Exchange: NASDAQ·Updated 07:30 PM EDT
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LQDT Liquidity Services Inc

$44.62
$0.67
(1.48%)
Today
Closed $44.62
$0.00
(0.00%)
After Hours
EarningsNov 19
Mkt Cap$1.4B
Vol186,022.00

About LQDT

Liquidity Services, Inc. engages in the provision of e-commerce solutions to manage, value, and sell inventory and equipment for business and government clients. It operates through the following business segments: GovDeals, Capital Assets Group (CAG), Retail Supply Chain Group (RSCG), and Machinio. The GovDeals segment provides self-directed service solutions that enable local and state government entities including city, county, and state agencies to sell surplus and salvage assets through the firm's GovDeals marketplace. The CAG segment offers managed and self-directed service solutions to sellers and consists of marketplaces that enable commercial businesses to sell surplus and idle assets. CAG also offers a suite of services that includes surplus management, asset valuation, asset sales, and marketing. The RSCG segment consists of marketplaces that enable corporations located in the U.S. and Canada to sell surplus and salvage consumer goods and retail capital assets. Its services also include returns management, asset recovery, and e-commerce services. The Machinio segment operates a global search engine platform for listing used equipment for sale in the construction, machine tool, transportation, printing, and agriculture sectors. The company was founded by William P. Angrick III, Jaime Mateus-Tique and Benjamin Ronald Brown in 1999 and is headquartered in Bethesda, MD.
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Bullish Sentiment

How do you feel about LQDT?

MikeyMcDermott
$LQDT some high value stuff for sale on the site. Not sure if there is massive organic growth -- maybe 8-10% GMV growth -- but they added 500 million GMV inorganically for pretty low purchase price. What will be interesting the guidance is ... should be 500M+ GMV Q1 ... maybe some solid earnings leverage. I'm surprised they haven't opened more Retail Rush locations.
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MikeyMcDermott
$LQDT I believe Angrick was talking about 100 million EBITDA when they reached 2B GMV. They should be there in 2027 even before the recent acquisition which they pegged at 500 million GMV. Maybe some integration costs? But if they are are 2.5B GMV in FY27 -- maybe 120 million EBITDA? vs $1.2 billion EV here -- about 10x? Doesn't seem overly demanding in terms of valution. But not sure there is massive upside --- but maybe market kicks it up to 15x on accelerating growth? That puts valuation near $2B.
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MikeyMcDermott
$LQDT somehow missed the 8-K. Picked up AuctionZip with 500 million GMV for 80 millio. Nice acquistion by Angrick in some new auction verticals. LQDT seems like it might just become a holding company for all sorts of online auction roll up strategy.

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