A Diversified Holding Company
Investor Presentation
December 2023
Disclaimers
FORWARD-LOOKING STATEMENTS
2
The words "Live Ventures," "company" or "Company" refer to Live Ventures Incorporated and its wholly-owned subsidiaries. This presentation contains "forward- looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the "safe harbor" created by those sections and other applicable laws. In accordance with such safe harbor provisions, statements contained herein that look forward in time that include everything other than historical information involve risks and uncertainties that may affect the company's actual results. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. These forward-looking statements include, but are not limited to, statements regarding annualized sales, annualized revenue, and adjusted EBITDA. These statements are based on various estimates and assumptions, whether or not identified in this presentation, believed to be reasonable at the time of preparation; however, no assurance can be given that any such estimates or valuations will ultimately be realized or that realizations will occur within the timeframes on which these estimates are made. Forward-looking information is inherently subjective and uncertain, and is not necessarily indicative of the future performance, nor is it a guaranty that such results will be attained. Forward-looking information is based on the assessment of various valuation and operating parameters, but actual future performance and market conditions are volatile and unpredictable. Live Ventures may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC") on Forms 10-K and 10-Q, Current Reports on Form 8-K, in its annual report to stockholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of the company's products, and the company's future financial performance. The company cautions that these forward-looking statements are further qualified by other factors, including, but not limited to, those set forth in the company's Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (available at http://www.sec.gov). Live Ventures undertakes no obligation to publicly update or revise any statements in this presentation, whether as a result of new information, future events, or otherwise.
TRADEMARKS AND TRADENAMES
Live Ventures owns or has the rights to various trademarks, service marks, and trade names that it uses in connection with the operation of its business. Solely for convenience, the trademarks, service marks, and trade names referred to in this presentation may appear without the ®, TM, or SM symbols; but, such references are not intended to indicate, in any way, that Live Ventures will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks, and trade names.
Key Investment Highlights
3
Live Ventures is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies.
Live Ventures' acquisition strategy is sector agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation.
Driving Shareholder Value:
- Solid growth, profitable, free cash flow, no capital raises from stock issuance since 2014
- Experienced acquirer and manager of U.S. based middle-market companies
- Track record of growth & building shareholder value through excellence in operations and disciplined capital allocation
- Patient capital with long-term investment focus
- Diversified capital allocation strategy
- Highly invested management team: Compensation structure aligned with shareholders
- Liquid alternative to investing in middle-market private equity
Share Price Performance & Equity Overview
4
3-Year Performance
LIVE vs Nasdaq Composite
LIVE up 113%
Nasdaq Composite up 15%
EQUITY OVERVIEW (as of 12.01.23)
Price Per Share: $26.07
52-Week Range: $22.81 - $40.38
Shares Outstanding: 3.16 M
Market Cap: $87 M
Total Assets: $360 M
Stockholders' Equity: $104 M
Revenues (ltm): $325 M
Net Income (ltm): $3.83 M
Q3 2023 Revenues: $91.5 M
Q3 2023 Net Income: $1.1 M
Chart source: barchart.com as of 12.01.2023; Equity Overview source: Yahoo Finance! as of 12.01.2023
Acquisition & Capital Allocation
5
Acquisition Strategy:
- Target companies with annual earnings between $5 and $50 million
- Closely held or family-founded businesses with a strong culture and management team that is looking to continue operating the business
- Companies with a defensible market position and track record of stable earnings and cash flow
- Companies in need of new ownership and outside capital to support growth, both organically and through acquisitions
- Value-orientedwith focus on accretive acquisitions
- Have retained all acquired companies to date
Capital Allocation Strategy
Capital
InvestmentM&A
Balance Sheet
Management
Differentiators
6
Long-term focused, | Strategic focus on | Value-oriented with |
Buy-Build-Hold | acquiring U.S.-based | focus on accretive |
strategy | middle market | acquisitions |
growth companies, | ||
industry-agnostic | ||
Patient capital with | Investment in | Growing, diversified |
opportunities to invest | existing platforms | portfolio |
through new platforms | (both organic and | |
bolt-on) |
Annual Revenue & Adjusted EBITDA Growth
7
24% CAGR | 23% CAGR |
$287 | $45 | |||||||||||||
$273 | $38 | |||||||||||||
$200 | $193 | $192 | $26 | |||||||||||
$23 | ||||||||||||||
$152 | ||||||||||||||
$18 | ||||||||||||||
$79 | $11 | $10 | ||||||||||||
FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | |
Revenue | Adjusted EBITDA | |||||||||||||
(in millions) | (in millions) |
See Appendix for a reconciliation of Net (loss) income to total Adjusted EBITDA for the periods indicated
Recent Financial Performance | 8 |
($ in millions, except per share)
Q3 FY 2023
Revenue | |
$91.5 | |
$68.3 | |
FY Q3 2022 | FYQ3 2023 |
Adjusted EBITDA
$8.8 | $9.6 |
FY Q3 2022 | FY Q3 2023 |
Diluted EPS
$1.11 | |
$0.33 | |
FY Q3 2022 | FY Q3 2023 |
Nine Months Ended June 30, 2023 FY 2023
Revenue | |
$251.6 | |
$213.1 | |
2022 | 2023 |
Adjusted EBITDA
$31.2 | $26.3 |
2022 | 2023 |
Diluted EPS
$8.01 | |
$1.42 | |
2022 | 2023 |
See Appendix for a reconciliation of Net income to total Adjusted EBITDA for the periods indicated.
Diverse Portfolio - 4 Main Platform Investments
$291M
9
Total Invested
YTD 2023 % of total Revenue by
Segment
Retail-Flooring 19.2% | Corporate 1.0% |
Retail-Entertainment 24.0% | |
Flooring Manufacturing | |
33.4% |
Steel Manufacturing 22.4%
YTD 2023 Adjusted EBITDA as % of
Revenue by Segment
Retail Flooring
Retail Entertainment
Flooring Manufacturing
Steel Manufacturing
0 | 5 | 10 | 15 | 20 |
See Appendix for a reconciliation of Net income to total Adjusted EBITDA for the periods indicated.
Portfolio Timeline
10
2015 acquired Marquis | 2016 acquired Vintage | 2020 acquired Precision | 2022 acquired The Kinetic | 2023 acquired Flooring |
Industries | Stock | Marshall | Co. | Liquidators; Harris Flooring |
Group; and Precision Metal | ||||
Works |
Flooring ManufacturingRetail EntertainmentSteel ManufacturingRetail Flooring
Live Ventures Consolidated Annual Revenue ($ Millions )
$200 | $193 | $192 | $273 | $287 | |||||||
$79 | $152 | ||||||||||
$33 | |||||||||||
FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | ||||
Annual Revenue | |||||||||||
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Live Ventures Incorporated published this content on 22 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2024 19:28:04 UTC.