The strong beat and above-consensus Q4 guidance suggest accelerating marketplace adoption and margin expansion. Traders should watch for continued GMV growth and operating leverage in the seasonally strong Q4, with potential for further upside if the RSCG and GovDeals segments sustain their record momentum.
Price Chart
Executive Summary
Liquidity Services reported a strong Q3 FY2026 beat, with revenue of $129.6M (+8% YoY) and GAAP diluted EPS of $0.32 (+39% YoY), both exceeding consensus estimates. The company also guided Q4 FY2026 GAAP diluted EPS of $0.30-$0.39, above the Street's $0.23 consensus, driven by record GMV of $453M (+10% YoY) and operating leverage across all segments. The strong beat and raised guidance signal accelerating marketplace adoption and margin expansion.
Key Financial Metrics
Key Facts
- Revenue of $129.6M (+8% YoY) beat consensus of $119.9M.
- GAAP diluted EPS of $0.32 (+39% YoY) beat consensus of $0.34.
- Record quarterly GMV of $453.0M (+10% YoY), led by RSCG (+19%) and GovDeals (+9%).
- Non-GAAP Adjusted EBITDA of $22.0M (+30% YoY) with strong operating leverage.
- Q4 FY2026 guidance: GAAP diluted EPS $0.30-$0.39, above Street consensus of $0.23.
- Cash balance of $231.1M with zero financial debt.
Financial Impact
Revenue beat by ~8% vs consensus; EPS beat by ~32% vs consensus; Q4 EPS guidance midpoint 50% above Street consensus.
Risk Factors
- Sequential GMV and revenue decline expected in Q4 per guidance, though profitability is guided higher.
- CAG segment GMV declined 1% YoY, showing variability in project timing.
- Auction participants decreased 5% YoY, potentially signaling buyer engagement softness.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-336662 |
| Document: lqdt-20260806.htm | 0001193125-26-336662 |
| Document: 0001193125-26-336662-index-headers.html | 0001193125-26-336662 |
| Document: 0001193125-26-336662-index.html | 0001193125-26-336662 |
| Document: 0001193125-26-336662.txt | 0001193125-26-336662 |
| 8-K Data (Synthetic) | 0001193125-26-336662 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | Press Release | $43.23 $43.13 | ▼ −0.23% | ▼ −1.39% | $45.42 (+5.07%) |
Aug 6, 2026 11w ago | 8-K | $42.01 $42.94 | ▲ +2.21% | ▲ +1.00% | $45.42 (+8.12%) |
Jul 7, 2026 15w ago | Press Release | $38.03 $38.93 | ▲ +2.37% | ▲ +1.82% | $45.42 (+19.43%) |
Jul 7, 2026 15w ago | 8-K | $38.03 $38.93 | ▲ +2.37% | ▲ +1.82% | $45.42 (+19.43%) |
Jun 26, 2026 17w ago | 8-K | $39.09 $38.38 | ▼ −1.83% | ▼ −3.22% | $45.42 (+16.19%) |
Jun 26, 2026 17w ago | Insider Cluster | $39.09 $38.38 | ▼ −1.83% | ▼ −3.22% | $45.42 (+16.19%) |
Jun 11, 2026 19w ago | Institutional Cluster | $37.94 $36.54 | ▲ +3.69% | ▲ +4.12% | $45.42 (−19.72%) |
May 28, 2026 21w ago | Insider Cluster | $36.21 $37.23 | ▲ +2.82% | ▲ +5.34% | $45.42 (+25.43%) |
May 27, 2026 21w ago | Insider Cluster | $36.33 $36.94 | ▲ +1.68% | ▲ +1.36% | $45.42 (+25.02%) |
May 26, 2026 21w ago | Insider Cluster | $36.06 $36.14 | ▲ +0.22% | ▼ −0.25% | $45.42 (+25.96%) |
US Market Status
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