Business
Liquidity Services Announces Second Quarter Fiscal Year 2022 Financial Results
Record Quarterly GMV Results Fueled by Gains in High Value Equipment and Real Estate Categories$1 Billion Annual GMV Milestone Achieved Driven by a 23%
About this update from Liquidity Services, Inc.
[{"type":"text","content":"Record Quarterly GMV Results Fueled by Gains in High Value Equipment and Real Estate Categories$1 Billion Annual GMV Milestone Achieved Driven by a 23% Increase in Registered Buyers BETHESDA, Md., May 05, 2022 (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 the following financial results as of the second fiscal quarter ended March 31, 2022 as compared to the applicable prior year periods: Gross Merchandise Volume (GMV) of $276.9 million, up 34%, setting a new record, and Revenue of $68.3 million, up 11%GAAP Net Income of $12.0 million1, up $6.7 million, and GAAP Diluted EPS of $0.351, up $0.20Non-GAAP Adjusted EBITDA of $9.2 million, down $0.2 million, and Non-GAAP Adjusted Diluted EPS of $0.17, down $0.03Cash of $84.3 million, $17.0 million of shares repurchased in the quarter, $48.7 million trailing 12-month operating cash flow, and zero financial debtTrailing 12-month GMV over $1.0 billion, up 42%, Net Income of $56.7 million1,2, Non-GAAP Adjusted EBITDA of $43.3 million \"In the quarter, we set another quarterly GMV record and eclipsed the $1.0 billion+ GMV milestone on a trailing 12-month basis, as our trusted marketplace platforms, flexible service models, and worldwide reach are providing our buyers and sellers with key benefits as they respond to challenges in global supply chain operations. We continue to execute on our growth initiatives targeting categories such as heavy equipment, vehicles, industrial and consumer goods, and real estate to drive us towards our objective of $1.5 billion in annualized GMV,\" said Bill Angrick, Liquidity Services CEO. Second Quarter Business Highlights Liquidity Services issued its 2022 ESG Report, detailing its important role in powering the circular economy via its e-commerce platforms to redeploy valuable surplus assets and divert millions of tons of returned goods away from landfills.Liquidity Services received the 2021 Value in Excellence Award from ADM (NYSE:ADM). The award program honors company suppliers that deliver superior performance and exceptional value to ADM and its customers.Liquidity Services’ leadership role in the circular economy was profiled in a feature broadcast by CNBC entitled: “Inside the Company at the Ce...