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Mar 31, 2021
Liquidity Services Q2 2021 Earnings Report
Delivered strong year-over-year gains in GMV, Revenue, GAAP Net Income, GAAP Diluted EPS, Non-GAAP Adjusted EBITDA and Non-GAAP Adjusted Diluted EPS.
Key Takeaways
Liquidity Services announced strong Q2 fiscal year 2021 results with a 44% year-over-year growth in consolidated GMV and a GAAP Net Income of $5.3 million. The company completed its $10.0 million share repurchase plan and approved a new $15.0 million plan.
GMV increased by 44% year-over-year, reaching $207.3 million.
Revenue increased by 17% year-over-year, totaling $61.8 million.
GAAP Net Income was $5.3 million, a year-over-year increase of $9.5 million.
Completed entire $10.0 million share repurchase plan and approved a new $15.0 million share repurchase plan.
Liquidity Services
Liquidity Services
Forward Guidance
The Company expects financial results for Q3-FY21 to improve year-over-year, with anticipated increases in transaction volumes and continued positive macroeconomic factors.
Positive Outlook
- Continued spending for the implementation of tools enabling omni-channel behavioral marketing, expanded analytics, and buyer/seller payment optimization.
- Increased spending in business development activities to capture the market opportunity.
- Stabilized macroeconomic factors that most directly influence the recovery rates of our most significant asset categories.
- Marketplace seasonality converging back to historical trends.
- Continued growth and expansion resulting from the continuing acceleration of broader market adoption of the online economy, particularly in our GovDeals and RSCG seller accounts and programs.
Challenges Ahead
- Continued mix shift to consignment pricing model which will lower revenue as a percent of GMV but improve gross profit margins.
- Continued variability in project size and timing within our CAG segment, especially as COVID-19 continues to impact the global economy and cross-border transactions.