Liquidity Services claims to operate the world’s largest B2B marketplace platform for surplus assets. Heading into 2024, the corporate is off to a busy yr after closing out 2023 with some growth in its core ecommerce assets.
Liquidity Services results for Q4 2023
For the fiscal yr ended Sept. 30, 2023, Liquidity Services, a B2B marketplace with over $10 billion in accomplished transactions to greater than 5 million qualified buyers and 15,000 corporate and government sellers worldwide, posted a modest increase in gross merchandise volume (GMV).
In fiscal 2023, Liquidity Services posted GMV of $1.203 billion. That was a rise of 5% from GMV of $1.145 billion in fiscal 2022. Revenue grew yr over yr 12% to $314.5 million from $280.1 million in fiscal 2022.
Net income was $20.97 million versus $40.32 million within the prior yr.
Other metrics
- Registered buyers: At the tip of fiscal 2023, registered buyers totaled 5.1 million. That was up 5% from 4.9 million registered buyers at the tip of fiscal 2022.
- Auction participants: Auction participants, defined as registered buyers who’ve bid during an auction through the quarter, was roughly 836,000 within the quarter. That was an 8% increase from 775,000 auction participants within the prior yr.
- Accomplished transactions: Accomplished transactions totaled 250,000, a 4% increase from 240,000 accomplished transactions in fiscal 2022.
Forward-looking expectations for Liquidity Services
For the primary quarter of fiscal 2024, Liquidity Services expects GMV to range from $295 million to $325 million. It also anticipates that net income will range from $1.5 million to $4.0 million. “We concluded our fiscal yr with strong fourth quarter results, setting a brand new annual record for GMV at $1.2 billion,” says CEO Bill Angrick. “Looking forward to fiscal yr 2024, now we have launched our modernized GovDeals marketplace, and are increasingly leveraging our Retail Supply Chain Group’s (RSCG) network of warehouses to supply consumer goods for curbside pickup by extending our AllSurplus Deals marketplace to additional locations.”
In January, Liquidity Services acquired Sierra Auction. Sierra is a full-service auction company specializing within the sale of vehicles, equipment and surplus assets for presidency agencies, industrial businesses, and charities. Sierra hosts the biggest weekly public online auctions in Arizona, the corporate says. “The transaction accelerates Liquidity Services’ penetration of the southwest US marketplace for municipal government surplus and expands the dimensions of Liquidity Services’ overall transportation and used equipment footprint,” the corporate says.
Established in 1986 in Phoenix, Sierra Auction is the only real auction outlet for seized and forfeited assets from several distinguished state and county government agencies in Arizona.
Terms of the deal weren’t released.
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