Filing Flows › Liquidity Services (LQDT) › Q1 FY26
Liquidity Services (LQDT) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 5, 2026
Liquidity Services (LQDT) reported revenue of $121M for the first quarter fiscal 2026 (Q1 FY26), -0.9% from a year earlier and +3% from the quarter before. Operating margin was 7.7%, net earnings $7.5M (6.2% of revenue).
Liquidity Services, Q1 FY26: revenue $121M (-0.9% year over year), operating margin 7.7%, net earnings $7.5M, operating cash flow −$526K. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $121M | +3% | -0.9% |
| Gross profit | $57.0M | +1% | +14% |
| Operating profit | $9.4M | -14% | +32% |
| Net earnings | $7.5M | -4% | +29% |
| Operating cash flow | −$526K | -101% | — |
What changed
Revenue was $121.2M in Q1 FY26, down 1% year over year and up 3% from the previous quarter. Product was the largest line at 64% of revenue. Product lost $5.5M year over year (down 7%), 491% of the total change.
Gross margin was 47.0%, up 6.0 points from a year earlier. Operating profit was $9.4M, a 7.7% margin (up 1.9 points year over year). Operating expenses grew 11% against a revenue fall of 1%. The fastest-growing cost line was General & admin (+18%). Net earnings were $7.5M, up 29% year over year. The effective tax rate was 28.8%.
Operating cash flow was −$526K. Non-cash charges added back $2.6M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items used $16.8M. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$2.8M.
Questions
What was Liquidity Services' revenue in the first quarter fiscal 2026?
Liquidity Services (LQDT) reported revenue of $121M for the first quarter fiscal 2026 (Q1 FY26), -0.9% from a year earlier and +3% from the quarter before.
Was Liquidity Services profitable in the first quarter fiscal 2026?
Operating profit was $9.4M (7.7% of revenue) and net earnings $7.5M.
Source: Liquidity Services 10-Q on SEC EDGAR.