$LLYVB

Liberty Live Holdings, Inc.

CIK:0002078416|SEC Filings

Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue, net	$ 147,059	$ 138,603	$ 210,679	$ 185,662
Operating costs and expenses:
Cost of revenue	116,798	110,413	168,464	151,962
Selling, general and administrative expenses, including stock-based compensation	24,723	24,308	46,850	40,576
Depreciation and amortization	6,482	6,533	12,999	13,057
Operating costs and expenses, total	148,003	141,254	228,313	205,595
Operating income (loss)	(944)	(2,651)	(17,634)	(19,933)
Other income (expense):
Interest expense	(7,466)	(7,425)	(15,027)	(14,759)
Dividend and interest income	5,292	4,387	9,919	8,484
Share of earnings (loss) of affiliates, net (note 4)	82,529	71,445	(41,797)	72,896
Realized and unrealized gains (losses), net (note 3)	(423,647)	(288,725)	(653,279)	(305,824)
Other, net	1,452	233	(575)	(787)
Total other income (expense)	(341,840)	(220,085)	(700,759)	(239,990)
Earnings (loss) before income taxes	(342,784)	(222,736)	(718,393)	(259,923)
Income tax (expense) benefit	74,121	42,413	155,592	50,124
Net earnings (loss)	(268,663)	(180,323)	(562,801)	(209,799)
Net earnings (loss) attributable to Liberty Live Group	$ (268,663)	$ (180,323)	$ (562,801)	$ (209,799)
Net earnings (loss) per share
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Live Group shareholders per common share (note 2)	$ (2.92)	$ (1.96)	$ (6.12)	$ (2.28)
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Live Group shareholders per common share (note 2)	$ (2.92)	$ (1.96)	$ (6.12)	$ (2.28)
Non-related party
Total revenue, net	$ 146,999	$ 138,350	$ 210,145	$ 185,207
Operating costs and expenses:
Cost of revenue	97,391	87,191	139,010	126,625
Related party
Total revenue, net	60	253	534	455
Operating costs and expenses:
Cost of revenue	$ 19,407	$ 23,222	$ 29,454	$ 25,337

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings (loss)	$ (562,801)	$ (209,799)
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation and amortization	12,999	13,057
Stock-based compensation	4,951	1,943
Share of (earnings) losses of affiliate, net	41,797	(72,896)
Realized and unrealized (gains) losses on financial instruments, net	653,279	305,824
Deferred income tax expense (benefit)	(156,314)	(50,813)
Minimum guaranteed rightsholder relationships expense	4,496	4,940
Other noncash charges (credits), net	(718)	1,132
Changes in operating assets and liabilities
Decrease (increase) in accounts receivable	(5,885)	(15,477)
Decrease (increase) in prepaid expenses	(19,404)	(5,919)
Decrease (increase) in related party balances	(15,075)	(10,013)
Decrease (increase) in other assets	(7,239)	(6,501)
(Decrease) increase in trade accounts payable and accrued liabilities	10,129	8,399
(Decrease) increase in deferred revenue	36,688	7,227
(Decrease) increase in other liabilities	(1,613)	2,061
Net cash provided (used) by operating activities	(4,710)	(26,835)
Cash flows from investing activities:
Investments in equity securities		(3,331)
Other investing activities, net	155	(194)
Net cash provided (used) by investing activities	155	(3,525)
Cash flows from financing activities:
Bank fees on debt transactions	(8,264)
Withholding taxes on net settlements of stock-based compensation	(4,539)
Former Parent contribution (distribution)		2,136
Minimum guaranteed payments on rightsholder relationships	(4,908)	(4,162)
Other financing activities, net	478	173
Net cash provided (used) by financing activities	(17,233)	(1,853)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash	(357)	1,155
Net increase (decrease) in cash, cash equivalents and restricted cash	(22,145)	(31,058)
Cash, cash equivalents and restricted cash at beginning of period	545,494	409,506
Cash, cash equivalents and restricted cash at end of period	$ 523,349	$ 378,448

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 523,349	$ 545,494
Trade and other receivables, net of allowance for credit losses of $1,057 and $1,056, respectively	36,257	30,372
Prepaid assets	63,567	$ 44,163
Related party assets	$ 12,353
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related party	Related party
Other current assets	$ 16,989	$ 9,435
Total current assets	652,515	629,464
Investments in equity securities	163,794	162,066
Investments in affiliates, accounted for using the equity method (note 4)	569,528	624,278
Goodwill (note 5)	127,575	127,367
Intangible assets subject to amortization, net (note 5)	110,035	118,605
Deferred tax assets	344,376	183,944
Tax sharing asset with Liberty Media	37,570	35,845
Other assets, at cost, net of accumulated amortization	7,128	7,324
Total assets	2,012,521	1,888,893
Current liabilities:
Accounts payable	12,545	11,521
Accrued liabilities	45,438	36,436
Deferred revenue	192,083	154,997
Related party liabilities		2,722
Current portion of long-term debt, measured at fair value (note 6)	2,126,021	1,666,546
Financial instrument liabilities (notes 3 and 6)	213,916	20,265
Other current liabilities	5,082	4,234
Total current liabilities	2,595,085	1,896,721
Other liabilities	21,147	19,307
Total liabilities	2,616,232	1,916,028
Equity:
Additional paid-in capital	401,066	403,647
Retained earnings (deficit)	(999,887)	(437,086)
Accumulated other comprehensive earnings (loss), net of taxes	(27,756)	(16,561)
Total stockholders' equity (deficit)	(625,657)	(49,081)
Noncontrolling interests in equity of subsidiaries	21,946	21,946
Total equity (deficit)	(603,711)	(27,135)
Commitments and contingencies (note 8)
Total liabilities and equity	2,012,521	1,888,893
Series A Liberty Live Group common stock
Equity:
Common stock value	256	256
Series B Liberty Live Group common stock
Equity:
Common stock value	25	25
Series C Liberty Live Group common stock
Equity:
Common stock value	$ 639	$ 638