Liquidity Services Clocks 26% Revenue Growth In Q4, Tops Consensus; Adopts $20M Share Buyback

Liquidity Services Inc LQDT reported fourth-quarter FY21 revenue growth of 26% year-on-year to $70.3 million, beating the consensus of $53.4 million.

• Consolidated Gross Merchandise Volume rose 24% Y/Y to $244.4 million.
• Segments: RSCG revenue grew 16.3% Y/Y to $40.7 million. GMV rose 10% Y/Y.
• GovDeals revenue rose 20.2% Y/Y to $13.1 million. GMV increased 20% Y/Y.
• CAG revenue climbed 70.4% Y/Y to $13.8 million. GMV rose 60% Y/Y.
• The gross profit rose 20.8% Y/Y to $40.1 million, driven by higher volumes.
• Adjusted EPS of $0.26 beat the consensus of $0.11.
• Liquidity Services held $106.3 million in cash and equivalents.
• Share Buyback: The board authorized a new share repurchase program of up to $20.0 million.
• "Our Q4-FY21 results demonstrate the continuing role our e-commerce marketplace solutions play in powering the $100 billion+ circular economy. Businesses and government agencies continue to embrace the economic, environmental and sustainability benefits they gain from our online solutions," said Chairman and CEO Bill Angrick.
• Outlook: Liquidity Services sees Q1 FY22 GMV of $230 million - $260 million. It sees non-GAAP EPS of $0.08 - $0.17.
• Price Action: LQDT shares closed lower by 0.90% at $22.00 on Wednesday.