LIVE earnings analysis
What we found in LIVE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
- 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.
- 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.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.34
- Gross margin
- 34.1%
What they said about what is next.
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.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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