Business
Pioneering Solutions Within Growing Circular Economy Fuel Strong Third Quarter Results for Liquidity Services
BETHESDA, M.D., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT; www.liquidityservices.com), the world’s largest B2B e-commerce marketplace
About this update from Liquidity Services, Inc.
[{"type":"text","content":"BETHESDA, M.D., Aug. 05, 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 the following financial results as of the quarter ended June 30, 2021 as compared to the applicable comparable prior periods: Gross Merchandise Volume (GMV) of $244.7 million, up 88%, and Revenue of $69.7 million, up 46%GAAP Net Income of $8.4 million, up $8.2 million, and Non-GAAP Adjusted EBITDA of $13.3 million, up $9.7 millionGAAP Diluted EPS of $0.24, up $0.23, and Non-GAAP Adjusted Diluted EPS of $0.31, up $0.26Cash of $112.7 million, up $25.1 million from Q2-FY21, $61.5 million trailing 12 month operating cash flow, and zero debtTrailing 12 month GMV up 45%, Net Income of $23.6 million, Non-GAAP Adjusted EBITDA of $40.5 million \"Our pioneering e-commerce marketplace solutions continue to power the $100 Billion+ circular economy and our triple bottom line, which benefits businesses, communities and the environment. We achieve this through our safe and effective resale and redeployment of surplus assets; our reduction of waste; and by creating markets for items that might otherwise have been landfilled. During the quarter we enabled a growing number of large enterprises, small businesses and government entities across the world to realize meaningful financial benefits and advance their sustainability programs. Our Q3-FY21 results reflect continued strong growth across each of our segments fueled by our scalable marketplace platform, software and expert services,\" said Bill Angrick, Chairman and CEO of Liquidity Services. “GMV in our GovDeals segment grew 152% over the prior year’s comparable quarter, driven by the increasing adoption of our digital marketplace solutions by government agencies over traditional sales methods for a broader array of assets, including vehicles, heavy equipment and real estate, coupled with the re-opening of the economy. GMV in our Retail Supply Chain Group (RSCG) segment grew 36% over the prior year’s comparable quarter, as large and SMB retail sellers expanded their use of our digital marketplaces and reverse supply chain solutions to capitalize on the secular growth of e-commerce. GMV in our Capital Assets Group (CAG) segment increased 37% over the prior year's comparable quarter, dr...