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.
BETHESDA, Md., May 14, 2020 – Liquidity Services (NASDAQ: LQDT) has partnered with a top manufacturer to auction surplus electrical panelboard production equipment from a closed facility in Peru, IN. The two-day no-reserve auction starts on May 20, 2020, featuring over 500 assets, including turret and hydraulic presses. Key items include five Amada turret presses and Cincinnati press brakes. The auction offers buyers a chance to acquire quality manufacturing equipment at competitive prices.
Liquidity Services reported Q2 FY2020 results with a GAAP revenue of $52.8 million, down from $56.8 million year-over-year. The GAAP net loss was $4.2 million, representing a slight improvement from a loss of $4.4 million in the previous year. Gross Merchandise Volume (GMV) decreased by 7.1% to $144.3 million. Despite the challenges posed by the COVID-19 pandemic, the RSCG segment reported a 6% GMV growth, while the CAG segment saw a 28% decline. The company ended the quarter with a cash position of $51.8 million and zero debt.
AllSurplus, a new marketplace from Liquidity Services (LQDT), is showcasing eight cranes available for sale, with bidding open until early July. Currently, AllSurplus lists over 8,000 assets and has facilitated sales totaling over $1.5 billion in heavy equipment over two decades. Michael Smith, senior director of heavy equipment sales, noted the favorable economic climate for investing in projects due to low interest rates and government stimulus. AllSurplus simplifies the purchasing process with an immediate Buy Now option. Visit AllSurplus.com for more details.
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