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Liquidity Services (LQDT) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Liquidity Services (LQDT) Q3 FY26 earnings results →

Q3 FY26 Revenue up 8% year over year to $130M · 8¢ of every $1 of revenue kept as net profit · operating margin 10.9%

Liquidity Services made $130M in Q3 FY26 (+8% Y/Y): Product $81.8M, Consignment and Other Fee Revenues $47.7M. Operating margin 10.9%, net earnings $10.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$130M
Year over year+8%
Operating margin10.9%
Net earnings$10.4M
Operating cash flow$31.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $129.6M in Q3 FY26, up 8% year over year and up 7% from the previous quarter. Product was the largest line at 63% of revenue. Product added $5.3M year over year (up 7%), 55% of the total change.

Gross margin was 49.3%, up 3.6 points from Q3 FY25. Operating profit was $14.1M, a 10.9% margin (up 2.4 points year over year). Of the extra revenue versus Q3 FY25, 40% reached operating profit, above the 9% margin then. Operating expenses grew 12% against revenue growth of 8%. The fastest-growing cost line was General & admin (+23%). Net earnings were $10.4M, up 41% year over year. The effective tax rate was 32.7%.

Operating cash flow was $31.2M (up 62% year over year), 299% of net earnings. Non-cash charges added back $2.7M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $12.8M. Capital expenditures of $1.8M left free cash flow of $29.4M.

Quarterly history

Liquidity Services revenue by quarterLiquidity Services revenue by quarter$107MQ4 FY24$116MQ2 FY25$120MQ3 FY25$118MQ4 FY25$121MQ1 FY26$121MQ2 FY26$130MQ3 FY26
Liquidity Services net earnings by quarterLiquidity Services net earnings by quarter$6.4MQ4 FY24$7.1MQ2 FY25$7.4MQ3 FY25$7.8MQ4 FY25$7.5MQ1 FY26$7.5MQ2 FY26$10.4MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$130M+8%10.9%$10.4M$31.2M
Q2 FY2610-QMay 7, 2026$121M+4%8.0%$7.5M$29.5M
Q1 FY2610-QFeb 5, 2026$121M-0.9%7.7%$7.5M−$526K
Q4 FY2510-KNov 20, 2025$118M+10%9.3%$7.8M$38.0M
Q3 FY2510-QAug 7, 2025$120M+28%8.5%$7.4M$19.3M
Q2 FY2510-QMay 8, 2025$116M+27%5.8%$7.1M$21.6M
Q4 FY2410-KDec 12, 2024$107M+34%6.8%$6.4M$22.0M

Charts

Liquidity Services: revenue growth, year over year and quarter over quarterLiquidity Services: revenue growth, year over year and quarter over quarterY/YQ/Q+34%Q4 FY24+27%+9%Q2 FY25+28%+3%Q3 FY25+10%-1%Q4 FY25-1%+3%Q1 FY26+4%0%Q2 FY26+8%+7%Q3 FY26
Latest (Q3 FY26): Y/Y +8%, Q/Q +7%.
Liquidity Services: where the cash came from (+) and went (−), TTM to Q3 FY26Liquidity Services: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$98.2MCash drawn (+) / kept (−)−$64.1MBuybacks−$17.6MTaxes on employees’ shares−$8.6MCapital spending−$8.2MShares issued$1.1MOther investing−$462KExchange rates−$164KNet borrowing (+) / repaid (−)−$109KAcquisitions$4K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Liquidity Services: profit against cash, quarter by quarterLiquidity Services: profit against cash, quarter by quarterNet incomeOperating cash flow$6.4M$22.0MQ4 FY24$5.8M−$12.1MQ1 FY25$7.1M$21.6MQ2 FY25$7.4M$19.3MQ3 FY25$7.8M$38.0MQ4 FY25$7.5M−$526KQ1 FY26$7.5M$29.5MQ2 FY26$10.4M$31.2MQ3 FY26
Latest (Q3 FY26): Net income $10.4M, Operating cash flow $31.2M.
Liquidity Services: diluted shares by fiscal yearLiquidity Services: diluted shares by fiscal year34MFY2035MFY2134MFY2232MFY2332MFY2432MFY25
-3.6% since FY20: buybacks shrank the count.
Liquidity Services in its industry: growth against margin (87 companies, SIC 7389)Liquidity Services in its industry: growth against margin (87 companies, SIC 7389)revenue growth, year over year →↑ operating marginmedian +8%median 7%ACNUBERVMELIMAPYPLFISVDASHAMTMFISGPNEBAYCNXCLYFTBRCPAYFOURRBAMMSTNETAKAMCARTWUCSGPADVMSCIWEXZGCBZETSYFICOTICEXLSCNDTRELYALITMBGLQNSTMAXPAYHQYPAYOPRTHCTEVXMTRFLYWGETYANDGNUTXACVAXBPSEZLIMXIPHRRMNIRPAYRGPSCORJANLCASSAMWLSGRPDHXBAERPAYSOPRXNOTEHGBLPOWWRSSSDVLTPAYDQMCIINVUTGLASFHCJMBOLBXHLDFTFTDBMMCNFNSRCOGBUXWASTBCRDLQDT (+8%, 11%)
Services-Business Services, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

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About Liquidity Services

Liquidity Services (NASDAQ:LQDT) is the leading global provider of e-commerce marketplaces and software solutions powering the circular economy with over $15 billion in completed transactions to more than six million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

In its own words, from its 8-K, filed Aug 6, 2026.

Liquidity Services against its Services-Business Services, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +10%. Operating margin: 10.9% against the peers' median 10.9%.

CompanyQuarterRevenueY/YOp. margin
LQDT Liquidity ServicesQ3 FY26$130M+8%10.9%
ACN AccentureQ4 FY26$18.7B+6%15.3%
UBER Uber TechnologiesQ3 2026$14.8B+10%9.8%
V VisaQ4 FY26$12.1B+13%59.8%
MELI MercadoLibreQ3 2026$10.8B+45%6.3%
MA MastercardQ3 2026$9.8B+14%59.8%
PYPL PayPal HoldingsQ3 2026$8.6B+2%16.3%
FISV FiservQ3 2026$5.2B-1%-105.7%
DASH DoorDashQ3 2026$4.6B+34%9.6%

Source: Liquidity Services 10-Q on SEC EDGAR · CIK 1235468 · Services-Business Services, NEC

13F: who owns LQDT and who is buying

Largest holders of LQDT (13F)Largest holders of LQDT (13F)BlackRock$141MAmeriprise Financial$60.2MTruist Financial$56.7MRenaissance Technologies LLC$56.3MVanguard Group$55.0MAcadian Asset Management LLC$43.7MVanguard Capital Management LLC$38.4MPunch & Associates Investment Man…$37.3MState Street$36.1MDimensional Fund Advisors LP$35.8M
Funds' net buying of LQDT by quarter (13F)Funds' net buying of LQDT by quarter (13F)$7.6M2024-09−$579K2024-12$64.0M2025-03$46.0M2025-06−$20.9M2025-09−$5.4M2025-12$6.3M2026-03$28.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LQDT

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Liquidity Services（LQDT）财报

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