Liquidity Services, which claims to operate the world’s largest B2B marketplace platform for surplus assets, is coming off a decent 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 first fiscal quarter of 2023. Revenue for the fiscal first quarter of 2024 was $71.3 million. The total marked a 1% decrease from $72.3 million in the first fiscal quarter of 2023.

Net income for the first quarter was $1.9 million, compared with $4.0 million in the prior year.

What Liquidity Services said in on its earnings call

“We remain the trusted provider of choice for commercial and government claims in the circular economy and continue to deliver outstanding value for our customers as companies of all sizes and industries seek to better manage their assets, inventories and supply 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 surplus assets marketplace

Other first-quarter metrics include:

• Registered buyers — At the end of the first quarter, registered buyers, defined as the number of persons or organizations who have registered on one or more marketplaces, totaled approximately 5.2 million. The result was a 5% increase over the 5.0 million registered buyers in the prior year.
• Auction participants — Auction participants, defined as registered buyers who have bid on an auction, totaled 848,000. That was up 14% from 744,000 auction participants in the first quarter of fiscal 2023.
• Completed transactions — Completed transactions, defined as the number of auctions in a given period, were approximately 239,000. That was good enough for a 12% increase from 214,000 completed transactions in the prior year.

“We look 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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