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Liquidity Services Approves $10M Stock Buyback

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  • B2B e-commerce marketplace Liquidity Services Inc (NASDAQ: LQDTannounced the board authorization for a stock buyback program of up to $10 million through March 31, 2023.
  • The company EPS amounted to $0.17 in the first quarter of FY21, exceeding analyst estimate by $0.09. Revenue rose 13% to $55.8 million, driven by a 28% GMV growth, missing consensus estimates by $5.91 million.
  • It completed $4.1 million in share repurchases during Q1-FY21 and exited the quarter with a cash position of $77.8 million, a $1.8 million increase from Q4-FY20, and zero debt. 
  • The stock has gained over 281% in the last year.
  • Price action: The stock closed higher by 0.75% at $16.21 on Friday. 
 

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Posted-In: News Buybacks Small Cap Tech Media

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