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Liquidity Services Inc. (LQDT-3.07%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenue to $122,331,000 from $71,325,000 in the same quarter the previous year. This growth is attributed to an increase in purchase revenues and consignment and other fee revenues.
Cost of goods sold for the quarter was $72,164,000, compared to $31,526,000 in the same quarter of the previous year, reflecting increased purchase transaction volumes.
The company reported a net income of $5,810,000 for the quarter, compared to $1,907,000 in the previous year, with the increase attributed to higher revenue and operational efficiencies.
Cash used in operating activities was $12,140,000, while cash used in investing and financing activities was $10,408,000 and $872,000, respectively.
Liquidity Services had cash and cash equivalents of $128,700,000 as of December 31, 2024. The company maintains a $25 million credit agreement with Wells Fargo Bank, with $17.5 million available for borrowing as of the end of the quarter.
The filing also details various business segments, with GovDeals, RSCG, CAG, and Machinio contributing to the company's performance. GovDeals and RSCG segments showed significant revenue growth due to increased sales and expanded service offerings.
Liquidity Services continues to focus on expanding its marketplace platforms and enhancing its technology infrastructure to support growth.
The company did not make any stock repurchases during the quarter but has authorization to repurchase up to $17.6 million of its common stock through December 31, 2026.
Liquidity Services is monitoring macroeconomic conditions, including inflation and geopolitical conflicts, which may impact its operations and financial performance.
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. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.