Live Ventures Inc. 2026年季度报告

FOR THE THREE MONTHS ENDED DECEMBER 31, 2025 TABLE OF CONTENTS PART I FINANCIAL INFORMATION 3 Item 1.Financial Statements Condensed Consolidated Balance Sheets as of December 31, 2025(Unaudited) and September 30, 2025Condensed Consolidated Statements of(Loss) Income(Unaudited) for the Three Months Ended December31, 2025 and 2024 PART II OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSIGNATURES LIVE VENTURES INCORPORATEDCONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) LIVE VENTURES INCORPORATEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (dollars in thousands, except per-share amounts) Note 1:Background and Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Live Ventures Incorporated, aNevada corporation, and its subsidiaries (collectively, “Live Ventures” or the “Company”). Live Ventures is a diversified holdingcompany with a strategic focus on value-oriented acquisitions of domestic middle-market companies. The Company has five operatingsegments: Retail-Entertainment, Retail-Flooring, Flooring Manufacturing, Steel Manufacturing, and Corporate and Other. The Retail-Entertainment segment includes Vintage Stock, Inc. (“Vintage Stock”), which is engaged in the retail sale of new and used movies,music,collectibles,comics,books,games,game systems,and components.The Retail-Flooring segment includes FlooringLiquidators, Inc. (“Flooring Liquidators”), which is engaged in the retail sale and installation of floors, carpets, and countertops. TheFlooring Manufacturing segment includes Marquis Industries, Inc. (“Marquis”), which is engaged in the manufacture and sale ofcarpet and the sale of vinyl and wood floor coverings. The Steel Manufacturing Segment includes Precision Industries, Inc. (“PrecisionMarshall”), which is engaged in the manufacture and sale of alloy and steel plates, ground flat stock and drill rods, The Kinetic Co.,Inc. (“Kinetic”), which is engaged in the production of industrial knives and hardened wear products for the tissue and metals The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accountingprinciples (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotesrequired by U.S. GAAP for audited financial statements. In the opinion of the Company’s management, this interim informationincludes all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interimperiods. The results of operations for the three months ended December31, 2025 are not necessarily indicative of the results to be Note 2:Summary of Significant Accounting Policies Principles of Consolidation The unaudited condensed financial statements include the accounts of the Company and its majority owned subsidiaries over whichthe Company exercises control. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’smanagement to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent Significant estimates made in connection with the accompanying consolidated financial statements include the estimated reserve forexcess and obsolete inventory, fair values in connection with the analysis of goodwill, other intangibles and long-lived assets for Table of Contents Revenue Recognition General The Company accounts for its sales revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue fromContracts with Customers (“Topic 606”). Topic 606 provides a five-step revenue recognition model that is applied to the Company’scustomer contracts. Under this model we (i) identify the contract with the customer, (ii) identify our performance obligations in the Revenue is recognized upon transfer of control of the promised goods or the performance of the services to customers in an amountthat reflects the consideration expected to be received in exchange for those goods or services. The Company enters into contracts that Retail - Entertainment Segment The Retail-Entertainment Segment derives revenue primarily from direct sales of entertainment products. Sales are generally of a cash-and-carry nature and contain a single performance obligation. Consequently, revenue is recorded at the point in time in which the saleis made. Revenue is recorded net of sales taxes collected from customers. The Company recognizes the portion of the dollar value of Retail - Flooring Segment The Retail-Flooring Segment derives revenue pr