10-Q · May 8, 2025
Liquidity Services reported Q2 revenue of $116.4M (up $24.9M or 27.3% YoY from $91.5M) and diluted EPS of $0.22 (up $0.04 from $0.18 a year ago). Gross margin compressed to 40.8% from 51.7% a year ago; operating margin…
Earnings analysis · 10-Q
LQDT earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Liquidity Services reported solid Q2 performance with total revenue of $120.7 million, exceeding analyst estimates of $105.7 million, although EPS of $0.23 fell short of expectations of $0.28. The company highlighted a…
Read full summary
Liquidity Services reported solid Q2 performance with total revenue of $120.7 million, exceeding analyst estimates of $105.7 million, although EPS of $0.23 fell short of expectations of $0.28. The company highlighted a 6% rise in GMV to $389.9 million, contributing to overall growth, while also projecting continued growth in the third quarter with guidance for revenues between $425 million to $465 million.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.23
- Segment
- GovDeals
- Segment
- Retail Supply Chain Group (RSCG)
- Segment
- Capital Assets Group (CAG)
- Segment
- Machinio & Software Solutions
What stood out
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Revenue Up 3.7% YoY
Total revenues increased to $120.7 million, up from $116.4 million in the prior year.
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Strong GMV Growth
Gross Merchandise Volume rose to $389.9 million, a 6% increase compared to the previous year.
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Operating Income Growth of 41.4%
Income from operations reached $9.6 million, compared to $6.8 million last year.
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Direct Profit Increased Across Segments
GovDeals reported a 12.2% increase in direct profit.
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Improved Efficiency
Cost of goods sold decreased by $4.1 million due to better margin management.
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Capital Expenditures Growth
Capex increased to $4.4 million from $3.7 million, driven by platform enhancements.
What to watch
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Increased Operating Costs
Technology and operations expenses rose by 8.5%, indicating higher operational costs if sustained.
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Geopolitical Tensions Continuing
Ongoing military tensions in the Middle East could disrupt supply chains.
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Fluctuating Consumer Demand
Changes in consumer sentiment affecting demand for auctioned goods pose a risk.
Management's outlook
Q3 guidance reflects expected continued growth in consistent segments.
Earlier filings 4
10-Q · February 6, 2025
Liquidity Services, Inc. reported strong revenue growth in Q1 2025, with total revenue of $122.331 million, up 71.4% compared to $71.325 million in Q1 2024. However, gross and operating margins have decreased to 41.0%…
10-Q · February 2, 2023
Liquidity Services reported quarterly revenue of $72,282,000, up from $66,707,000 a year ago, with operating income of $4,727,000 and net income of $3,967,000. Diluted EPS was $0.12 versus $0.10 in the prior-year…
10-K · December 8, 2022
Liquidity Services positions itself as a leading global marketplace powering the circular economy, reporting GMV of $1,145.4 million and revenue of $280.1 million for the year ended September 30, 2022. The buyer base…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.