Robust sales on B2B marketplaces are extending into the liquidation industry, where Liquidity Services Inc. is reporting record gross sales volume on its B2B online marketplaces.

The company says the value of all transactions on its marketplaces, or gross merchandise volume, increased by 37% year over year to $260.2 million for the fiscal first quarter ended Dec. 31, setting a new quarterly record.

In addition, Liquidity’s number of registered buyers at the end of the first quarter was 4,713,000, up 23% from a year earlier, as its number of completed transactions increased 39%  to 211,000, the company says. Liquidity handles transactions of excess asset in commercial and government markets.

“We believe that ecommerce acceptance has been permanently advanced by the accelerated general market trends over the last two years towards greater online commerce,” the company said in announcing its Q1 results.

Liquidity’s Q1 revenue increased 20% to $66.7 million, as net income decreased by 20% to $3.6 million. The company attributed the drop  net income to an increase in tax payments.

CEO Bill Angrick says he expects Liquidity’s investment strategy will expedite the company’s growth this year.

“Our current investment program in sales, marketing, technology and operations will respond to the needs of the marketplace opportunity and accelerate our growth in the second half of fiscal year 2022,” Angrick says. “We expect continued growth in key categories such as heavy equipment, vehicles, industrial and consumer goods, and real estate will drive us towards our new target of $1.5 billion in annualized GMV.”

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