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Sep 30, 2024
Liquidity Services Q4 2024 Earnings Report
Liquidity Services announced strong financial results driven by market share expansion and consistent growth.
Key Takeaways
Liquidity Services reported a 14% increase in GMV and a 34% increase in revenue for the fourth quarter of fiscal year 2024. The company's GAAP net income increased slightly, and non-GAAP adjusted EPS rose by 23%. Record annual GMV of $1.4 billion was achieved, with double-digit growth in each segment.
GMV increased by 14% to $361.0 million, and revenue increased by 34% to $106.9 million.
GAAP net income increased to $6.4 million, with GAAP diluted EPS of $0.20.
Non-GAAP adjusted EBITDA increased by 13% to $14.5 million, and non-GAAP adjusted EPS increased by 23% to $0.32.
Auction participants grew by 22%, and completed transactions grew by 12%.
Revenue by Segment
Forward Guidance
For the first quarter of fiscal year 2025, Liquidity Services anticipates improved performance across all metrics compared to the same quarter of the previous year. This is driven by expanded purchase programs in the RSCG segment and an improved project pipeline in the CAG segment.
Positive Outlook
- GMV is expected to be between $350 million and $385 million.
- GAAP net income is projected to be between $2.5 million and $5.0 million.
- Non-GAAP adjusted EBITDA is expected to range from $9.5 million to $12.5 million.
- GAAP diluted EPS is projected to be between $0.08 and $0.16.
- Non-GAAP adjusted diluted EPS is expected to be between $0.18 and $0.26.
Challenges Ahead
- RSCG’s segment direct profit as a percent of revenue is expected to decline year-over-year and sequentially.
- Consolidated consignment GMV is expected to be approximately eighty percent of total GMV.
- Consolidated revenue as a percent of GMV be up in the low thirty percentage range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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