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Liquidity Services
Liquidity Services (LQDT) investor relations material
Liquidity Services Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary5 Feb, 2026
Executive summary
Q1 FY2026 delivered strong results with net income of $7.5M, up 29% year-over-year, and diluted EPS of $0.23, driven by platform scalability, multi-channel marketplace, and technology-enabled growth.
GMV reached $398M, up 3% year-over-year, with 6.2M registered buyers, a 9% increase, and robust new client acquisitions in GovDeals and CAG.
Business model features high-volume recurring revenue, diversified products and services, and multiple synergistic revenue streams.
Ended Q1 with $181.4M in cash and no debt, supporting ongoing investment in growth and technology.
Launched Retail Rush consumer auction channel and completed the acquisition of Auction Software, expanding SaaS capabilities.
Financial highlights
GMV up 3% year-over-year to $398M; revenue down 1% to $121.2M due to retail segment mix shift.
Non-GAAP Adjusted EBITDA was $18.1M, up 38% year-over-year; net income was $7.5M, up from $5.8M.
Direct profit grew 13% year-over-year, driven by enhanced services and higher commission rates.
Cash and cash equivalents stood at $169.8M–$181.4M, with no debt and $26M available under the credit facility.
Share repurchases totaled $1.5M in Q1, with $15M remaining authorization.
Outlook and guidance
Q2 FY2026 GMV expected between $375M–$450M; GAAP net income $6.5M–$9.5M; GAAP EPS $0.20–$0.29; non-GAAP adjusted EPS $0.29–$0.38; Adjusted EBITDA $14M–$17M.
Double-digit Adjusted EBITDA growth anticipated for Q2 year-over-year, with continued consignment expansion and strong buyer demand.
CapEx to remain around $2M per quarter; free cash flow conversion in line with historical patterns.
Q2 includes a one-time $300K–$400K cost for streamlining a retail location.
FY26 annual effective tax rate expected at 28–34%, with higher cash taxes as NOL carryforwards are exhausted.
Provide examples of tech-driven efficiency gains
What drives heavy equipment market share gains?
Retail Rush: B2C expansion strategy
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Next Liquidity Services earnings date
Q2 20267 May, 2026
Liquidity Services
Next Liquidity Services earnings date
Q2 20267 May, 2026
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Frequently asked questions
Liquidity Services Inc operates online marketplaces for surplus assets, allowing businesses and government agencies to sell excess inventory and equipment. Its platforms serve industries such as retail, energy, transportation, and manufacturing. The company is headquartered in Bethesda, Maryland, and its shares are listed on the NASDAQ.
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