Welcome to our dedicated page for Liquidity Services news (Ticker: LQDT), a resource for investors and traders seeking the latest updates and insights on Liquidity Services stock.
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 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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Liquidity Services (NASDAQ: LQDT) has announced a new initiative to support Ukrainian relief efforts amid the ongoing humanitarian crisis. The company is committed to matching all contributions from employees and marketplace participants to Mercy Corps. Additionally, it will donate $25,000 to five organizations aiding displaced Ukrainians.
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Liquidity Services (Nasdaq: LQDT) has secured a new credit facility with Wells Fargo Bank, providing revolving loans up to $25 million, with a $10 million sublimit for standby letters of credit. This facility, expiring on March 31, 2024, aims to enhance liquidity and support growth initiatives following a 45% increase in Gross Merchandise Value (GMV) and $61.3 million in operating cash flow in the past year. The interest rate on advances will range from 1.25% to 1.75% above the Daily Simple SOFR rate.
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