Liquidity Services (LQDT)
Market Price (9/8/2026): $42.18 | Market Cap: $1.3 BilSector: Industrials | Industry: Diversified Support Services
Liquidity Services (LQDT)
Market Price (9/8/2026): $42.18Market Cap: $1.3 BilSector: IndustrialsIndustry: Diversified Support Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% Attractive yieldFCF Yield is 6.8% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Circular Economy & Recycling. Themes include Online Marketplaces, and Asset Remarketing & Reuse. | Trading close to highsDist 52W High is -3.4%, Dist 3Y High is -3.4% | Key risksLQDT key risks include [1] a significant dependence on key vendor contracts, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Attractive yieldFCF Yield is 6.8% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Circular Economy & Recycling. Themes include Online Marketplaces, and Asset Remarketing & Reuse. |
| Trading close to highsDist 52W High is -3.4%, Dist 3Y High is -3.4% |
| Key risksLQDT key risks include [1] a significant dependence on key vendor contracts, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/4/2026
Liquidity Services (LQDT) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Liquidity Services reported stronger-than-expected fiscal Q3 2026 financial results and provided robust guidance.
The company announced adjusted earnings per share (EPS) of $0.45 for its fiscal third quarter ended June 30, 2026, significantly surpassing analysts' consensus estimates of $0.34. Additionally, revenue reached $129.58 million, outperforming analysts' expectations of $57.83 million. Gross Merchandise Volume (GMV) increased by 10% year-over-year to $453.0 million, and Adjusted EBITDA grew 30% to $22.0 million. The company also issued strong guidance for fiscal Q4 2026, projecting GAAP EPS between $0.30 and $0.39 and targeting $2 billion in annual GMV.
2. Analysts upgraded their ratings and increased price targets for LQDT stock.
Following the strong earnings report, several research firms upgraded Liquidity Services. Zacks Research, Wall Street Zen, and Weiss Ratings all raised their ratings on the stock during August 2026. The consensus analyst rating for LQDT became "Buy," with an average price target of $50.00, indicating a positive outlook and potential for further appreciation.
Show more
Liquidity Services (LQDT) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Liquidity Services reported stronger-than-expected fiscal Q3 2026 financial results and provided robust guidance.
The company announced adjusted earnings per share (EPS) of $0.45 for its fiscal third quarter ended June 30, 2026, significantly surpassing analysts' consensus estimates of $0.34. Additionally, revenue reached $129.58 million, outperforming analysts' expectations of $57.83 million. Gross Merchandise Volume (GMV) increased by 10% year-over-year to $453.0 million, and Adjusted EBITDA grew 30% to $22.0 million. The company also issued strong guidance for fiscal Q4 2026, projecting GAAP EPS between $0.30 and $0.39 and targeting $2 billion in annual GMV.
2. Analysts upgraded their ratings and increased price targets for LQDT stock.
Following the strong earnings report, several research firms upgraded Liquidity Services. Zacks Research, Wall Street Zen, and Weiss Ratings all raised their ratings on the stock during August 2026. The consensus analyst rating for LQDT became "Buy," with an average price target of $50.00, indicating a positive outlook and potential for further appreciation.
Show more
Updated on 9/4/2026
Liquidity Services (LQDT) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Liquidity Services reported stronger-than-expected fiscal Q3 2026 financial results and provided robust guidance.
The company announced adjusted earnings per share (EPS) of $0.45 for its fiscal third quarter ended June 30, 2026, significantly surpassing analysts' consensus estimates of $0.34. Additionally, revenue reached $129.58 million, outperforming analysts' expectations of $57.83 million. Gross Merchandise Volume (GMV) increased by 10% year-over-year to $453.0 million, and Adjusted EBITDA grew 30% to $22.0 million. The company also issued strong guidance for fiscal Q4 2026, projecting GAAP EPS between $0.30 and $0.39 and targeting $2 billion in annual GMV.
2. Analysts upgraded their ratings and increased price targets for LQDT stock.
Following the strong earnings report, several research firms upgraded Liquidity Services. Zacks Research, Wall Street Zen, and Weiss Ratings all raised their ratings on the stock during August 2026. The consensus analyst rating for LQDT became "Buy," with an average price target of $50.00, indicating a positive outlook and potential for further appreciation.
3. Institutional investors significantly increased their holdings in Liquidity Services during fiscal Q2 2026.
Major institutional players demonstrated increased confidence in LQDT. Bank of New York Mellon Corp, for example, acquired a new position of 139,485 shares, valued at approximately $5.46 million, in the second fiscal quarter. Other institutional investors, including BlackRock Inc. and California State Teachers Retirement System, also substantially boosted their stakes, reflecting growing institutional interest and investment in the company.
4. The company maintained a strong financial position, marked by a debt-free balance sheet and healthy cash reserves.
As of June 30, 2026, Liquidity Services reported $231.1 million in cash and short-term investments, maintaining zero financial debt. This robust financial health provides operational flexibility and signals stability, which is often viewed favorably by investors. The company's business model, described as powering the circular economy through e-commerce marketplaces for surplus assets, continues to generate strong operating leverage.
Show less
Liquidity Services (LQDT) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Liquidity Services reported stronger-than-expected fiscal Q3 2026 financial results and provided robust guidance.
The company announced adjusted earnings per share (EPS) of $0.45 for its fiscal third quarter ended June 30, 2026, significantly surpassing analysts' consensus estimates of $0.34. Additionally, revenue reached $129.58 million, outperforming analysts' expectations of $57.83 million. Gross Merchandise Volume (GMV) increased by 10% year-over-year to $453.0 million, and Adjusted EBITDA grew 30% to $22.0 million. The company also issued strong guidance for fiscal Q4 2026, projecting GAAP EPS between $0.30 and $0.39 and targeting $2 billion in annual GMV.
2. Analysts upgraded their ratings and increased price targets for LQDT stock.
Following the strong earnings report, several research firms upgraded Liquidity Services. Zacks Research, Wall Street Zen, and Weiss Ratings all raised their ratings on the stock during August 2026. The consensus analyst rating for LQDT became "Buy," with an average price target of $50.00, indicating a positive outlook and potential for further appreciation.
3. Institutional investors significantly increased their holdings in Liquidity Services during fiscal Q2 2026.
Major institutional players demonstrated increased confidence in LQDT. Bank of New York Mellon Corp, for example, acquired a new position of 139,485 shares, valued at approximately $5.46 million, in the second fiscal quarter. Other institutional investors, including BlackRock Inc. and California State Teachers Retirement System, also substantially boosted their stakes, reflecting growing institutional interest and investment in the company.
4. The company maintained a strong financial position, marked by a debt-free balance sheet and healthy cash reserves.
As of June 30, 2026, Liquidity Services reported $231.1 million in cash and short-term investments, maintaining zero financial debt. This robust financial health provides operational flexibility and signals stability, which is often viewed favorably by investors. The company's business model, described as powering the circular economy through e-commerce marketplaces for surplus assets, continues to generate strong operating leverage.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 16.3% change in LQDT stock from 5/31/2026 to 9/7/2026 was primarily driven by a 7.8% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.21 | 42.10 | 16.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 480 | 490 | 2.0% |
| Net Income Margin (%) | 6.3% | 6.8% | 7.8% |
| P/E Multiple | 37.2 | 39.5 | 6.4% |
| Shares Outstanding (Mil) | 31 | 31 | -0.6% |
| Cumulative Contribution | 16.3% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| LQDT | 16.3% | |
| Market (SPY) | 1.8% | 9.9% |
| Sector (XLI) | 1.2% | 2.6% |
Fundamental Drivers
The 33.2% change in LQDT stock from 2/28/2026 to 9/7/2026 was primarily driven by a 21.6% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.61 | 42.10 | 33.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 476 | 490 | 3.0% |
| Net Income Margin (%) | 6.3% | 6.8% | 8.5% |
| P/E Multiple | 32.5 | 39.5 | 21.6% |
| Shares Outstanding (Mil) | 31 | 31 | -1.9% |
| Cumulative Contribution | 33.2% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| LQDT | 33.2% | |
| Market (SPY) | 12.6% | 27.7% |
| Sector (XLI) | -0.8% | 18.9% |
Fundamental Drivers
The 58.3% change in LQDT stock from 8/31/2025 to 9/7/2026 was primarily driven by a 27.2% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.59 | 42.10 | 58.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 466 | 490 | 5.2% |
| Net Income Margin (%) | 5.7% | 6.8% | 18.7% |
| P/E Multiple | 31.1 | 39.5 | 27.2% |
| Shares Outstanding (Mil) | 31 | 31 | -0.3% |
| Cumulative Contribution | 58.3% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| LQDT | 58.3% | |
| Market (SPY) | 20.4% | 25.8% |
| Sector (XLI) | 16.5% | 18.4% |
Fundamental Drivers
The 130.7% change in LQDT stock from 8/31/2023 to 9/7/2026 was primarily driven by a 63.2% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.25 | 42.10 | 130.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 310 | 490 | 58.1% |
| Net Income Margin (%) | 7.4% | 6.8% | -8.7% |
| P/E Multiple | 24.2 | 39.5 | 63.2% |
| Shares Outstanding (Mil) | 31 | 31 | -2.0% |
| Cumulative Contribution | 130.7% |
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| LQDT | 130.7% | |
| Market (SPY) | 77.1% | 28.4% |
| Sector (XLI) | 68.7% | 26.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LQDT Return | 39% | -36% | 22% | 88% | -6% | 34% | 155% |
| Peers Return | -10% | -27% | 55% | 32% | -26% | -16% | -17% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| LQDT Win Rate | 58% | 17% | 58% | 75% | 67% | 56% | |
| Peers Win Rate | 41% | 42% | 69% | 56% | 42% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| LQDT Max Drawdown | -32% | -48% | -20% | -13% | -41% | -15% | |
| Peers Max Drawdown | -22% | -43% | -18% | -17% | -46% | -40% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RBA, CPRT, ACVA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | LQDT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.9% | -18.8% |
| % Gain to Breakeven | 53.5% | 23.1% |
| Time to Breakeven | 335 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -47.6% | -24.5% |
| % Gain to Breakeven | 90.8% | 32.4% |
| Time to Breakeven | 82 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.3% | -33.7% |
| % Gain to Breakeven | 54.6% | 50.9% |
| Time to Breakeven | 13 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -41.8% | -3.7% |
| % Gain to Breakeven | 71.8% | 3.9% |
| Time to Breakeven | 1227 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.5% | -12.2% |
| % Gain to Breakeven | 77.0% | 13.9% |
| Time to Breakeven | 144 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -70.1% | -6.8% |
| % Gain to Breakeven | 234.9% | 7.3% |
| Time to Breakeven | 1765 days | 15 days |
In The Past
Liquidity Services's stock fell -34.9% during the 2025 US Tariff Shock. Such a loss loss requires a 53.5% gain to breakeven.
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Asset Allocation
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| Event | LQDT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.9% | -18.8% |
| % Gain to Breakeven | 53.5% | 23.1% |
| Time to Breakeven | 335 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -47.6% | -24.5% |
| % Gain to Breakeven | 90.8% | 32.4% |
| Time to Breakeven | 82 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.3% | -33.7% |
| % Gain to Breakeven | 54.6% | 50.9% |
| Time to Breakeven | 13 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -41.8% | -3.7% |
| % Gain to Breakeven | 71.8% | 3.9% |
| Time to Breakeven | 1227 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.5% | -12.2% |
| % Gain to Breakeven | 77.0% | 13.9% |
| Time to Breakeven | 144 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -70.1% | -6.8% |
| % Gain to Breakeven | 234.9% | 7.3% |
| Time to Breakeven | 1765 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -48.0% | -0.2% |
| % Gain to Breakeven | 92.3% | 0.2% |
| Time to Breakeven | 3881 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.8% | -17.9% |
| % Gain to Breakeven | 26.3% | 21.8% |
| Time to Breakeven | 13 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -64.0% | -53.4% |
| % Gain to Breakeven | 178.0% | 114.4% |
| Time to Breakeven | 447 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -40.2% | -8.6% |
| % Gain to Breakeven | 67.1% | 9.5% |
| Time to Breakeven | 1309 days | 47 days |
In The Past
Liquidity Services's stock fell -34.9% during the 2025 US Tariff Shock. Such a loss loss requires a 53.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Liquidity Services (LQDT)
Liquidity Services (LQDT) operates as a leading e-commerce platform specializing in the sale of surplus, salvage, and idle assets for a diverse range of organizations. The company provides online marketplaces, self-directed auction tools, and comprehensive value-added services designed to help corporations and government entities efficiently recover value from their excess inventory and capital assets. Essentially, LQDT facilitates the circular economy by connecting sellers with a global network of buyers.
The company's core offerings include several key marketplaces. Liquidation.com serves corporations looking to sell surplus consumer goods and retail capital assets. GovDeals is a platform for local and state government entities, as well as commercial businesses, to sell their surplus and salvage assets through self-directed listings. AllSurplus acts as a centralized marketplace, consolidating assets from across LQDT's network. Additionally, Liquidity Services operates Machinio, a global search engine specifically for used equipment in sectors like construction, manufacturing, and transportation.
LQDT's primary customer base includes large corporations across various industries, such as retailers and manufacturers, seeking to manage their supply chains and dispose of excess inventory or equipment. It also serves local and state government bodies looking to sell public surplus. The types of assets it handles are vast, ranging from consumer electronics and apparel to heavy industrial machinery, fleet vehicles, and specialized equipment, connecting buyers and sellers globally across North America, Europe, Australia, Asia, and Africa.
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1. eBay for corporate and government surplus.
2. A specialized Amazon marketplace for business and government liquidations.
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- Online Marketplace Platforms: E-commerce platforms facilitating the sale of surplus and salvage assets.
- liquidation.com: A marketplace for corporations to sell surplus consumer goods and retail capital assets.
- GovDeals: A self-directed marketplace for local/state government entities and commercial businesses to sell surplus assets.
- AllSurplus: A centralized global marketplace connecting buyers with assets from across Liquidity Services' network.
- Industrial & Capital Assets Marketplace: A global marketplace for corporations to sell manufacturing surplus, salvage capital assets, and scrap material.
- Surplus Management Services: A suite of value-added services including surplus management, asset valuation, marketing, returns management, asset recovery, and general e-commerce support.
- Machinio Global Search Engine: A specialized search engine platform for listing and finding used equipment in construction, machine tool, transportation, printing, and agriculture sectors.
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Liquidity Services (LQDT) primarily provides e-commerce marketplaces and value-added services to other companies and government entities, enabling them to sell their surplus and salvage assets. Therefore, its major customers are organizations that utilize LQDT's platforms and services for asset disposition. Based on the provided background information, these customers fall into the following categories:
- Corporations: LQDT enables corporations across various industries (such as retail, manufacturing, consumer electronics, general merchandise, apparel, scientific equipment, aerospace, technology hardware, real estate, energy, industrial capital assets, heavy equipment, fleet and transportation equipment, and specialty equipment) to sell their surplus consumer goods, retail capital assets, manufacturing surplus, salvage capital assets, and scrap material through marketplaces like liquidation.com and AllSurplus.
- Local and state government entities: Through its GovDeals marketplace, LQDT provides self-directed service solutions that enable local and state government entities in the United States and Canada to sell their surplus and salvage assets.
- Commercial businesses: Similar to government entities, commercial businesses located in the United States and Canada also utilize the GovDeals marketplace to sell their surplus and salvage assets.
The provided background information does not list specific names of these customer companies or government entities.
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William P. Angrick, III, Chief Executive Officer and Chairman of the Board of Directors
Mr. Angrick co-founded Liquidity Services in 1999. He dedicated himself to creating an e-commerce company to provide improved service, scale, and results for customers within the circular economy.
Jorge A. Celaya, Chief Financial Officer
Mr. Celaya possesses over 30 years of experience in strategic transformation, capital markets, financial accounting, operations, and complex public company matters across a diverse range of industry sectors globally. He plays a key role in Liquidity Services' business transformation and growth initiatives through his expertise in technology-enabled business services. Prior to joining Liquidity Services, Mr. Celaya was a co-founder of Avanz Capital, an independent investment firm with a focus on private equity investing in emerging markets. He also served as Executive Vice President and Chief Financial Officer of FTI Consulting from 2007 to 2010, and Executive Vice President and Chief Financial Officer of Sitel Corporation from 2003 to 2007. Additionally, he held various U.S. and international positions at Schlumberger from 1990 to 2003, spanning sectors such as energy and technology.
John Daunt, Chief Commercial Officer
Mr. Daunt is an e-commerce industry veteran with over 20 years of success in building innovative, high-growth, omni-channel e-commerce companies and service providers. He is responsible for revenue growth and profitability across all of Liquidity Services' marketplaces.
Steven J. Weiskircher, Chief Technology Officer
Mr. Weiskircher is an expert in leveraging technology to achieve tactical and strategic business goals. His expertise includes e-commerce and omni-channel operations, information security, mobile commerce, logistics, and Agile application development.
Mark Shaffer, Chief Legal Officer and Corporate Secretary
Mr. Shaffer is responsible for all legal functions, commercial contracts, compliance, and corporate secretary duties. He also works to enhance the legal, compliance, and risk management processes essential for business growth.
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The key risks to Liquidity Services (LQDT) are primarily tied to its e-commerce marketplace business model and its sensitivity to external economic and operational factors.
- Dependence on Global and Regional Economic Conditions: Liquidity Services' performance is significantly influenced by global and regional economic health. Economic downturns, such as recessions, can lead to a decrease in the demand for surplus goods, even if the supply of excess inventory from businesses seeking to liquidate assets increases. This imbalance can result in lower prices for liquidated goods and a subsequent decline in Liquidity Services' revenue. Factors like reduced cross-border trade, increasing tariffs, or trade wars can also negatively impact its global operations.
- Data Security and Privacy Risks: As a company operating e-commerce marketplaces, Liquidity Services handles a substantial amount of personal and business information. A failure to maintain the privacy and security of this data could have severe consequences, including adverse impacts on its business operations, damage to its reputation, exposure to litigation and regulatory actions, and substantial additional costs.
- Intense Competition: Liquidity Services operates in a competitive landscape within the internet software and services industry. The presence of numerous competitors vying for both sellers and buyers of surplus assets poses a continuous risk. Competition can affect the company's ability to attract and retain clients, potentially impacting its market share, pricing power, and overall profitability.
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Liquidity Services, Inc. (LQDT) participates in several distinct addressable markets for its e-commerce marketplaces and services.
For its marketplaces that facilitate the sale of surplus and salvage consumer goods, retail capital assets, manufacturing surplus, and scrap material (including liquidation.com and AllSurplus), the relevant addressable market can be broadly categorized under the global reverse logistics market. This market was estimated at approximately USD 823.2 billion in 2024 and is projected to reach USD 3.18 trillion by 2033, growing at a compound annual growth rate (CAGR) of 17.4% from 2025 to 2033. Specifically for North America, the reverse logistics market was valued at USD 186.6 billion in 2025 and is anticipated to grow at a CAGR of 7.1% from 2026 to 2035. More narrowly, the global liquidation service for consumer goods market was valued at approximately USD 132.7 billion in 2024 and is anticipated to reach around USD 298.5 billion by 2033, reflecting a CAGR of 9.4% from 2025 to 2033. North America accounted for approximately 38% of the total market value for liquidation services for consumer goods in 2024.
For its GovDeals marketplace, which enables local and state government entities in the United States and Canada to sell surplus and salvage assets, a specific addressable market size for "government surplus assets" is not readily available in the provided information. Therefore, the addressable market for GovDeals cannot be definitively sized from these sources.
Machinio, Liquidity Services' global search engine platform for listing used equipment, operates within several used equipment markets:
- Used Construction Equipment Market: The global market for used construction equipment was valued at approximately USD 99.2 billion in 2024 and is projected to reach USD 122 billion by 2030, growing at a CAGR of 3.5% from 2024 to 2030. Another estimate places the global pre-owned construction equipment market size at USD 165.16 billion in 2021, projected to reach USD 484.31 billion by 2031. North America is identified as the largest market for used construction equipment, holding approximately 40% of the global market share.
- Used Agricultural Equipment Market: The global used agricultural equipment market size is predicted to grow from USD 59.4 million in 2025 to USD 70.6 million in 2031, at a CAGR of 2.9% from 2025 to 2031.
- Used Machine Tool, Transportation, and Printing Equipment Markets: Specific addressable market sizes for used machine tool, used transportation equipment, or used printing equipment were not identified in the provided information. Therefore, these markets cannot be definitively sized from these sources.
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For Liquidity Services (NASDAQ: LQDT), the following are expected drivers of future revenue growth over the next 2-3 years:
- Continued Organic Growth in Gross Merchandise Volume (GMV): Liquidity Services anticipates sustained organic growth in its Gross Merchandise Volume, particularly driven by its GovDeals segment. The company's modernized govdeals.com marketplace platform has demonstrated strong bidder engagement, contributing significantly to consolidated GMV expansion.
- Strategic Investments in Technology and New Business Models: The company is making strategic investments in technology, including AI, data analytics, and the deployment of new consumer-facing auction software. These initiatives are expected to enhance operational efficiency, improve the buyer/seller experience, and enable new business models such as scalable B2C and affiliate licensing, which should contribute to long-term profitability and revenue growth.
- Expansion and Diversification of Service Offerings: Liquidity Services aims to solidify its position as a leading marketplace for surplus assets by expanding its suite of services for corporate and government sellers. This includes a comprehensive range of solutions from surplus management and asset valuation to asset sales, marketing, and recovery, attracting more clients and a broader array of assets.
- Growth in Subscription-Based Services: The Machinio segment is a key contributor to revenue growth through its increasing subscription base. This model provides a recurring revenue stream and is expected to continue its upward trend.
- Strategic Acquisitions: With a strong cash position and zero debt, Liquidity Services has the financial flexibility to pursue strategic acquisitions. The acquisition of companies like Sierra Auction demonstrates the company's approach to expanding its market presence and capabilities, thereby contributing to inorganic revenue growth.
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Share Repurchases
- Liquidity Services repurchased $1.5 million in shares during the first quarter of fiscal year 2026.
- As of Q1 2026, the company has $15 million remaining under its share repurchase authorization.
- A new share repurchase program was announced on November 20, 2025, authorizing repurchases of up to $15 million worth of common stock, expiring on December 31, 2027.
Share Issuance
- On March 1, 2026, a director of Liquidity Services, Paul J. Hennessy, received a grant of 5,694 restricted stock units set to vest on March 1, 2027.
Outbound Investments
- In February 2025, Liquidity Services acquired Auction Software/Simple Auction Site to form Liquidity Services Software Solutions, Inc., a new private-label and software-as-a-service (SaaS) arm.
- The company acquired Sierra Auction in January 2024.
- Liquidity Services acquired Bid4Assets in November 2021.
Capital Expenditures
- Capital expenditures were approximately $8-9 million in fiscal year 2025.
- Expected capital expenditures are around $2 million per quarter for fiscal year 2026.
- The primary focus of capital expenditures includes investments in technology, AI automation, and machine-driven systems to enhance operational efficiency and expand its marketplace platforms like GovDeals and retail consignment.
Peer Outperformance in Diversified Support Services
LQDT has outperformed 78% of its 32 Diversified Support Services peers over 5Y. Diversified Support Services ranks 10th of 23 industries in Industrials by median 5Y return.
Share of Diversified Support Services constituents that LQDT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
84%
of 37 industry peers · 57.3% return
3Y
88%
of 33 industry peers · 150.5% return
5Y
78%
of 32 industry peers · 74.4% return
No Diversified Support Services peer with a comparable growth profile has beaten LQDT by more than 20pp over 5Y.
Median price return by industry across the Industrials sector, ranked by 5Y. Diversified Support Services is LQDT's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 20.5% | 106.8% | 187.8% | CDNL 2702% · FIX 2133% · STRL 2063% |
| Marine Transportation | 5 | 70.5% | 67.2% | 170.3% | HOS 48321% · MATX 185% · KEX 170% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 14.3% | 64.7% | 120.0% | CAT 329% · ALSN 280% · WAB 227% |
| Aerospace & Defense | 55 | -1.8% | 61.8% | 77.8% | ATI 1108% · FTAI 980% · HWM 746% |
| Passenger Ground Transportation | 3 | -11.2% | 54.5% | 61.7% | UBER 89% · CAR 62% · LYFT -66% |
| Rail Transportation | 7 | 31.0% | 72.1% | 46.6% | FSTR 140% · CSX 67% · UNP 51% |
| Industrial Machinery & Supplies & Components | 71 | 10.1% | 45.1% | 45.7% | CRS 1494% · PSIX 952% · EROC 609% |
| Cargo Ground Transportation | 16 | 38.0% | 9.0% | 39.6% | XPO 271% · R 260% · CVLG 222% |
| Trading Companies & Distributors | 19 | 2.7% | 35.7% | 32.9% | DXPE 552% · AIT 289% · WCC 224% |
| Diversified Support Services ← | 33 | 12.7% | 30.3% | 29.5% | LIME 4173% · TH 374% · WLFC 366% |
| Electrical Components & Equipment | 41 | 17.6% | 55.5% | 25.4% | POWL 2224% · BE 1132% · VRT 985% |
| Building Products | 33 | -11.0% | 4.7% | 19.8% | LMB 589% · GFF 403% · PPIH 279% |
| Agricultural & Farm Machinery | 17 | 14.1% | 6.0% | -3.9% | BLBD 227% · DE 100% · GENC 57% |
| Research & Consulting Services | 13 | -10.1% | -20.7% | -6.9% | HURN 219% · GRNQ 157% · CRAI 96% |
| Industrial Conglomerates | 17 | 10.5% | 14.2% | -10.9% | RCMT 656% · CSW 142% · CSL 82% |
| Environmental & Facilities Services | 29 | -8.4% | 25.5% | -12.7% | CECO 910% · ADUR 558% · NVRI 362% |
| Data Processing & Outsourced Services | 6 | -31.3% | -12.7% | -25.0% | EXLS 49% · BR 11% · G -23% |
| Passenger Airlines | 11 | 2.4% | 2.6% | -25.4% | LTM 3400% · UAL 145% · SKYW 122% |
| Office Services & Supplies | 9 | 12.0% | 27.2% | -28.6% | PBI 197% · TILE 160% · HNI 63% |
| Human Resource & Employment Services | 22 | 8.4% | -17.7% | -35.3% | BBSI 83% · ADP 51% · KFY 29% |
| Security & Alarm Services | 10 | -36.1% | 7.0% | -37.0% | CIX 135% · MG 103% · NL 52% |
| Air Freight & Logistics | 12 | -8.2% | -20.5% | -37.2% | CHRW 87% · FDX 70% · EXPD 62% |
| Airport Services | 3 | -67.1% | -77.6% | -57.6% | JOBY -28% · ASLE -58% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
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| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 37.91 |
| Mkt Cap | 8.4 |
| Rev LTM | 2,720 |
| Op Inc LTM | 420 |
| FCF LTM | 296 |
| FCF 3Y Avg | 319 |
| CFO LTM | 479 |
| CFO 3Y Avg | 497 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.5% |
| Rev Chg 3Y Avg | 19.5% |
| Rev Chg Q | 9.3% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 7.7% |
| Op Inc Chg 3Y Avg | 18.1% |
| Op Mgn LTM | 12.7% |
| Op Mgn 3Y Avg | 12.5% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 18.9% |
| CFO/Rev 3Y Avg | 18.6% |
| FCF/Rev LTM | 14.4% |
| FCF/Rev 3Y Avg | 13.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Retail Supply Chain Group (RSCG) | 330 | 233 | 200 | 166 | 159 |
| GovDeals | 87 | 77 | 62 | 59 | 50 |
| Capital Assets Group (CAG) | 39 | 38 | 38 | 43 | 40 |
| Machinio & Software Solutions | 20 | 16 | 14 | 12 | 10 |
| Corporate, including elimination adjustments | -0 | -0 | -0 | -0 | -0 |
| Total | 477 | 363 | 314 | 280 | 258 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| GovDeals | 382 | 324 | 256 | 238 | 148 |
| Retail Supply Chain Group (RSCG) | 141 | 138 | 111 | 99 | 85 |
| Capital Assets Group (CAG) | 101 | 99 | 97 | 96 | 95 |
| Machinio & Software Solutions | 54 | 42 | 36 | 33 | 30 |
| Corporate, including elimination adjustments | -303 | -256 | -211 | -178 | -102 |
| Total | 375 | 347 | 289 | 288 | 256 |
Price Behavior
Price Behavior
| Market Price | $42.10 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 02/27/2006 | |
| Distance from 52W High | -3.4% | |
| 50 Days | 200 Days | |
| DMA Price | $39.87 | $34.36 |
| DMA Trend | up | up |
| Distance from DMA | 5.6% | 22.5% |
| 3M | 1YR | |
| Volatility | 39.0% | 36.6% |
| Downside Capture | 9.43 | 61.89 |
| Upside Capture | 71.72 | 101.38 |
| Correlation (SPY) | 13.3% | 26.3% |
LQDT Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.53 | 0.42 | 0.19 | 0.64 | 0.72 | 0.74 |
| Up Beta | -0.88 | -1.17 | -0.50 | 0.34 | 0.73 | 0.77 |
| Down Beta | 3.40 | 2.34 | 0.54 | 0.84 | 0.47 | 0.76 |
| Up Capture | -8% | 82% | 61% | 90% | 102% | 55% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 21 | 32 | 73 | 140 | 398 |
| Down Capture | -204% | 34% | -3% | 50% | 70% | 84% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 21 | 30 | 52 | 108 | 345 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LQDT | |
|---|---|---|---|---|
| LQDT | 56.6% | 36.4% | 1.29 | - |
| Sector ETF (XLI) | 17.0% | 17.1% | 0.75 | 18.2% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 25.6% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 3.6% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -19.8% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 23.9% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 2.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LQDT | |
|---|---|---|---|---|
| LQDT | 11.1% | 44.0% | 0.37 | - |
| Sector ETF (XLI) | 12.4% | 17.6% | 0.54 | 33.6% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 37.0% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 1.3% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 3.4% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 28.8% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 16.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LQDT | |
|---|---|---|---|---|
| LQDT | 15.8% | 53.1% | 0.48 | - |
| Sector ETF (XLI) | 13.4% | 20.0% | 0.59 | 25.8% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 28.3% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 1.6% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 7.7% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 20.6% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 6.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 11.9% | 14.8% | 7.9% |
| 5/7/2026 | -2.6% | -10.9% | 0.0% |
| 2/5/2026 | 4.7% | -0.1% | 1.6% |
| 11/20/2025 | 13.4% | 33.2% | 36.0% |
| 8/7/2025 | -4.7% | 5.2% | 7.7% |
| 5/8/2025 | -10.2% | -19.9% | -21.2% |
| 2/6/2025 | 4.0% | 11.6% | -3.1% |
| 12/12/2024 | 30.7% | 20.8% | 34.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 13 |
| # Negative | 13 | 11 | 11 |
| Median Positive | 9.8% | 14.8% | 9.6% |
| Median Negative | -5.0% | -10.9% | -7.4% |
| Max Positive | 41.5% | 53.8% | 55.0% |
| Max Negative | -18.9% | -25.0% | -25.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 11.9% | 14.8% | 7.9% |
| 5/7/2026 | -2.6% | -10.9% | 0.0% |
| 2/5/2026 | 4.7% | -0.1% | 1.6% |
| 11/20/2025 | 13.4% | 33.2% | 36.0% |
| 8/7/2025 | -4.7% | 5.2% | 7.7% |
| 5/8/2025 | -10.2% | -19.9% | -21.2% |
| 2/6/2025 | 4.0% | 11.6% | -3.1% |
| 12/12/2024 | 30.7% | 20.8% | 34.2% |
| 8/8/2024 | 4.7% | 9.9% | 5.0% |
| 5/9/2024 | -2.8% | 1.9% | -0.3% |
| 2/8/2024 | -10.3% | -4.0% | 3.1% |
| 12/7/2023 | -13.9% | -11.4% | -14.9% |
| 8/3/2023 | 9.8% | 11.5% | 9.6% |
| 5/4/2023 | 3.8% | 15.9% | 21.5% |
| 2/2/2023 | -1.5% | -10.5% | -14.0% |
| 12/8/2022 | -4.4% | -10.8% | -5.6% |
| 8/4/2022 | -18.9% | -16.7% | -23.7% |
| 5/5/2022 | -2.3% | -21.2% | -7.4% |
| 2/3/2022 | -8.3% | -9.4% | -6.0% |
| 12/9/2021 | -5.0% | 1.4% | -2.5% |
| 8/5/2021 | 0.0% | 19.8% | 26.7% |
| 5/6/2021 | 37.7% | 48.2% | 30.4% |
| 2/4/2021 | -13.0% | -25.0% | -25.0% |
| 12/8/2020 | 41.5% | 53.8% | 55.0% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 13 |
| # Negative | 13 | 11 | 11 |
| Median Positive | 9.8% | 14.8% | 9.6% |
| Median Negative | -5.0% | -10.9% | -7.4% |
| Max Positive | 41.5% | 53.8% | 55.0% |
| Max Negative | -18.9% | -25.0% | -25.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/20/2025 | 10-K |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 12/12/2024 | 10-K |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 12/07/2023 | 10-K |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 12/08/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/20/2025 | 10-K |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 12/12/2024 | 10-K |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 12/07/2023 | 10-K |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 12/08/2022 | 10-K |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/03/2022 | 10-Q |
| 09/30/2021 | 12/09/2021 | 10-K |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/04/2021 | 10-Q |
| 09/30/2020 | 12/08/2020 | 10-K |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/06/2020 | 10-Q |
| 09/30/2019 | 12/10/2019 | 10-K |
Recent Forward Guidance
Updated 8/7/2026Latest: Q3 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 GMV | Reported | 415.00 Mil | 435.00 Mil | 455.00 Mil | -2.2% | Lower New | Actual: 445.00 Mil for Q3 2026 | |
| Q4 2026 Non-GAAP Adjusted EBITDA | Reported | 22.00 Mil | 23.50 Mil | 25.00 Mil | 27.0% | Higher New | Actual: 18.50 Mil for Q3 2026 | |
| Q4 2026 GAAP Net Income | Reported | 10.00 Mil | 11.50 Mil | 13.00 Mil | 35.3% | Higher New | Actual: 8.50 Mil for Q3 2026 | |
| Q4 2026 GAAP Diluted EPS | Reported | 0.3 | 0.34 | 0.39 | 35.3% | Higher New | Actual: 0.26 for Q3 2026 | |
| Q4 2026 Non-GAAP Adjusted Diluted EPS | Reported | 0.41 | 0.46 | 0.5 | 31.9% | Higher New | Actual: 0.34 for Q3 2026 | |
| Q4 2026 Diluted Weighted Average Shares Outstanding | Reported | 33.00 Mil | 0.0% | Same New | Guidance: 33.00 Mil for 2026 | |||
| 2026 Annual Effective Tax Rate | Reported | 30.0% | 32.0% | 34.0% | 0.0% | Affirmed | Guidance: 32.0% for 2026 | |
Prior: Q2 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 GMV | Reported | 425.00 Mil | 445.00 Mil | 465.00 Mil | 12.7% | Higher New | Guidance: 395.00 Mil for Q2 2026 | |
| Q3 2026 Non-GAAP Adjusted EBITDA | Reported | 17.00 Mil | 18.50 Mil | 20.00 Mil | 19.4% | Higher New | Guidance: 15.50 Mil for Q2 2026 | |
| Q3 2026 GAAP Net Income | Reported | 7.00 Mil | 8.50 Mil | 10.00 Mil | 6.2% | Higher New | Guidance: 8.00 Mil for Q2 2026 | |
| Q3 2026 GAAP Diluted EPS | Reported | 0.21 | 0.26 | 0.3 | 4.1% | Higher New | Guidance: 0.24 for Q2 2026 | |
| Q3 2026 Non-GAAP Adjusted Diluted EPS | Reported | 0.3 | 0.34 | 0.39 | 3.0% | Higher New | Guidance: 0.34 for Q2 2026 | |
| 2026 FY26 annual effective tax rate | Reported | 30.0% | 32.0% | 34.0% | 1.0% | Raised | Guidance: 31.0% for 2026 | |
| 2026 Diluted weighted average shares outstanding | Reported | 33.00 Mil | 0.8% | Raised | Guidance: 32.75 Mil for 2026 | |||
Q1 2026 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 GMV | Reported | 375.00 Mil | 395.00 Mil | 415.00 Mil | 1.9% | Higher New | Guidance: 387.50 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP Adjusted EBITDA | Reported | 14.00 Mil | 15.50 Mil | 17.00 Mil | 3.3% | Higher New | Guidance: 15.00 Mil for Q1 2026 | |
| Q2 2026 GAAP Net Income | Reported | 6.50 Mil | 8.00 Mil | 9.50 Mil | 23.1% | Higher New | Guidance: 6.50 Mil for Q1 2026 | |
| Q2 2026 GAAP Diluted EPS | Reported | 0.2 | 0.24 | 0.29 | 22.5% | Higher New | Guidance: 0.2 for Q1 2026 | |
| Q2 2026 Non-GAAP Adjusted Diluted EPS | Reported | 0.29 | 0.34 | 0.38 | 11.7% | Higher New | Guidance: 0.3 for Q1 2026 | |
| 2026 Annual Effective Tax Rate | Reported | 28.0% | 31.0% | 34.0% | 0.0% | Affirmed | Guidance: 31.0% for 2026 | |
| 2026 Diluted weighted average number of shares outstanding | Reported | 32.50 Mil | 32.75 Mil | 33.00 Mil | ||||
Q4 2025 Earnings Reported 11/20/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 GMV | Reported | 370.00 Mil | 387.50 Mil | 405.00 Mil | 4.0% | Higher New | Guidance: 372.50 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP Adjusted EBITDA | Reported | 13.50 Mil | 15.00 Mil | 16.50 Mil | 3.4% | Higher New | Guidance: 14.50 Mil for Q4 2025 | |
| Q1 2026 GAAP Net Income | Reported | 5.00 Mil | 6.50 Mil | 8.00 Mil | 0 | Same New | Guidance: 6.50 Mil for Q4 2025 | |
| Q1 2026 GAAP Diluted EPS | Reported | 0.15 | 0.2 | 0.25 | 0 | Same New | Guidance: 0.2 for Q4 2025 | |
| Q1 2026 Non-GAAP Adjusted Diluted EPS | Reported | 0.25 | 0.3 | 0.35 | 3.4% | Higher New | Guidance: 0.29 for Q4 2025 | |
| 2026 Annual Effective Tax Rate | Reported | 28.0% | 31.0% | 34.0% | 3.0% | Higher New | Guidance: 28.0% for 2025 | |
Insider Activity
Updated 9/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 9022026 | 41.27 | 715 | 29,508 | 1,571,809 | Form |
| 2 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 8052026 | 39.00 | 715 | 27,885 | 1,485,354 | Form |
| 3 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 7062026 | 39.13 | 462 | 18,078 | 1,490,305 | Form |
| 4 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 6302026 | 39.09 | 39 | 1,528 | 1,488,782 | Form |
| 5 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 6262026 | 39.24 | 10,139 | 397,834 | 1,494,417 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 9022026 | 41.27 | 715 | 29,508 | 1,571,809 | Form |
| 2 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 8052026 | 39.00 | 715 | 27,885 | 1,485,354 | Form |
| 3 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 7062026 | 39.13 | 462 | 18,078 | 1,490,305 | Form |
| 4 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 6302026 | 39.09 | 39 | 1,528 | 1,488,782 | Form |
| 5 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 6262026 | 39.24 | 10,139 | 397,834 | 1,494,417 | Form |
| 6 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 6242026 | 37.99 | 38,471 | 1,461,513 | 6,244,796 | Form | |
| 7 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 6242026 | 37.95 | 1,011 | 38,367 | 7,698,195 | Form | |
| 8 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 6222026 | 37.95 | 9,791 | 371,568 | 7,736,563 | Form | |
| 9 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 6172026 | 37.95 | 33,727 | 1,279,940 | 8,108,131 | Form | |
| 10 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 6172026 | 37.95 | 2,000 | 75,900 | 9,388,071 | Form | |
| 11 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 6122026 | 38.00 | 2,409 | 91,542 | 2,542,010 | Form |
| 12 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 6082026 | 37.26 | 3,842 | 143,153 | 2,492,508 | Form |
| 13 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 6032026 | 36.79 | 9,951 | 366,122 | 2,461,234 | Form |
| 14 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 5282026 | 36.40 | 6,098 | 221,945 | 2,434,737 | Form |
| 15 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 5282026 | 36.06 | 5,320 | 191,848 | 2,412,339 | Form |
| 16 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 5282026 | 35.24 | 11,303 | 398,360 | 1,796,197 | Form |
| 17 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 5262026 | 34.23 | 11,477 | 392,907 | 2,004,724 | Form |
| 18 | Shaffer, Mark A | VP, Gen. Counsel & Secretary | The Mark A. Shaffer Revocable Trust | Sell | 5262026 | 34.00 | 45,246 | 1,538,364 | 965,532 | Form |
| 19 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 5262026 | 34.45 | 493 | 16,984 | 2,384,698 | Form |
| 20 | Shaffer, Mark A | VP, Gen. Counsel & Secretary | The Mark A. Shaffer Revocable Trust | Sell | 5132026 | 34.69 | 6,763 | 234,593 | 2,381,866 | Form |
| 21 | Mateus-Tique, Jaime | Direct | Sell | 5132026 | 34.52 | 6,913 | 238,637 | 379,064 | Form | |
| 22 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 5072026 | 37.00 | 2,600 | 96,200 | 1,393,124 | Form |
| 23 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 4282026 | 35.06 | 2,600 | 91,156 | 1,411,235 | Form |
| 24 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 4162026 | 33.02 | 2,600 | 85,852 | 1,414,973 | Form |
| 25 | Daunt, John | EVP, Chief Commercial Officer | The Daunt Family Trust | Sell | 3132026 | 31.67 | 2,600 | 82,342 | 1,439,465 | Form |
| 26 | Murray, Novelette | Chief Human Resources Officer | Direct | Sell | 3132026 | 31.50 | 1,826 | 57,519 | 792,918 | Form |
| 27 | Angrick, William P Iii | Chairman of the Board and CEO | the William P. Angrick III Revocable Trust | Sell | 3102026 | 32.00 | 44,115 | 1,411,680 | 166,922,656 | Form |
| 28 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 3102026 | 32.07 | 4,967 | 159,284 | 2,100,326 | Form |
| 29 | Angrick, William P Iii | Chairman of the Board and CEO | the William P. Angrick III Revocable Trust | Sell | 3102026 | 32.05 | 5,885 | 188,614 | 168,597,358 | Form |
| 30 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 2092026 | 33.20 | 52,061 | 1,728,425 | 3,290,485 | Form | |
| 31 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 2092026 | 33.19 | 1,100 | 36,509 | 5,017,399 | Form | |
| 32 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 2092026 | 33.20 | 12,290 | 408,028 | 5,055,430 | Form | |
| 33 | Dyer, Katharin S | Direct | Sell | 12122025 | 31.62 | 8,196 | 259,158 | 1,150,810 | Form | |
| 34 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 12122025 | 31.45 | 1,209 | 38,023 | 1,528,313 | Form |
| 35 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 12012025 | 30.01 | 2,451 | 73,555 | 1,029,583 | Form |
| 36 | Celaya, Jorge | EVP & Chief Financial Officer | the Jorge Celaya Revocable Trust | Sell | 12012025 | 30.24 | 15,114 | 457,047 | 992,356 | Form |
| 37 | Ellis, George H | Direct | Sell | 11262025 | 28.67 | 4,500 | 129,015 | 321,333 | Form | |
| 38 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 11262025 | 28.03 | 10,507 | 294,544 | 1,285,822 | Form |
| 39 | Weiskircher, Steven | SVP & Chief Technology Officer | Direct | Sell | 11262025 | 28.26 | 946 | 26,734 | 1,435,721 | Form |
| 40 | Shaffer, Mark A | VP, Gen. Counsel & Secretary | The Mark A. Shaffer Revocable Trust | Sell | 11262025 | 28.54 | 1,719 | 49,060 | 1,360,530 | Form |
| 41 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 9162025 | 27.45 | 5,403 | 148,312 | 4,517,227 | Form | |
| 42 | Mateus-Tique, Jaime | the Em El 2007 Irrevocable Trust | Sell | 9162025 | 27.44 | 4,597 | 126,142 | 4,663,840 | Form |
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Core Cache Last Updated: 9/7/2026