Live Ventures Reports 9.8% Revenue Decline but Achieves Net Income Turnaround in Q2 Fiscal 2025

Live Ventures Incorporated reported its financial results for the second quarter of fiscal 2025, revealing a revenue decline of approximately 9.8% to $107.0 million compared to $118.6 million in the same period last year. The decrease was primarily driven by declines in the Retail-Flooring, Flooring Manufacturing, and Steel Manufacturing segments, which collectively accounted for a loss of about $13.2 million in revenue. Despite the drop in revenue, the company achieved a net income of $15.9 million, a significant turnaround from a net loss of $3.3 million in the prior year, resulting in earnings per share of $5.10 for the quarter.

For the six months ended March 31, 2025, Live Ventures reported total revenue of $218.5 million, down 7.5% from $236.2 million in the same period of the previous year. The company’s gross profit margin improved to 32.3%, up from 30.4% year-over-year, attributed to enhanced efficiencies in the Steel Manufacturing segment and the acquisition of Central Steel, which historically generates higher margins. Operating income for the first half of the fiscal year was $2.9 million, compared to $2.7 million in the prior year.

Strategically, Live Ventures has been active in acquisitions, including the purchase of Central Steel in May 2024, which contributed to revenue growth in the Steel Manufacturing segment. The company also disposed of certain Johnson Floor & Home Carpet One stores, impacting the Retail-Flooring segment's performance. The company’s total assets as of March 31, 2025, were reported at $393.6 million, a decrease from $407.5 million at the end of the previous fiscal year, primarily due to reductions in trade receivables and inventories.

Operationally, Live Ventures has seen a decrease in its customer base and engagement metrics, particularly in the Retail-Flooring segment, which reported a revenue drop of 14.5% year-over-year. The company’s employee headcount remained stable, with no significant changes reported. The company continues to focus on cost reduction initiatives, which have led to a decrease in general and administrative expenses by 5% to $28.3 million for the quarter.

Looking ahead, Live Ventures anticipates that its available cash, along with cash generated from operations and borrowing capacity, will provide sufficient liquidity to support its operations and strategic initiatives over the next 12 months. The company is also committed to improving its internal controls and financial reporting processes, addressing identified weaknesses in its control environment.