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Liquidity Services Inc (NASDAQ: LQDT) maintains its position as a leader in surplus asset management through innovative online auction platforms. This news hub provides investors and industry professionals with essential updates about the company's marketplace operations, sustainability initiatives, and strategic developments.
Access real-time information about earnings announcements, partnership agreements, and technological advancements across LQDT's key segments including GovDeals and Retail Supply Chain Group. Our curated collection ensures you never miss critical updates about this circular economy enabler's role in transforming asset recovery markets.
Discover official press releases detailing new marketplace features, operational expansions, and corporate governance updates. All content undergoes strict verification to maintain compliance with financial reporting standards while preserving accessibility for both retail and institutional investors.
Bookmark this page for continuous access to LQDT's verified news stream. Check back regularly to stay informed about this innovative company's progress in building sustainable e-commerce solutions for surplus asset management.
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.
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.
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.
Liquidity Services (NASDAQ: LQDT) reported strong financial results for Q1 FY22, with Gross Merchandise Volume (GMV) reaching a record $260.2 million, up 37% year-over-year. Revenue increased 20% to $66.7 million. However, GAAP Net Income declined to $3.6 million, down from $4.5 million, reflecting a higher effective tax rate. Non-GAAP Adjusted EBITDA grew to $9.4 million, while Adjusted EPS remained flat at $0.18. The company remains optimistic about future growth, projecting GMV to rise between 25% to 40% in Q2 FY22, despite potential impacts from global supply chain disruptions.
Liquidity Services (NASDAQ:LQDT) announced the retention of Three Part Advisors, LLC for a strategic investor relations program aimed at enhancing investor awareness and education. CEO Bill Angrick highlighted the company's strong performance and set a new annualized GMV target of $1.5 billion, reflecting the growing interest in their services from enterprises and government entities. With over $1 billion in annual GMV already achieved, the company’s scalable marketplace platform positions it well in the $100 billion circular economy market.
Liquidity Services (NASDAQ:LQDT) announced it will report financial results for Q1 fiscal year 2022 on February 3, 2022, at 10:30 a.m. ET. The report will cover the period ending December 31, 2021. This event will be hosted by Bill Angrick, Chairman and CEO, and Jorge Celaya, EVP and CFO. Investors can join the earnings call via telephone or access a live webcast on the company’s investor relations website. An archive will be available on the site until February 3, 2023.
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