Filing Flows › Liquidity Services (LQDT) › Q3 FY25
Liquidity Services (LQDT) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 7, 2025
Liquidity Services (LQDT) reported revenue of $120M for the third quarter fiscal 2025 (Q3 FY25), +28% from a year earlier and +3% from the quarter before. Operating margin was 8.5%, net earnings $7.4M (6.2% of revenue).
Liquidity Services, Q3 FY25: revenue $120M (+28% year over year), operating margin 8.5%, net earnings $7.4M, operating cash flow $19.3M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $120M | +3% | +28% |
| Gross profit | $54.8M | +15% | +11% |
| Operating profit | $10.2M | +50% | +29% |
| Net earnings | $7.4M | +5% | +24% |
| Operating cash flow | $19.3M | -11% | -13% |
| Free cash flow | $17.2M | -13% | -15% |
What changed
Revenue was $119.9M in Q3 FY25, up 28% year over year and up 3% from the previous quarter. Product was the largest line at 64% of revenue. Product added $23.1M year over year (up 43%), 88% of the total change.
Gross margin was 45.7%, down 7.1 points from a year earlier. Operating profit was $10.2M, a 8.5% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, above the 8% margin then. Operating expenses grew 7% against revenue growth of 28%. The fastest-growing cost line was Sales & marketing (+14%). Net earnings were $7.4M, up 24% year over year. The effective tax rate was 34.4%.
Operating cash flow was $19.3M (down 13% year over year), 260% of net earnings. Non-cash charges added back $2.7M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items added $5.7M. Capital expenditures of $2.1M left free cash flow of $17.2M.
Questions
What was Liquidity Services' revenue in the third quarter fiscal 2025?
Liquidity Services (LQDT) reported revenue of $120M for the third quarter fiscal 2025 (Q3 FY25), +28% from a year earlier and +3% from the quarter before.
Was Liquidity Services profitable in the third quarter fiscal 2025?
Operating profit was $10.2M (8.5% of revenue) and net earnings $7.4M.
Source: Liquidity Services 10-Q on SEC EDGAR.