It was a good end of year for B2B marketplace Liquidity Services, growing its gross merchandise volume (GMV) in its fiscal Q4 and 2024 overall.
Liquidity Services claims to operate the world’s largest B2B marketplace platform for surplus assets. It finished fiscal 2024 with gross merchandise volume of $1.366 billion. That’s a 13.5% increase from GMV of $1.203 billion in 2023.
Revenue grew 15.5% year over year to $363.31 million. That’s up from $314.46 million in 2023. Net income in fiscal 2024 was $19.99 million compared with $20.97 million in fiscal 2023.
Liquidity Services GMV in Q4 2024
The company now has a new goal to top $2 billion in GMV in the next few years or an even shorter period, says CEO Bill Angrick.
“Our leadership team has set its sights on the $2 billion GMV milestone, a key step toward achieving $100 million in annual EBITDA,” Angrick said during an earnings call.
To reach this target, the company will focus on four key strategies:
- Increasing market share and sales volume.
- Expanding its buyer base and sales channels.
- Infusing innovative technologies such as AI to boost operational efficiency.
- Pursuing complementary acquisitions.
Key metrics for Liquidity Services in its fiscal Q4 2024 show a 7% increase in registered buyers, totaling approximately 5.5 million. That’s up from 5.1 million in Q4 fiscal 2023. Auction participants rose by 22% to 1.016 million, up from 836,000 in the previous year. Completed transactions increased 12%, reaching around 279,000, compared to 250,000 in Q4 2023.
Angrick expressed confidence in the company’s path toward the $2 billion GMV milestone.
“The markets and the credibility and the capabilities to arrive at that $2 billion GMV destination, certainly inside of five years,” Angrick said. “And we would say in the next few years, whether that’s two years or four years or somewhere in between, the market will reveal itself. What we have great confidence in is that our solutions are solutions that our customers need and value — that we have a market-leading position to execute on that growth.”
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