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. (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets. With more than $10 billion in completed transactions, the platform connects over five million qualified buyers with 15,000 corporate and government sellers globally. Headquartered in Orlando, Florida, the company specializes in managing and selling inventory and equipment through a comprehensive network of online auction marketplaces.
Liquidity Services is divided into four main segments:
- GovDeals: Facilitates the sale of surplus assets for government entities.
- Capital Assets Group (CAG): Manages sales of capital assets for businesses.
- Retail Supply Chain Group (RSCG): Focuses on selling excess, returned, and overstocked consumer goods, primarily in the U.S. and Canada.
- Machinio: Provides a global online platform for buying and selling machinery and equipment.
The company's recent acquisition of Sierra Auction, a leading auction outlet in the southwestern U.S., enhances its capabilities in vehicle, equipment, and surplus asset sales. Liquidity Services supports sustainability by helping extend the life of assets, reduce waste, and minimize carbon emissions. With significant strides in mobile commerce, the company continues to expand its digital reach and market presence.
In Q1-FY24, Liquidity Services reported robust financials, with expected GMV ranging from $320 million to $350 million. The company aims to maintain its leadership by integrating acquired businesses and advancing online auction legislation for state and local governments. The firm's forward-looking approach includes focusing on mobile commerce and environmental impacts, ensuring long-term growth and value for its stakeholders.
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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