Filing Flows › Liquidity Services (LQDT) › Q2 FY25
Liquidity Services (LQDT) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 8, 2025
Liquidity Services (LQDT) reported revenue of $116M for the second quarter fiscal 2025 (Q2 FY25), +27% from a year earlier and -5% from the quarter before. Operating margin was 5.8%, net earnings $7.1M (6.1% of revenue).
Liquidity Services, Q2 FY25: revenue $116M (+27% year over year), operating margin 5.8%, net earnings $7.1M, operating cash flow $21.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $116M | -5% | +27% |
| Gross profit | $47.4M | -5% | +0.4% |
| Operating profit | $6.8M | -4% | +3% |
| Net earnings | $7.1M | +21% | +24% |
| Operating cash flow | $21.6M | — | -38% |
| Free cash flow | $19.8M | — | -39% |
What changed
Revenue was $116.4M in Q2 FY25, up 27% year over year and down 5% from the previous quarter. Product was the largest line at 67% of revenue. Product added $24.7M year over year (up 47%), 99% of the total change.
Gross margin was 40.8%, down 10.9 points from a year earlier. Operating profit was $6.8M, a 5.8% margin (down 1.4 points year over year). Of the extra revenue versus a year earlier, 1% reached operating profit, below the 7% margin then. Operating expenses fell 0% while revenue rose 27%. Net earnings were $7.1M, up 24% year over year. The effective tax rate was 8.5%.
Operating cash flow was $21.6M (down 38% year over year), 307% of net earnings. Non-cash charges added back $2.6M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $9.4M. Capital expenditures of $1.9M left free cash flow of $19.8M.
Questions
What was Liquidity Services' revenue in the second quarter fiscal 2025?
Liquidity Services (LQDT) reported revenue of $116M for the second quarter fiscal 2025 (Q2 FY25), +27% from a year earlier and -5% from the quarter before.
Was Liquidity Services profitable in the second quarter fiscal 2025?
Operating profit was $6.8M (5.8% of revenue) and net earnings $7.1M.
Source: Liquidity Services 10-Q on SEC EDGAR.