Live Ventures Q1 2026 Earnings Report

Live Ventures EPS Results

• Actual EPS: -$0.02
• Consensus EPS: N/A
• Beat/Miss: N/A
• One Year Ago EPS: N/A

Live Ventures Revenue Results

• Actual Revenue: $108.54 million
• Expected Revenue: N/A
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

Live Ventures Announcement Details

• Quarter: Q1 2026
• Date: 2/12/2026
• Time: Before Market Opens
• Conference Call Date: Thursday, February 12, 2026
• Conference Call Time: 5:00PM ET

Live Ventures (NASDAQ:LIVE) is a diversified holding company that acquires, manages and grows businesses across multiple industry verticals. The company focuses on small- to mid-market enterprises in the United States, targeting sectors where it can leverage operational expertise to drive revenue growth and improve efficiencies. Live Ventures’ investment strategy centers on businesses in e-commerce and direct marketing, consumer finance, industrial products and energy services.

Among its key subsidiaries is Hanover Direct, a direct-to-consumer catalog and e-commerce retailer offering apparel, home décor and beauty products. Live Ventures also operates PeopleLoans.com, an online consumer lending platform providing personal loan solutions, and manages industrial and energy businesses that supply specialty materials and services to niche markets. Through these operating units, the company generates revenue from product sales, marketing services and loan origination fees.

Founded in 2006 and headquartered in Dallas, Texas, Live Ventures trades on the NASDAQ under the symbol LIVE. Under the leadership of President and Chief Executive Officer Matthew Raczka, the company has pursued a roll-up strategy, completing a series of acquisitions to diversify its portfolio and expand its geographic reach. Live Ventures continues to evaluate new acquisition opportunities aimed at enhancing shareholder value and strengthening its market position in North America.

Live Ventures Q1 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Live Ventures reported a 352.9% increase in operating income to $3.5M and Adjusted EBITDA rose to $7.8M (up 35.7% YoY), driven by cost reductions and stronger operating discipline across portfolio companies.
• Negative Sentiment: Total revenue fell ~2.7% to $108.5M, with the Retail‑Flooring segment down 20.2% (store closures and weak housing/refurbishment markets) and the company recording a small net loss of ~$0.1M versus prior‑year income.
• Positive Sentiment: Gross margin improved 90 basis points to 32.6% thanks to efficiency gains and favorable product mix in Flooring Manufacturing and Retail‑Entertainment, while G&A and sales/marketing expenses declined from targeted cost initiatives.
• Positive Sentiment: Liquidity and balance‑sheet flexibility strengthened — $38.7M total cash availability (including $15.1M cash), working capital rose to $69.1M, and the company refinanced a steel‑segment credit facility to support future growth.
• Neutral Sentiment: Management is rolling out an AI, robotics, and data‑analytics integration strategy to modernize operations and improve efficiency, but the company did not quantify expected timing or near‑term financial impact.

Presentation

[Operator]

Good day, everyone, and welcome to the Live Ventures Fiscal Year 2026 Q1 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we'll conduct a question-and-answer session. Now I'll turn the call over to Greg Powell, Director of Investor Relations. Please go ahead, sir.

[Greg Powell, Director of Investor Relations at Live Ventures]

Thank you, Elvis. Good afternoon, and welcome to the Live Ventures first quarter fiscal year 2026 conference call. Joining us this afternoon are Jon Isaac, our Chief Executive Officer and President, and David Verret, our Chief Financial Officer. Some of the statements we're making today are forward-looking and are based on our best view of our businesses as we see them today. The actual results could differ materially due to the number of factors, including those outlined in our latest filings, Form 10-K and 10-Q, as filed with the SEC. We have no obligation to publicly update any forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions, or otherwise. You can find our press release and 10-Q, which we filed today, referenced on this call in the Investor Relations section of the Live Ventures website.

[Greg Powell, Director of Investor Relations at Live Ventures]

I direct you to our website, liveventures.com, or SEC.gov for our historical SEC filings. I will now turn the call over to David to walk you through our financial performance. David?

[David Verret, CFO at Live Ventures]

Thank you, Greg. Good afternoon, everyone. Before discussing our financial results, I'd like to touch on a few key highlights from the quarter. During the quarter, our portfolio companies continued to strengthen their operating disciplines and optimize their cost structures. These efforts contributed to a $2.7 million, or 352.9% increase in operating income compared to the prior year period. Additionally, we reported adjusted EBITDA of $7.8 million, a $2 million or 35.7% increase compared to the prior year period. These results were delivered despite sustained softness in new home construction and home refurbishment markets, which continued to weigh on our Retail-Flooring segment. In addition, we successfully refinanced one of our credit facilities in the Steel Manufacturing segment, strengthening our balance sheet and enhancing our ability to support future growth.

[David Verret, CFO at Live Ventures]

Let's now discuss the financial results for the first quarter ended December 31, 2025. Total revenue decreased approximately $3 million or 2.7% to approximately $108.5 million for the quarter ended December 31, 2025, compared to revenue of approximately $111.5 million in the prior year period. The decrease in revenue is primarily attributable to a $7.1 million decline in the Retail-Flooring and Steel Manufacturing segments, partially offset by a $4.1 million increase in the Retail-Entertainment and Flooring Manufacturing segments, net of intercompany sales eliminations. Retail-Entertainment segment revenue for the first quarter was approximately $23.6 million, an increase of approximately $2.3 million, or 11% compared to $21.3 million in the prior year period.

[David Verret, CFO at Live Ventures]

The revenue growth was driven by strong consumer demand across all product lines. Retail-Flooring segment revenue for the first quarter was approximately $25.3 million, down $6.4 million, or 20.2%, compared to $31.7 million in the prior year period. The decline was primarily driven by changes in our store footprint and continued softness in the housing market. During the quarter, we operated two fewer locations compared to the first quarter of 2025 due to store closures over the last year. That said, we did open three new stores late in the first quarter of 2026. While those locations had not yet materially contributed to revenue in the period, we're encouraged by the expansion and the opportunity they represent going forward.

[David Verret, CFO at Live Ventures]

Flooring Manufacturing segment revenue for the first quarter was approximately $28.9 million, a decrease of approximately $300,000 or 1.1%, compared to approximately $29.2 million in the prior year period. The decrease in revenue was primarily due to lower sales to the Retail-Flooring segment. Net of intercompany sales eliminations, revenue increased approximately $2 million compared to the prior year period. Steel Manufacturing segment revenue for the first quarter was approximately $31.9 million, a decrease of approximately $1.4 million, or 4.3%, compared to approximately $33.3 million in the prior year period. The decrease in revenue was primarily driven by lower sales volumes in the metal forming, assembly, and finishing solutions business. Net of intercompany sales eliminations, revenue decreased approximately $700,000 compared to the prior year period.

[David Verret, CFO at Live Ventures]

Gross profit was approximately $35.4 million for the first quarter, essentially unchanged compared to the prior year period. However, gross margin increased by 90 basis points to 32.6%, as compared to 31.7% in the prior year period. Gross margin improvement was attributable to higher margins in the Flooring Manufacturing segment due to improved efficiencies and favorable product mix, improved efficiencies in the Steel Manufacturing segment, and favorable product mix in the Retail-Entertainment segment, partially offset by lower gross margins in the Retail-Flooring segment. Gross margin for the Retail-Flooring segment declined year-over-year, primarily due to a greater mix of aged inventory sold during this seasonally slower period. General and administrative expense decreased approximately $2.2 million, or 7.4%, to approximately $27.8 million.

[David Verret, CFO at Live Ventures]

The decrease was driven primarily by targeted cost reduction initiatives in our Retail-Flooring segment, including lower compensation and professional fee expenses. Sales and marketing expense decreased 10.4% to approximately $4.1 million, primarily reflecting lower compensation and product sample-related expenses in our Flooring Manufacturing segment. Operating income increased approximately $2.7 million, or 352.9%, to $3.5 million for the first quarter, compared with operating income of approximately $800,000 in the prior year period. The increase in operating income was primarily driven by higher gross margins and lower operating expenses in the Retail-Flooring, Flooring Manufacturing, and Corporate & Other segments, reflecting targeted cost reduction initiatives. Interest expense decreased 14.4% to approximately $3.6 million. The decrease was primarily due to lower average debt balances as compared to the prior year period.

[David Verret, CFO at Live Ventures]

For the quarter ended December 31, 2025, net loss was approximately $100,000, and loss per share was $0.02, compared to net income of approximately $500,000 and diluted EPS of $0.16 in the prior year period. Net income for the prior year quarter includes a $2.8 million gain related to the settlement of the earn-out liability from the Precision Metal Works acquisition and a $700,000 gain from the settlement of PMW seller notes. Adjusted EBITDA for the first quarter was approximately $7.8 million, an increase of approximately $2 million, or 35.7%, compared to $5.7 million in the prior year period. The increase in adjusted EBITDA was primarily driven by higher operating income.

[David Verret, CFO at Live Ventures]

Turning to liquidity, we ended the first quarter with total cash availability of $38.7 million, consisting of cash on hand of $15.1 million and availability under various lines of credit of $23.6 million. Our working capital was approximately $69.1 million as of December 31, 2025, compared to $62.1 million as of September 30, 2025. As of December 31, total assets were $389.2 million, and total stockholders' equity was $95.3 million. In conclusion, we delivered a solid first quarter, marked by meaningful operating improvements across the businesses, despite a still challenging housing market backdrop. To build on this momentum, we are rolling out a comprehensive strategy to integrate AI across the business units.

[David Verret, CFO at Live Ventures]

By applying AI alongside robotics and data analytics, we are modernizing operations, improving efficiency across the organization, and reinforcing the cost discipline that supports our long-term strategy. We will now take questions from those of you on the conference call. Operator, please open the line for questions.

[Operator]

Certainly. If you'd like to ask a question, please press star one on your phone now, and you'll be placed into the queue. Again, star one on your phone, and we'll pause briefly to form our queue. Once again, everyone, star one for a question. David, we have no questions at this time. I'll turn it back over to you for any additional or closing comments.

[David Verret, CFO at Live Ventures]

Okay. All right. We thank everyone for attending our Q1 conference call, and we look forward to talk, speaking with you, when we release our Q2 earnings. Thank you.

[Operator]

That concludes our meeting today. You may now disconnect.

Participants

Executives

• David Verret, CFO
• Greg Powell, Director of Investor Relations