Live Ventures Reports Fiscal Second Quarter 2025 Financial Results

Core Insights - Live Ventures Incorporated reported financial results for the fiscal second quarter of 2025, showing a mixed performance across its segments, with notable improvements in Retail-Entertainment and Steel Manufacturing, while Retail-Flooring and Flooring Manufacturing faced challenges due to reduced consumer demand [1][3][4]. Financial Performance - Revenue for the second quarter decreased by approximately $11.6 million, or 9.8%, to $107.0 million compared to $118.6 million in the prior year [6][8]. - Operating income increased by approximately $2.9 million to $2.1 million, compared to an operating loss of $0.8 million in the prior year [7][8]. - Net income for the quarter was $15.9 million, a significant improvement from a net loss of $3.3 million in the prior year [8][39]. - Adjusted EBITDA rose by approximately $2.0 million, or 44.6%, to $6.4 million compared to $4.5 million in the prior year [10][39]. Segment Performance - Retail-Entertainment: Revenue increased by approximately $1.6 million, or 9.6%, to $18.5 million, driven by a favorable product mix [13]. - Retail-Flooring: Revenue decreased by approximately $4.6 million, or 14.5%, to $27.4 million, primarily due to the closure of certain stores [14]. - Flooring Manufacturing: Revenue decreased by approximately $4.4 million, or 12.8%, to $29.8 million, attributed to reduced consumer demand [15]. - Steel Manufacturing: Revenue decreased by approximately $4.2 million, or 11.7%, to $31.3 million, with a notable increase in gross margin to 21.2% [16]. Balance Sheet and Cash Position - As of March 31, 2025, total assets were $393.6 million, with stockholders' equity of $88.9 million [11][36]. - The company had approximately $26.6 million in cash and availability under credit facilities [11][39]. Six-Month Performance Summary - For the six months ended March 31, 2025, revenue decreased by approximately $17.7 million, or 7.5%, to $218.5 million [19]. - Operating income increased by approximately 5.6% to $2.9 million compared to the prior year [20]. - Adjusted EBITDA for the six months was approximately $12.2 million, a decrease of 7.3% compared to the prior year [22].