LQDT FY 2021 Earnings Report — Liquidity Services, Inc. Revenue & Financial Results | Market Cap Arena

Liquidity Services, Inc.LQDT

FY 2021 Earnings

Reported December 9, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$258M	—	$206M	—	25.1%
Op. Income	$27M	—	-$4M	—	797.2%
Gross Margin	58.2%	—	53.4%	—	4.8pp
Net Margin	19.8%	—	-1.8%	—	21.6pp
EPS (Diluted)	$1.45	—	$-0.11	—	1418.2%
Free Cash Flow	$60M	—	$12M	—	390.3%

Revenue Flow

Item	Amount
REVENUE	$258M
Cost of Revenue	$108M
GROSS PROFIT	$150M
R&D Expenses	$48M
Selling & Marketing	$38M
General & Administrative	$29M
SG&A Expenses	$67M
Other Expenses	$8M
Operating Expenses	$123M
Cost & Expenses	$230M
OPERATING INCOME	$27M
Interest Income	$411.0K
Interest Expense	$0
Other Income/Expenses	$411.0K
INCOME BEFORE TAX	$28M
Income Tax Expense	-$23M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$51M
D&A	$7M
EBIT	$27M
EBITDA	$34M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$258M
Cost of Revenue	$108M
GROSS PROFIT	$150M
R&D Expenses	$48M
Selling & Marketing	$38M
General & Administrative	$29M
SG&A Expenses	$67M
Other Expenses	$8M
Operating Expenses	$123M
Cost & Expenses	$230M
OPERATING INCOME	$27M
Interest Income	$411.0K
Interest Expense	$0
Other Income/Expenses	$411.0K
INCOME BEFORE TAX	$28M
Income Tax Expense	-$23M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$51M
D&A	$7M
EBIT	$27M
EBITDA	$34M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$51M
Depreciation & Amortization	$7M
Stock-Based Compensation	$7M
Deferred Income Tax	-$25M
Other Non-Cash Items	$2M
Change in Working Capital	$23M
OPERATING CASH FLOW	$65M
Capital Expenditure	-$5M
Acquisitions (Net)	$105.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$1M
Net Debt Issuance	-$42.0K
Common Stock Repurchased	-$31M
Common Dividends Paid	$0
Other Financing Activities	-$4M
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$60M
Net Change in Cash	$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$106M
Short-Term Investments	$0
Net Receivables	$6M
Inventory	$12M
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$130M
PP&E (Net)	$31M
Goodwill	$60M
Intangible Assets	$3M
Long-Term Investments	$5M
Tax Assets	$24M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$125M
TOTAL ASSETS	$256M
Account Payables	$41M
Short-Term Debt	$4M
Deferred Revenue	$5M
Other Current Liabilities	$60M
TOTAL CURRENT LIABILITIES	$109M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1M
TOTAL NON-CURRENT LIABILITIES	$11M
TOTAL LIABILITIES	$121M
Common Stock	$35.0K
Additional Paid-In Capital	$252M
Retained Earnings	-$71M
Treasury Stock	-$37M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$135M
Minority Interest	$0
TOTAL EQUITY	$135M
TOTAL LIABILITIES & EQUITY	$256M
Total Debt	$15M
Net Debt	-$92M