Group 1 - Liquidity Services expects to report its second quarter fiscal year 2024 results on May 9, 2024, prior to market open [1] - The conference call to review the results will be hosted by Bill Angrick, Chairman and CEO, and Jorge Celaya, EVP and CFO, at 10:30 AM Eastern Time [1] - A live webcast of the conference call will be available on the company's investor relations site, with an archive accessible until May 9, 2025 [1] Group 2 - Liquidity Services operates the world's largest B2B e-commerce marketplace platform for surplus assets, with over $10 billion in completed transactions [2] - The company serves more than five million qualified buyers and 15,000 corporate and government sellers globally [2] - Liquidity Services supports sustainability efforts by extending the life of assets and reducing waste and carbon emissions [2]

TOWANDA, Pa., March 19, 2024 (GLOBE NEWSWIRE) -- Bid4Assets, the leading online marketplace for distressed real estate auctions, has been selected by the Bradford County, Pennsylvania Sheriff's Office to host the county's first-ever virtual sheriff's sale. The first sale will be held on March 27, 2024, with two properties scheduled for sale. Interested bidders will be required to create a free Bid4Assets account and submit a $1,000 deposit by March 20. By moving online, the sheriff's office intends to strea ...

Core Insights - Liquidity Services is partnering with RemArms to auction equipment and materials from the closure of the Ilion, New York manufacturing plant, which is the longest-operating firearms manufacturing site in the U.S. [1] - The strategic move involves relocating manufacturing operations to a modern facility in LaGrange, Georgia, with over 600 arms manufacturing assets available for auction on AllSurplus.com [1][2] - The auctions feature high-value equipment, including a turn-key Metal Injected Molded and Pressed Metal operation, OKK horizontal machining centers, and an Unisig drilling machine [2] Company Overview - AllSurplus is recognized as the world's leading online marketplace for surplus business assets, offering a range of equipment from heavy machinery to industrial tools [3] - The platform allows sellers to launch and manage listings quickly with more control and lower fees compared to traditional auction methods [3] - Liquidity Services, the parent company of AllSurplus, has a strong reputation in the surplus industry, having supported millions of customers globally [3]

BETHESDA, Md., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced the publication of its 2024 Environmental, Social, and Governance (ESG) Report. The report showcases the Company's progress towards creating a better future for organizations, individuals, and the planet. "The circular economy's necessity has never been greater and will only continue to grow as more organizations recognize its potential and power ...

Liquidity Services, Inc. (NASDAQ:LQDT) Q1 2024 Results Conference Call February 8, 2024 10:30 AM ET Company Participants Bill Angrick - Chairman & Chief Executive Officer Jorge Celaya - Executive Vice President & Chief Financial Officer Conference Call Participants Gary Prestopino - Barrington Research George Sutton - Craig-Hallum Operator Welcome to the Liquidity Services Inc. First Quarter Fiscal Year 2024 Financial Results Conference Call. My name is Norma, and I'll be your operator for today's call. Ple ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-51813 A Better Future for Surplus LIQUIDITY SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 52-2 ...

BETHESDA, Md., Jan. 19, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced Asia-based multinational corporation XCMG E-commerce Inc has selected Machinio, one of the leading global online platforms for buying and selling machinery and equipment, to facilitate the sale of more than 6,000 refurbished construction machinery assets as part of its ‘Reconditioned Machine' refurbishment program. XCMG E-commerce Inc is a subsid ...

CALDWELL, N.J., Jan. 12, 2024 (GLOBE NEWSWIRE) -- GovDeals is pleased to announce that the Borough of Caldwell,   Cape May County, and Dennis Township in New Jersey, have all joined more than 15,000 GovDeals sellers to offer their surplus real estate for sale to the public on its leading online marketplace for government agencies and educational institutions to sell surplus assets. By choosing to sell these properties online, these agencies can expose them to a wider range of potential buyers, resulting in ...

Financial Data and Key Metrics Changes - Liquidity Services concluded fiscal year 2023 with a record GMV of $1.2 billion, up 5% year-over-year, and revenue grew to $314.5 million, up 12% [13] - GAAP net income for the year was $21 million, a 33% increase when excluding nonrecurring gains from the prior year, while overall it was down 48% due to that gain [13] - Non-GAAP adjusted EBITDA increased by 7% to $45.9 million, the highest in nine years [13] Business Line Data and Key Metrics Changes - The retail segment's GMV grew 18% organically to $74.7 million, with direct profit increasing by 4% year-over-year [7] - The GovDeals segment's GMV rose 14% year-over-year to $184 million, with revenue and direct profit also increasing by 13% [9][15] - The CAG segment saw a 4% decline in GMV but a 9% increase in direct profit, driven by strong sales in biopharma, energy, and heavy equipment categories [10][16] - Machinio's revenue and direct profit grew by 15%, reflecting increased subscriptions and active listings [11][16] Market Data and Key Metrics Changes - The overall market environment has been challenging due to inflation and tightening by the Fed, impacting consumer spending [5] - The retail segment is experiencing a shift towards lower-value products, affecting profit margins [29] Company Strategy and Development Direction - The company is focused on consolidating its market position and expanding its service offerings, particularly in the retail sector [8][38] - Investments are being made in technology and sales to enhance marketplace capabilities and drive long-term growth [12][32] - The company is exploring potential acquisitions to strengthen its market presence [40] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging economic environment with consumers shifting spending habits, impacting the mix of goods sold [29][43] - There is optimism about future growth opportunities, particularly in the heavy equipment and biopharma sectors [10][32] - The company anticipates a strong post-holiday demand as retailers may have excess inventory [29] Other Important Information - The company ended the quarter with $118 million in cash and no debt, providing financial flexibility for future investments [12] - The first quarter of fiscal year 2024 guidance expects GMV to range from $295 million to $325 million, with GAAP net income projected between $1.5 million and $4 million [20] Q&A Session Summary Question: Did you repurchase any shares this quarter? - Management indicated that there was none to very little share repurchase this quarter due to funding growth and exploring partnerships [22][23] Question: What was the percentage of consignment sales in GMV for the quarter? - Approximately 87% of GMV was under the consignment model, up from 82% in the prior year [26] Question: Why is direct profit not growing as dramatically as revenue in the retail segment? - The lower direct profit growth is attributed to a higher volume of consignment sales with lower fees and a shift in consumer purchasing behavior towards lower-value items [28][29] Question: Where will the increase in expenses come from in Q1? - The increase in expenses is expected mainly in capacity and sales, with a disciplined approach to marketing [31][32] Question: Can you elaborate on the opportunity for consolidation in the retail space? - Management highlighted a unique opportunity to consolidate market position due to the disintegration of smaller players and increased demand for their services [38][39]

Buyer and Market Growth - The number of registered buyers increased from 4.9 million to 5.1 million, representing a growth of 5%[9] - The registered buyer base grew by 4.8%, adding 234,000 new buyers in fiscal 2023[25] - As of September 30, 2023, the company had 5.1 million registered buyers in its marketplaces, with a 4.8% increase in the registered buyer base, adding approximately 234,000 buyers during fiscal 2023[25] - Approximately 3.3 million auction participants engaged in online auctions during the year ended September 30, 2023[25] Financial Performance - Gross merchandise volume (GMV) for the year ended September 30, 2023, was $1.2 billion, with total revenue of $314.5 million[9] - GMV has grown at a compound annual growth rate of 13.9% since 2018[9] - The global reverse logistics market is projected to reach $958 billion by 2028, growing at a compound annual growth rate of 5.6% from 2021 to 2028[15] - The retail industry experiences approximately $816 billion in merchandise returns annually, equating to nearly 18% of total sales[16] - Liquidity Services estimates that at least $100 billion of returned merchandise is moved through secondary markets[16] - The global used equipment market is valued at approximately $350 billion[16] Marketplace and Service Offerings - The company provides access to over 600 product categories, facilitating a continuous flow of surplus assets for buyers[23] - The company aims to maximize sellers' net recovery through channel strategies and dedicated programs[22] - The company operates multiple marketplace brands, serving various industries and product categories, including consumer goods, capital assets, and machinery[42][44] - The AllSurplus marketplace aggregates assets globally, enhancing buyer experience through mobile optimization and machine learning-driven recommendations[32][33] - The AllSurplus marketplace, launched in fiscal year 2020, connects the global buyer base with assets from across the company's network, enhancing the buyer experience through technology and innovation[45] - The company provides value-added services to sellers, including merchandising and channel optimization, logistics, and settlement support, which improve operational efficiencies and recovery rates[48] Technology and Innovation - The company is investing significant resources in enhancing marketplace user experiences and seller tools, leveraging generative AI and automation technologies[69] - The company’s technology investments have led to the development of the AllSurplus marketplace, which utilizes machine learning for site search and recommendations, optimizing asset visibility for buyers[32] - The company successfully migrated the GovDeals.com marketplace to a modernized platform in October 2023, enhancing user experience with AI and machine learning algorithms[66] - In fiscal year 2023, the company expanded capabilities of its flagship e-commerce platform, AllSurplus, including the introduction of Rapid Bid and AllSurplus Deals[67] - The company’s technology infrastructure leverages cloud services from Amazon Web Services and Microsoft Azure for scalability and resilience[65] Operational Efficiency - The company’s operations group includes buyer relations, shipping logistics, and warehouse network management to enhance transaction efficiency[74] - The company employs a robust cybersecurity program, including annual training for all employees to promote a culture of cybersecurity awareness[71] - The company intends to improve operating expense leverage through cost control and technology innovation, enhancing productivity and scalability[38] Employee and Workplace Culture - The company has 716 employees worldwide, with 91% located in North America, 6% in the EMEA region, and 3% in the Asia-Pacific region as of September 30, 2023[83] - The company emphasizes diversity, equity, and inclusion in its workforce, utilizing various recruiting strategies to attract talented candidates[85] - The company provides a range of health benefits, including multiple medical plans, dental and vision coverage, and paid parental leave, with a significant portion of premiums covered by the company[86] - The company operates a remote-first work environment to promote flexibility, high performance, and retention[89] - The company’s culture is built on core values such as integrity, customer focus, and continuous improvement, which are reinforced through performance management and employee engagement surveys[87] Community Engagement and Sustainability - The company engages in community outreach and sustainability initiatives, including disaster relief and zero-waste programs[88] - The company aims to benefit businesses and the environment by enabling the continued use of surplus assets, reducing waste and emissions[91] - The company’s e-commerce marketplaces promote sustainability by facilitating the resale and redeployment of surplus assets, reducing waste, and supporting corporate environmental initiatives[32]