Despite market restrictions related to the COVID-19 pandemic, Liquidity Services Inc. is reporting strong financial results and expecting to soon surpass $1 billion in the value of transaction volume for the goods ranging from heavy industrial equipment to consumer electronics to government motor vehicles sold through its B2B marketplaces.

The company says total transaction or gross merchandise volume (GMV) increased year-over-year by 43% to $886.7 million for the 2021 fiscal year ended Sept. 30, as activity among buyers and sellers increased across its core product areas including industrial equipment, retail products and government assets.

CEO and co-founder Bill Angrick says Liquidity Services is on track to “drive well over $1 billion” in GMV in fiscal 2022.

“Earlier this year, we established an objective of achieving $1 billion of annualized GMV. I’m pleased to report that we expect to achieve that run rate milestone in our current December quarter,” Angrick said on a recent earnings call with investment analysts, according to a transcript from Seeking Alpha. Given our progress, we have established a new near-term objective of scaling to $1.5 billion in annualized GMV, and accordingly, we are aggressively investing in our people, products, and technology to achieve this new target.”

Liquidity Services broke out year-over-year fiscal Q4 GMV growth figures for multiple segments, including:

● Capital Assets Group, including corporate excess assets and heavy equipment, up 60% to $52.5 million;

● Retail Supply Chain Group, including the recently launched AllSurplus Deals direct-to-consumer marketplace, up 10% to $57.7 million;

● GovDeals, a government products group which includes Liquidity’s recent acquisition of Bid4Assets, up 20% to $134.1 million.

Liquidity says gross profit for the full 2021 fiscal year was $149.9 million, up 36% from $109.9 million in the prior year, and that net income was $50.9 million, compared to a net loss of $3.8 million.

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