Liquidity Services CEO Bill Angrick says "an inferior product mix and delays in selected international sales events" created challenges.

Liquidity Services saw mixed results in the second quarter of 2024. The company claims to operate the world’s largest B2B marketplace platform for surplus assets.

For the quarter ended March 31, gross merchandise volume grew 13% to $319.4 million. That was up from $282.7 million in the second fiscal quarter of 2023.

Year-over-year revenue growth was $91.5 million. Meanwhile, net income was $5.7 million, compared with $4.2 million in the second quarter of 2023.

Liquidity Services Q2 results

“Growth and profitability in our RSCG and CAG segments were impacted during the quarter by an inferior product mix and delays in selected international sales events at quarter end, respectively,” said Liquidity Services CEO Bill Angrick. “However, we expect an improvement in our RSCG product mix as we enter the seasonally high fiscal second quarter, and most of the delayed projects in our CAG segment are expected to close during the fiscal second quarter resulting in the resumption of year-over-year growth.”

Other second-quarter metrics include:

  • Buyers: Registered buyers, defined as the aggregate number of persons or entities who have registered on one of the Liquidity Services marketplaces, totaled approximately 5.2 million. That represented a 5% increase over the approximately 5.0 million registered buyers at the end of the prior year.
  • Auction Participants: Specifically, Liquidity Services defines participants as registered buyers who have bid in an auction during the quarter. That metric reached approximately 848,000, a 14% increase from the approximately 744,000 auction participants in Q1 2023.
  • Completed Transactions: Transactions, defined as the number of auctions in a given period, were approximately 239,000, up 12% from 214,000 completed transactions in the prior year.

Outlook for the third quarter

“We remain the trusted provider of choice for commercial and government clients in the circular economy and continue to deliver outstanding value for our customers,” Angrick says. “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.”

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