Filing Flows › Liquidity Services (LQDT) › Q3 FY26 › vs Q3 FY25
Liquidity Services (LQDT) Q3 FY26 vs Q3 FY25 (year over year)
Liquidity Services's revenue rose $9.7M (+8%) from $120M in Q3 FY25 to $130M in Q3 FY26. The biggest changes: Product +$5.3M (+7%); Consignment and Other Fee Revenues +$4.4M (+10%). Gross margin 49.3% against 45.7% (+3.6 pts).
Liquidity Services, Q3 FY26: revenue $130M (+8% year over year), operating margin 10.9%, net earnings $10.4M, operating cash flow $31.2M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 49.3% | 45.7% | +3.6 pts |
| Operating margin | 10.9% | 8.5% | +2.4 pts |
| Net margin | 8.0% | 6.2% | +1.9 pts |
| Free cash flow margin | 22.7% | 14.3% | +8.4 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Product | $81.8M | $76.5M | $5.3M | +7% |
| Consignment and Other Fee Revenues | $47.7M | $43.4M | $4.4M | +10% |
| Revenue | $130M | $120M | $9.7M | +8% |
| Gross profit | $63.8M | $54.8M | $9.1M | +17% |
| Cost of revenue | $65.7M | $65.1M | $631K | +1% |
| Other income, net | $1.4M | $1.1M | $283K | +26% |
| Operating profit | $14.1M | $10.2M | $3.9M | +38% |
| Operating expenses | $49.7M | $44.5M | $5.2M | +12% |
| Pre-tax earnings | $15.5M | $11.3M | $4.2M | +37% |
| Sales & marketing | $17.6M | $15.7M | $1.9M | +12% |
| General & admin | $10.1M | $8.2M | $1.9M | +23% |
| Other operating costs | $21.9M | $20.6M | $1.3M | +6% |
| Net earnings | $10.4M | $7.4M | $3.0M | +41% |
| Income tax | $5.1M | $3.9M | $1.2M | +31% |
| Depreciation & amortization | $2.7M | $2.7M | $26K | +1% |
| Share-based compensation | $5.3M | $3.5M | $1.8M | +50% |
| Working capital & other | $12.8M | $5.7M | $7.1M | +125% |
| Operating cash flow | $31.2M | $19.3M | $11.9M | +62% |
| Free cash flow (OCF − capex) | $29.4M | $17.2M | $12.2M | +71% |
| Capital expenditures | $1.8M | $2.1M | −$334K | -16% |
Questions
How much did Liquidity Services's revenue grow year over year in Q3 FY26?
Liquidity Services's revenue rose $9.7M (+8%) from $120M in Q3 FY25 to $130M in Q3 FY26.
What drove Liquidity Services's revenue change in Q3 FY26?
Product +$5.3M (+7%); Consignment and Other Fee Revenues +$4.4M (+10%).