LIQUIDITY SERVICES INC
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 8, 2024
LQDT$46.00+2.4%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(Dollars In Thousands)
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Operating activities | ||
| Net income | $1,907 | $3,967 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,904 | 2,764 |
| Stock compensation expense | 2,249 | 2,081 |
| Provision for doubtful accounts | 101 | 15 |
| Deferred tax expense | 612 | 1,181 |
| Gain on disposal of property and equipment | (14) | (45) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 64 | 3,954 |
| Inventory | (3,266) | (4,680) |
| Prepaid taxes and tax refund receivable | 358 | (202) |
| Prepaid expenses and other assets | 40 | (999) |
| Operating lease assets and liabilities | (10) | (65) |
| Accounts payable | (6,757) | (10,416) |
| Accrued expenses and other current liabilities | (6,422) | (1,744) |
| Deferred revenue | (227) | (417) |
| Payables to sellers | (412) | (5,935) |
| Other liabilities | — | (120) |
| Net cash used in operating activities | (8,873) | (10,659) |
| Investing activities | ||
| Purchases of property and equipment, including capitalized software | (1,731) | (1,212) |
| Purchase of short-term investments | (2,369) | (1,847) |
| Maturities of short-term investments | 1,986 | — |
| Other investing activities, net | 31 | 44 |
| Net cash used in investing activities | (2,083) | (3,015) |
| Financing activities | ||
| Common stock repurchases | (1,168) | (7,199) |
| Taxes paid associated with net settlement of stock compensation awards | (225) | (244) |
| Payments of the principal portion of finance lease liabilities | (26) | (25) |
| Proceeds from exercise of stock options, net of tax | 127 | 496 |
| Net cash used in financing activities | (1,292) | (6,972) |
| Effect of exchange rate differences on cash and cash equivalents | 524 | 690 |
| Net decrease in cash and cash equivalents | (11,724) | (19,956) |
| Cash and cash equivalents at beginning of period | 110,281 | 96,122 |
| Cash and cash equivalents at end of period | $98,557 | $76,166 |
| Supplemental disclosure of cash flow information | ||
| Cash (received) paid for income taxes, net | $(117) | $159 |
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