LIQUIDITY SERVICES (LQDT) Company Report

Liquidity Services (LQDT) announced strong financial results for Q4 and fiscal year 2025, with Q4 adjusted EBITDA increasing 28% and adjusted EPS rising 16% year-over-year, both above guidance. For the full fiscal year 2025, the company achieved a record $1.57 billion in GMV and $60.8 million in adjusted EBITDA, up 25% year-over-year.
The company issued guidance for Q1 fiscal year 2026, projecting GMV between $370 million and $405 million, non-GAAP adjusted diluted EPS from $0.25 to $0.35, and non-GAAP adjusted EBITDA from $13.5 million to $16.5 million.
Strategic initiatives contributing to growth include a focus on higher-margin consignment services and software solutions, the integration of a new payment solution, and the deployment of AI-assisted technologies to improve efficiency and customer experience.
LQDT ended Q4 2025 with a robust balance sheet, holding $185.8 million in cash and zero debt, and authorized an additional $15 million for share repurchases.

Nov 21, 2025, 10:22 PM

8-K

Liquidity Services Reports Strong Q4 and Full Year 2025 Financial Results

LQDT

Earnings

Revenue Acceleration/Inflection

Liquidity Services reported strong financial performance for fiscal year 2025, with annual revenue of $477 million, annual Gross Merchandise Volume (GMV) of $1571 million, and annual Non-GAAP Adjusted EBITDA of $60.8 million. For Q4 2025, revenue was $118 million, GMV was $404 million, and Non-GAAP Adjusted EBITDA was $18.5 million.
The company achieved significant marketplace growth in Q4 2025, including a 9% increase in buyer registrations year-over-year, bringing the total to over 6.0 million registered buyers.
Fiscal Year 2025 highlights included a record 4.1 million auction participants and the company surpassed $15 billion in cumulative GMV.
Key segments achieved record quarterly direct profits in Q4 2025, with GovDeals reaching $22.3 million and Liquidation.com reaching $20.3 million.

Nov 20, 2025, 3:30 PM

Presentation

Liquidity Services Reports Strong Q4 and Full-Year Fiscal 2025 Results, Issues Q1 2026 Guidance

LQDT

Earnings

Guidance Update

Share Buyback

Liquidity Services reported strong Q4 2025 results with GMV up 12% to $404.5 million, revenue up 10% to $118.1 million, and adjusted EBITDA up 28% to $18.5 million year-over-year. For the full fiscal year 2025, the company achieved a record $1.57 billion in GMV and $60.8 million in adjusted EBITDA, marking its highest EBITDA in 11 years.
The company generated $59 million of free cash flow in fiscal 2025 and ended Q4 2025 with $185.8 million in cash and zero debt, providing flexibility for strategic plans and M&A opportunities.
Strategic initiatives in fiscal 2025 included the integration of a new payment solution, deployment of AI-assisted technologies, expansion of the GovDeals and CAG heavy equipment segments, and the launch of the Retail Rush consumer auction channel.
For Q1 fiscal year 2026, Liquidity Services expects GMV to range from $370 million to $405 million, and non-GAAP adjusted EBITDA to range from $13.5 million to $16.5 million. The board also authorized an additional $15 million for share repurchases.

Nov 20, 2025, 3:30 PM

Transcript

Liquidity Services Reports Strong Q4 and Full-Year 2025 Results, Provides Q1 2026 Guidance

LQDT

Earnings

Guidance Update

Share Buyback

Liquidity Services reported strong Q4 2025 results, with GMV up 12% to $404.5 million, revenue up 10% to $118.1 million, and adjusted EBITDA up 28% to $18.5 million year-over-year. For the full fiscal year 2025, the company achieved a record $1.57 billion in GMV and $60.8 million in adjusted EBITDA, marking its highest EBITDA in 11 years.
The company's growth reflects its RISE strategy, prioritizing low-touch consignment services and software solutions, with every business segment growing both top and bottom line in FY 2025. The GovDeals segment achieved a record $903 million in GMV, and the CAG heavy equipment fleet category grew 35% organically.
LQDT demonstrated strong profitability with Q4 adjusted EBITDA margins at 32.8% and generated $59 million in free cash flow for FY 2025. The company ended Q4 2025 with $185.8 million in cash and zero debt, and authorized an additional $15 million for share repurchases.
For Q1 2026, Liquidity Services expects GMV to range from $370 million to $405 million, and non-GAAP adjusted EBITDA to range from $13.5 million to $16.5 million. The company aims for midterm goals of $2 billion in annual GMV and $100 million in annual adjusted EBITDA.

Nov 20, 2025, 3:30 PM

Transcript

LQDT Reports Strong Q4 and Fiscal Year 2025 Results, Provides Q1 2026 Guidance

LQDT

Earnings

Guidance Update

Share Buyback

Liquidity Services (LQDT) reported strong financial results for Q4 fiscal year 2025, with GMV up 12% to $404.5 million, revenue up 10% to $118.1 million, and non-GAAP adjusted EBITDA up 28% to $18.5 million year-over-year, all exceeding guidance.
For the full fiscal year 2025, the company achieved a record GMV of $1.57 billion and revenues of nearly $477 million, up 31% year-over-year, alongside adjusted EBITDA of $60.8 million, up 25% year-over-year, marking its highest EBITDA in 11 years.
The company maintains a strong financial position with $185.8 million in cash on its balance sheet and zero debt as of Q4 2025, and authorized an additional $15 million for share repurchases after conducting $16.1 million in Q4 2025.
LQDT provided Q1 fiscal year 2026 guidance, expecting GMV to range from $370 million to $405 million and non-GAAP adjusted EBITDA to be between $13.5 million and $16.5 million.
Strategic initiatives include a continued shift towards higher-margin consignment services and software solutions, expansion of its GovDeals and CAG segments, and investment in AI-assisted technologies and new payment solutions to enhance operational efficiency and buyer experience.

Nov 20, 2025, 3:30 PM

Transcript

Liquidity Services Announces Strong Q4 and FY 2025 Financial Results

LQDT

Earnings

Share Buyback

Revenue Acceleration/Inflection

Liquidity Services, Inc. reported strong financial results for the fiscal fourth quarter ended September 30, 2025, with Gross Merchandise Volume (GMV) of $404.5 million, up 12%, and Revenue of $118.1 million, up 10%.
For the full fiscal year 2025, the company's GMV reached $1.57 billion, a 15% increase, and Revenue grew 31% to $476.7 million.
GAAP Diluted Earnings Per Share (EPS) for Q4 2025 was $0.24, a 20% increase, while Non-GAAP Adjusted EPS was $0.37, up 16%.
For the fiscal year 2025, GAAP Diluted EPS was $0.87, up 38%, and Non-GAAP Adjusted EPS was $1.28, up 24%.
As of September 30, 2025, the company held cash balances of $185.8 million with zero financial debt, and its Board of Directors approved a $15.0 million increase to its share repurchase authorization.

Nov 20, 2025, 12:00 PM

8-K

Liquidity Services Inc. Provides Business Update at Midwest Ideas Conference

LQDT

New Projects/Investments

M&A

Guidance Update

Liquidity Services operates as a leading e-commerce platform for the circular economy, helping organizations manage and monetize assets globally, having facilitated $15 billion in cumulative transaction activity.
The company serves diverse segments including retail (liquidation.com), public sector (GovDeals), and industrial (All Surplus), with a proprietary platform, data ownership, and valuation expertise, leveraging almost 6 million registered buyers.
Liquidity Services has achieved a gross merchandise volume (GMV) run rate of $1.6 billion and is working towards a $2 billion annual GMV target, with significant growth opportunities in public sector personal property ($4 billion annual GMV potential) and heavy equipment fleet ($1 billion GMV opportunity).
The company maintains a strong financial position with approximately $170 million in cash and zero debt, generating substantial free cash flow, and is actively pursuing disciplined tuck-in acquisitions to expand its software-enabled services and market reach.

Aug 26, 2025, 2:30 PM

Earnings Transcripts

Quarterly earnings call transcripts for LIQUIDITY SERVICES.

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