Business
Liquidity Services Announces Third Quarter Fiscal Year 2022 Financial Results
Record Quarterly GMV Results up 33% Fueled by Real Estate and High Value Equipment BETHESDA, Md., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Liquidity Services
About this update from Liquidity Services, Inc.
[{"type":"text","content":"Record Quarterly GMV Results up 33% Fueled by Real Estate and High Value Equipment\nBETHESDA, Md., Aug. 04, 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 third fiscal quarter ended June 30, 2022 as compared to the applicable prior year periods: Gross Merchandise Volume (GMV) of $325.0 million, up 33%, setting a new record, and Revenue of $69.9 millionGAAP Net Income of $16.4 million1, up $8.0 million, and GAAP Diluted EPS of $0.501, up $0.26Non-GAAP Adjusted EBITDA of $11.9 million and Non-GAAP Adjusted Diluted EPS of $0.21, down $1.5 million and $0.11, respectivelyCash balance of $88.3 million with zero debt, $5.4 million of shares repurchased in the quarter, trailing 12-month operating cash flow of $42.2 millionTrailing 12-month GMV of $1.1 billion, up 32%, GAAP Net Income of $64.7 million1,2, Non-GAAP Adjusted EBITDA of $41.8 million \"Our marketplace platform continues to deliver important supply chain efficiencies for our clients and helps them navigate a volatile economic environment. Our outstanding buyer participation and flexible service offerings have enabled sellers to smartly manage and monetize inventory with speed, reliability and excellent recovery during Q3, as we continued to scale our business towards our objective of $1.5 billion in annualized GMV. We remain focused on driving marketplace growth by providing outstanding service, value to our customers, and extending the lives of assets in every product category throughout their global supply chains,\" said Bill Angrick, Liquidity Services CEO. Third Quarter Business Highlights Our Retail Supply Chain Group (RSCG) segment expanded its footprint with a new distribution center in Kentucky, increasing its capacity to efficiently serve a more diversified set of retail buyers and sellers in the midwestern and southern U.S.Our Capital Assets Group (CAG) segment continues its market leadership in the energy supply chain, including an auction of assets from a major oil pipeline project that reduced lead times for energy producers building or expanding production capacity in North America.Liquidity Services' expanded its presence in the government facilitated real esta...