Business
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 millionNon-GAAP Adjusted EBITDA of $8.8 millionContinued adoption and use of
About this update from Liquidity Services, Inc.
[{"type":"text","content":"GMV of $190.4 million -- GAAP Revenue of $55.8 million -- GAAP Net Income of $4.5 millionNon-GAAP Adjusted EBITDA of $8.8 millionContinued adoption and use of Liquidity Services' safe and effective e-commerce marketplace platform drives 28% year-over-year growth in consolidated GMVYear-over-year increase in GAAP Net Income of $9.7 million and Non-GAAP Adjusted EBITDA of $10.9 million BETHESDA, Md., Feb. 04, 2021 (GLOBE NEWSWIRE) -- 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 gr...