Liquidity Services, which claims to operate the world’s largest B2B marketplace platform for surplus assets, is coming off an honest first quarter.
For the three months ended Dec. 31, Liquidity Services posted gross merchandise volume of $305.9 million. That was a 13% increase from $270.8 million in the primary fiscal quarter of 2023. Revenue for the fiscal first quarter of 2024 was $71.3 million. The overall marked a 1% decrease from $72.3 million in the primary fiscal quarter of 2023.
Net income for the primary quarter was $1.9 million, compared with $4.0 million within the prior yr.
What Liquidity Services said in on its earnings call
“We remain the trusted provider of selection for business and government claims within the circular economy and proceed to deliver outstanding value for our customers as corporations of all sizes and industries seek to higher manage their assets, inventories and provide chains to drive efficiencies,” says CEO Bill Angrick, based on a transcript. “We intend to capitalize on our strong buyer base and business pipeline across our segments to deliver improved growth and profitability in our current fiscal second quarter.”
Key metrics for the excess assets marketplace
Other first-quarter metrics include:
- Registered buyers — At the tip of the primary quarter, registered buyers, defined because the variety of individuals or organizations who’ve registered on a number of marketplaces, totaled roughly 5.2 million. The result was a 5% increase over the 5.0 million registered buyers within the prior yr.
- Auction participants — Auction participants, defined as registered buyers who’ve bid on an auction, totaled 848,000. That was up 14% from 744,000 auction participants in the primary quarter of fiscal 2023.
- Accomplished transactions — Accomplished transactions, defined because the variety of auctions in a given period, were roughly 239,000. That was adequate for a 12% increase from 214,000 accomplished transactions within the prior yr.
“We glance to capitalize on our strong buyer base and business pipeline across our business to deliver improved growth and profitability in our fiscal second quarter,” Angrick says.
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