Liquidity Services Reported Q1 Gross Merchandise Volume (GMV) of $305.9M, up 13% YoY
Portfolio Pulse from Benzinga Newsdesk
Liquidity Services (LQDT) reported a Gross Merchandise Volume (GMV) of $305.9M for the fiscal first quarter of 2024, marking a 13% increase YoY. The growth was attributed to higher availability of vehicles and real estate in the GovDeals segment (18% increase), a rise in sell-in-place consignment solutions in the RSCG segment (3% increase), and growth in global energy, industrial, and biopharma consignment categories in the CAG segment (9% increase). Consignment sales accounted for 89% of the consolidated GMV.
February 08, 2024 | 11:58 am
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Liquidity Services reported a 13% YoY increase in GMV for Q1 2024, with significant contributions from its GovDeals, RSCG, and CAG segments.
The reported 13% YoY increase in GMV for Liquidity Services indicates a strong performance across its key segments. This growth, especially in the GovDeals segment due to increased availability of vehicles and real estate, along with improvements in the RSCG and CAG segments, suggests a positive outlook for the company's revenue and profitability in the short term. The fact that consignment sales represented a significant portion of the GMV further underscores the company's successful business model adaptation.
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