Filing Flows

Filing Flows › Companies › Liquidity Services › Cash flow

Liquidity Services cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$29.4M in Q3 FY26 · $90.0M over twelve months

Operating cash flow$31.2M
Capital spending−$1.8M
Free cash flow+$29.4M
Cash / net income3.0×
Cash conversion cycle-45 days

Analysis

In Q3 FY26, Liquidity Services generated $31.2M of operating cash flow and spent $1.8M on capital projects, leaving free cash flow of $29.4M. That is $12.2M more than in Q3 FY25 ($17.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was $98.2M; the largest uses were buybacks ($17.6M), taxes on employees’ shares ($8.6M), capital spending ($8.2M); besides operations, cash came from shares issued ($1.1M), acquisitions ($4K); the cash balance rose by $64.1M.

Operating cash flow was $31.2M against net income of $10.4M — 3.0× profit, cash ran ahead of reported earnings. The largest differences: payables +$12.4M, stock-based pay +$5.3M, accrued liabilities +$4.6M.

Its cash conversion cycle was -45 days (receivables 9 + inventory 25 − payables 79): suppliers fund its working capital.

Free cash flow

Liquidity Services: free cash flow by quarterLiquidity Services: free cash flow by quarter$19.2MQ4 FY24−$14.0MQ1 FY25$19.8MQ2 FY25$17.2MQ3 FY25$36.0MQ4 FY25−$2.8MQ1 FY26$27.4MQ2 FY26$29.4MQ3 FY26
Operating cash flow less capital spending.
Liquidity Services: operating cash flow against capital spendingLiquidity Services: operating cash flow against capital spendingOperating cash flowCapital spending$22.0M$2.8MQ4 FY24−$12.1M$1.8MQ1 FY25$21.6M$1.9MQ2 FY25$19.3M$2.1MQ3 FY25$38.0M$2.0MQ4 FY25−$526K$2.3MQ1 FY26$29.5M$2.1MQ2 FY26$31.2M$1.8MQ3 FY26
Latest (Q3 FY26): Operating cash flow $31.2M, Capital spending $1.8M.

Capital allocation, year by year

Liquidity Services: where the cash came from (up) and went (down), by fiscal yearLiquidity Services: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $65.4MFY21: Net borrowing −$42KFY21: Shares issued $445KFY21: Asset sales $105KFY21: Capital spending −$5.4MFY21: Buybacks −$31.1M$66.0MFY21FY22: Operating cash flow $44.8MFY22: Net borrowing −$99KFY22: Capital spending −$8.1MFY22: Acquisitions −$11.2MFY22: Buybacks −$25.4M$44.8MFY22FY23: Operating cash flow $47.0MFY23: Net borrowing −$101KFY23: Shares issued $496KFY23: Capital spending −$5.4MFY23: Buybacks −$21.2M$47.5MFY23FY24: Operating cash flow $70.2MFY24: Net borrowing −$89KFY24: Shares issued $598KFY24: Capital spending −$8.9MFY24: Acquisitions −$13.2MFY24: Buybacks −$9.4M$70.8MFY24FY25: Operating cash flow $66.8MFY25: Net borrowing −$102KFY25: Shares issued $212KFY25: Capital spending −$7.8MFY25: Acquisitions −$6.5MFY25: Buybacks −$16.2M$67.0MFY25
Over these 5 years operating cash flow totalled $294M; the largest uses were buybacks ($103M) and capital spending ($35.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$231M
Debtnone
Net cash$231M

Liquidity Services funds itself: free cash flow was $90.0M over the last twelve months, with $231M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Liquidity Services: sources (+) and uses (−) of cash, Q3 FY26Liquidity Services: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$31.2MCash drawn (+) / kept (−)−$24.4MOther investing−$2.9MTaxes on employees’ shares−$2.2MCapital spending−$1.8MShares issued$217KNet borrowing (+) / repaid (−)−$27KExchange rates$18K
Liquidity Services: sources (+) and uses (−) of cash, TTM to Q3 FY26Liquidity Services: sources (+) and uses (−) of cash, 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 profit to cash

Liquidity Services: net income to operating cash flow, Q3 FY26Liquidity Services: net income to operating cash flow, Q3 FY26Net income$10.4MDepreciation & amortization$2.7MStock-based pay$5.3MDeferred taxes$160KGains on disposals−$4KReceivables$721KInventory−$255KPayables$12.4MAccrued liabilities$4.6MDeferred revenue−$254KPrepaid and other assets−$956KOperating cash flow$31.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2692579-45
Q2 FY2692473-40
Q1 FY2692081-52
Q4 FY25122390-54
Q3 FY25162680-39
Q2 FY25172266-27
Q1 FY25132066-34
Q4 FY2492479-46

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$31.2M−$1.8M——−$27K$217K−$24.4M$29.4M
Q2 FY26$29.5M−$2.1M—−$40K−$29K$152K−$25.5M$27.4M
Q1 FY26−$526K−$2.3M—−$1.5M−$26K$737K$4.8M−$2.8M
Q4 FY25$38.0M−$2.0M$4K−$16.1M−$27K$20K−$19.0M$36.0M
Q3 FY25$19.3M−$2.1M−$213K—−$26K—−$17.1M$17.2M
Q2 FY25$21.6M−$1.9M——−$25K$78K−$9.8M$19.8M
Q1 FY25−$12.1M−$1.8M—−$79K−$24K$114K$24.5M−$14.0M
Q4 FY24$22.0M−$2.8M$108K—−$17K$470K−$22.9M$19.2M

Liquidity Services: income statement and cash flow

Liquidity Services, Q3 FY26: revenue $130M (+8% year over year), operating margin 10.9%. The chart follows the revenue to costs, profit and cash.

Liquidity Services: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.