Record Quarterly GMV
Liquidity Services reported a record quarterly GMV of $386.1 million, up 26% from the previous year, driven by double-digit growth across all segments.
Strong Revenue Growth
Revenue increased by 72% year-over-year to $122.3 million, with a notable contribution from lower-touch purchase programs in the retail segment.
GovDeals and CAG Segments Growth
GovDeals' GMV grew by 11%, revenue by 29%, and direct profit by 25%, while the CAG segment saw a 31% increase in GMV and a 27% increase in direct profit, driven by strong performance in energy and heavy equipment verticals.
Machinio Segment Expansion
Machinio achieved double-digit organic growth and now has over 4,000 subscribers across 100 countries, with significant growth potential in the Asia Pacific region.
Acquisition of Auction Software and Simple Auction Site
Liquidity Services acquired Auction Software and Simple Auction Site to enhance market reach and software development capabilities, expected to support growth in various categories including retail and Machinio.
Strong Financial Position
Liquidity Services ended the quarter with $139.1 million in cash and no debt, providing a strong financial foundation for future growth.