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Liquidity Services Inc (LQDT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Liquidity Services Inc

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CIK: 1235468 Ticker: LQDT

PIONEERING SOLUTIONS WITHIN GROWING CIRCULAR ECONOMY FUEL STRONG THIRD QUARTER RESULTS FOR LIQUIDITY SERVICES

Bethesda, MD - August 5, 2021 -
 Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), the world’s largest B2B e-commerce marketplace for business and government surplus, today announced the following financial results as of the quarter ended June 30, 2021 as compared to the applicable comparable prior periods:

•Gross Merchandise Volume (GMV) of $244.7 million, up 88%, and Revenue of $69.7 million, up 46%
•GAAP Net Income of $8.4 million, up $8.2 million, and Non-GAAP Adjusted EBITDA of $13.3 million, up $9.7 million
•GAAP Diluted EPS of $0.24, up $0.23, and Non-GAAP Adjusted Diluted EPS of $0.31, up $0.26
•Cash of $112.7 million, up $25.1 million from Q2-FY21, $61.5 million trailing 12 month operating cash flow, and zero debt
•Trailing 12 month GMV up 45%, Net Income of $23.6 million, Non-GAAP Adjusted EBITDA of $40.5 million

"Our pioneering e-commerce marketplace solutions continue to power the $100 Billion+ circular economy and our triple bottom line, which benefits businesses, communities and the environment. We achieve this through our safe and effective resale and redeployment of surplus assets; our reduction of waste; and by creating markets for items that might otherwise have been landfilled. During the quarter we enabled a growing number of large enterprises, small businesses and government entities across the world to realize meaningful financial benefits and advance their sustainability programs. Our Q3-FY21 results reflect continued strong growth across each of our segments fueled by our scalable marketplace platform, software and expert services," said Bill Angrick, Chairman and CEO of Liquidity Services.

“GMV in our GovDeals segment grew 152% over the prior year’s comparable quarter, driven by the increasing adoption of our digital marketplace solutions by government agencies over traditional sales methods for a broader array of assets, including vehicles, heavy equipment and real estate, coupled with the re-opening of the economy. GMV in our Retail Supply Chain Group (RSCG) segment grew 36% over the prior year’s comparable quarter, as large and SMB retail sellers expanded their use of our digital marketplaces and reverse supply chain solutions to capitalize on the secular growth of e-commerce. GMV in our Capital Assets Group (CAG) segment increased 37% over the prior year's comparable quarter, driven by customer adoption of our online platform for the sale of heavy equipment, energy and bio-pharma assets in North America, and strong consignment sales events in Asia-Pacific. Our Machinio segment grew revenue by 38% over the prior year's comparable quarter, as equipment owners and dealers continue to demonstrate strong engagement with our digital marketing and inventory management solutions.

"Our newest marketplace, AllSurplus.com, also continued to thrive as new buyer registrations on the platform grew nearly 150% from a year ago, fueling strong GMV growth and price realization for sellers in key asset categories such as transportation, construction, real estate, consumer goods and biopharma. Our nearly 4 million registered buyers, including small businesses and entrepreneurs, continued to benefit from their access to a global supply of inventory and equipment which, in turn, has allowed them to grow their businesses and contribute to the prosperity of their local communities," concluded Angrick.




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The following information was filed by Liquidity Services Inc (LQDT) on Thursday, August 5, 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
Business Realignment Expenses (Tables)
Business Realignment Expenses - Restructuring Related Costs (Details)
Defined Benefit Pension Plan
Defined Benefit Pension Plan (Details)
Defined Benefit Pension Plan (Tables)
Defined Benefit Pension Plan - Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurement
Fair Value Measurement - Narrative (Details)
Goodwill
Goodwill (Tables)
Goodwill - Changes In Goodwill (Details)
Income Taxes
Income Taxes (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Amortization (Details)
Intangible Assets - Carrying Amount (Details)
Intangible Assets - Narrative (Details)
Leases
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
Organization
Organization (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (Details)
Segment Information - Reconciliation Of Revenue (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Fair Value (Details)
Stockholders' Equity - Grant Activity (Details)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Stockholders' Equity (Details)
Stockholders' Equity - Stock Based Compensation Expense (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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: LQDT
CIK: 1235468
Form Type: 10-Q Quarterly Report
Accession Number: 0001235468-21-000140
Submitted to the SEC: Thu Aug 05 2021 3:42:17 PM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Business Services

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