Business
Liquidity Services Announces First Quarter Fiscal Year 2020 Financial Results
GMV of $148.6 million -- GAAP Revenue of $49.5 million -- GAAP Net Loss of $5.2 millionNon-GAAP Adjusted EBITDA of $(2.1) millionLaunch of unified marketplace
About this update from Liquidity Services, Inc.
[{"type":"text","content":"GMV of $148.6 million -- GAAP Revenue of $49.5 million -- GAAP Net Loss of $5.2 millionNon-GAAP Adjusted EBITDA of $(2.1) millionLaunch of unified marketplace for industrial sellers expands opportunity and provides a superior user experience BETHESDA, Md., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), 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.\n \"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 acc...