Liquidity Services Q1 Earnings Call: GMV and Profit Growth Despite Flat Revenue

Liquidity Services reported Q1 FY26 results with 3% YoY GMV growth, a 1% decline in revenue, and a 29% increase in GAAP net income. GovDeals delivered 7% GMV growth, while Retail (RSCG) posted 3% GMV growth and a 16% increase in direct profit. The company ended the quarter with $181.4 million in cash and no debt, with $15 million remaining on its share repurchase authorization.