Established in 1968 and based in Las Vegas, Nevada, Live Ventures Incorporated is a diversified U.S. company with operations spanning flooring manufacturing, ...
Live Ventures Incorporated, trading on NASDAQ under the symbol LIVE, is a diversified holding company headquartered in Las Vegas, Nevada. Founded in 1968, the company has evolved significantly, particularly after Jon Isaac became CEO in 2012, shifting its focus to value-oriented acquisitions of domestic middle-market companies. The company operates through ...Live Ventures Incorporated, trading on NASDAQ under the symbol LIVE, is a diversified holding company headquartered in Las Vegas, Nevada. Founded in 1968, the company has evolved significantly, particularly after Jon Isaac became CEO in 2012, shifting its focus to value-oriented acquisitions of domestic middle-market companies. The company operates through three primary segments: Flooring Manufacturing, Steel Manufacturing, and Retail. The Flooring Manufacturing segment produces carpets, rugs, and yarn for residential, commercial, and hospitality markets, and also resells hard surface flooring. It serves a wide range of customers including flooring dealers, home centers, and direct consumers. The Steel Manufacturing segment specializes in pre-finished tool and die steel products, supplying steel distributors and service centers. The Retail segment operates 63 specialty entertainment stores under brands like Vintage Stock, V-Stock, Movie Trading Company, and EntertainMart, offering new and used movies, video games, music, books, and collectibles, both in-store and online via vintagestock.com. The company also provides services like rentals and repairs. As of 2025, Live Ventures reported revenues of $445 million and adjusted EBITDA of $33 million, with total assets of $387 million and shareholders' equity of $95 million. It employs approximately 1,366 full-time employees. The company's financial metrics indicate a market cap of around $31.8 million, with a low price-to-earnings ratio of 8.3 and a high debt-to-equity ratio of 2.5, reflecting an aggressive growth strategy through acquisitions. Despite challenges, the company maintains a focus on operational efficiency and expansion, aiming to create value for shareholders through diversified business operations.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$444.9M
-5.9%
+5.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$22.7M
+185.2%
+56.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+32.7%
+6.9%
+1.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+3.8%
+302.9%
+46.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+5.1%
+190.6%
+59.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$21.0M
+72.8%
+233.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+4.7%
+83.6%
+225.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
227.1%
-35.8%
-2.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.56x
+11.2%
-20.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, everyone, and welcome to the Live Ventures Fiscal Year '26 Q2 Earnings Conference Call. [Operator Instructions] Now I'll turn the call over to your host, Greg Powell, Director of Investor Relations. Please go ahead, Greg.
Greg Powell: Thank you, Elvis. Good afternoon, and welcome to the Live Ventures Second 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 a number of factors, including those outlined in our latest financials, Forms 10 and Forms 10-Q as filed with the Securities and Exchange Commission. And a matter of fact, our 10-Q will be filed here in a few minutes for this quarter. We have no obligation to publicly update our 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 referenced on this call in the Investor Relations section of the Live Ventures website. 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 us through our financial performance. David?
David Verret: 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 Retail Entertainment and Flooring Manufacturing segments delivered strong operating income growth of 32.8% and 24%, respectively. However, these gains were offset by a $1.9 million decrease in operating loss -- increase in operating loss in the Retail Flooring segment and a noncash goodwill impairment charge of approximately $4 million in our Steel Manufacturing segment. Excluding the impairment charge, consolidated operating income would have been approximately $2 million, essentially in line with the prior year period. Let's now discuss the financial results for the second quarter ended March 31, 2026. Revenue decreased approximately $4.1 million or 3.8% to $102.9 million compared to revenue of $107 million in the prior year period. The decrease in revenue primarily reflects a decline of approximately $7.2 million in the Retail Flooring segment, partially offset by an increase of approximately $2.7 million in the Retail Entertainment segment. Retail Entertainment segment revenue increased approximately $2.7 million or 14.8% to $21.2 million compared to $18.5 million in the prior year period. The revenue growth was driven by strong consumer demand across all product lines. Retail Flooring segment revenue decreased approximately $7.2 million or 26.2% to $20.2 million compared to $27.4 million in the prior year period. The decline was primarily driven by lower retail and contractor sales due to …
