LIQUIDITY SERVICES INC

Liquidity Services, Inc. is a global provider of e-commerce marketplaces and software solutions for the circular economy. The company connects buyers and sellers through e-commerce auction marketplaces, search engines, asset management, and auction software, along with related services. These solutions facilitate the recovery of value from excess items from business and government sellers. Over the past three fiscal years, Liquidity Services conducted over 3.1 million online transactions, generating $4.1 billion in gross merchandise volume (GMV). GMV represents the total sales value of all completed transactions through the company's marketplaces or other channels where compensation was earned. For the year ended September 30, 2025, the number of registered buyers increased from 5.5 million to 6.0 million, a 9.5% growth. During the same period, the company generated $1.6 billion in GMV and $477.7 million in revenue. Revenue sources include transaction fees from sellers and buyers, proceeds from the sale of purchased products, and value-added service charges. Over the prior 5 years, GMV has grown at a compound annual growth rate of 20.4%. Liquidity Services was incorporated in Delaware as Liquidation.com in November 1999. On January 31, 2025, the company established its Software Solutions operating segment by acquiring Auction Software, a private-label marketplace and SaaS solutions provider offering scalable auction platform services.