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Liquidity Services vs Phreesia: LQDT and PHR compared
Liquidity Services is the larger company: $130M of revenue in its latest quarter (Q3 FY26) against $129M for Phreesia (Q2 FY27). Phreesia is growing faster (+10% against +8% a year earlier). Liquidity Services is more profitable, with an operating margin of 10.9% against 5.9%.
Where the money goes: LQDT and PHR
Liquidity Services (LQDT) · Q3 FY26
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 follows the revenue to costs, profit and cash.
Phreesia (PHR) · Q2 FY27
Phreesia, Q2 FY27: revenue $129M (+10% year over year), operating margin 5.9%, net earnings $1.9M, operating cash flow $18.3M. The chart follows the revenue to costs, profit and cash.
| Liquidity Services (LQDT) | Phreesia (PHR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q2 FY27 |
| Revenue | $130M | $129M |
| Revenue growth, Y/Y | +8% | +10% |
| Gross margin | 49.3% | — |
| Operating margin | 10.9% | 5.9% |
| Net earnings | $10.4M | $1.9M |
| Net margin | 8.0% | 1.5% |
| Operating cash flow | $31.2M | $18.3M |
| Free cash flow | $29.4M | $13.8M |
Where the revenue comes from
Liquidity Services
- Product: $81.8M (63%)
- Consignment and Other Fee Revenues: $47.7M (37%)
Phreesia
- Subscription and related services: $52.7M (41%)
- Payment solutions: $38.5M (30%)
- Network solutions: $38.3M (30%)
Questions
Which is bigger, Liquidity Services or Phreesia?
Liquidity Services is the larger company: $130M of revenue in its latest quarter (Q3 FY26) against $129M for Phreesia (Q2 FY27).
Is Liquidity Services or Phreesia growing faster?
Phreesia is growing faster (+10% against +8% a year earlier).
Which is more profitable, Liquidity Services or Phreesia?
Liquidity Services is more profitable, with an operating margin of 10.9% against 5.9%.
More: Liquidity Services earnings · how Liquidity Services makes money · Phreesia earnings · how Phreesia makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Sep 3, 2026). Fiscal quarters can end on different dates. Not investment advice.