Liquidity Services, Inc. operates e-commerce marketplaces and software solutions for surplus assets, returned goods, overstock inventory, and used equipment. Company news commonly covers quarterly financial results, gross merchandise volume, revenue, transaction margins, buyer participation, and operating leverage across its marketplace platform.
Recurring updates also address segment activity in GovDeals, the Retail Supply Chain Group, Capital Assets Group, Machinio, and Software Solutions. News may include developments in government and corporate surplus sales, retail returns and overstock channels, heavy-equipment marketplaces, dealer management software, and Retail Rush consumer auction activity tied to buy-online, pick-up-in-store sales.
Liquidity Services reports a record Gross Merchandise Volume (GMV) of $325.0 million for Q3 FY22, a 33% increase year-over-year, alongside revenue of $69.9 million, consistent with the previous year. GAAP net income rose to $16.4 million ($0.50/share), propelled by a $11.5 million non-cash reduction in an earn-out liability. Non-GAAP adjusted EBITDA was $11.9 million, down 11% from the prior year. The company maintains a cash balance of $88.3 million and zero debt, with ongoing efforts to achieve a $1.5 billion annualized GMV target.
Liquidity Services (LQDT) has announced the opening of a new 100,000 square-foot warehouse in Hebron, Kentucky, enhancing its capacity to support retail clients in need of sustainable inventory solutions. This expansion aims to help retailers manage high inventory levels amid declining sales while offering buyers access to overstock and returned items through Liquidation.com. The facility will lower transportation costs and provide quicker delivery to the Midwest and Southern regions, addressing challenges posed by recent economic conditions.
Liquidity Services (NASDAQ:LQDT) will release its third quarter fiscal year 2022 results, covering the period ended June 30, 2022, on August 4, 2022, at 10:30 a.m. Eastern Time. The earnings report will be available before the market opens on the same day. The event will be hosted by CEO Bill Angrick and CFO Jorge Celaya. Interested parties can participate via teleconference by dialing the provided numbers. A live web cast and an archive of the call will be accessible on their investor relations site until August 4, 2023.
Liquidity Services to Attend Key Conferences
On June 15 and June 22, 2022, Liquidity Services (Nasdaq: LQDT) will present at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Conference and the East Coast IDEAS Conference, respectively. CEO Bill Angrick will lead both presentations, discussing the company's role in the circular economy. The presentations will be available for registered attendees and can be accessed through their respective event pages. Liquidity Services has executed over $9 billion in transactions, serving more than 4.7 million buyers worldwide.
Liquidity Services is auctioning two Bell 407GX helicopters on its AllSurplus online marketplace until June 23, 2022. Each helicopter has undergone 2,893 and 2,828 flying hours respectively, featuring Rolls Royce 250-C47b engines. Bidders must place a refundable $5,000 deposit to participate. This auction exemplifies Liquidity Services’ commitment to sustainability and the circular economy, leveraging its global network of over 4.7 million buyers and 15,000 sellers to facilitate asset transactions.
Liquidity Services, in partnership with Apex Auctions, has been selected by a North American energy company to auction over 5,000 items from a canceled project. The assets, which include valves and power generation equipment, will be available on the AllSurplus online marketplace. This initiative is expected to reduce lead times amidst a tight supply in the energy sector.
Liquidity Services (NASDAQ: LQDT) announced participation in the Barrington Research Spring Investment Conference on May 19, 2022. Co-Founder and CEO Bill Angrick, along with CFO Jorge Celaya, will meet with investors to discuss the company's innovative e-commerce solutions. Liquidity Services is the largest B2B platform for surplus assets, with over $9 billion in completed transactions supporting sustainability and circular economy initiatives.
Liquidity Services reported record quarterly Gross Merchandise Volume (GMV) of $276.9 million, representing a 34% increase year-over-year, alongside a 11% rise in revenue to $68.3 million. GAAP net income reached $12.0 million, up $6.7 million from the previous year, and GAAP diluted EPS was $0.35, an increase of $0.20. The total GMV for the trailing twelve months surpassed $1 billion, a 42% gain, driven by growth in high-value categories.
Liquidity Services (NASDAQ:LQDT) will report its Q2 FY2022 earnings on May 5, 2022, at 10:30 a.m. ET, following the close of the fiscal quarter on March 31, 2022. The earnings press release will be available before the market opens on the same day. CEO Bill Angrick and CFO Jorge Celaya will host a teleconference accessible via phone or the company's investor relations website. A recorded version will be posted for one year, ensuring ongoing accessibility for investors.
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