aligns with how the Chief Operating Decision Maker (“CODM”), consisting of the Company’s Chief Executive Officer and Chief Financial Officer, assesses financial performance and allocates resources across the Company’s operations.
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 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:
Year ended September 30, 2025 Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany eliminations Total
Revenue
 $ 77,519  $ 122,308  $ 121,574  $ 132,593  $ 453,994  $ 78  $ (9,128) $ 444,944 
Cost of revenue
 32,638  79,596  90,784  105,043  308,061  14  (8,820) 299,255 
Gross profit
 44,881  42,712  30,790  27,550  145,933  64  (308) 145,689 
Gross profit percentage
 57.9% 34.9% 25.3% 20.8% 32.1% 32.7%
Operating expenses:
General and administrative expenses
 33,551  50,012  7,903  18,475  109,941  4,280  (479) 113,742 
Sales and marketing expenses
 664  414  15,675  536  17,289  23  —  17,312 
Total operating expenses
 34,215  50,426  23,578  19,011  127,230  4,303  (479) 131,054 
Operating income 10,666  (7,714) 7,212  8,539  18,703  (4,239) 171  $ 14,635 
Other income (expense):
Interest expense, net (39) (4,245) (4,336) (5,457) (14,077) (1,474) —  (15,551)
Other income, net 534  24,883  87  3,398  28,902  417  —  29,319 
Total income (expense), net 495  20,638  (4,249) (2,059) 14,825  (1,057) —  13,768 
Income (loss) before income taxes $ 11,161  $ 12,924  $ 2,963  $ 6,480  $ 33,528  $ (5,296) $ 171  $ 28,403 
Adjusted EBITDA Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Income (loss) before income taxes $ 11,161  $ 12,924  $ 2,963  $ 6,480  $ 33,528  $ (5,296) $ 171  $ 28,403 
Interest expense, net 39  4,245  4,336  5,457  14,077  1,474  —  15,551 
Depreciation and amortization 1,033  5,255  3,756  7,211  17,255  19  —  17,274 
Gain on note modification —  (22,784) —  —  (22,784) —  —  (22,784)
Other adjustments (356) (1,742) —  (2,957) (5,055) 1  —  (5,054)
Adjusted EBITDA $ 11,877  $ (2,102) $ 11,055  $ 16,191  $ 37,021  $ (3,802) $ 171  $ 33,390 
Year ended September 30, 2024 Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Revenue
 $ 71,023  $ 136,989  $ 133,026  $ 139,768  $ 480,806  $ 333  $ (8,299) $ 472,840 
Cost of revenue
 30,094  87,812  100,710  117,683  336,299  24  (8,307) 328,016 
Gross profit
 40,929  49,177  32,316  22,085  144,507  309  8  144,824 
Gross profit percentage
 57.6% 35.9% 24.3% 15.8% 30.1% 30.6%
Operating expenses:
General and administrative expenses
 33,091  52,841  6,852  16,844  109,628  8,412  —  118,040 
Sales and marketing expenses
 661  3,800  17,259  630  22,350  22  —  22,372 
Impairment expense —  18,056  —  —  18,056  —  —  18,056 
Total operating expenses
 33,752  74,697  24,111  17,474  150,034  8,434  —  158,468 
Operating income 7,177  (25,520) 8,205  4,611  (5,527) (8,125) 8  $ (13,644)
Other income (expense):
Interest expense, net (299) (5,075) (4,260) (6,341) (15,975) (872) —  (16,847)
Other income (expense) 103  (314) 102  (1,184) (1,293) 441  —  (852)
Total income (expense), net (196) (5,389) (4,158) (7,525) (17,268) (431) —  (17,699)
Income (loss) before income taxes $ 6,981  $ (30,909) $ 4,047  $ (2,914) $ (22,795) $ (8,556) $ 8  $ (31,343)
Adjusted EBITDA Retail-Entertainment Retail-Flooring Flooring Manufacturing Steel Manufacturing Total Reportable Segments Corporate and Other Intercompany Eliminations Total
Income (loss) before income taxes $ 6,981  $ (30,909) $ 4,047  $ (2,914) $ (22,795) $ (8,556) $ 8  $ (31,343)
Interest expense, net 299  5,075  4,260  6,341  15,975  872  —  16,847 
Depreciation and amortization 945  5,228  4,126  6,897  17,196  19  —  17,215 
Goodwill impairment —  18,056  —  —  18,056  —  —  18,056 
Other adjustments 183  942  —  2,142  3,267  455  —  3,722 
Adjusted EBITDA $ 8,408  $ (1,608) $ 12,433  $ 12,466  $ 31,699  $ (7,210) $ 8  $ 24,497