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Liquidity Services Inc (LQDT) SEC Filing 10-Q Quarterly report for the period ending Thursday, December 31, 2020

Liquidity Services Inc

CIK: 1235468 Ticker: LQDT

LIQUIDITY SERVICES ANNOUNCES FIRST QUARTER FISCAL YEAR 2021 FINANCIAL RESULTS
GMV of $190.4 million -- GAAP Revenue of $55.8 million -- GAAP Net Income of $4.5 million
Non-GAAP Adjusted EBITDA of $8.8 million
Continued adoption and use of Liquidity Services' safe and effective e-commerce marketplace platform drives 28% year-over-year growth in consolidated GMV
Year-over-year increase in GAAP Net Income of $9.7 million and Non-GAAP Adjusted EBITDA of $10.9 million

Bethesda, MD - February 4, 2021 -
Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), the world’s largest B2B e-commerce marketplace for business and government surplus, today announced financial results for the first quarter fiscal year 2021 ended December 31, 2020. The Company's Q1-FY21 performance reflected continued customer adoption of our safe and effective e-commerce solutions across all business segments as businesses and governments seek proven digital solutions to stay competitive.

"We are pleased with our continued momentum and how our marketplace solutions are resonating with both large enterprises and small businesses who are embracing our e-commerce platform. Our team has carefully listened to the needs of our customers and we continue to deliver the right tools, services and strong buyer liquidity to ensure sellers and buyers in every major sector of the economy successfully monetize assets. Through our domain expertise, innovative technology platform and integrated services we are driving the continued digital transformation within the retail, industrial and public sector supply chains which comprise a $100 billion market opportunity for Liquidity Services,” said Bill Angrick, Chairman and CEO of Liquidity Services. “Overall, our strategy and platform investments have yielded strong results to date and are well aligned to the needs of where the customer is going in the future in a changing landscape with higher e-commerce demand.

"Our e-commerce marketplace capabilities continue to drive strong recovery for sellers and have enabled us to scale our services quickly as more customers seek more efficient self-service solutions to manage surplus and returned goods in the supply chain. We are proud of the contributions by our team to continue to safely deliver outstanding results for our customers both in our fulfillment centers and remotely during the quarter,” continued Angrick.

“GMV in our GovDeals segment grew a record 36% over the prior year’s comparable quarter, as more government agencies utilized our digital platform to transact higher volumes across a larger breadth of key categories and our growing buyer base and automated asset promotion tools drove higher realized values through our marketplace. GMV in our Retail Supply Chain Group (RSCG) segment grew 30% over the prior year’s comparable quarter, as more large and SMB retail sellers utilized our platform resulting in higher transaction volumes on our marketplace.

"GMV in our Capital Assets Group (CAG) segment increased 5% year-over-year driven by continued growth of our heavy equipment category. Our Machinio segment grew revenue by 14% year-over-year as equipment owners and dealers continue to embrace our digital marketing solutions to acquire buyers at lower costs when compared to traditional marketing channels.

"We are seeing the benefits of increasing scale and are pleased with another quarter of strong Non-GAAP Adjusted EBITDA results and improved margins as we leverage our new marketplace platform. We are well positioned to help our customers address several macro trends, including the continued growth of online retail; the need for organizations of all sizes to embrace technology to drive supply chain efficiencies and monetize assets; and the increasing focus by business and government customers on sustainability," concluded Angrick.

The Company completed $4.1 million in share repurchases during Q1-FY21 and exited the quarter with a cash position of $77.8 million, a $1.8 million increase from Q4-FY20, and zero debt.



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The following information was filed by Liquidity Services Inc (LQDT) on Thursday, February 4, 2021 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 Income (Loss)
Consolidated Statements Of Operations
Business Realignment Expenses
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Defined Benefit Pension Plan (Tables)
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Goodwill - Changes In Goodwill (Details)
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Intangible Assets - Amortization (Details)
Intangible Assets - Carrying Amount (Details)
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Leases - Narrative (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings And Other Contingencies
Organization
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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)

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: 0001235468-21-000057
Submitted to the SEC: Thu Feb 04 2021 2:43:56 PM EST
Accepted by the SEC: Thu Feb 04 2021
Period: Thursday, December 31, 2020
Industry: Business Services

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