Liquidity Services Files 10-Q for Q3 2024

TL;DR

LQDT 10-Q filed. Q3 financials out, showing segment performance. Check for details.

AI Summary

Liquidity Services Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across various segments, including GovDeals and Machinio Corporation, for the third quarter and year-to-date periods. Key financial data and segment performance are presented, with comparisons to prior periods.

Why It Matters

This filing provides investors with an update on Liquidity Services' financial health and operational performance, crucial for understanding the company's trajectory and investment potential.

Risk Assessment

Risk Level: medium — The filing is a routine 10-Q, but the financial performance and segment data within could indicate underlying business risks or opportunities.

Key Numbers

• Q3 2024 — Reporting Period (Financial performance for the third quarter is detailed.)
• 2024-06-30 — End of Period Date (This date marks the end of the reporting period for the 10-Q.)

Key Players & Entities

• LIQUIDITY SERVICES INC (company) — Filer
• 0000950170-24-093555 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• GovDeals (company) — Operating Segment
• Machinio Corporation (company) — Operating Segment

FAQ

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value LQDT Nasdaq Indicate by

Filing Documents

• lqdt-20240630.htm (10-Q) — 2177KB
• lqdt-ex31_1.htm (EX-31.1) — 17KB
• lqdt-ex31_2.htm (EX-31.2) — 17KB
• lqdt-ex32_1.htm (EX-32.1) — 10KB
• lqdt-ex32_2.htm (EX-32.2) — 10KB
• img213970395_0.jpg (GRAPHIC) — 30KB
• 0000950170-24-093555.txt ( ) — 9505KB
• lqdt-20240630.xsd (EX-101.SCH) — 1145KB
• lqdt-20240630_htm.xml (XML) — 2040KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statement of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to the Unaudited Condensed Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 32 Item 6. Exhibits 33

—FINAN CIAL INFORMATION

PART I—FINAN CIAL INFORMATION

Financia l Statements (Unaudited)

Item 1. Financia l Statements (Unaudited) Liquidity Services, Inc. and Subsidiaries Condensed Cons olidated Balance Sheets (Dollars in Thousands, Except Par Value) June 30, 2024 September 30, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 130,312 $ 110,281 Short-term investments 6,486 7,891 Accounts receivable, net of allowance for doubtful accounts of $ 1,710 and $ 1,424 8,823 7,848 Inventory, net 13,275 11,116 Prepaid taxes and tax refund receivable 1,650 1,783 Prepaid expenses and other current assets 12,679 7,349 Total current assets 173,225 146,268 Property and equipment, net 17,047 17,156 Operating lease assets 13,289 9,888 Intangible assets, net 14,860 12,457 Goodwill 97,565 89,388 Deferred tax assets 2,733 7,050 Other assets 6,819 6,762 Total assets $ 325,538 $ 288,970 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 40,877 $ 39,115 Accrued expenses and other current liabilities 27,803 23,809 Current portion of operating lease liabilities 5,213 4,101 Deferred revenue 4,905 4,701 Payables to sellers 64,453 48,992 Total current liabilities 143,251 120,718 Operating lease liabilities 10,226 6,581 Other long-term liabilities 91 137 Total liabilities 153,568 127,436 Commitments and contingencies (Note 13) Stockholders' equity: Common stock, $ 0.001 par value; 120,000,000 shares authorized; 36,525,606 shares issued and outstanding at June 30, 2024; 36,142,346 shares issued and outstanding at September 30, 2023 36 36 Additional paid-in capital 271,825 265,945 Treasury stock, at cost; 5,997,932 shares at June 30, 2024, and 5,433,045 shares at September 30, 2023 ( 93,482 ) ( 84,031 ) Accumulated other comprehensive loss ( 10,067 ) ( 10,457 ) Retained earnings (accumulated deficit) 3,658 ( 9,958 ) Total stoc

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View this 10-Q filing on SEC EDGAR