Part I [Business](index=4&type=section&id=Item%201%2E%20Business%2E) Liquidity Services is a global e-commerce company operating online marketplaces for surplus assets, powering the circular economy Key Business Metrics | Metric | FY 2024 | Change from FY 2023 | | :--- | :--- | :--- | | Gross Merchandise Volume (GMV) | $1.4 billion | - | | Revenue | $363.3 million | - | | Registered Buyers | 5.5 million | +7% | - The company's strategic plan, RISE, is built on four pillars: Recovery Maximization, Increased Volume, Service Expansion, and Expense Leverage[26](index=26&type=chunk) - On January 1, 2024, the company acquired Sierra Auction Management, Inc. (Sierra), a full-service auction company specializing in vehicles, equipment, and surplus assets for government and commercial clients[10](index=10&type=chunk) [Overview](index=4&type=section&id=Overview) Liquidity Services is a global commerce company that operates online marketplaces for surplus assets, facilitating the circular economy Key Financial and Operational Metrics | Metric | Value | | :--- | :--- | | FY2024 GMV | $1.4 billion | | FY2024 Revenue | $363.3 million | | Registered Buyers (as of Sep 30, 2024) | 5.5 million | | 5-Year GMV CAGR | 16.4% | - The company's business model creates a self-reinforcing cycle where a continuous flow of goods from sellers attracts more buyers, enhancing the value of the platforms for all participants[10](index=10&type=chunk) [Reportable Segments](index=4&type=section&id=Reportable%20Segments) The company operates through four reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio - The company's four reportable segments are: - **GovDeals:** Serves government entities selling surplus property and real estate - **RSCG:** Enables corporations to sell excess, returned, and overstocked consumer goods - **CAG:** Facilitates the sale of surplus capital assets for commercial businesses in verticals like industrial manufacturing, oil and gas, and biopharma - **Machinio:** Operates a global search engine and provides software-as-a-service tools for equipment sellers[11](index=11&type=chunk)[13](index=13&type=chunk) [Industry Overview](index=5&type=section&id=Industry%20Overview) The global reverse logistics market is substantial and growing, driven by e-commerce, product innovation, and sustainability, creating opportunities for centralized online marketplaces - The global reverse logistics market is projected to grow at a **4.3%** CAGR, reaching **$948 billion** by 2032[14](index=14&type=chunk) - The retail industry sees approximately **$743 billion** in merchandise returns annually, representing over **14%** of total sales, with an estimated **$100 billion** moving through secondary markets[14](index=14&type=chunk) - Key factors driving the supply of surplus assets include e-commerce growth, product innovation, flexible retailer return policies, and a focus on sustainable, green solutions[14](index=14&type=chunk) [Our Solutions and Competitive Factors](index=6&type=section&id=Our%20Solutions%20and%20Competitive%20Factors) Liquidity Services offers comprehensive e-commerce solutions and value-added services, leveraging its large global buyer and seller base, integrated platform, and technology to optimize recovery and promote sustainability - The company has over **5.5 million** registered buyers and saw over **4.0 million** auction participants in fiscal year 2024[19](index=19&type=chunk) - Offers two primary transaction models: a consignment model (earning commission revenue) and a purchase model (buying and reselling inventory)[22](index=22&type=chunk) - The AllSurplus marketplace platform aggregates assets from government and commercial sectors and uses AI and machine learning to improve search and recommendations for buyers[24](index=24&type=chunk) [Our Strategy](index=9&type=section&id=Our%20Strategy) The company's RISE strategy focuses on Recovery Maximization, Increased Volume, Service Expansion, and Expense Leverage to enhance seller returns, grow transactions, expand recurring services, and improve operating margins - The company's strategy is based on the acronym RISE: - **R**ecovery Maximization: Attracting sellers by maximizing their returns - **I**ncreased Volume: Growing transactions via flexible service models and category focus - **S**ervice Expansion: Expanding recurring revenue services like asset management tools - **E**xpense Leverage: Improving margins through cost control and technology-driven productivity[26](index=26&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) [Human Capital Management](index=18&type=section&id=Human%20Capital%20Management) The company prioritizes attracting, developing, and retaining talent through a remote-first, diverse work environment, comprehensive benefits, and a culture built on integrity, customer focus, and sustainability - The company operates a remote-first work environment to promote flexibility, high performance, and retention[64](index=64&type=chunk) - Employee benefits are designed to enhance wellness across health, financial security, life, and learning, including medical plans, a 401(k) with a discretionary match, and tuition support[60](index=60&type=chunk)[62](index=62&type=chunk) - The company's sustainability efforts are core to its business model of enabling the reuse of surplus assets and are extended to its operations through a remote work structure that reduces energy and emissions[65](index=65&type=chunk) [Risk Factors](index=20&type=section&id=Item%201A%2E%20Risk%20Factors%2E) The company faces several business, operational, legal, and general risks, including dependence on asset supply, technological upgrades, major vendor contracts, intense competition, cybersecurity threats, and evolving e-commerce and data privacy regulations [Business and Operating Risks](index=20&type=section&id=Business%20and%20Operating%20Risks) Operational success depends on attracting sufficient asset supply, continuous technological investment, and managing risks from reliance on major vendor contracts, intense competition, system failures, and cybersecurity threats - The business depends on its ability to source a sufficient supply of assets from sellers to attract and retain active buyers, creating a network effect[72](index=72&type=chunk) - The company has multiple vendor contracts with Amazon.com, Inc., which is a significant source of purchased inventory for the RSCG segment; as of September 30, 2024, **$12.2 million** of inventory was from Amazon[80](index=80&type=chunk)[81](index=81&type=chunk) - The company faces risks from cybersecurity threats, including phishing and ransomware attacks, and must comply with increasing regulations like new SEC disclosure rules[102](index=102&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk) [Legal and Regulatory Risks](index=31&type=section&id=Legal%20and%20Regulatory%20Risks) The company navigates a complex and evolving legal landscape, including e-commerce, data privacy (e.g., GDPR), auction, export control, and anti-corruption laws, which can increase compliance costs and operational restrictions - The company is subject to evolving federal, state, and international laws regarding data privacy and security, which could increase compliance costs and restrict marketing efforts[138](index=138&type=chunk)[143](index=143&type=chunk) - Certain assets sold on the marketplaces, such as scientific instruments and aircraft parts, are subject to U.S. and other governments' export control and economic sanctions laws[146](index=146&type=chunk) - Due to its international operations, the company is subject to anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010[151](index=151&type=chunk) [Cybersecurity](index=35&type=section&id=Item%201C%2E%20Cybersecurity%2E) The company maintains a comprehensive cybersecurity and data privacy program with a "defense in depth" approach, achieving SOC2 Type 1 and TX-Ramp certifications in 2024, and overseen by the Board of Directors - In 2024, the company achieved both SOC2 Type 1 and TX-Ramp certifications, demonstrating its commitment to aligning controls with established compliance frameworks[168](index=168&type=chunk) - The cybersecurity strategy employs a "defense in depth" approach, using AI-powered threat detection and 24/7 monitoring by a dedicated security team[168](index=168&type=chunk)[170](index=170&type=chunk) - The Board of Directors oversees the cyber risk management program, with the Audit Committee responsible for reviewing financial reporting of cybersecurity risks and incidents[171](index=171&type=chunk) [Properties](index=36&type=section&id=Item%202%2E%20Properties%2E) As a remote-first organization, Liquidity Services primarily utilizes leased warehouses in key logistics hubs across the U.S. and Canada to support its segments, in addition to owning one large warehouse in North Carolina Key Warehouse Properties | Type | Location | Segment | Square Feet | | :--- | :--- | :--- | :--- | | Warehouse | Brownsburg, IN | RSCG | 204,206 | | Warehouse | Garland, TX | RSCG | 127,144 | | Warehouse | Pittston, PA | RSCG | 108,536 | | Warehouse | North Las Vegas, NV | RSCG | 102,400 | | Warehouse | Hebron, KY | RSCG | 101,614 | - The company owns a **420,000 square foot** warehouse located in North Wilkesboro, North Carolina[174](index=174&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=38&type=section&id=Item%205%2E%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities%2E) The company's common stock trades on Nasdaq under LQDT, has never paid cash dividends, and maintains a stock repurchase program with **$7.6 million** remaining as of September 30, 2024, and an additional **$10.0 million** authorized in December 2024 - The company's common stock is traded on the Nasdaq Stock Market under the symbol **LQDT**[177](index=177&type=chunk) - The company has not paid any cash dividends and has no present intention to do so[179](index=179&type=chunk) - As of September 30, 2024, **$7.6 million** remained under the stock repurchase authorization; an additional **$10.0 million** was authorized on December 9, 2024, for repurchases through December 31, 2026[183](index=183&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%207%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%2E) In fiscal year 2024, GMV grew to **$1.4 billion** and revenue increased **15.5%** to **$363.3 million**, driven by growth in the GovDeals and RSCG segments, though consolidated income from operations decreased **10.3%** to **$23.4 million** due to lower gross margin in RSCG and increased operating expenses, while the company maintains a strong liquidity position with **$153.2 million** in cash and cash equivalents Key Financial Performance (FY 2024 vs. FY 2023) | Metric | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | Total Revenue | $363.3M | $314.5M | 15.5% | | Income from Operations | $23.4M | $26.1M | (10.3)% | | Net Income | $20.0M | $21.0M | (4.7)% | | GMV | $1,366.6M | $1,203.0M | 13.6% | - The company's transaction mix is primarily consignment-based, which accounted for **85.1%** of GMV in FY2024 but only **34.9%** of total revenues, as only the commission fee is recognized[194](index=194&type=chunk) - Net cash provided by operating activities increased to **$70.2 million** in FY2024 from **$47.0 million** in FY2023, primarily due to favorable changes in working capital, including accounts payable and payables to sellers[230](index=230&type=chunk) [Results of Operations](index=47&type=section&id=Results%20of%20Operations) For fiscal year 2024, consolidated revenue increased **15.5%** to **$363.3 million** driven by GovDeals and RSCG, but consolidated income from operations declined **10.3%** to **$23.4 million** due to faster growth in cost of goods sold and increased operating expenses Segment Performance (FY 2024 vs. FY 2023) | Segment | Revenue FY24 ($M) | Revenue FY23 ($M) | % Change | Segment Direct Profit FY24 ($M) | Segment Direct Profit FY23 ($M) | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | GovDeals | 76.6 | 62.0 | 23.5% | 71.7 | 58.8 | 22.0% | | RSCG | 233.0 | 200.2 | 16.4% | 66.9 | 68.1 | (1.8)% | | CAG | 37.7 | 38.5 | (2.1)% | 31.3 | 32.2 | (2.9)% | | Machinio | 16.2 | 13.8 | 16.9% | 15.4 | 13.1 | 17.2% | - Consolidated cost of goods sold increased **25.2%** in FY2024, outpacing the **15.5%** revenue growth, primarily due to increased volumes from expanded, lower-margin purchase programs at the RSCG segment[207](index=207&type=chunk) - General and administrative expenses increased **13.8%** in FY2024, driven by a **$1.8 million** increase in stock compensation and a **$0.5 million** litigation settlement expense[207](index=207&type=chunk) [Liquidity and Capital Resources](index=52&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with **$153.2 million** in cash and cash equivalents, funding operations through cash on hand and a **$25.0 million** revolving credit facility, while deploying capital for investments, acquisitions, and share repurchases - As of September 30, 2024, the company had **$153.2 million** in cash and cash equivalents and **$2.3 million** in short-term investments[221](index=221&type=chunk) - The company maintains a **$25.0 million** credit agreement, with **$17.5 million** of borrowing capacity available as of September 30, 2024[224](index=224&type=chunk) - During fiscal year 2024, the company repurchased **564,887 shares** for **$9.4 million**; an additional **$10.0 million** was authorized for repurchase on December 9, 2024[229](index=229&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=56&type=section&id=Item%207A%2E%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk%2E) The company is exposed to market risks from interest rate fluctuations, where a **100 basis point** decline would impact pre-tax earnings by less than **$1.0 million** annually, and foreign currency exchange rate fluctuations, where a **10%** decrease would reduce total expected revenues by approximately **1%** - A hypothetical **100 basis point** decline in interest rates would impact pre-tax earnings by less than **$1.0 million** on an annualized basis[236](index=236&type=chunk) - The company has foreign exchange exposure, primarily to the British Pound, Canadian Dollar, Chinese Yuan, Euro, and Hong Kong Dollar; a hypothetical **10%** decrease in foreign exchange rates would reduce total expected revenues by approximately **1%**[236](index=236&type=chunk) [Controls and Procedures](index=56&type=section&id=Item%209A%2E%20Controls%20and%20Procedures%2E) Management concluded that the company's disclosure controls and procedures and internal control over financial reporting were effective as of September 30, 2024, with the latter's assessment excluding the Sierra acquisition, and the independent auditor issued an unqualified opinion - Management concluded that as of September 30, 2024, the company's disclosure controls and procedures were effective[241](index=241&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of September 30, 2024; the assessment excluded the newly acquired Sierra business[242](index=242&type=chunk) - The independent auditor, Deloitte & Touche LLP, issued an unqualified opinion on the effectiveness of the company's internal control over financial reporting as of September 30, 2024[249](index=249&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Compensation, and Principal Accountant Fees](index=61&type=section&id=Item%2010%2C%2011%2C%2012%2C%2013%2C%2014) Information for Items 10 through 14, covering directors, executive officers, corporate governance, compensation, security ownership, related transactions, director independence, and principal accountant fees, is incorporated by reference from the company's 2025 Annual Meeting Proxy Statement - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the Company's Proxy Statement for its 2025 Annual Meeting of Stockholders[260](index=260&type=chunk)[263](index=263&type=chunk)[264](index=264&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=62&type=section&id=Item%2015%2E%20Exhibits%20and%20Financial%20Statement%20Schedules%2E) This section includes the company's consolidated financial statements for fiscal years 2024, 2023, and 2022, the independent auditor's report, notes to financial statements, and a list of exhibits [Consolidated Financial Statements](index=65&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements for fiscal year 2024 report total revenues of **$363.3 million**, net income of **$20.0 million**, total assets of **$346.9 million**, and net cash provided by operating activities of **$70.2 million** Consolidated Statement of Operations Highlights (FY 2024) | Metric | Amount (in thousands) | | :--- | :--- | | Total Revenue | $363,318 | | Income from Operations | $23,404 | | Net Income | $19,991 | | Diluted EPS | $0.63 | Consolidated Balance Sheet Highlights (as of Sep 30, 2024) | Metric | Amount (in thousands) | | :--- | :--- | | Cash and cash equivalents | $153,226 | | Total Assets | $346,888 | | Total Liabilities | $164,328 | | Total Stockholders' Equity | $182,560 | Consolidated Statement of Cash Flows Highlights (FY 2024) | Metric | Amount (in thousands) | | :--- | :--- | | Net cash provided by operating activities | $70,221 | | Net cash used in investing activities | $(16,113) | | Net cash used in financing activities | $(11,171) | [Notes to Consolidated Financial Statements](index=70&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed accounting policies and financial results, including information on the Sierra acquisition, segment performance, goodwill, income taxes, equity incentive plans, share repurchases, and a **$3.5 million** wrongful termination lawsuit settlement - On January 1, 2024, the company acquired Sierra Auction Management for approximately **$13.7 million** in cash, resulting in **$7.9 million** of goodwill and **$5.4 million** of intangible assets, primarily supplier relationships[355](index=355&type=chunk) - A wrongful termination lawsuit was settled for **$3.5 million**, with the company's insurance carrier funding **$3.0 million**; the company recorded a net litigation settlement expense of **$0.5 million** in FY2024[422](index=422&type=chunk) Goodwill by Segment (as of Sep 30, 2024) | Segment | Goodwill ($ in thousands) | | :--- | :--- | | GovDeals | $61,683 | | CAG | $21,551 | | Machinio | $14,558 | | **Total** | **$97,792** |

A Better Future for Surplus Investor Presentation Fourth Quarter Fiscal Year 2024 © Liquidity Services, Inc. All Rights Reserved. 1 Forward-Looking Information This document contains forward-looking statements. These statements are only predictions. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future ...

Financial Data and Key Metrics Changes - The company achieved record annual GMV of $1.4 billion, with a 14% growth year-over-year [15][8] - Revenue grew 16% to $363 million, with GAAP net income at $20 million, up 9% [15][16] - Non-GAAP adjusted EBITDA was $48.5 million for the year, up 6% [15] Business Line Data and Key Metrics Changes - The Retail segment saw GMV increase by 28%, revenue by 49%, and segment direct profit by 5% [17] - GovDeals segment GMV was up 14%, revenue up 26%, and direct profit up 23% [17] - The CAG segment experienced a decline, with GMV down 2%, revenue down 17%, and direct profit down 12% [18] Market Data and Key Metrics Changes - The company reported a 22% increase in auction participants and a 12% increase in completed transactions year-over-year [8] - The company ended the fourth quarter with $155.5 million in cash and cash equivalents, maintaining zero debt [17] Company Strategy and Development Direction - The company aims to reach a $2 billion annual GMV milestone and $100 million in annual EBITDA within the next few years [12][32] - Key focus areas include increasing market share, expanding buyer base, modernizing the platform with AI tools, and executing bolt-on acquisitions [12][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for fiscal year 2025, citing solid improvement in key metrics as the year closed [19] - The company is well-positioned to capitalize on growth opportunities in the retail and public sector real estate markets [50][46] Other Important Information - The company celebrated its 25th anniversary, reflecting on its growth and commitment to sustainability [10][11] - Management highlighted the importance of leveraging past investments for future growth while making incremental investments in modernization [30] Q&A Session Summary Question: What segments are seeing the highest growth in participants? - Management noted broad-based expansion in the buyer base, particularly in the Retail and GovDeals segments, driven by the value of the marketplace [27][28] Question: Will there be continued investments for growth? - Management indicated that growth has leveraged prior investments, with incremental investments focused on modernization and efficiency improvements [30] Question: What is the timeframe for achieving the $2 billion GMV and $100 million EBITDA targets? - Management stated that the $2 billion GMV target is achievable within the next few years, with confidence in their market position and customer solutions [32][33] Question: Why are retailers expanding their relationships now? - Management attributed growth to their long-standing presence in the retail supply chain and the ability to offer a full range of solutions tailored to client needs [41][42] Question: What is the status of the real estate opportunity? - Management highlighted a record real estate sale and expressed optimism for growth in the public sector real estate market, viewing it as a significant opportunity [46][50]

Executive Summary & Q4 FY2024 Highlights [Q4 FY2024 Financial Performance Overview](index=1&type=section&id=Q4%20FY2024%20Financial%20Performance%20Overview) Q4 FY2024 showed significant growth in GMV, Revenue, Net Income, and Adjusted EBITDA and EPS | Metric | Q4 FY2024 | Q4 FY2023 | Change (%) | | :----------------------- | :---------- | :---------- | :--------- | | Gross Merchandise Volume (GMV) | $361.0 million | $315.6 million | 14% | | Revenue | $106.9 million | $80.0 million | 34% | | GAAP Net Income | $6.4 million | $6.3 million | 1.6% | | GAAP Diluted EPS | $0.20 | $0.20 | 0% | | Non-GAAP Adjusted EBITDA | $14.5 million | $12.8 million | 13% | | Non-GAAP Adjusted EPS | $0.32 | $0.26 | 23% | | Cash balances | $155.5 million | N/A | N/A | [CEO Commentary & Strategic Vision](index=1&type=section&id=CEO%20Commentary%20%26%20Strategic%20Vision) CEO highlighted Q4 FY2024 as a successful year, achieving record annual GMV of **$1.4 billion** and expanding market share - Achieved double-digit consolidated GMV growth in each quarter throughout FY2024, culminating in a record annual GMV of **$1.4 billion**[1](index=1&type=chunk) - Grew auction participants by **22%** and completed transactions by **12%** during the quarter, indicating enhanced network effects in the two-sided marketplace platform[1](index=1&type=chunk) - RSCG segment set new quarterly records in GMV, revenue, and segment direct profit, while GovDeals delivered robust double-digit growth and Machinio achieved another quarterly revenue record[2](index=2&type=chunk) - Celebrated **25th anniversary**, reflecting on growth, innovation, and commitment to sustainability as a leading global e-commerce company powering the circular economy[3](index=3&type=chunk) - Future strategy focuses on scalable marketplace technology, broad services, diversified client base, organic growth, and acquisition opportunities to drive continued growth and industry leadership[4](index=4&type=chunk) [Recent Business Highlights](index=1&type=section&id=Recent%20Business%20Highlights) Recent highlights include RSCG's Indianapolis expansion, GovDeals' largest auction, and CAG's diverse global sales - RSCG relocated and expanded its Indianapolis operations to accommodate increased supply, enhance customer experience, and reaffirm sustainability commitment[5](index=5&type=chunk) - GovDeals successfully conducted its largest auction, selling the historic Wainwright State Office Building for **$8.3 million**[5](index=5&type=chunk) - CAG executed diverse global sales, from oil-and-gas machinery in the U.S. to dairy processing equipment in Indonesia[5](index=5&type=chunk) Fourth Quarter Financial Performance [Consolidated Financial Results](index=1&type=section&id=Consolidated%20Financial%20Results) Q4 FY2024 GMV increased **14%** and revenue **34%**, with Net Income up and Adjusted EBITDA and EPS growing | Metric | Q4 FY2024 (in millions) | Q4 FY2023 (in millions) | YoY Change (%) | | :----------------------- | :---------------------- | :---------------------- | :------------- | | GMV | $361.0 | $315.6 | 14% | | Revenue | $106.9 | $80.0 | 34% | | GAAP Net Income | $6.4 | $6.3 | 1.6% | | GAAP Diluted EPS | $0.20 | $0.20 | 0% | | Non-GAAP Adjusted EBITDA | $14.5 | $12.8 | 13% | | Non-GAAP Adjusted EPS | $0.32 | $0.26 | 23% | - Consignment sales represented **82%** of consolidated GMV for Q4 FY2024[6](index=6&type=chunk) [Segment-Specific GMV Performance](index=1&type=section&id=Segment-Specific%20GMV%20Performance) RSCG and GovDeals achieved significant GMV growth, with RSCG setting a new record, while CAG saw a slight decrease - RSCG segment GMV increased **28%** to a new quarterly record of **$95.5 million**, driven by expanded purchase programs and sell-in-place consignment solutions[6](index=6&type=chunk) - GovDeals segment GMV increased **14%**, fueled by new seller acquisition, service expansion, and strong performance in vehicle and heavy equipment categories[6](index=6&type=chunk) - CAG segment GMV decreased **2%**, as increased consignment sales were offset by lower availability of large spot purchase transactions with international clients[6](index=6&type=chunk) [Segment-Specific Revenue Performance](index=2&type=section&id=Segment-Specific%20Revenue%20Performance) RSCG and GovDeals showed strong revenue growth, with RSCG's increase driven by purchase programs and GovDeals benefiting from higher take-rates, while Machinio also grew revenue - RSCG segment revenue increased **49%** to a new quarterly record of **$73.7 million**, reflecting a mix shift towards purchase programs[7](index=7&type=chunk) - GovDeals segment revenue increased **26%**, attributed to overall GMV growth and a higher blended revenue take-rate from expanded service offerings[7](index=7&type=chunk) - Machinio segment revenue increased **13%** due to increased subscriptions and pricing for its Advertising and System subscription services[7](index=7&type=chunk) - CAG segment revenue decreased **17%**, consistent with the lower GMV from large spot purchase transactions[7](index=7&type=chunk) [Profitability Metrics](index=2&type=section&id=Profitability%20Metrics) Profitability metrics reflected increased top-line performance, with GAAP Net Income slightly up and Non-GAAP Adjusted Net Income and EBITDA showing stronger growth, despite increased operating expenses - GAAP Net Income for Q4 FY2024 was **$6.4 million**, a slight increase from **$6.3 million** in the prior year, with GAAP Diluted EPS remaining at **$0.20**[8](index=8&type=chunk) - Non-GAAP Adjusted Net Income increased to **$10.2 million** (**$0.32** per share) from **$8.4 million** (**$0.26** per share) in Q4 FY2023[8](index=8&type=chunk) - Non-GAAP Adjusted EBITDA rose to **$14.5 million**, a **$1.7 million** increase from **$12.8 million** in Q4 FY2023[8](index=8&type=chunk) - Q4 FY2024 GAAP Net Income included a **$1.9 million** increase in stock compensation expense due to variable performance-based stock awards[8](index=8&type=chunk) [Capital Allocation & Share Repurchase](index=2&type=section&id=Capital%20Allocation%20%26%20Share%20Repurchase) The Board authorized an additional **$10.0 million** for share repurchases through December 31, 2026, supplementing the existing **$7.6 million** authorization, aligning with business growth priorities - Board authorized repurchase of up to **$10.0 million** of common stock through December 31, 2026[9](index=9&type=chunk) - This is in addition to **$7.6 million** remaining under a prior authorization through December 31, 2025[9](index=9&type=chunk) - The repurchase program is consistent with the Company's capital allocation strategy of prioritizing investment to grow the business over the long term[9](index=9&type=chunk) Fourth Quarter Segment Financial Results (Detailed) [GovDeals Segment](index=3&type=section&id=GovDeals%20Segment) The GovDeals segment demonstrated strong growth in Q4 FY2024, with GMV increasing by **14%** and total revenue by **26%**, alongside segment direct profit growth | Metric | Q4 FY2024 (in thousands) | Q4 FY2023 (in thousands) | YoY Change (%) | | :------------------------------------- | :----------------------- | :----------------------- | :------------- | | GMV | $210,002 | $184,100 | 14% | | Total revenue | $20,173 | $16,054 | 26% | | Segment direct profit | $18,745 | $15,238 | 23% | | Segment direct profit as a % of revenue | 92.9% | 94.9% | -2.0 pp | [RSCG Segment](index=3&type=section&id=RSCG%20Segment) RSCG segment achieved significant GMV and revenue growth in Q4 FY2024, with GMV up **28%** and revenue up **49%**, driven by expanded purchase programs | Metric | Q4 FY2024 (in thousands) | Q4 FY2023 (in thousands) | YoY Change (%) | | :------------------------------------- | :----------------------- | :----------------------- | :------------- | | GMV | $95,538 | $74,661 | 28% | | Total revenue | $73,704 | $49,561 | 49% | | Segment direct profit | $18,395 | $17,505 | 5% | | Segment direct profit as a % of revenue | 25.0% | 35.3% | -10.3 pp | - The increase in RSCG's overall GMV and revenue was driven by broader expansions in purchase programs relative to consignment programs, leading to a lower segment direct profit as a percentage of revenue[7](index=7&type=chunk) [CAG Segment](index=3&type=section&id=CAG%20Segment) The CAG segment experienced a slight decline in GMV and revenue in Q4 FY2024, primarily due to lower availability of large spot purchase transactions, despite an increase in segment direct profit margin

BETHESDA, Md., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT; www.liquidityservices.com), a leading global commerce company powering the circular economy, today announced its financial results for the quarter ended September 30, 2024, as compared to the corresponding prior year quarter: Gross Merchandise Volume (GMV) of $361.0 million, up 14%, and Revenue of $106.9 million, up 34%GAAP Net Income of $6.4 million, up $0.1 million, and GAAP Diluted Earnings Per Share (EPS) of $0.20Non-GAAP ...

Company Overview - Bid4Assets is a leading online marketplace for distressed real estate auctions, having facilitated over 150,000 property sales and generating more than $1.8 billion in government transactions [4] - It has been assisting communities in transitioning to online tax sales for 25 years, providing a streamlined process for bidders and property owners [3] Auction Details - Todd County, Minnesota has selected Bid4Assets to host its first virtual tax forfeited properties sale, featuring 17 properties with varying minimum bids and no reserve prices [1][2] - The auction will open for bidding on December 16 and close on January 15 [1] - Bidders are required to register for a free account and submit a $250 deposit by January 8 to participate in the auction [3] Benefits of Online Auctions - The transition to an online format increases accessibility for local buyers and broadens the pool of potential bidders, enhancing the likelihood of properties being returned to the tax rolls [2] - The funds generated from the sale will support essential county services, which may face shortfalls due to unpaid taxes [2] - The online auction format allows for more efficient use of staff time and improves availability to taxpayers [3] Parent Company Information - Bid4Assets is a wholly owned subsidiary of Liquidity Services, which operates the world's largest B2B e-commerce marketplace for surplus assets, with over $10 billion in completed transactions [5]

BETHESDA, Md., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced that it expects to report its fourth quarter fiscal year 2024 results prior to market open on Thursday, December 12, 2024. Bill Angrick, Chairman and CEO, and Jorge Celaya, EVP and CFO, will then host a conference call to review the results at 10:30 AM Eastern Time. To participate in the conference call, please register here to receive the dial-i ...

BETHESDA, Md., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy, has been selected by one of the largest oil and gas exploration and production companies in the U.S. to sell more than 30 Cameron, Watson Corsair, Rig Works, and Franks workover rigs and associated surplus assets in West Texas. The rigs are available through a sealed bid event that runs until September 12th, 2024 at 5:00 pm EDT on AllSurplus.com, the leading o ...

Core Insights - Liquidity Services and Tiger Group are conducting the fifth auction related to the bankruptcy of El Dorado Gas & Oil, featuring over 230 energy assets available until August 28, 2024 [1][2] - The auction presents a unique opportunity for oil and gas operators and equipment dealers to acquire equipment at significantly lower prices than new [2] Group 1: Auction Details - The auction includes a variety of high-value energy assets such as drilling rigs, fracking equipment, pumps, and compressors [2] - Notable items available for bidding include a Siebert Heavy Haul Trailer, Frac Pump Skid, and a 2011 Hydra Rig Coiled Tubing Trailer [2] Group 2: Company Background - AllSurplus is recognized as the leading online marketplace for surplus business assets, offering sellers 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] Group 3: Tiger Group Overview - Tiger Group specializes in asset valuation, advisory, and disposition services, leveraging over 40 years of experience [4] - The company provides clients with expertise in identifying asset value and managing asset risk factors [4]

Core Insights - Pike County, Pennsylvania sheriff's office has chosen Bid4Assets to conduct its first online sheriff's sales, enhancing accessibility for residents to bid on foreclosed properties [1][2] - Bid4Assets has a long history of facilitating online auctions for government entities, having auctioned over 150,000 properties and generating more than $1 billion in government transactions [3] Company Overview - Bid4Assets is a leading online marketplace specializing in the sale of distressed real estate properties, conducting online tax and foreclosure sales across the United States [3] - The company is a subsidiary of Liquidity Services, which operates the largest B2B e-commerce marketplace for surplus assets, with over $10 billion in completed transactions [4] Industry Impact - The shift to online auctions is expected to help counties raise revenues while reducing costs, as stated by Bid4Assets President Jesse Loomis [2] - The technology adoption for online sales is seen as a significant advancement for sheriff's offices, allowing broader participation in property bidding [1]