Business
Liquidity Services Announces Fourth Quarter and Fiscal Year 2021 Financial Results
BETHESDA, Md., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), a leading global commerce company providing
About this update from Liquidity Services, Inc.
[{"type":"text","content":"BETHESDA, Md., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), a leading global commerce company providing trusted marketplace platforms that power the circular economy, today announced its financial results as of the quarter ended September 30, 2021 as compared to the applicable comparable prior periods: Gross Merchandise Volume (GMV) of $244.4 million, up 24%, and Revenue of $70.3 million, up 26%GAAP Net Income of $32.8 million1, up $27.3 million1, which includes a $24.6 million tax benefit1Non-GAAP Adjusted EBITDA of $11.4 million, up $2.4 millionGAAP Diluted EPS of $0.931, up $0.771, which includes a $0.70 per share tax benefit1, and Non-GAAP Adjusted Diluted EPS of $0.26, up $0.03Cash of $106.3 million, $15.0 million of share repurchases in Q4-FY21, $65.4 million trailing 12-month operating cash flow, and zero debtTrailing 12-month GMV up 43%, Net Income of $50.9 million1, and Non-GAAP Adjusted EBITDA of $42.9 millionApproval of new $20.0 million share repurchase authorization \"Liquidity Services recorded outstanding growth during FY21, driven by strong demand from both new and existing customers for our e-commerce marketplace solutions which continue to power the circular economy benefiting businesses, society, and the environment. Our business is at the intersection of several powerful market forces and accordingly we are aggressively investing in our people, products and technology to support our near-term objective of scaling to $1.5 billion in annualized GMV. While these growth investments will pressure our near-term earnings, we expect to realize strong year-over-year growth for the full FY22 and beyond. We are pleased with the consistent execution of our team in support of our mission to build a better future for surplus as we closed FY21 with $886.7 million in GMV, up 43%, and delivered strong growth across all our segments resulting in strong profitability and cash generation. Looking forward to FY22, we are making several strategic investments to expand and scale the solutions we offer to large enterprises, small businesses and government agencies across the world. In our GovDeals segment, our acquisition of Bid4Assets broadens our online real estate solutions available to state and local government agencies. In our Retail Supply Chain Group (RSCG) segment, our new ...