In This Story
Liquidity Services Inc. (LQDT-0.01%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing details the company's operations, which include four reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio.
GovDeals provides solutions for government entities to sell surplus property and real estate assets. The segment reported a GMV of $836.3 million and revenue of $76.6 million for the fiscal year.
RSCG enables corporations to sell excess, returned, and overstocked consumer goods. It reported a GMV of $320.7 million and revenue of $233.0 million.
CAG helps commercial businesses sell surplus assets and reported a GMV of $209.7 million and revenue of $37.7 million.
Machinio operates a global search engine platform for listing equipment for sale and reported revenue of $16.2 million.
The company reported total revenue of $363.3 million, an increase from the previous year's $314.5 million.
Liquidity Services reported a net income of $20.0 million, a slight decrease from $21.0 million in the previous year.
The company completed the acquisition of Sierra Auction Management, Inc. on January 1, 2024, for approximately $13.7 million.
Liquidity Services maintains a $25.0 million credit agreement with Wells Fargo Bank, with $17.5 million available for borrowing as of September 30, 2024.
The company repurchased 564,887 shares for $9.4 million during the fiscal year and has $7.6 million remaining authorization for share repurchases.
Liquidity Services continues to focus on expanding its marketplace capabilities and enhancing its technology infrastructure.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Liquidity Services Inc. annual 10-K report dated December 12, 2024. To report an error, please email earnings@qz.com.