Liquidity Services, Inc.

Liquidity Services, Inc. Earnings Recaps

LQDT Consumer Discretionary 3 recaps
Q2 2026 May 8, 2026

Liquidity Services shares declined 2.8% following earnings, reflecting investor caution despite solid profit growth, likely due to muted GMV expansion in key segments and less upbeat growth in GovDeals amid weather disruptions.

Key takeaways
  • Consolidated segment direct profit rose 18% year over year, with adjusted EBITDA up 37%.
  • Retail segment GMV grew 10%, with direct profit up 29%, driven by higher consignment flows post-holiday season.
  • GovDeals reported only 5% GMV growth due to significant winter weather impacts, though direct profit increased 12%.
  • CAG segment GMV grew 3%, and direct profit increased 11%, supported by growth in high-margin consignment flows and a 36% increase in unique bidders.
  • The company ended the quarter with $204 million in cash and zero financial debt, while expanding its buyer base to 6.3 million registered buyers.
Full recap
Q1 2026 Feb 5, 2026

Liquidity Services, Inc. delivered a strong start to fiscal year 2026, with significant growth in adjusted EBITDA, direct profit, and cash reserves, reflecting the company's robust multichannel marketplace strategy.

Key takeaways
  • GAAP net income rose 29%, with adjusted EBITDA up 38% to $18.1 million, and adjusted EPS grew 39% to $0.39 per share year-over-year.
  • Consolidated gross merchandise volume (GMV) reached $398 million, driven by strong buyer participation and a record 500+ new agency clients for GovDeals.
  • Direct profit per labor hour surged over 48% year-over-year, showcasing improved operational efficiencies.
  • CAG segment revenue increased by 17%, fuelled by significant activity in heavy equipment transactions, while direct-to-consumer GMV surged 40%.
  • The platform now boasts 6.2 million registered buyers, reflecting enhanced engagement and market relevance, with plans for continued investment in technology and operational excellence.
Full recap
Q4 2025 Nov 20, 2025

Liquidity Services reported robust Q4 results, with significant year-over-year growth in key financial metrics driven by effective execution of its RISE strategy and expanding marketplace capabilities.

Key takeaways
  • Q4 GMV increased 12% year over year to $1.57 billion, while adjusted EBITDA rose 28% to $60.8 million, underscoring operational strength.
  • Adjusted EBITDA margins improved by over 310 basis points to 32.8%, reflecting a favorable shift towards higher-margin services.
  • Record achievement of 6 million registered buyers and 4.1 million auction participants highlights the platform's growing liquidity and appeal.
  • Fiscal 2025 revenues reached nearly $477 million, up 31% year over year, driven by diversification across all business segments.
  • Continued innovation with new software solutions and tools is expected to further enhance operational efficiencies and drive growth in existing markets.
Full recap