Liquidity Services claims to operate the world’s largest B2B marketplace platform for surplus assets. Heading into 2024, the company is off to a busy year after closing out 2023 with some growth in its core ecommerce assets.
Liquidity Services results for Q4 2023
For the fiscal year ended Sept. 30, 2023, Liquidity Services, a B2B marketplace with over $10 billion in completed transactions to more than 5 million qualified buyers and 15,000 corporate and government sellers worldwide, posted a modest increase in gross merchandise volume (GMV).
In fiscal 2023, Liquidity Services posted GMV of $1.203 billion. That was an increase of 5% from GMV of $1.145 billion in fiscal 2022. Revenue grew year over year 12% to $314.5 million from $280.1 million in fiscal 2022.
Net income was $20.97 million versus $40.32 million in the prior year.
Other metrics
- Registered buyers: At the end of fiscal 2023, registered buyers totaled 5.1 million. That was up 5% from 4.9 million registered buyers at the end of fiscal 2022.
- Auction participants: Auction participants, defined as registered buyers who have bid during an auction during the quarter, was approximately 836,000 in the quarter. That was an 8% increase from 775,000 auction participants in the prior year.
- Completed transactions: Completed transactions totaled 250,000, a 4% increase from 240,000 completed transactions in fiscal 2022.
Forward-looking expectations for Liquidity Services
For the first quarter of fiscal 2024, Liquidity Services expects GMV to range from $295 million to $325 million. It also anticipates that net income will range from $1.5 million to $4.0 million. “We concluded our fiscal year with strong fourth quarter results, setting a new annual record for GMV at $1.2 billion,” says CEO Bill Angrick. “Looking forward to fiscal year 2024, we have launched our modernized GovDeals marketplace, and are increasingly leveraging our Retail Supply Chain Group’s (RSCG) network of warehouses to offer consumer goods for curbside pickup by extending our AllSurplus Deals marketplace to additional locations.”
In January, Liquidity Services acquired Sierra Auction. Sierra is a full-service auction company specializing in the sale of vehicles, equipment and surplus assets for government agencies, commercial businesses, and charities. Sierra hosts the largest weekly public online auctions in Arizona, the company says. “The transaction accelerates Liquidity Services’ penetration of the southwest US market for municipal government surplus and expands the size of Liquidity Services’ overall transportation and used equipment footprint,” the company says.
Established in 1986 in Phoenix, Sierra Auction is the sole auction outlet for seized and forfeited assets from several prominent state and county government agencies in Arizona.
Terms of the deal were not released.
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