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LIQUIDITY SERVICES A Better Future for Surplus Investor Presentation Third Quarter Fiscal Year 2026 LIQUIDITY SERVICES Liquidity Services , Inc. All Rights Reserved .
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© Liquidity Services, Inc. All Rights Reserved. 2 Forward-Looking Information This document contains forward-looking statements. These statements are only predictions. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include but are not limited to the factors set forth in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025, and subsequent filings with the Securities and Exchange Commission (SEC). You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continues” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. There may be other factors of which we are currently unaware or deem immaterial that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this document and are expressly qualified in their entirety by the cautionary statements included in this document. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances occurring after the date of this document or to reflect the occurrence of unanticipated events. To supplement our consolidated financial statements presented in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP measures of certain components of financial performance. These non-GAAP measures include earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA, Adjusted Net Income (Loss), and Adjusted Earnings (Loss) per Share. These non-GAAP measures are provided to enhance investors’ overall understanding of our current financial performance and prospects for the future. We use EBITDA and Adjusted EBITDA: (a) as measurements of operating performance because they assist us in comparing our operating performance on a consistent basis as they do not reflect the impact of items not directly resulting from our core operations; (b) for planning purposes, including the preparation of our internal annual operating budget; (c) to allocate resources to enhance the financial performance of our business; (d) to evaluate the effectiveness of our operational strategies; and (e) to evaluate our capacity to fund capital expenditures and expand our business. We believe these non-GAAP measures provide useful information to both management and investors by excluding certain expenses that may not be indicative of our core operating measures. In addition, because we have historically reported certain non-GAAP measures to investors, we believe the inclusion of non-GAAP measures provides consistency in our financial reporting. These measures should be considered in addition to financial information prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.A reconciliation of all non-GAAP measures included in this presentation to the most directly comparable GAAP measures is included in this presentation. The following discussion should be read in conjunction with our condensed consolidated financial statements and related notes and the information contained in our Quarterly Report on Form 10-Q as of and for the three and nine months ended June 30, 2026.
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© Liquidity Services, Inc. All Rights Reserved. 3 © Liquidity Services, Inc. All Rights Reserved. 3 Who We Are Liquidity Services is the leading global provider of e-commerce marketplaces and software solutions powering the circular economy. To Power the Circular Economy, we: • Sell, manage, and value surplus assets across the globe in a broad range of categories and conditions • Maximize value recovery with the broadest buyer base through our efficient global marketplace platform • Optimize and execute surplus management strategies to achieve client business goals
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© Liquidity Services, Inc. All Rights Reserved. 4 What is the Circular Economy? Definition: “The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.”* *European Parliament Liquidity Services is a first mover and global leader in transforming the Circular Economy, which provides long-term investors the opportunity to drive financial returns while making a positive impact on the environment.
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© Liquidity Services, Inc. All Rights Reserved. 5 © Liquidity Services, Inc. All Rights Reserved. 5 The Industry Leader in the Circular Economy 15,000+ Trusted Clients Worldwide 1 Million+ Transactions Completed Annually in 100+ Countries 6.4 Million+ Registered Buyers $15 Billion+ Completed Transactions 130+ Fortune 1000 Global Clients 900+ Asset Categories Experience B2B | B2C Multichannel Marketing & Sales Strategies LQDT▲ Publicly Traded Since 2006 IPO
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© Liquidity Services, Inc. All Rights Reserved. 6 © Liquidity Services, Inc. All Rights Reserved. 6 Our Purpose Grow the world’s leading marketplace for surplus assets to benefit sellers, buyers and the planet Our Sellers. For enterprises managing used, idle, or excess assets and inventory we provide: • Expertise and intelligence that achieve high-performance results aligned to strategic goals • Scalable, end-to-end solutions • Superior people, processes, and systems to maximize return The Planet. For the planet’s natural resources, environment, and beauty we: • Extend life of assets and inventory and increase reuse and recycling • Prevent unnecessary waste and reduce the number of products headed to landfills • Dispose of surplus in an environmentally safe manner Our Buyers. For organizations and consumers pursuing business or personal goals we offer: • Convenient access to a broad range of assets • Accurate, comprehensive product information and fair market prices • Helpful, responsive customer support when it is needed
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© Liquidity Services, Inc. All Rights Reserved. 7 Recovery Maximization Drive higher net recovery through technology and innovation that improves the buyer experience Increased Volume Grow annualized volume transacted on our platform with flexible service offerings and pricing models to meet the needs of existing and new sellers Service Expansion Grow services with recurring revenue characteristics that leverage our domain expertise, data and marketplace channels Expense Leverage Improve operating expense leverage by controlling costs and through technology and innovation that increases productivity R I S E Vision and Strategic Pillars Liquidity Services operates the world’s leading marketplace for surplus assets to benefit sellers, buyers and the planet.
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© Liquidity Services, Inc. All Rights Reserved. 8 © Liquidity Services, Inc. All Rights Reserved. 8 Delivering Maximum Value to Sellers Better Service Superior levels of industry and asset expertise, responsiveness, intelligence, and analytics that achieve high-performance results aligned to our sellers’ goals. Better Results Right combination of great people, best-in-class processes, and cutting- edge systems to deliver maximum return today and into the future. Better Scale Comprehensive, modular, and scalable solutions spanning all volumes, asset categories, conditions, sales channels, and locations worldwide. Aviation & Ground Support Equipment Semiconductor & Electronic Manufacturing Industrial Manufacturing Automotive Manufacturing Energy Heavy Equipment Construction BiopharmaFast Moving Consumer Goods RetailReal EstateLocal Government Fleet & Vehicle Management Serving the Broadest Base of Industries State & Federal Government
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© Liquidity Services, Inc. All Rights Reserved. 9 © Liquidity Services, Inc. All Rights Reserved. 9 Providing Superior Buyer Experiences Fair Prices Auction format ensures assets are sold for fair market value; assets available all over the world, making it easy to keep shipping costs low or pick up items Excellent Customer Service Support every aspect of the buyer experience. Rated A+ provider by the Better Business Bureau Superior Product Quality and Information Large volumes and recurring flows of products; refurbishment services to enhance and ensure product quality; ability to view detailed product information, ask questions, and inspect items
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© Liquidity Services, Inc. All Rights Reserved. 10 © Liquidity Services, Inc. All Rights Reserved. 10 Sustainability and Corporate Citizenship Sustainability Our Services Enable the Circular Economy We empower corporations and governments to use our e-commerce services to resell their surplus assets, which, in turn, enables a more sustainable and circular economy. Economic Opportunity We Empower Small Business Entrepreneurs We empower small business entrepreneurs by enabling their access to a global supply of finished merchandise and capital assets, which, in turn, allows them to build and grow their businesses and contribute to the prosperity of their local communities. Governance Trust Grows our Marketplaces Creating trust is fundamental to the long-term growth and success of our marketplaces. Accordingly, we continuously execute and improve our services following our core values of: Integrity; Mutual Trust and Accountability; and Doing Well and Doing Good.
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© Liquidity Services, Inc. All Rights Reserved. 11 $130+ Billion Total Addressable Market Market Opportunity* Highlighted Sellers Across Industries *Data from evaluation of research from Appriss Retail (2018), Manfredi & Associates (2015), ACT Research (2016), and company data. Retailers & OEMs U.S Public Sector (includes Real Estate) Energy Industrial Capital Assets Transportation $50 Billion$48 Billion $20 Billion $10+ Billion $8 Billion
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© Liquidity Services, Inc. All Rights Reserved. 12 © Liquidity Services, Inc. All Rights Reserved. 12 Macro-Trends Expanding Our Opportunity E-Commerce Growth Technology Innovation Sustainability • Increased demand for digital solutions driving more opportunities with sellers and buyers • Continued online growth in retail driving increased volume of consumer returns • Trending appetite for self-directed solutions • Increasing buyer demand for discounted, refurbished and secondary market assets • Environmental Sustainability key goal for commercial and government sellers • Product obsolescence and shorter product life cycles • Greater focus on compliance and transparency • Higher adoption of digital marketplaces among B2B buyers • Increasing need for faster disposition cycle • Focus on zero waste • Environmental compliance requires sophisticated tools and reporting • Extending the useful life of assets of increasing importance
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© Liquidity Services, Inc. All Rights Reserved. 13 © Liquidity Services, Inc. All Rights Reserved. 13 Our Business Model Compelling Model ✓ Online, self-service solutions ✓ Diversified products, services, and customer mix globally ✓ High-volume recurring revenue ✓ Value-added managed services ✓ Flexible global buyer payment solutions ✓ Additional services beyond selling assets to create higher-margin revenue streams ✓ Network effect drives recovery maximization for sellers and increasing flow of asset supply for buyers ✓ High operating leverage on future growth Multiple, Synergistic Revenue Streams ✓ Consignment Model ✓ Purchase Model ✓ Service Revenue ✓ Subscription Revenues
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© Liquidity Services, Inc. All Rights Reserved. 14 Liquidity Services Marketplace Success Q3-26 total marketplace growth over the prior year included(1) • Managed D2C GMV increased 71% YoY • Record 5,548 unique sellers in GovDeals, up 5% YoY • +17% Completed Transactions • +9% Buyer Registrations • Eclipsed 6.4 million Registered Buyers (1) Q3-FY26 growth over prior year comparable quarter. (2) Includes the AllSurplus Deals direct-to-consumer RSCG sales channel and GovDeals/CAG transactions where the winning bid was placed by a buyer on the AllSurplus marketplace. Marketplace Q3-FY26 Marketplace Highlights(1) AllSurplus(2) • +12% Buyer Registrations • 34% YoY GMV Growth in the Industrial category GovDeals (incl. Bid4Assets and Sierra) • +21% New Buyer Registrations • +9% Auction Participants • +7% Completed Transactions Liquidation.com • +30% YoY RSCG Segment Direct Profit growth • +3% Buyer Registration
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© Liquidity Services, Inc. All Rights Reserved. 15 © Liquidity Services, Inc. All Rights Reserved. 15 GovDeals Segment Government agencies continue to adopt our digital marketplace solutions over traditional sales methods with over $4 billion sold, transacting in a broader array of assets including vehicles, heavy equipment and real estate Expanded services continue to strengthen our position with government sellers. • Well-positioned to serve increasing demand for virtual solutions • Innovative hybrid solutions attracting new, higher-volume clients that previously relied on full-service auctioneers • AI-enabled seller tool modernization efforts continue to improve seller listing experience GovDeals self-directed model is attractive to: • Local, state and federal government entities • Higher education institutions • Non-profits, charitable organizations, credit unions, hospitals & commercial real estate resellers Marketing technology and increase in online procurement are driving more buyer demand Volatility in used car availability and market prices, and real estate foreclosure levels(1) can significantly impact GMV on the GovDeals and Bid4Assets marketplaces. (1) ATTOM (July 2026): https://www.attomdata.com/news/market-trends/foreclosures/2026-mid-year- foreclosure-market-report/ $249.7 $210.0 $212.1 $203.3 $252.3 $235.7 $226.9 $213.7 $274.0 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 GovDeals Segment GMV Trendline *in millions * Fiscal Q3 is the seasonally high quarter for this reportable segment.
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© Liquidity Services, Inc. All Rights Reserved. 16 © Liquidity Services, Inc. All Rights Reserved. 16 RSCG Segment Our flexible service offerings and the depth of our multi - channel buyer base are driving stronger relationships with new and existing sellers across categories and geographies Our RSCG segment benefits from: • Outsourcing of non-core activities to drive focus and cost savings • Flexible service offerings and an agile operating footprint that enables clients to rapidly respond to changing economic conditions Our expanded service offerings address a full spectrum of seller needs and create higher-margin revenue streams: • Managed services for end-to-end solutions • Large retailers increasing use of our sell-in-place and direct-to- consumer consignment solutions • Localized consumer channels to drive higher recovery, including our recently launched Retail Rush store powered by our Software Solutions These services have positioned us well to respond to recent macro trends: • Strong e-commerce growth drives increased volume of consumer returns, while increasing buyer demand for discounted, refurbished and secondary market assets drives growth Changes in consumer sentiment, tariffs and other trade barriers, elevated interest rates, inventory purchase levels, and supply chain variability can cause fluctuations in the value and mix of products transacted in any given period.* Fiscal Q2 is the seasonally high quarter for reverse supply chain activity in the retail sector. $78.9 $95.5 $109.8 $102.8 $102.6 $103.2 $113.5 $113.1 $121.6 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 RSCG Segment GMV Trendline *in millions
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© Liquidity Services, Inc. All Rights Reserved. 17 © Liquidity Services, Inc. All Rights Reserved. 17 Driving growth from a diversified and global client base and seeking expansion with recurring sellers in key categories such as heavy equipment, industrial, biopharma and energy AllSurplus enables delivery of self-directed and fully managed services to our sellers, including: • AI-driven recommendations and search to elevate our customer experience • Real time reporting and asset status for our sellers • Ability to bid or buy assets through multiple sales types: auctions, buy now, and offers • Complimentary lifecycle management tools for recurring sellers drive engagement and auction conversions Clients continue to pursue CAG's solutions for: • Greater need to recover investment on idle assets • Increasing buyer demand for assets at less than new pricing Continued execution through ongoing global supply chain disruptions: • Global supply chains may experience heightened uncertainty from inflationary pressures including economic and tariff-related uncertainty, elevated interest rates, disruption of global energy supplies, and ongoing geopolitical conflicts. CAG GMV can be variable based on timing and project size CAG Segment $51.8 $55.4 $64.2 $61.2 $58.2 $65.5 $57.6 $63.1 $57.5 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 CAG Segment GMV Trendline *in millions
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© Liquidity Services, Inc. All Rights Reserved. 18 © Liquidity Services, Inc. All Rights Reserved. 18 Machinio & Software Solutions Expanding recurring subscription -based revenue streams supporting the circular economy, including Machinio Advertising, Machinio System and Auction.io. Machinio • A leading online, subscription -based classifieds and storefront marketplace for used Machinery and Heavy Equipment • The Machinio worldwide search engine for used equipment aggregates over 4.0 million active listings • Machinio Advertising’s worldwide classifieds platform has over 4,100 subscribers from 100+ countries, more than 1 million qualified leads annually, and over 1 million email alert subscribers • Machinio System is expanding its capabilities and target market to Marine/RV dealers, as well as adding features to drive service lead capture,quoting , and work order management. • Machinio System’s vendor management software has over 970 subscribers • Strong Net Renewal Rates Software Solutions • Separately serves as the Company's private -label and software - as-a-service (SaaS) arm, offering scalable auction platform services to entrepreneurs and businesses, including Retail Rush. • Formed following the acquisition of Auction Software in Q2 FY25. $4.1 $4.2 $4.3 $4.9 $5.2 $5.4 $5.5 $5.4 $5.4 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Machinio Segment Revenue Trendline *in millions
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© Liquidity Services, Inc. All Rights Reserved. 19 © Liquidity Services, Inc. All Rights Reserved. 19 Financial Results
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© Liquidity Services, Inc. All Rights Reserved. 20 Consolidated Results – Gross Merchandise Volume (GMV) $ in millions 1,145 1,203 1,367 1,571 FY22 FY23 FY24 FY25 12 Months Ended 9/30 Annual GMV FY22 to FY25 Trend 413 453 FY25 FY26 3 Months Ended 6/30 Q3 QTD FY25 to FY26 1,166 1,241 FY25 FY26 9 Months Ended 6/30 Q3 YTD FY25 to FY26
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© Liquidity Services, Inc. All Rights Reserved. 21 Consolidated Results – Revenue $ in millions 280 314 363 477 FY22 FY23 FY24 FY25 12 Months Ended 9/30 Annual Revenue FY22 to FY25 Trend 120 130 FY25 FY263 Months Ended 6/30 Q3 QTD FY25 to FY26 359 372 FY25 FY269 Months Ended 6/30 Q3 YTD FY25 to FY26
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© Liquidity Services, Inc. All Rights Reserved. 22 Consolidated Results – Non-GAAP Adjusted EBITDA(1) $ in millions 42.7 45.9 48.5 60.8 FY22 FY23 FY24 FY25 12 Months Ended 9/30 Annual Non-GAAP Adjusted EBITDA FY22 to FY25 Trend 17.0 22.0 FY25 FY26 3 Months Ended 6/30 Q3 QTD FY25 to FY26 42.3 56.8 FY25 FY26 9 Months Ended 6/30 Q3 YTD FY25 to FY26 (1) For the tw elve months ended September 30, 2025,2024, 2023, and 2022, Net Income w as $28.1M, $20.0M, $21.0M, and $40.3M, respectively. For the three months ended June 30, 2026 and 2025, net income w as $7.5M and $7.1M, respectively. See Slide #25 for a reconciliation of Adjusted EBITDA For the nine months ended June 30, 2026 and 2025, net income w as $25.4M and $20.3M, respectively.
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© Liquidity Services, Inc. All Rights Reserved. 23 © Liquidity Services, Inc. All Rights Reserved. 23 Diversification By Pricing Model | GMV Mix Purchase 17% Consignment 87% Consignment 83% Purchase 13% Purchase 18% Consignment 82% Q3FY25 Purchase Consignment Self-Directed Consignment Purchase 17% Consignment 83% Q3FY26 Purchase Consignment Self-Directed Consignment
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© Liquidity Services, Inc. All Rights Reserved. 24 © Liquidity Services, Inc. All Rights Reserved. 24 Diversification By Segment | GMV Mix RSCG 25% CAG 14% GovDeals 61% Q3FY25 RSCG 27% CAG 13% GovDeals 60% Q3FY26
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© Liquidity Services, Inc. All Rights Reserved. 25 Reconciliation of Financial Data (in thousands) Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Net Income 6,000$ 6,375$ 5,810$ 7,051$ 7,410$ 7,822$ 7,489$ 7,522$ 10,426$ Interest & other income, net (891) (1,244) (1,151) (951) (1,128) (1,344) (1,196) (1,103) (1,411) Provision for income taxes 2,702 2,198 2,380 655 3,885 4,428 3,028 3,150 5,072 Depreciation and amortization 3,198 2,823 2,516 2,568 2,658 2,667 2,583 2,640 2,683 Non-GAAP EBITDA 11,010$ 10,151$ 9,554$ 9,323$ 12,825$ 13,574$ 11,903$ 12,209$ 16,770$ Stock compensation expense 2,617 3,879 3,431 2,578 3,512 4,968 6,174 4,350 5,272 Acquisition costs and litigation settlement expense 1,080 173 68 167 508 - - 112 4 Business realignment expenses - 251 55 104 159 (12) - - - Fair value adjustments to acquisition earn-outs - - - - - - - - - Non-GAAP Adjusted EBITDA 14,706$ 14,454$ 13,109$ 12,172$ 17,005$ 18,530$ 18,077$ 16,670$ 22,046$ Adjusted EBITDA Reconciliation (QTD)
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© Liquidity Services, Inc. All Rights Reserved. 26 Investor Relations investorrelations@liquidityservicesinc.com