$LQDT
LIQUIDITY SERVICES INC

2023 Q3 Form 10-Q Financial Statement

#000095017023037808 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $79.96M $80.77M
YoY Change 6.32% 15.61%
Cost Of Revenue $34.98M $35.20M
YoY Change 3.67% 21.67%
Gross Profit $44.98M $45.57M
YoY Change 8.49% 11.32%
Gross Profit Margin 56.25% 56.42%
Selling, General & Admin $34.22M $34.45M
YoY Change 8.4% 99.25%
% of Gross Profit 76.08% 75.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.825M $2.866M
YoY Change 1.77% 8.52%
% of Gross Profit 6.28% 6.29%
Operating Expenses $37.03M $37.31M
YoY Change 7.82% 10.6%
Operating Profit $7.948M $8.255M
YoY Change 11.72% -55.84%
Interest Expense $1.175M $775.0K
YoY Change -74.87% -93.2%
% of Operating Profit 14.78% 9.39%
Other Income/Expense, Net -$1.000K
YoY Change
Pretax Income $9.053M $9.030M
YoY Change -20.73% -51.43%
Income Tax $2.774M $2.543M
% Of Pretax Income 30.64% 28.16%
Net Earnings $6.280M $6.487M
YoY Change -24.75% -60.46%
Net Earnings / Revenue 7.85% 8.03%
Basic Earnings Per Share $0.21
Diluted Earnings Per Share $0.20 $0.21
COMMON SHARES
Basic Shares Outstanding 30.69M 30.68M
Diluted Shares Outstanding 31.51M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.2M $105.9M
YoY Change 20.66% 19.91%
Cash & Equivalents $110.3M $98.15M
Short-Term Investments $7.891M $7.715M
Other Short-Term Assets $8.232M $9.042M
YoY Change 8.57% 4.27%
Inventory $11.12M $12.54M
Prepaid Expenses
Receivables $7.848M $7.457M
Other Receivables $0.00 $0.00
Total Short-Term Assets $146.3M $134.9M
YoY Change 12.87% 12.1%
LONG-TERM ASSETS
Property, Plant & Equipment $17.16M $27.88M
YoY Change -10.15% 46.52%
Goodwill $89.39M $89.62M
YoY Change 0.54% 0.41%
Intangibles $12.46M $13.30M
YoY Change -23.27% -22.85%
Long-Term Investments
YoY Change
Other Assets $6.762M $17.34M
YoY Change -9.08% 195.23%
Total Long-Term Assets $142.7M $148.1M
YoY Change -9.97% -8.83%
TOTAL ASSETS
Total Short-Term Assets $146.3M $134.9M
Total Long-Term Assets $142.7M $148.1M
Total Assets $289.0M $283.0M
YoY Change 0.3% 0.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.12M $90.68M
YoY Change -6.83% 92.09%
Accrued Expenses $27.91M $24.82M
YoY Change 0.24% -15.71%
Deferred Revenue $4.700M $4.700M
YoY Change 5.88% -4.47%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $120.7M $120.2M
YoY Change -2.26% -5.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $137.0K $6.843M
YoY Change -63.76% 1552.9%
Total Long-Term Liabilities $137.0K $6.843M
YoY Change -63.76% 1552.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $120.7M $120.2M
Total Long-Term Liabilities $137.0K $6.843M
Total Liabilities $127.4M $127.2M
YoY Change -4.59% -7.91%
SHAREHOLDERS EQUITY
Retained Earnings -$9.958M -$16.24M
YoY Change -67.81% -58.66%
Common Stock $266.0M $264.2M
YoY Change 2.97% 2.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $84.03M $84.03M
YoY Change 34.33% 35.14%
Treasury Stock Shares
Shareholders Equity $161.5M $155.8M
YoY Change
Total Liabilities & Shareholders Equity $289.0M $283.0M
YoY Change 0.3% 0.08%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $6.280M $6.487M
YoY Change -24.75% -60.46%
Depreciation, Depletion And Amortization $2.825M $2.866M
YoY Change 1.77% 8.52%
Cash From Operating Activities $14.66M $10.02M
YoY Change 7.01% -39.3%
INVESTING ACTIVITIES
Capital Expenditures $1.476M $1.194M
YoY Change -181.55% -143.72%
Acquisitions
YoY Change
Other Investing Activities -$496.0K -$1.900M
YoY Change -73.06% -7700.0%
Cash From Investing Activities -$1.982M -$3.094M
YoY Change -45.71% 14.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -225.0K -4.584M
YoY Change -75.78% -49.43%
NET CHANGE
Cash From Operating Activities 14.66M 10.02M
Cash From Investing Activities -1.982M -3.094M
Cash From Financing Activities -225.0K -4.584M
Net Change In Cash 12.45M 2.343M
YoY Change 36.56% -50.56%
FREE CASH FLOW
Cash From Operating Activities $14.66M $10.02M
Capital Expenditures $1.476M $1.194M
Free Cash Flow $13.18M $8.827M
YoY Change -15.0% -54.12%

Facts In Submission

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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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StockholdersEquity
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CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
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StockIssuedDuringPeriodValueShareBasedCompensation
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CY2022Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2022Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentAndOtherNetOfTaxPortionAttributableToParent
1273000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1939000
CY2023Q1 lqdt Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment And Other Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentAndOtherNetOfTaxPortionAttributableToParent
243000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2195000
CY2023Q2 lqdt Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment And Other Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentAndOtherNetOfTaxPortionAttributableToParent
645000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Inventory Write Down
InventoryWriteDown
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us-gaap Inventory Write Down
InventoryWriteDown
98000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
68000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4556000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3410000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
31000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
60000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
29000
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
240000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-20000000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5209000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2215000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1636000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1985000
lqdt Increase Decrease In Prepaid Expenses And Deferred Taxes
IncreaseDecreaseInPrepaidExpensesAndDeferredTaxes
135000
lqdt Increase Decrease In Prepaid Expenses And Deferred Taxes
IncreaseDecreaseInPrepaidExpensesAndDeferredTaxes
-224000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2117000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2788000
lqdt Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
207000
lqdt Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
-451000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2496000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6635000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2762000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-5955000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
261000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
296000
lqdt Increase Decrease In Payables To Sellers
IncreaseDecreaseInPayablesToSellers
-3653000
lqdt Increase Decrease In Payables To Sellers
IncreaseDecreaseInPayablesToSellers
8233000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-128000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-778000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32356000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31137000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11164000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3905000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6292000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5603000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-58000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-23000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9450000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17433000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21198000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25447000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1060000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1901000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
75000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
75000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
91000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
496000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
3500000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21837000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-31014000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
956000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-739000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2025000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18049000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96122000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
106335000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
98147000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88286000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
975000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
592000
lqdt Common Stock Surrendered In The Exercise Of Stock Options
CommonStockSurrenderedInTheExerciseOfStockOptions
191000
lqdt Common Stock Surrendered In The Exercise Of Stock Options
CommonStockSurrenderedInTheExerciseOfStockOptions
100000
lqdt Earnout Liability For Acquisition Activity
EarnoutLiabilityForAcquisitionActivity
0
lqdt Earnout Liability For Acquisition Activity
EarnoutLiabilityForAcquisitionActivity
4500000
us-gaap Nature Of Operations
NatureOfOperations
<div style="text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:3.065%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:9.0pt;font-family:Arial;justify-content:flex-start;min-width:3.065%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Organization</span></div></div><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Liquidity Services, Inc. (Liquidity Services or the Company) is a leading global commerce company providing trusted marketplace platforms that power the circular economy. We create a better future for organizations, individuals, and the planet by capturing and unleashing the intrinsic value of surplus. We connect millions of buyers and thousands of sellers through our leading auction marketplaces, search engines, asset management software, and related services. Our comprehensive solutions enable the transparent, efficient, sustainable recovery of value from excess items owned by business and government sellers.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Our business delivers value to shareholders by unleashing the intrinsic value of surplus through our marketplace platforms. These platforms ignite and enable a self-reinforcing cycle of value creation where buyers and sellers attract one another in growing numbers. The result of this cycle is a continuous flow of goods that becomes increasingly valuable as more participants join the platforms, thereby creating positive network effects that benefit sellers, buyers, and shareholders.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Results from our operations are organized into </span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">four</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG) and Machinio. See Note 14 - </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Segment Information </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">for more information regarding our segments.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Liquidity Services was incorporated in Delaware in November 1999 as Liquidation.com, Inc. and commenced operations in early 2000.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company's operations are subject to certain risks and uncertainties, many of which are associated with technology-oriented companies, including, but not limited to, the Company's dependence on use of the Internet; the effect of general business and economic trends including any future economic impact from the ongoing Russia-Ukraine conflict, increasing tensions between the United States and China, inflationary pressures, recent volatility in the financial services industry, and impacts from interest rate changes; the Company's susceptibility to rapid technological change, actual and potential competition by entities with greater financial and other resources, and the potential for the commercial sellers from which the Company derives a significant portion of its inventory to change the way they conduct their disposition of surplus assets or to otherwise terminate or not renew their contracts with the Company.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1813106
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts in the condensed consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">, these estimates required the Company to make assumptions about the impact of the ongoing Russia-Ukraine conflict, increasing tensions between the United States and China, and other disruptions to macroeconomic conditions and, in turn, the Company's results of operations. The Company will continue to update its assumptions as conditions change. Actual results could differ significantly from those estimates.</span></p>
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1200000
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
900000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4700000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4400000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
300000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
900000
CY2022Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
300000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
800000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Risk Associated with Certain Concentrations</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">For the majority of buyers that receive goods before payment to the Company is made, credit evaluations are performed. However, for the remaining buyers, goods are not shipped before payment is made, and as a result the Company is not subject to significant collection risk from those buyers.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf. The funds are included in Cash and cash equivalents on the Condensed Consolidated Balance Sheets. The Company releases the funds to the seller, less the Company's commission and other fees due, through Accounts payable after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash in banks within non-interest bearing, interest-bearing, and earnings allowance checking accounts, as well as cash equivalent money market funds, all of which exceed the applicable U.S. federal (FDIC and/or SIPC) and local jurisdiction (foreign banking institutions) insurance limits, and Accounts receivable. The recent disruptions in the financial services industry have created significant market challenges and uncertainty for entities that bank with those institutions, and which raised significant concern regarding the stability of the banking system in the United States. The Company did not maintain any funds or lending relationships with any of the banks impacted and the banks we do maintain accounts and relationships with have, to date, not experienced any significant disruptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company deposits its cash in interest bearing checking accounts, acquires cash equivalent money market funds, and holds short-term investments designated as held-to-maturity investment securities, each with financial institutions that the Company considers to be of high credit quality. Management continually monitors the financial institutions with whom we conduct business and responds appropriately, when necessary, to manage potential risk exposure to our cash balances above the insurance limits.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">We have multiple vendor contracts with Amazon.com, Inc. under which we acquire and sell commercial merchandise. While purchase model transactions account for less than </span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">20</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">% of our total GMV, the cost of inventory for purchase model transactions is the most significant component of our consolidated Costs of goods sold. $</span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">6.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> million and $</span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">8.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> million of inventory purchased under such contracts with Amazon.com, Inc. are included in our Consolidated Inventory balances as of June 30, 2023, and September 30, 2022, respectively. Our vendor contracts with respect to sourcing or consigning merchandise for our RSCG segment generally reflect the concentration dynamics inherent to the retail industry.</span></p>
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
18591000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
19963000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
36233000

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