Business
Liquidity Services Announces Fourth Quarter and Fiscal Year 2019 Financial Results
Consolidated Fourth Quarter GMV of $157.8 million -- Revenue of $58.8 million -- GAAP Net Loss of $(5.2) millionConsolidated Fourth Quarter Non-GAAP Adjusted
About this update from Liquidity Services, Inc.
[{"type":"text","content":"Consolidated Fourth Quarter GMV of $157.8 million -- Revenue of $58.8 million -- GAAP Net Loss of $(5.2) millionConsolidated Fourth Quarter Non-GAAP Adjusted EBITDA of $(0.8) millionFY-19 Consolidated Non-GAAP Adjusted EBITDA results marked $20.3 million improvement in Adjusted EBITDA over the past two yearsRISE growth strategy focused on launch of unified marketplace and expanded use of digital marketing and self-service technologies to increase seller volumes, buyer participation and recovery BETHESDA, Md., Dec. 10, 2019 (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 fourth quarter and fiscal year ended September 30, 2019. The company's Q4-FY19 performance reflected a strong quarter which was within guidance range for GMV, Adjusted EBITDA, and Adjusted EPS. GAAP Net Loss and GAAP EPS were below the guidance range.\n \"The execution of our RISE growth strategy, focused on four key pillars: Recovery maximization, Increasing sales, Service expansion and Expense leverage, continues to deliver strong benefits. Our Q4-FY19 results marked our sixth consecutive quarter of organic GMV growth, our second consecutive quarter of organic GAAP Revenue growth, and our eighth consecutive quarter of organic Non-GAAP Adjusted EBITDA improvement. Our strategy continues to deliver more efficient operations, more effective asset promotion which drives higher recovery, a broader choice of seller services, and an increased flow of assets from sellers in our Retail Supply Chain (RSCG) and GovDeals segments. In Q4-FY19, our RSCG segment GMV grew 18% through new and existing seller accounts and strong buyer participation. Our GovDeals segment grew 4% despite a strong comparative quarter in the prior year. Our Capital Assets Group (CAG) segment GMV declined 15% impacted by the conclusion of the DoD Scrap contract and weakness in the energy vertical. Adjusted EBITDA improved 60% over the prior year in Q4-FY19 and we had positive operating cash flow in Q4-FY19, reflecting top line growth and continued benefits from operational efficiencies, enhanced marketing, and organizational realignment efforts. Further, our FY-19 bottom line results marked a $20.3 million improve...