Liquidity Services Inc. Files 2024 10-K

TL;DR

LSQ filed its 2024 10-K. Full financials and biz ops details inside.

AI Summary

Liquidity Services Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its financial performance and business operations. The company, incorporated in Delaware and headquartered in Bethesda, MD, operates within the business services sector. Key financial data and operational details for the period are outlined in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Liquidity Services Inc.'s financial health, strategic initiatives, and risk factors for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing contains standard disclosures for a public company, including financial performance, operational risks, and forward-looking statements, which are typical for a 10-K.

Key Numbers

• 417.8 — Total Assets (This figure represents the total assets of Liquidity Services Inc. as of the fiscal year end.)

Key Players & Entities

• LIQUIDITY SERVICES INC (company) — Filer
• 0000950170-24-135700 (filing_id) — Accession Number
• 20240930 (date) — Fiscal Year End
• 20241212 (date) — Filing Date
• DE (state) — State of Incorporation
• BETHESDA (city) — Business Address City
• 7389 (sic_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value LQDT Nasdaq Securities
• $3.7 billion — million online transactions generating $3.7 billion in gross merchandise volume or GMV. GMV
• $1.4 billion — 5.5 million, or 7%. We generated GMV of $1.4 billion and revenue of $363.3 million through m
• $363.3 million — ated GMV of $1.4 billion and revenue of $363.3 million through multiple sources, including tra
• $948 billion — e logistics market is expected to reach $948 billion by 2032, growing at a compound annual g
• $743 billion — ndustry ), estimates that approximately $743 billion of merchandise is returned on an annual
• $100 billion — uidity Services estimates that at least $100 billion of these returns are moved through seco
• $7.9 — mmerce market is expected to total over $7.9 trillion ( US retail ecommerce sales wi

Filing Documents

• lqdt-20240930.htm (10-K) — 3887KB
• lqdt-ex4_2.htm (EX-4.2) — 16KB
• lqdt-ex19_1.htm (EX-19.1) — 97KB
• lqdt-ex21_1.htm (EX-21.1) — 15KB
• lqdt-ex23_1.htm (EX-23.1) — 4KB
• lqdt-ex31_1.htm (EX-31.1) — 15KB
• lqdt-ex31_2.htm (EX-31.2) — 15KB
• lqdt-ex32_1.htm (EX-32.1) — 8KB
• lqdt-ex32_2.htm (EX-32.2) — 8KB
• img213973278_0.jpg (GRAPHIC) — 25KB
• img213973278_1.jpg (GRAPHIC) — 937KB
• img213973278_2.jpg (GRAPHIC) — 86KB
• img213973278_3.jpg (GRAPHIC) — 50KB
• img213973278_4.jpg (GRAPHIC) — 102KB
• img213973278_5.jpg (GRAPHIC) — 855KB
• img245860984_0.jpg (GRAPHIC) — 4KB
• 0000950170-24-135700.txt ( ) — 21312KB
• lqdt-20240930.xsd (EX-101.SCH) — 1937KB
• lqdt-20240930_htm.xml (XML) — 3745KB

Risk Factors

Risk Factors 35 1B. Unresolved Staff Comments 34 1C. Cybersecurity 34 2

Legal Proceedings

Legal Proceedings 36 4 Mine Safety Disclosures 36 PART II 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 6 [Reserved] 39 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 55 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 55 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 55 9A.

Controls and Procedures

Controls and Procedures 55 9B. Other Information 59 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 59 PART III 10 Directors, Executive Officers and Corporate Governance 60 11

Executive Compensation

Executive Compensation 60 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 60 13 Certain Relationships and Related Transactions, and Director Independence 60 14 Principal Accountant Fees and Services 60 PART IV 15 Exhibits and Financial Statement Schedules 61 16 Form 10-K Summary 101

Signatures

Signatures 102 Unless the context requires otherwise, references in this report to "we," "us," "our", the "Company" and "Liquidity Services" refer to Liquidity Services, Inc. and its subsidiaries. 2 PA RT I

B usiness

Item 1. B usiness. Overview Liquidity Services, Inc. (Liquidity Services, the Company) is a leading global commerce company providing trusted online marketplace platforms that power the circular economy. We create a better future for organizations, individuals, and the planet by using technology to capture and unleash the intrinsic value of surplus. We connect millions of buyers and thousands of sellers through our leading e-commerce auction marketplaces, search engines, asset management software, and related services. Our comprehensive solutions enable the transparent, efficient, sustainable recovery of value from excess items owned by business and government sellers. Our business delivers value to shareholders by unleashing the intrinsic value of surplus through our online marketplace platforms. These platforms ignite and enable a self-reinforcing cycle of value creation where buyers and sellers attract one another in greater numbers. The result of this cycle is a continuous flow of goods that becomes increasingly valuable as more participants join the platforms, thereby creating positive network effects that benefit sellers, buyers, and shareholders. During the past three fiscal years, we have conducted over 2.9 million online transactions generating $3.7 billion in gross merchandise volume or GMV. GMV is the total sales value of all transactions for which we earned compensation upon their completion through our marketplaces or other channels during a given period of time. During the year ended September 30, 2024, the number of registered buyers grew from 5.1 million to 5.5 million, or 7%. We generated GMV of $1.4 billion and revenue of $363.3 million through multiple sources, including transaction fees from sellers and buyers, proceeds from the sale of products we purchased from sellers, and value-added service charges during the year ended September 30, 2024. Over the prior 5 years, our GMV has grown at a compound annual growth rate of 16.4%. Liquidit

View Full Filing

View this 10-K filing on SEC EDGAR