$LQDT

LIQUIDITY SERVICES INC

CIK:0001235468|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 129,578	$ 119,875	$ 371,530	$ 358,581
Costs and expenses from operations:
Cost of goods sold (excludes depreciation and amortization)	65,742	65,110	194,790	206,220
Technology and operations	19,252	17,275	55,869	51,565
Sales and marketing	17,618	15,694	50,750	44,278
General and administrative	10,141	8,221	28,978	23,596
Depreciation and amortization	2,683	2,657	7,906	7,741
Other operating expenses	4	700	108	1,073
Total costs and expenses	115,440	109,657	338,401	334,473
Income from operations	14,138	10,218	33,129	24,108
Interest and other income, net	(1,360)	(1,077)	(3,558)	(3,083)
Income before provision for income taxes	15,498	11,295	36,687	27,191
Provision for income taxes	5,072	3,885	11,250	6,920
Net income	$ 10,426	$ 7,410	$ 25,437	$ 20,271
Basic income per common share	$ 0.33	$ 0.24	$ 0.82	$ 0.66
Diluted income per common share	$ 0.32	$ 0.23	$ 0.78	$ 0.63
Basic weighted average shares outstanding	31,240,396	31,157,183	30,976,586	30,935,882
Diluted weighted average shares outstanding	32,851,019	32,497,238	32,476,795	32,404,183
Purchase revenues
Total revenue	$ 81,838	$ 76,517	$ 237,042	$ 237,159
Consignment and other fee revenues
Total revenue	$ 47,740	$ 43,358	$ 134,488	$ 121,422

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 25,437	$ 20,271
Adjustments to reconcile net income to net cash used inprovided by operating activities:
Depreciation and amortization	7,906	7,741
Stock compensation expense	15,796	9,522
Inventory adjustment to net realizable value	123	32
Provision for doubtful accounts	267	199
Deferred tax expense	1,887	1,872
Impairment of long-lived and other non-current assets	0	459
Gain on disposal of property and equipment	(2)	(19)
Changes in operating assets and liabilities:
Accounts receivable	(1,330)	(8,599)
Inventory	(2,883)	2,124
Prepaid taxes and tax refund receivable	545	(1,881)
Prepaid expenses and other assets	469	885
Operating lease assets and liabilities	(371)	(283)
Accounts payable	610	(1,787)
Accrued expenses and other current liabilities	(930)	(2,733)
Deferred revenue	(244)	(62)
Payables to sellers	12,912	1,027
Other liabilities	(1)	(0)
Net cash provided by operating activities	60,191	28,768
Investing activities
Cash paid for business acquisitions, net of cash acquired	0	(6,500)
Purchases of property and equipment, including capitalized software	(6,178)	(5,784)
Purchase of short-term investments	(8,791)	(16,217)
Maturities of short-term investments	8,309	7,417
Other investing activities, net	111	203
Net cash used in investing activities	(6,549)	(20,881)
Financing activities
Common stock repurchases	(1,513)	(79)
Taxes paid associated with net settlement of stock compensation awards	(7,985)	(5,106)
Payments of the principal portion of finance lease liabilities	(82)	(75)
Proceeds from exercise of stock options, net of tax	1,106	192
Net cash used in financing activities	(8,474)	(5,068)
Effect of exchange rate differences on cash and cash equivalents	(24)	(440)
Net increase (decrease) in cash and cash equivalents	45,144	2,379
Cash and cash equivalents at beginning of period	174,607	153,226
Cash and cash equivalents at end of period	219,751	155,605
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	8,890	6,960
Non-cash: Common stock surrendered in the exercise of stock options	121	47
Non-cash: Acquisition consideration paid in common stock	$ 0	$ 945

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 219,751	$ 174,607
Short-term investments	11,348	11,212
Accounts receivable, net of allowance for doubtful accounts of $657 and $777	12,470	11,176
Inventory, net	15,539	14,180
Prepaid taxes and tax refund receivable	1,212	1,757
Prepaid expenses and other current assets	11,180	11,857
Total current assets	271,500	224,789
Property and equipment, net	18,773	18,259
Operating lease assets	11,624	11,499
Intangible assets, net	11,022	13,340
Goodwill	102,794	102,875
Deferred tax assets	536	567
Other assets	3,843	3,772
Total assets	420,092	375,101
Current liabilities:
Accounts payable	60,636	61,454
Accrued expenses and other current liabilities	29,597	30,575
Current portion of operating lease liabilities	4,502	5,071
Deferred revenue	4,849	5,093
Payables to sellers	72,244	59,432
Total current liabilities	171,828	161,625
Operating lease liabilities	9,093	8,723
Other long-term liabilities	3,319	1,511
Total liabilities	184,240	171,859
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 38,025,125 shares issued and outstanding at June 30, 2026; 37,317,175 shares issued and outstanding at September 30, 2025	38	37
Additional paid-in capital	295,026	285,721
Treasury stock, at cost; 6,701,268 shares at June 30, 2026, and 6,640,580 shares at September 30, 2025	(111,635)	(110,002)
Accumulated other comprehensive loss	(11,140)	(10,640)
Retained earnings	63,563	38,126
Total stockholders’ equity	235,852	203,242
Total liabilities and stockholders’ equity	$ 420,092	$ 375,101