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Live Ventures Incorporated (LIVE+2.04%) has submitted its Form 10-K filing for the fiscal year ended September 30, 2024.
The filing includes financial statements for the year, showing total revenue of $472.8 million, an increase from $355.2 million in the previous year. The increase was driven by higher sales in the Retail-Flooring and Steel Manufacturing segments.
The Retail-Entertainment segment reported a revenue decline to $71.0 million from $78.1 million, attributed to reduced consumer demand and a shift towards lower ticket sales products.
The Retail-Flooring segment's revenue increased to $137.0 million from $75.9 million, primarily due to acquisitions and expansion in builder design and installation services.
Flooring Manufacturing revenue rose to $124.9 million from $109.8 million, with the increase largely due to the acquisition of Harris Flooring Group brands.
Steel Manufacturing revenue grew to $139.6 million from $88.9 million, driven by acquisitions of PMW and Central Steel.
General and administrative expenses increased to $118.0 million from $86.7 million, primarily due to acquisitions.
The company reported a net loss of $26.7 million, compared to a net loss of $102,000 in the previous year, impacted by a goodwill impairment charge of $18.1 million in the Retail-Flooring segment.
Live Ventures reported Adjusted EBITDA of $24.5 million, a decrease from $31.5 million in the prior year, reflecting challenges in certain segments.
The filing details the company's capital structure, including various revolving credit facilities and related party transactions, with total indebtedness of $151.2 million.
Live Ventures continues to focus on strategic acquisitions and operational improvements across its segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Live Ventures Incorporated annual 10-K report dated December 19, 2024. To report an error, please email earnings@qz.com.