Liquidity Services(LQDT) - 2025 Q1 - Quarterly Results

Financial Performance - GMV for Q1 FY2025 reached $386.1 million, a 26$305.9 million in Q1 FY2024[4] - Revenue for Q1 FY2025 was $122.3 million, a 72$71.3 million in Q1 FY2024[5] - GAAP Net Income for Q1 FY2025 was $5.8 million, up 205$1.9 million in the same quarter last year[7] - Non-GAAP Adjusted EBITDA for Q1 FY2025 was $13.1 million, an increase of 81$7.3 million in Q1 FY2024[7] - Non-GAAP Adjusted Net Income for Q1-FY25 was $8,908,000, compared to$4,332,000 for Q1-FY24, representing a 105% increase[26] - Non-GAAP Adjusted Basic Earnings Per Share increased to $0.29 in Q1-FY25 from$0.14 in Q1-FY24, a growth of 107%[26] - Total revenue for Q4 2024 reached $122.331 million, a significant increase of 71.5$71.325 million in Q4 2023[43] - Net income for Q4 2024 was $5.810 million, up 204.5$1.907 million in Q4 2023[43] - Basic income per common share increased to $0.19 in Q4 2024, compared to$0.06 in Q4 2023, reflecting a growth of 216.7%[43] Segment Performance - The RSCG segment's GMV increased by 65% due to expansion with existing and new retail client programs[8] - Revenue in the RSCG segment grew by 101%, driven by increased volumes from client purchase model programs[8] - Consignment sales represented 80% of consolidated GMV for Q1 FY2025[8] Guidance and Future Outlook - The company anticipates Q2 FY2025 GMV guidance between $360 million and$390 million[16] - The acquisition of Auction Software is expected to enhance integrated solutions and market reach[3] - The company aims to enhance its operational strategies and expand its market presence through investments in technology and customer service capabilities[35] Asset and Liability Management - Total current assets decreased from $199,235,000 as of September 30, 2024, to$188,750,000 as of December 31, 2024, a decline of approximately 5.5%[40] - Total liabilities decreased from $164,328,000 as of September 30, 2024, to$144,045,000 as of December 31, 2024, a reduction of about 12.3%[40] - Cash and cash equivalents decreased from $153,226,000 to$128,700,000, a decrease of approximately 16%[40] Cash Flow and Expenses - Net cash used in operating activities for Q4 2024 was $12.140 million, compared to$8.873 million in Q4 2023, indicating a decline in cash flow from operations[45] - The company reported a decrease in cash and cash equivalents by $24.526 million during Q4 2024, compared to a decrease of$11.724 million in Q4 2023[45] - The company incurred $10.671 million in purchases of short-term investments in Q4 2024, significantly higher than$2.369 million in Q4 2023[45] - Total costs and expenses rose to $115.244 million in Q4 2024, up 65.5$69.678 million in Q4 2023[43] - Depreciation and amortization expenses were $2.516 million in Q4 2024, slightly down from$2.904 million in Q4 2023[43] - Stock compensation expense increased to $3.431 million in Q4 2024, compared to$2.249 million in Q4 2023, reflecting a rise of 52.7%[45] Shareholder Information - The weighted average diluted shares outstanding increased from 31,938,342 in Q1-FY24 to 32,204,055 in Q1-FY25, an increase of about 0.83%[26] - The effective tax rates for non-GAAP adjustments were 29% for Q1-FY25 and 32% for Q1-FY24, indicating a decrease in the tax burden[26] Marketplace Activity - The company completed over $10 billion in transactions through its B2B e-commerce marketplace, serving more than five million qualified buyers[37]