Live Ventures Inc. Files 10-Q for Q3 2024

TL;DR

LIVE Ventures filed its Q3 2024 10-Q. Check financials.

AI Summary

Live Ventures Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial position and operations. Specific financial figures and operational details are presented within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Live Ventures Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.

Key Numbers

• 09-30 2024 — Fiscal Year End (Indicates the end of the company's fiscal year.)
• 2024-06-30 — Report End Date (The end date for the financial reporting period covered by the 10-Q.)
• 2023-09-30 — Prior Year End Date (The end date for the prior fiscal year, used for comparison.)

Key Players & Entities

• LIVE VENTURES Inc (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• NV (location) — State of Incorporation
• 850206668 (identifier) — IRS Number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share LIVE The Nasdaq Sto
• $000 — ilities assumed as of June 30, 2024 (in $000's): Total purchase price $ 1,000 Acc

Filing Documents

• live-20240630.htm (10-Q) — 1780KB
• live-20240630xexx311.htm (EX-31.1) — 10KB
• live-20240630xexx312.htm (EX-31.2) — 10KB
• live-20240630xexx321.htm (EX-32.1) — 6KB
• live-20240630xexx322.htm (EX-32.2) — 6KB
• 0001628280-24-036215.txt ( ) — 10757KB
• live-20240630.xsd (EX-101.SCH) — 71KB
• live-20240630_cal.xml (EX-101.CAL) — 112KB
• live-20240630_def.xml (EX-101.DEF) — 518KB
• live-20240630_lab.xml (EX-101.LAB) — 744KB
• live-20240630_pre.xml (EX-101.PRE) — 659KB
• live-20240630_htm.xml (XML) — 1630KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30 , 2024 (Unaudited) and September 30, 2023 3 Condensed Consolidated Statements of (Loss) Income (Unaudited) for the Three Months and Nine Months Ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three and Nine Months Ended June 30 , 2024 and 2023 6 Notes to the Condensed Consolidated Financial Statements (Unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 47 PART II OTHER INFORMATION 48 Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults upon Senior Securities 48 Item 4. Mine Safety Disclosures 48 Item 5. Other Information 48 Item 6. Exhibits 49

SIGNATURES

SIGNATURES 50 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LIVE VENTURES INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands, except per-share amounts) June 30, 2024 September 30, 2023 (Unaudited) Assets Cash $ 4,711 $ 4,309 Trade receivables, net of allowance for doubtful accounts of $ 1.2 million at June 30, 2024 and $ 1.6 million at September 30, 2023 48,887 41,194 Inventories, net 129,478 131,314 Income taxes receivable — 1,116 Prepaid expenses and other current assets 4,442 4,919 Total current assets 187,518 182,852 Property and equipment, net 82,671 80,703 Right of use asset - operating leases 59,687 54,544 Deposits and other assets 1,449 1,282 Intangible assets, net 26,359 26,568 Goodwill 79,132 75,866 Total assets $ 436,816 $ 421,815 Liabilities and Stockholders' Equity Liabilities: Accounts payable $ 31,262 $ 27,190 Accrued liabilities 34,774 31,826 Income taxes payable 624 — Current portion of lease obligations - operating leases 12,938 11,369 Current portion of lease obligations - finance leases 347 359 Current portion of long-term debt 42,186 23,077 Current portion of notes payable related parties 5,400 4,000 Seller notes - related parties 2,500 — Total current liabilities 130,031 97,821 Long-term debt, net of current portion 59,887 78,710 Lease obligation long term - operating leases 52,009 48,156 Lease obligation long term - finance leases 40,950 32,942 Notes payable related parties, net of current portion 5,929 6,914 Seller notes - related parties 39,661 38,998 Deferred taxes 8,974 14,035 Other non-current obligations 6,665 4,104 Total liabilities 344,106 321,680 Commitments and contingencies Stockholders' equity: Series E convertible preferred stock, $ 0.001 par value, 200,000 shares authorized, 47,840 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively, with a liquidation preference of $ 0.30 per share outstanding — — Common stock, $ 0.001 par value, 10,000,000 shares authorized,

View Full Filing

View this 10-Q filing on SEC EDGAR