| Segment Reporting [Text Block] |
Note 17: 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 reflects how the Chief Operating Decision Maker (“CODM”), consisting of the Company’s Chief Executive Officer and Chief Financial Officer, evaluates financial performance and allocates resources across the Company’s operations. The Corporate and Other segment does not meet the criteria to be presented as a reportable segment under ASC 280.
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 a 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 29 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 (in $000’s):
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Three Months Ended June 30, 2026 | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Revenue | | $ | 21,426 | | | $ | 21,434 | | | $ | 31,813 | | | $ | 36,271 | | | $ | 110,944 | | | $ | 6 | | | $ | (2,039 | ) | | $ | 108,911 | |
Cost of revenue | | | 9,138 | | | | 13,475 | | | | 23,614 | | | | 27,355 | | | | 73,582 | | | | 3 | | | | (1,770 | ) | | | 71,815 | |
Gross profit | | | 12,288 | | | | 7,959 | | | | 8,199 | | | | 8,916 | | | | 37,362 | | | | 3 | | | | (269 | ) | | | 37,096 | |
Gross profit percentage | | | 57.4 | % | | | 37.1 | % | | | 25.8 | % | | | 24.6 | % | | | 33.7 | % | | | 50.0 | % | | | 13.2 | % | | | 34.1 | % |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses | | | 8,958 | | | | 11,026 | | | | 1,975 | | | | 4,884 | | | | 26,843 | | | | 869 | | | | (125 | ) | | | 27,587 | |
Sales and marketing expenses | | | 230 | | | | 113 | | | | 3,703 | | | | 172 | | | | 4,218 | | | | 8 | | | | — | | | | 4,226 | |
Impairment expense | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Total operating expenses | | | 9,188 | | | | 11,139 | | | | 5,678 | | | | 5,056 | | | | 31,061 | | | | 877 | | | | (125 | ) | | | 31,813 | |
Operating income (loss) | | | 3,100 | | | | (3,180 | ) | | | 2,521 | | | | 3,860 | | | | 6,301 | | | | (874 | ) | | | (144 | ) | | | 5,283 | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense, net | | | 38 | | | | (858 | ) | | | (915 | ) | | | (1,639 | ) | | | (3,374 | ) | | | (461 | ) | | | — | | | | (3,835 | ) |
Other income, net | | | (83 | ) | | | 3 | | | | (16 | ) | | | (61 | ) | | | (157 | ) | | | 9 | | | | 86 | | | | (62 | ) |
Total expense, net | | | (45 | ) | | | (855 | ) | | | (931 | ) | | | (1,700 | ) | | | (3,531 | ) | | | (452 | ) | | | 86 | | | | (3,897 | ) |
Income (loss) before income taxes | | $ | 3,055 | | | $ | (4,035 | ) | | $ | 1,590 | | | $ | 2,160 | | | $ | 2,770 | | | $ | (1,326 | ) | | $ | (58 | ) | | $ | 1,386 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Adjusted EBITDA | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Income (loss) before income taxes | | $ | 3,055 | | | $ | (4,035 | ) | | $ | 1,590 | | | $ | 2,160 | | | $ | 2,770 | | | $ | (1,326 | ) | | $ | (58 | ) | | $ | 1,386 | |
Interest income (expense), net | | | (38 | ) | | | 858 | | | | 915 | | | | 1,639 | | | | 3,374 | | | | 461 | | | | — | | | | 3,835 | |
Depreciation and amortization | | | 298 | | | | 1,243 | | | | 898 | | | | 1,390 | | | | 3,829 | | | | 5 | | | | — | | | | 3,834 | |
Other adjustments | | | — | | | | 50 | | | | — | | | | 193 | | | | 243 | | | | — | | | | — | | | | 243 | |
Adjusted EBITDA | | $ | 3,315 | | | $ | (1,884 | ) | | $ | 3,403 | | | $ | 5,382 | | | $ | 10,216 | | | $ | (860 | ) | | $ | (58 | ) | | $ | 9,298 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Three Months Ended June 30, 2025 | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Revenue | | $ | 19,017 | | | $ | 30,373 | | | $ | 30,959 | | | $ | 33,793 | | | $ | 114,142 | | | $ | 8 | | | $ | (1,620 | ) | | $ | 112,530 | |
Cost of revenue | | | 8,092 | | | | 19,604 | | | | 22,413 | | | | 26,012 | | | | 76,121 | | | | 3 | | | | (1,881 | ) | | | 74,243 | |
Gross profit | | | 10,925 | | | | 10,769 | | | | 8,546 | | | | 7,781 | | | | 38,021 | | | | 5 | | | | 261 | | | | 38,287 | |
Gross profit percentage | | | 57.4 | % | | | 35.5 | % | | | 27.6 | % | | | 23.0 | % | | | 33.3 | % | | | 62.5 | % | | | (16.1 | )% | | | 34.0 | % |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses | | | 8,444 | | | | 11,533 | | | | 2,153 | | | | 5,342 | | | | 27,472 | | | | (8 | ) | | | (1,189 | ) | | | 26,275 | |
Sales and marketing expenses | | | 164 | | | | (31 | ) | | | 3,717 | | | | 154 | | | | 4,004 | | | | 5 | | | | — | | | | 4,009 | |
Total operating expenses | | | 8,608 | | | | 11,502 | | | | 5,870 | | | | 5,496 | | | | 31,476 | | | | (3 | ) | | | (1,189 | ) | | | 30,284 | |
Operating income (loss) | | | 2,317 | | | | (733 | ) | | | 2,676 | | | | 2,285 | | | | 6,545 | | | | 8 | | | | 1,450 | | | | 8,003 | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense, net | | | — | | | | (901 | ) | | | (1,092 | ) | | | (1,429 | ) | | | (3,422 | ) | | | (432 | ) | | | — | | | | (3,854 | ) |
Other income, net | | | 5 | | | | 1,614 | | | | 32 | | | | 1,558 | | | | 3,209 | | | | 97 | | | | — | | | | 3,306 | |
Total income (expense), net | | | 5 | | | | 713 | | | | (1,060 | ) | | | 129 | | | | (213 | ) | | | (335 | ) | | | — | | | | (548 | ) |
Income (loss) before income taxes | | $ | 2,322 | | | $ | (20 | ) | | $ | 1,616 | | | $ | 2,414 | | | $ | 6,332 | | | $ | (327 | ) | | $ | 1,450 | | | $ | 7,455 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Adjusted EBITDA | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Income (loss) before income taxes | | $ | 2,322 | | | $ | (20 | ) | | $ | 1,616 | | | $ | 2,414 | | | $ | 6,332 | | | $ | (327 | ) | | $ | 1,450 | | | $ | 7,455 | |
Interest expense, net | | | — | | | | 901 | | | | 1,092 | | | | 1,429 | | | | 3,422 | | | | 432 | | | | — | | | | 3,854 | |
Depreciation and amortization | | | 250 | | | | 1,316 | | | | 943 | | | | 2,033 | | | | 4,542 | | | | 5 | | | | — | | | | 4,547 | |
Employee Retention Credit | | | — | | | | (1,469 | ) | | | — | | | | — | | | | (1,469 | ) | | | — | | | | — | | | | (1,469 | ) |
Holdback settlement | | | — | | | | — | | | | — | | | | (1,257 | ) | | | (1,257 | ) | | | — | | | | — | | | | (1,257 | ) |
Other adjustments | | | — | | | | 50 | | | | — | | | | 8 | | | | 58 | | | | — | | | | — | | | | 58 | |
Adjusted EBITDA | | $ | 2,572 | | | $ | 778 | | | $ | 3,651 | | | $ | 4,627 | | | $ | 11,628 | | | $ | 110 | | | $ | 1,450 | | | $ | 13,188 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Nine Months Ended June 30, 2026 | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Revenue | | $ | 66,252 | | | $ | 66,969 | | | $ | 90,958 | | | $ | 100,679 | | | $ | 324,858 | | | $ | 17 | | | $ | (4,521 | ) | | $ | 320,354 | |
Cost of revenue | | | 28,110 | | | | 43,930 | | | | 67,401 | | | | 78,218 | | | | 217,659 | | | | 11 | | | | (4,345 | ) | | | 213,325 | |
Gross profit | | | 38,142 | | | | 23,039 | | | | 23,557 | | | | 22,461 | | | | 107,199 | | | | 6 | | | | (176 | ) | | | 107,029 | |
Gross profit percentage | | | 57.6 | % | | | 34.4 | % | | | 25.9 | % | | | 22.3 | % | | | 33.0 | % | | | 35.3 | % | | | 3.9 | % | | | 33.4 | % |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses | | | 26,456 | | | | 33,669 | | | | 5,477 | | | | 14,172 | | | | 79,774 | | | | 2,982 | | | | 354 | | | | 83,110 | |
Sales and marketing expenses | | | 604 | | | | 837 | | | | 11,264 | | | | 455 | | | | 13,160 | | | | 21 | | | | — | | | | 13,181 | |
Impairment expense | | | — | | | | — | | | | — | | | | 4,013 | | | | 4,013 | | | | — | | | | — | | | | 4,013 | |
Total operating expenses | | | 27,060 | | | | 34,506 | | | | 16,741 | | | | 18,640 | | | | 96,947 | | | | 3,003 | | | | 354 | | | | 100,304 | |
Operating income (loss) | | | 11,082 | | | | (11,467 | ) | | | 6,816 | | | | 3,821 | | | | 10,252 | | | | (2,997 | ) | | | (530 | ) | | | 6,725 | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense, net | | | 87 | | | | (2,701 | ) | | | (2,778 | ) | | | (4,382 | ) | | | (9,774 | ) | | | (1,514 | ) | | | — | | | | (11,288 | ) |
Other income, net | | | (139 | ) | | | 1,462 | | | | 22 | | | | (180 | ) | | | 1,165 | | | | 14 | | | | 86 | | | | 1,265 | |
Total income (expense), net | | | (52 | ) | | | (1,239 | ) | | | (2,756 | ) | | | (4,562 | ) | | | (8,609 | ) | | | (1,500 | ) | | | 86 | | | | (10,023 | ) |
Income (loss) before income taxes | | $ | 11,030 | | | $ | (12,706 | ) | | $ | 4,060 | | | $ | (741 | ) | | $ | 1,643 | | | $ | (4,497 | ) | | $ | (444 | ) | | $ | (3,298 | ) |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Adjusted EBITDA | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Income (loss) before income taxes | | $ | 11,030 | | | $ | (12,706 | ) | | $ | 4,060 | | | $ | (741 | ) | | $ | 1,643 | | | $ | (4,497 | ) | | $ | (444 | ) | | $ | (3,298 | ) |
Interest expense, net | | | (87 | ) | | | 2,701 | | | | 2,778 | | | | 4,382 | | | | 9,774 | | | | 1,514 | | | | — | | | | 11,288 | |
Depreciation and amortization | | | 868 | | | | 3,837 | | | | 2,757 | | | | 4,202 | | | | 11,664 | | | | 15 | | | | — | | | | 11,679 | |
Impairment expense | | | — | | | | — | | | | — | | | | 4,013 | | | | 4,013 | | | | — | | | | — | | | | 4,013 | |
Employee Retention Credit | | | — | | | | (1,400 | ) | | | — | | | | — | | | | (1,400 | ) | | | — | | | | — | | | | (1,400 | ) |
Other adjustments | | | — | | | | 150 | | | | — | | | | 536 | | | | 686 | | | | — | | | | — | | | | 686 | |
Adjusted EBITDA | | $ | 11,811 | | | $ | (7,418 | ) | | $ | 9,595 | | | $ | 12,392 | | | $ | 26,380 | | | $ | (2,968 | ) | | $ | (444 | ) | | $ | 22,968 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Nine Months Ended June 30, 2025 | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Revenue | | $ | 58,758 | | | $ | 89,519 | | | $ | 91,596 | | | $ | 98,569 | | | $ | 338,442 | | | $ | 70 | | | $ | (7,461 | ) | | $ | 331,051 | |
Cost of revenue | | | 24,881 | | | | 57,533 | | | | 68,498 | | | | 78,192 | | | | 229,104 | | | | 10 | | | | (6,860 | ) | | | 222,254 | |
Gross profit | | | 33,877 | | | | 31,986 | | | | 23,098 | | | | 20,377 | | | | 109,338 | | | | 60 | | | | (601 | ) | | | 108,797 | |
Gross profit percentage | | | 57.7 | % | | | 35.7 | % | | | 25.2 | % | | | 20.7 | % | | | 32.3 | % | | | 85.7 | % | | | 8.1 | % | | | 32.9 | % |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses | | | 25,179 | | | | 37,326 | | | | 6,116 | | | | 14,300 | | | | 82,921 | | | | 2,935 | | | | (1,189 | ) | | | 84,667 | |
Sales and marketing expenses | | | 475 | | | | 309 | | | | 12,068 | | | | 404 | | | | 13,256 | | | | 17 | | | | — | | | | 13,273 | |
Total operating expenses | | | 25,654 | | | | 37,635 | | | | 18,184 | | | | 14,704 | | | | 96,177 | | | | 2,952 | | | | (1,189 | ) | | | 97,940 | |
Operating income (loss) | | | 8,223 | | | | (5,649 | ) | | | 4,914 | | | | 5,673 | | | | 13,161 | | | | (2,892 | ) | | | 588 | | | | 10,857 | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense, net | | | (39 | ) | | | (3,354 | ) | | | (3,336 | ) | | | (4,200 | ) | | | (10,929 | ) | | | (1,020 | ) | | | — | | | | (11,949 | ) |
Other income, net | | | 516 | | | | 24,407 | | | | 82 | | | | 4,798 | | | | 29,803 | | | | 420 | | | | — | | | | 30,223 | |
Total income (expense), net | | | 477 | | | | 21,053 | | | | (3,254 | ) | | | 598 | | | | 18,874 | | | | (600 | ) | | | — | | | | 18,274 | |
Income (loss) before income taxes | | $ | 8,700 | | | $ | 15,404 | | | $ | 1,660 | | | $ | 6,271 | | | $ | 32,035 | | | $ | (3,492 | ) | | $ | 588 | | | $ | 29,131 | |
| | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | | | |
| | Retail- | | | Retail- | | | Flooring | | | Steel | | | Reportable | | | Corporate | | | Intercompany | | | | | |
Adjusted EBITDA | | Entertainment | | | Flooring | | | Manufacturing | | | Manufacturing | | | Segments | | | and Other | | | Eliminations | | | Total | |
Income (loss) before income taxes | | $ | 8,700 | | | $ | 15,404 | | | $ | 1,660 | | | $ | 6,271 | | | $ | 32,035 | | | $ | (3,492 | ) | | $ | 588 | | | $ | 29,131 | |
Interest expense, net | | | 39 | | | | 3,354 | | | | 3,336 | | | | 4,200 | | | | 10,929 | | | | 1,020 | | | | — | | | | 11,949 | |
Depreciation and amortization | | | 755 | | | | 3,951 | | | | 2,814 | | | | 5,827 | | | | 13,347 | | | | 15 | | | | — | | | | 13,362 | |
Gain on note modification | | | — | | | | (22,784 | ) | | | — | | | | — | | | | (22,784 | ) | | | — | | | | — | | | | (22,784 | ) |
Employee Retention Credit | | | (356 | ) | | | (1,468 | ) | | | — | | | | — | | | | (1,824 | ) | | | — | | | | — | | | | (1,824 | ) |
Other adjustments | | | — | | | | (56 | ) | | | — | | | | (4,399 | ) | | | (4,455 | ) | | | — | | | | — | | | | (4,455 | ) |
Adjusted EBITDA | | $ | 9,138 | | | $ | (1,599 | ) | | $ | 7,810 | | | $ | 11,899 | | | $ | 27,248 | | | $ | (2,457 | ) | | $ | 588 | | | $ | 25,379 | |
|