LQDT on Nasdaq
LIQUIDITY SERVICES INC
American business services company based in Bethesda, incorporated in Delaware. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerLQDT on Nasdaq1
- IndustryServices-Business Services, NEC1
- HeadquartersBethesda, Maryland1
- Incorporated inDE3
- Business address6931 Arlington Road, Suite 460, Bethesda, Md 208143
- Filer categoryLarge accelerated filer3
- Legal formCorporation
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Liquidity Services, Inc. (Liquidity Services, the Company) is the leading global provider of e-commerce marketplaces and software solutions powering the circular economy. We create a better future for organizations, individuals, and the planet by using technology to capture and unleash the intrinsic value of surplus. We connect millions of buyers and thousands of sellers through our leading e-commerce auction marketplaces, search engines, asset management and auction software, and related services. Our comprehensive solutions enable the transparent, efficient, sustainable recovery of value from excess items owned by business and government sellers.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
43.8%Gross margin2
7.4%Operating margin2
5.9%Net margin2
31.2%Revenue growth, 20252
13.8%Return on equity2
$59.0MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 65% of the revenue LIQUIDITY SERVICES INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product | $172.1M | $209.8M | $310.5M |
| Consignment and Other Fee Revenues | $142.4M | $153.5M | $166.1M |
Business segments
RSCG brought in 69% of the revenue LIQUIDITY SERVICES INC broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| RSCG | $200.2M | $233.0M | $330.3M |
| Gov Deals | $62.0M | $76.6M | $87.4M |
| CAG | $38.5M | $37.7M | $39.3M |
| Machinio And Software Solutions Corporation | $13.8M | $16.2M | $19.7M |
Regions
United States brought in 91% of the revenue LIQUIDITY SERVICES INC broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $278.7M | $323.3M | $433.3M |
| Outside the United States | $35.7M | $40.0M | $43.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs92¢$437.2M
- Income tax2¢$11.3M
- Profit6¢$28.1M
Out of $476.7M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending12¢$7.8M
- Share buybacks24¢$16.2M
- Kept or used elsewhere64¢$42.8M
Out of $66.8M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Total revenue | $476.7M | $363.3M | $314.5M |
| Cost of goods sold (excludes depreciation and amortization) | $267.9M | $178.2M | $142.3M |
| Technology and operations | $68.5M | $61.4M | $57.1M |
| Sales and marketing | $61.0M | $54.8M | $49.4M |
| General and administrative | $32.8M | $32.0M | $28.1M |
| Depreciation and amortization | $10.4M | $12.1M | $11.3M |
| Other operating expenses, net | $1.1M | $1.5M | $186.0K |
| Total costs and expenses | $441.6M | $339.9M | $288.4M |
| Income from operations | $35.1M | $23.4M | $26.1M |
| Interest and other income, net | -$4.4M | -$3.9M | -$2.9M |
| Income before provision for income taxes | $39.4M | $27.3M | $29.0M |
| Provision for income taxes | $11.3M | $7.3M | $8.0M |
| Net income | $28.1M | $20.0M | $21.0M |
| Basic income per common share | $0.91 | $0.66 | $0.68 |
| Diluted income per common share | $0.87 | $0.63 | $0.65 |
| Basic weighted average shares outstanding | 30.9M shares | 30.5M shares | 31.1M shares |
| Diluted weighted average shares outstanding | 32.4M shares | 31.6M shares | 32.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $174.6M | $153.2M | $110.3M | $96.1M |
| Short-term investments | $11.2M | $2.3M | ||
| Accounts receivable, net of allowance for doubtful accounts of $777 and $1,680 | $11.2M | $11.5M | ||
| Inventory, net | $14.2M | $17.1M | ||
| Prepaid taxes and tax refund receivable | $1.8M | $1.5M | ||
| Prepaid expenses and other current assets | $11.9M | $13.6M | ||
| Total current assets | $224.8M | $199.2M | ||
| Property and equipment, net | $18.3M | $18.0M | ||
| Operating lease assets | $11.5M | $12.0M | ||
| Intangible assets, net | $13.3M | $13.9M | ||
| Goodwill | $102.9M | $97.8M | $89.4M | $88.9M |
| Deferred tax assets | $567.0K | $1.7M | ||
| Other assets | $3.8M | $4.3M | ||
| Total assets | $375.1M | $346.9M | ||
| Accounts payable | $61.5M | $58.7M | ||
| Accrued expenses and other current liabilities | $30.6M | $28.3M | ||
| Current portion of operating lease liabilities | $5.1M | $5.2M | ||
| Deferred revenue | $5.1M | $4.8M | ||
| Payables to sellers | $59.4M | $58.2M | ||
| Total current liabilities | $161.6M | $155.2M | ||
| Operating lease liabilities | $8.7M | $9.1M | ||
| Other long-term liabilities | $1.5M | $115.0K | ||
| Total liabilities | $171.9M | $164.3M | ||
| Common stock, $0.001 par value; 120,000,000 shares authorized; 37,317,175 shares issued and outstanding at September 30, 2025; 36,707,840 shares issued and outstanding at September 30, 2024 | $37.0K | $37.0K | ||
| Additional paid-in capital | $285.7M | $275.8M | ||
| Treasury stock, at cost; 6,640,580 shares at September 30, 2025, and 6,015,496 shares at September 30, 2024 | -$110.0M | -$93.9M | ||
| Accumulated other comprehensive loss | -$10.6M | -$9.4M | ||
| Retained earnings | $38.1M | $10.0M | ||
| Total stockholders' equity | $203.2M | $182.6M | $161.5M | $154.5M |
| Total liabilities and stockholders' equity | $375.1M | $346.9M | ||
| Accounts receivable, allowance for doubtful accounts (in dollars) | $777.0K | $1.7M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 120.0M shares | 120.0M shares | ||
| Common stock, shares issued (in shares) | 37.3M shares | 36.7M shares | ||
| Common stock, shares outstanding (in shares) | 37.3M shares | 36.7M shares | ||
| Treasury stock, common (in shares) | 6.6M shares | 6.0M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $174.6M | $153.2M | $110.3M | $96.1M |
| Short-term investments | $11.2M | $2.3M | ||
| Accounts receivable, net of allowance for doubtful accounts of $777 and $1,680 | $11.2M | $11.5M | ||
| Inventory, net | $14.2M | $17.1M | ||
| Prepaid taxes and tax refund receivable | $1.8M | $1.5M | ||
| Prepaid expenses and other current assets | $11.9M | $13.6M | ||
| Total current assets | $224.8M | $199.2M | ||
| Property and equipment, net | $18.3M | $18.0M | ||
| Operating lease assets | $11.5M | $12.0M | ||
| Intangible assets, net | $13.3M | $13.9M | ||
| Goodwill | $102.9M | $97.8M | $89.4M | $88.9M |
| Deferred tax assets | $567.0K | $1.7M | ||
| Other assets | $3.8M | $4.3M | ||
| Total assets | $375.1M | $346.9M | ||
| Accounts payable | $61.5M | $58.7M | ||
| Accrued expenses and other current liabilities | $30.6M | $28.3M | ||
| Current portion of operating lease liabilities | $5.1M | $5.2M | ||
| Deferred revenue | $5.1M | $4.8M | ||
| Payables to sellers | $59.4M | $58.2M | ||
| Total current liabilities | $161.6M | $155.2M | ||
| Operating lease liabilities | $8.7M | $9.1M | ||
| Other long-term liabilities | $1.5M | $115.0K | ||
| Total liabilities | $171.9M | $164.3M | ||
| Common stock, $0.001 par value; 120,000,000 shares authorized; 37,317,175 shares issued and outstanding at September 30, 2025; 36,707,840 shares issued and outstanding at September 30, 2024 | $37.0K | $37.0K | ||
| Additional paid-in capital | $285.7M | $275.8M | ||
| Treasury stock, at cost; 6,640,580 shares at September 30, 2025, and 6,015,496 shares at September 30, 2024 | -$110.0M | -$93.9M | ||
| Accumulated other comprehensive loss | -$10.6M | -$9.4M | ||
| Retained earnings | $38.1M | $10.0M | ||
| Total stockholders' equity | $203.2M | $182.6M | $161.5M | $154.5M |
| Total liabilities and stockholders' equity | $375.1M | $346.9M | ||
| Accounts receivable, allowance for doubtful accounts (in dollars) | $777.0K | $1.7M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 120.0M shares | 120.0M shares | ||
| Common stock, shares issued (in shares) | 37.3M shares | 36.7M shares | ||
| Common stock, shares outstanding (in shares) | 37.3M shares | 36.7M shares | ||
| Treasury stock, common (in shares) | 6.6M shares | 6.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net income | $28.1M | $20.0M | $21.0M |
| Depreciation and amortization | $10.4M | $12.1M | $11.3M |
| Stock compensation expense | $14.5M | $11.1M | $8.2M |
| Inventory adjustment to net realizable value | $539.0K | $163.0K | $1.0M |
| Provision for doubtful accounts | $356.0K | $839.0K | $1.4M |
| Deferred tax expense | $2.4M | $5.3M | $6.6M |
| Impairment of long-lived and other non-current assets | $459.0K | $0 | $0 |
| (Gain) loss on disposal of property and equipment | $36.0K | -$14.0K | -$36.0K |
| Accounts receivable | $233.0K | -$4.3M | $2.7M |
| Inventory | $5.2M | $4.9M | -$479.0K |
| Prepaid taxes and tax refund receivable | -$239.0K | $264.0K | -$152.0K |
| Prepaid expenses and other assets | $1.5M | -$3.0M | -$1.2M |
| Operating lease assets and liabilities | -$345.0K | $1.4M | -$228.0K |
| Accounts payable | -$68.0K | $8.4M | -$2.9M |
| Accrued expenses and other current liabilities | $2.5M | $4.2M | $277.0K |
| Deferred revenue | -$204.0K | $87.0K | $262.0K |
| Payables to sellers | $1.3M | $8.7M | -$581.0K |
| Other liabilities | $54.0K | $0 | -$157.0K |
| Net cash provided by operating activities | $66.8M | $70.2M | $47.0M |
| Purchases of property and equipment, including capitalized software | -$7.8M | -$8.9M | -$5.4M |
| Purchase of short-term investments | -$19.0M | -$2.3M | -$8.0M |
| Maturities of short-term investments | $10.1M | $8.2M | $1.9M |
| Cash paid for business acquisition, net of cash acquired | -$6.5M | -$13.2M | $0 |
| Other investing activities, net | $190.0K | $54.0K | $68.0K |
| Net cash used in investing activities | -$23.0M | -$16.1M | -$11.4M |
| Payments of the principal portion of finance lease liabilities | -$102.0K | -$89.0K | -$101.0K |
| Proceeds from exercise of common stock options, net of tax | $212.0K | $598.0K | $496.0K |
| Taxes paid associated with net settlement of stock compensation awards | -$5.7M | -$2.3M | -$1.3M |
| Common stock repurchases | -$16.2M | -$9.4M | -$21.2M |
| Net cash used in financing activities | -$21.8M | -$11.2M | -$22.1M |
| Effect of exchange rate differences on cash and cash equivalents | -$580.0K | $8.0K | $640.0K |
| Net increase (decrease) in cash and cash equivalents | $21.4M | $42.9M | $14.2M |
| Cash paid for income taxes, net | $9.2M | $1.7M | $1.6M |
| Non-cash: Common stock surrendered in the exercise of stock options | $47.0K | $397.0K | $200.0K |
| Non-cash: Acquisition consideration paid in common stock | $945.0K | $0 | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led LIQUIDITY SERVICES INC, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
2010201520202025
- ChairBenjamin Ronald Brown Feb 22, 2006 to Dec 11, 200714
- PresidentRoger Gravley Aug 4, 2017 to Apr 12, 201915
- PresidentGardner H. Dudley Oct 4, 2017 to Oct 4, 201716
- PresidentJames M. Rallo May 13, 2014 to Apr 25, 201917
- PresidentJaime Mateus-Tique Feb 22, 2006 to Aug 11, 200918
- PresidentThomas B. Burton Feb 22, 2006 to Feb 22, 200619
- Chief financial officerJames M. Rallo Feb 22, 2006 to Jul 7, 201520
- Chief operating officerJohn Daunt Feb 8, 2023 to Mar 17, 202321
- Chief operating officerJaime Mateus-Tique Nov 14, 2007 to Nov 14, 200722
- Chief operating officerThomas B. Burton Feb 22, 2006 to Dec 11, 201319
Board members and other officers (27)
- Chief Human Resources OfficerKaren Fascenda Jul 8, 2026 to now23
- Chief Human Resources OfficerNovelette Murray Sep 21, 2020 to now24
- EVP, Chief Commercial OfficerJohn Daunt May 3, 2019 to now25
- VP, Human ResourcesMichael Lutz May 3, 2019 to Oct 6, 202026
- Vice President, MarketingNicholas Rozdilsky May 3, 2019 to Aug 17, 202127
- Former Pres., GovDeals & CIORoger Gravley May 14, 2019 to May 14, 201928
- SVP & Chief Technology OfficerSteven Weiskircher Aug 5, 2019 to now29
- VP & Chief Accounting OfficerSam Guzman Jun 28, 2018 to Aug 4, 202030
- VP & Chief Accounting OfficerMichael E. Sweeney Mar 2, 2016 to Apr 24, 201831
- VP, Gen. Counsel & SecretaryMark A. Shaffer Jul 13, 2016 to now32
- Chief Accounting OfficerKathryn Ann Domino Feb 14, 2014 to Jan 8, 201633
- EVP, Federal SectorThomas B. Burton Oct 3, 2014 to Oct 3, 201434
- Pres, Capital Assets GroupGardner H. Dudley Oct 8, 2014 to Apr 5, 201735
- Chief Information OfficerSegundo Leoncio Casusol Feb 6, 2013 to Jan 5, 201736
- Exec. VP/Pres. Asset RecoveryG. Cayce Roy Oct 13, 2009 to Apr 16, 201437
- Chief Information OfficerEric C. Dean Oct 19, 2007 to Feb 22, 201238
- Board memberThierno Amath Fall Feb 3, 2023 to now39
- Board memberKatharin S. Dyer Jan 7, 2020 to now40
- Board memberEdward Kolodzieski Feb 1, 2016 to now41
- Board memberBeatriz Infante V. May 5, 2014 to now42
- Board memberDavid Perdue Feb 4, 2010 to Feb 18, 201443
- Board memberF. David Fowler Feb 22, 2006 to Feb 18, 201144
- Board memberFranklin D. Kramer Feb 22, 2006 to Jun 13, 201345
- Board memberJaime Mateus-Tique Feb 22, 2006 to now18
- Board memberPatrick W. Gross Feb 22, 2006 to Feb 3, 202346
- Board memberPhillip A. Clough Feb 22, 2006 to Feb 2, 202447
- General counselMark A. Shaffer Dec 3, 2020 to now48
Named in SEC Form D filings
People the company listed in its private-offering notices.
Filings
540 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 65 major events, 285 insider forms, 27 large holders, 2 private raises, 141 other. The latest 20:
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 1, 2026144 EDGAR
- Oct 1, 20268-K EDGAR
- Sep 2, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 20264 EDGAR
- Aug 7, 20268-K EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 5, 20264 EDGAR
- Jul 8, 20263 EDGAR
- Jul 7, 20268-K EDGAR
The 540 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
149 open-market trades by officers, directors and large owners since October 2021: 0 buys and 149 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 1, 2026 | Daunt JohnEVP, Chief Commercial Officer | Sale | 715 | $41.27 | $29.5K | Form 4 |
| Aug 3, 2026 | Daunt JohnEVP, Chief Commercial Officer | Sale | 715 | $39.00 | $27.9K | Form 4 |
| Jul 1, 2026 | Daunt JohnEVP, Chief Commercial Officer | Sale | 462 | $39.13 | $18.1K | Form 4 |
| Jun 26, 2026 | Daunt JohnEVP, Chief Commercial Officer | Sale | 39 | $39.09 | $1.5K | Form 4 |
| Jun 24, 2026 | Daunt JohnEVP, Chief Commercial Officer | Sale | 10,139 | $39.24 | $397.8K | Form 4 |
| Jun 23, 2026 | Mateus-Tique JaimeDirector | Sale | 38,471 | $37.99 | $1.5M | Form 4 |
| Jun 22, 2026 | Mateus-Tique JaimeDirector | Sale | 1,011 | $37.95 | $38.4K | Form 4 |
| Jun 18, 2026 | Mateus-Tique JaimeDirector | Sale | 9,791 | $37.95 | $371.6K | Form 4 |
| Jun 16, 2026 | Mateus-Tique JaimeDirector | Sale | 33,727 | $37.95 | $1.3M | Form 4 |
| Jun 15, 2026 | Mateus-Tique JaimeDirector | Sale | 2,000 | $37.95 | $75.9K | Form 4 |
| Jun 10, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 2,409 | $38.00 | $91.5K | Form 4 |
| Jun 4, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 3,842 | $37.26 | $143.2K | Form 4 |
| Jun 1, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 9,951 | $36.79 | $366.1K | Form 4 |
| May 28, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 6,098 | $36.40 | $221.9K | Form 4 |
| May 27, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 5,320 | $36.06 | $191.8K | Form 4 |
| May 26, 2026 | Celaya JorgeEVP & Chief Financial Officer | Sale | 11,303 | $35.24 | $398.4K | Form 4 |
| May 22, 2026 | Murray NoveletteChief Human Resources Officer | Sale | 6,176 | $34.16 | $211.0K | Form 4 |
| May 22, 2026 | Weiskircher StevenSVP & Chief Technology Officer | Sale | 11,477 | $34.23 | $392.9K | Form 4 |
| May 22, 2026 | Shaffer Mark AChief Legal Officer & Corp Sec | Sale | 45,246 | $34.00 | $1.5M | Form 4 |
| May 21, 2026 | Weiskircher StevenSVP & Chief Technology Officer | Sale | 493 | $34.45 | $17.0K | Form 4 |
All 149 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- FORUM CAPITAL PARTNERSSCHEDULE 13G/A, 4 filings Feb 14, 2025 to Aug 13, 202650
- STALEY CAPITAL ADVISERS INCSCHEDULE 13G/A, 5 filings Feb 13, 2025 to Aug 13, 202651
- RENAISSANCE TECHNOLOGIES LLCSCHEDULE 13G/A, 6 filings Feb 11, 2022 to May 14, 202652
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 27, 202653
- Granahan Investment Management, LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202454
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARBenjamin Ronald Brown, Chair
- 15SEC EDGARRoger Gravley, President
- 16SEC EDGARGardner H. Dudley, President
- 17SEC EDGARJames M. Rallo, President
- 18SEC EDGARJaime Mateus-Tique, President
- 19SEC EDGARThomas B. Burton, President
- 20
- 21SEC EDGARJohn Daunt, Chief operating officer
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- 26SEC EDGARMichael Lutz, VP, Human Resources
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- 39SEC EDGARThierno Amath Fall, Board member
- 40SEC EDGARKatharin S. Dyer, Board member
- 41SEC EDGAREdward Kolodzieski, Board member
- 42SEC EDGARBeatriz Infante V., Board member
- 43SEC EDGARDavid Perdue, Board member
- 44SEC EDGARF. David Fowler, Board member
- 45SEC EDGARFranklin D. Kramer, Board member
- 46SEC EDGARPatrick W. Gross, Board member
- 47SEC EDGARPhillip A. Clough, Board member
- 48SEC EDGARMark A. Shaffer, General counsel
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- 50
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- 54