Liquidity Services Clocks 26% Revenue Growth In Q4, Tops Consensus; Adopts $20M Share Buyback

Liquidity Services Clocks 26% Revenue Growth In Q4, Tops Consensus; Adopts $20M Share Buyback

Liquidity Services Inc LQDT reported fourth-quarter FY21 revenue growth of 26% year-on-year to $70.3 million, beating the consensus of $53.4 million.

  • Consolidated Gross Merchandise Volume rose 24% Y/Y to $244.4 million.
  • Segments: RSCG revenue grew 16.3% Y/Y to $40.7 million. GMV rose 10% Y/Y.
  • GovDeals revenue rose 20.2% Y/Y to $13.1 million. GMV increased 20% Y/Y.
  • CAG revenue climbed 70.4% Y/Y to $13.8 million. GMV rose 60% Y/Y.
  • The gross profit rose 20.8% Y/Y to $40.1 million, driven by higher volumes.
  • Adjusted EPS of $0.26 beat the consensus of $0.11.
  • Liquidity Services held $106.3 million in cash and equivalents.
  • Share Buyback: The board authorized a new share repurchase program of up to $20.0 million.
  • "Our Q4-FY21 results demonstrate the continuing role our e-commerce marketplace solutions play in powering the $100 billion+ circular economy. Businesses and government agencies continue to embrace the economic, environmental and sustainability benefits they gain from our online solutions," said Chairman and CEO Bill Angrick.
  • Outlook: Liquidity Services sees Q1 FY22 GMV of $230 million - $260 million. It sees non-GAAP EPS of $0.08 - $0.17.
  • Price Action: LQDT shares closed lower by 0.90% at $22.00 on Wednesday.

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