10-Q · May 14, 2026
Live Ventures reported disappointing Q2 2026 results with revenues declining to $102.9 million, down 3.8% from $107.0 million in Q2 2025, and a diluted loss per share of $0.80. This downturn was influenced by a…
Earnings analysis · 10-Q
LIVE earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Live Ventures delivered Q3 FY2026 revenue of $108.911 million, up sequentially from $103 million but down 3.6% from $113 million a year earlier. Gross margin improved to 34.1%, but diluted EPS declined to a $0.34 loss…
Read full summary
Live Ventures delivered Q3 FY2026 revenue of $108.911 million, up sequentially from $103 million but down 3.6% from $113 million a year earlier. Gross margin improved to 34.1%, but diluted EPS declined to a $0.34 loss from $1.24 of EPS in the prior-year quarter. The most material new issue is PMW’s approximately $10.6 million debt default and refinancing uncertainty ahead of the August 19, 2026 forbearance expiration, although management stated that acceleration would not be material to consolidated liquidity based on available cash and borrowing capacity.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.34
- Gross margin
- 34.1%
What stood out
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Revenue recovered sequentially but declined YoY
Q3 FY2026 revenue was $108.911 million, up from $103 million in Q2 FY2026 but down from $113 million in Q3 FY2025, representing a 3.6% year-over-year decline.
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Gross margin expanded
Gross margin was 34.1%, improving from 33.6% in Q2 FY2026 and 34.0% in Q3 FY2025, or approximately 50 basis points sequentially and 10 basis points year over year.
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EPS deteriorated year over year
Diluted EPS was a loss of $0.34 versus diluted EPS of $1.24 in Q3 FY2025, a deterioration of $1.58 per share year over year.
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Consolidated liquidity viewed as adequate
PMW’s Fifth Third debt totaled approximately $10.6 million as of June 30, 2026, consisting of approximately $7.6 million under the revolver and $3.0 million under the M&E loan.
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Repurchase authorization remains available
The company repurchased no shares during the nine months ended June 30, 2026, leaving approximately $9.5 million available under the $10 million repurchase program.
What to watch
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PMW debt default and near-term maturity
PMW was in default of its Fixed Charge Coverage Ratio covenant, with approximately $10.6 million outstanding to Fifth Third as of June 30, 2026. The loan maturity date was July 19, 2026, and the forbearance period was extended only through August 19, 2026.
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Refinancing remains uncertain
PMW had not refinanced its approximately $10.6 million Fifth Third obligation and was still evaluating replacement financing. Failure to refinance or extend forbearance beyond August 19, 2026 could permit acceleration or foreclosure on substantially all of PMW’s assets.
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Potential liquidity support or impairment
If Fifth Third accelerates the approximately $10.6 million PMW obligation, the company may need to provide financial support, which management states could adversely affect liquidity; alternatively, PMW could face an impairment of the company’s investment.
Management's outlook
No quantitative revenue or EPS guidance was provided in the 10-Q; the filing discusses PMW refinancing and liquidity risks but does not provide an operating outlook.
Earlier filings 4
10-K · December 17, 2025
Live Ventures (LIVE) presents a buy-build-hold, acquisition-driven strategy across diversified industrial and retail businesses (textile/flooring/tools/steel/entertainment). Latest quarter (fiscal Q4 ended Sep 30, 2025)…
10-Q · August 8, 2025
Live Ventures reported revenue of $112.53M for the quarter ended June 30, 2025, down versus the prior-year quarter, while profitability and cash generation strengthened. Gross profit was $38.287M and operating income…
10-Q · May 8, 2025
Live Ventures reported revenue of $107,013,000 for the quarter ended March 31, 2025, down from $118,626,000 a year earlier, but delivered net income of $15,866,000 (diluted EPS $5.05) driven largely by a $22,784,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.