Liquidity Services Inc (LQDT) SEC Filing 10-Q Quarterly report for the period ending Tuesday, December 31, 2019

Liquidity Services Inc

CIK: 1235468 Ticker: LQDT

GMV of $148.6 million -- GAAP Revenue of $49.5 million -- GAAP Net Loss of $5.2 million
Non-GAAP Adjusted EBITDA of $(2.1) million
Launch of unified marketplace for industrial sellers expands opportunity and provides a superior user experience

Bethesda, MD - February 6, 2020 -
Liquidity Services (NASDAQ: LQDT;, a global solution provider in the reverse supply chain with the world’s largest marketplace for business surplus, today announced financial results for the first quarter fiscal year 2020 ended December 31, 2019. The Company's Q1-FY20 performance was within the guidance range for all metrics including Gross Merchandise Volume (GMV), GAAP Net Loss, GAAP EPS, Non-GAAP Adjusted EBITDA and Non-GAAP Adjusted EPS.

"During our first quarter fiscal year 2020, the majority of our business performed well as our Retail Supply Chain Group (RSCG), GovDeals and Machinio segments continued to expand their market share while our Capital Assets Group (CAG) segment performed below expectations. Our RSCG segment GMV grew 12% over the prior year period marking our tenth consecutive quarter of double-digit year-over-year GMV growth in this segment, as we continue to deliver significant value to our retail and consumer brand manufacturer sellers and buyers. Our core GovDeals segment GMV grew 5% and we signed over 300 new agency clients as we added market share in California, Minnesota, New York, Oregon and Texas. Our Machinio segment revenue grew 85% over the prior year period as we continued to expand our data driven solutions for the marketing and sale of industrial equipment including: machine tools, construction and agricultural equipment, commercial trucks, and biopharma assets,” said Bill Angrick, Chairman and CEO of Liquidity Services.

"Our CAG segment GMV declined 36% versus the prior year period and was impacted by the wind down of our DoD Scrap contract and softness in our energy and industrial verticals in the Americas and Asia Pacific regions. We have launched a new self-directed offering for industrial sellers and are in the process of migrating more of our existing CAG sellers from our fully-managed solutions to our self-directed platform solutions and have had early positive response as customers have greater control and flexibility over the timing of their sales, reduced costs, and access to the power of our 3.6 million registered buyers," continued Angrick.

In support of our RISE strategy, which is focused on recovery maximization, increasing sales, service expansion and expense leverage, we have activated the beta version of our new, unified marketplace which consolidates all asset listings from our legacy CAG marketplaces which includes and Buyers can now find, bid on and buy all assets from our CAG industrial sellers in a single marketplace with a superior user experience. As we complete this marketplace consolidation we anticipate gaining marketing and operational efficiencies that will enhance the value we deliver for sellers and buyers.

“We are excited by the opportunities to leverage the investments we’ve made in our marketplace platform, data driven marketing tools, and domain expertise to grow asset light services with recurring revenue characteristics in multiple verticals and geographies. We anticipate improved growth for the remainder of FY20 as a direct result of these investments,” continued Angrick.

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The following information was filed by Liquidity Services Inc (LQDT) on Thursday, February 6, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Liquidity Services Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Business Realignment Expenses
Business Realignment Expenses (Tables)
Business Realignment Expenses - Business Realignment Expenses (Details)
Business Realignment Expenses - Restructuring Related Costs (Details)
Defined Benefit Pension Plan
Defined Benefit Pension Plan (Details)
Defined Benefit Pension Plan (Tables)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Change In Level 3 Assets (Details)
Fair Value Measurement - Narrative (Details)
Goodwill (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Amortization (Details)
Intangible Assets - Carrying Amount (Details)
Intangible Assets - Narrative (Details)
Leases (Tables)
Leases - Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings And Other Contingencies
Legal Proceedings And Other Contingencies (Details)
Organization (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (Details)
Segment Information - Reconciliation Of Revenue (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Grant Activity (Details)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Performance Obligations (Details)

Material Contracts, Statements, Certifications & more

Liquidity Services Inc provided additional information to their SEC Filing as exhibits

Ticker: LQDT
CIK: 1235468
Form Type: 10-Q Quarterly Report
Accession Number: 0001235468-20-000055
Submitted to the SEC: Thu Feb 06 2020 2:42:22 PM EST
Accepted by the SEC: Thu Feb 06 2020
Period: Tuesday, December 31, 2019
Industry: Business Services

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