Liquidity Services, Inc. (NASDAQ: LQDT) has released its financial results for the fourth quarter of fiscal year 2024. The company reported a significant increase in gross merchandise volume (GMV) to $210 million, representing a 15% growth compared to the previous quarter.
Furthermore, Liquidity Services reported a 20% increase in revenue, reaching $60 million for the quarter. This growth was primarily driven by the improved performance of the company's retail supply chain business segment.
The company also disclosed a 25% rise in adjusted EBITDA, which reached $8 million for the fourth quarter. Liquidity Services attributed this increase to operational efficiencies and cost management initiatives.
Additionally, net income for the quarter saw a notable surge, reaching $5 million, an increase of 30% compared to the previous quarter. This growth was supported by the company's focus on driving profitability and optimizing its business operations.
Liquidity Services’ CEO, Bill Angrick, emphasized the positive momentum and the company's ability to deliver strong financial performance despite the challenges posed by the market environment.
Following these announcements, the company's shares moved 5.6%, and are now trading at a price of $35.54. For the full picture, make sure to review Liquidity Services's 8-K report.
