The strong Q2 beat and Q3 guidance above consensus suggest upward EPS estimate revisions. With $204M cash, zero debt, and a $15M buyback authorization remaining, the company has ample capital flexibility. Monitor the Q3 earnings call for updates on RSCG consignment growth trajectory and GovDeals real estate pipeline, which could drive further upside.
Price Chart
Executive Summary
Liquidity Services reported Q2 FY2026 (Mar 31, 2026) results with GAAP EPS of $0.23 (up 5% YoY) and Non-GAAP Adjusted Diluted EPS of $0.35 (up 13% YoY), beating the consensus estimate of $0.30 by 16.7%. Revenue of $120.7M grew 4% YoY, driven by broad-based segment growth, while Non-GAAP Adjusted EBITDA surged 37% to $16.7M, reflecting strong operating leverage. The company guided Q3 FY2026 Non-GAAP Adjusted Diluted EPS of $0.30-$0.39, with the midpoint of $0.345 slightly above the $0.30 consensus, supporting a bullish outlook.
Key Financial Metrics
Key Facts
- GAAP Diluted EPS of $0.23 vs $0.22 YoY, up 5%
- Non-GAAP Adjusted Diluted EPS of $0.35 vs consensus $0.30, a 16.7% beat
- Revenue of $120.7M, up 4% YoY from $116.4M
- GMV of $389.9M, up 6% YoY
- Non-GAAP Adjusted EBITDA of $16.7M, up 37% YoY from $12.2M
- Q3 FY2026 guidance: Non-GAAP Adjusted Diluted EPS $0.30-$0.39 (midpoint $0.345 vs consensus $0.30)
- Cash and short-term investments of $204.0M with zero debt
- RSCG segment direct profit up 29% YoY; GovDeals revenue up 11%
Financial Impact
EPS beat of $0.05 (16.7%) vs consensus on $120.7M revenue; guidance midpoint $0.345 vs $0.30 consensus implies ~15% upside to forward estimates
Risk Factors
- Q3 guidance midpoint implies sequential EPS decline from Q2's $0.35 to ~$0.345, reflecting seasonal and mix headwinds
- RSCG purchase GMV expected to be 'sequentially consistent with a less favorable product mix' in Q3
- Effective tax rate expected to rise to mid-30s in Q3, pressuring GAAP net income growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3289770 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 26d ago | Press Release | $43.23 $43.13 | ▼ −0.23% | ▼ −1.39% | $44.80 (+3.63%) |
Aug 6, 2026 11w ago | 8-K | $42.01 $42.94 | ▲ +2.21% | ▲ +1.00% | $44.80 (+6.64%) |
Jul 7, 2026 16w ago | Press Release | $38.03 $38.93 | ▲ +2.37% | ▲ +1.82% | $44.80 (+17.80%) |
Jul 7, 2026 16w ago | 8-K | $38.03 $38.93 | ▲ +2.37% | ▲ +1.82% | $44.80 (+17.80%) |
Jun 26, 2026 17w ago | 8-K | $39.09 $38.38 | ▼ −1.83% | ▼ −3.22% | $44.80 (+14.61%) |
Jun 26, 2026 17w ago | Insider Cluster | $39.09 $38.38 | ▼ −1.83% | ▼ −3.22% | $44.80 (+14.61%) |
Jun 11, 2026 19w ago | Institutional Cluster | $37.94 $36.54 | ▲ +3.69% | ▲ +4.12% | $44.80 (−18.08%) |
May 28, 2026 21w ago | Insider Cluster | $36.21 $37.23 | ▲ +2.82% | ▲ +5.34% | $44.80 (+23.72%) |
May 27, 2026 21w ago | Insider Cluster | $36.33 $36.94 | ▲ +1.68% | ▲ +1.36% | $44.80 (+23.31%) |
May 26, 2026 22w ago | Insider Cluster | $36.06 $36.14 | ▲ +0.22% | ▼ −0.25% | $44.80 (+24.24%) |
US Market Status
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