Liquidity Services, Inc
(NASDAQ:LQDT)

Liquidity Services, Inc. provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; govdeals.com provides sel...

Website: http://www.liquidityservices.com

Founded: 1999

Full Time Employees: 574

CEO: Bill Angrick

Sector: Consumer Cyclical

Industry: Internet Retail

Specialty Retail

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At a glance:

Bull Thesis:

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-06-30	2016-03-31	2015-12-31	2015-06-30	2015-03-31	2014-12-31	2014-06-30	2014-03-31	2013-12-31	2013-06-30	2013-03-31	2012-12-31	2012-06-30	2012-03-31	2011-12-31	2011-06-30	2011-03-31	2010-12-31	2010-06-30	2010-03-31	2009-12-31	2009-06-30	2009-03-31	2008-12-31	2008-06-30	2008-03-31	2007-12-31	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31

purchase revenues	77,852,000	77,352,000	73,379,000	76,517,000	77,827,000	82,815,000	67,074,000	53,396,000	53,105,000	36,225,000	43,374,000	42,809,000	47,273,000	38,634,000	42,162,000	35,507,000
consignment and other fee revenues	42,880,000	43,867,000	44,709,000	43,358,000	38,548,000	39,516,000	39,853,000	40,217,000	38,348,000	35,100,000	36,583,000	37,961,000	34,180,000	33,648,000	33,040,000	34,359,000
total revenue	120,732,000	121,219,000	118,088,000	119,875,000	116,375,000	122,331,000	106,927,000	93,613,000	91,453,000	71,325,000	79,957,000	80,770,000	81,453,000	72,282,000			68,275,000	66,707,000	70,327,000	69,666,000	61,786,000	55,751,000	55,890,000	47,722,000	52,824,000	49,504,000	41,933,750	56,882,000	56,800,000	54,053,000	42,952,250	50,569,000	60,097,000	61,143,000	61,365,000	65,520,000	72,335,000	70,796,000	85,188,000	86,878,000	65,875,000	89,746,000	102,943,000	125,143,000	126,965,000	128,329,000	121,948,000	124,199,000	130,324,000	122,205,000
yoy	3.74%	-0.91%	10.44%	28.05%	27.25%	71.51%	33.73%	15.90%	12.28%	-1.32%			19.30%	8.36%			10.50%	19.65%	25.83%	45.98%	16.97%	12.62%	33.28%	-16.10%	-7.00%	-8.42%	-2.37%	12.48%	-5.49%	-11.60%	-30.01%	-22.82%	-16.92%	-13.63%	-27.97%	-24.58%	9.81%	-21.12%	-17.25%	-30.58%	-48.12%	-30.07%	-15.58%	0.76%	-2.58%	5.01%
qoq	-0.40%	2.65%	-1.49%	3.01%	-4.87%	14.41%	14.22%	2.36%	28.22%	-10.80%	-1.01%	-0.84%	12.69%				2.35%	-5.15%	0.95%	12.75%	10.82%	-0.25%	17.12%	-9.66%	6.71%	18.05%	-26.28%	0.14%	5.08%	25.84%	-15.06%	-15.85%	-1.71%	-0.36%	-6.34%	-9.42%	2.17%	-16.89%	-1.95%	31.88%	-26.60%	-12.82%	-17.74%	-1.44%	-1.06%	5.23%	-1.81%	-4.70%	6.64%
costs and expenses from operations:
cost of goods sold	64,862,000	64,186,000	61,634,000	65,110,000	68,946,000	72,164,000	58,192,000	44,212,000	44,222,000	31,526,000	34,982,000	35,201,000	40,366,000	31,773,000	33,745,000	28,932,000	28,968,000	27,762,000	30,177,000	28,543,000	26,385,000	22,573,000	22,727,000	22,494,000	26,619,000	24,176,000	27,314,000	25,337,000	24,807,000	24,956,000	24,240,000	19,489,000	28,727,000	27,631,000	28,979,000	30,413,000	34,564,000	32,271,000	39,292,000	39,927,000	26,883,000	35,838,000	42,661,000	54,315,000	54,537,000	54,273,000	47,710,000	49,977,000	49,946,000	47,122,000	49,187,000	55,024,000	43,285,000	34,572,000	40,717,000	32,939,000	30,378,000	33,358,000	26,950,000	20,688,000	22,703,000	18,589,000	19,552,000	16,162,000	15,403,000	13,441,000	11,698,000	8,462,000	3,755,000	3,442,000	2,595,000
technology and operations	18,320,000	18,296,000	16,977,000	17,275,000	16,883,000	17,407,000	16,241,000	15,372,000	15,526,000	14,238,000	13,655,000	13,927,000	14,791,000	14,704,000	13,949,000	13,782,000	13,872,000	13,918,000	12,721,000	12,307,000	12,085,000	10,573,000	9,816,000	9,515,000	11,586,000	11,241,000	13,496,000	12,145,000	13,429,000	12,524,000	13,068,000	13,663,000	15,955,000	18,100,000	20,381,000	19,639,000	21,075,000	21,892,000	22,541,000	24,678,000	22,807,000	24,784,000	24,747,000	26,878,000	27,420,000	29,070,000	25,621,000	21,851,000	22,407,000	22,547,000	15,943,000	15,802,000	15,783,000	13,569,000	14,363,000	13,324,000	11,982,000	12,156,000	12,086,000	11,413,000	11,678,000	11,927,000	10,411,000	10,300,000	9,977,000	8,125,000	8,397,000	7,843,000	5,966,000	5,321,000	4,739,000
sales and marketing	16,114,000	17,018,000	16,686,000	15,694,000	13,810,000	14,774,000	13,898,000	13,759,000	14,195,000	12,980,000	13,731,000	13,068,000	11,854,000	10,790,000	11,007,000	10,900,000	11,273,000	10,044,000	9,956,000	9,661,000	8,910,000	9,108,000	8,503,000	7,412,000	10,109,000	9,605,000	9,816,000	8,771,000	9,135,000	8,981,000	8,782,000	8,386,000	8,225,000	8,310,000	7,801,000	8,273,000	9,149,000	9,987,000	9,967,000	9,148,000	9,460,000	10,255,000	10,798,000	10,385,000	10,661,000	10,459,000	9,831,000	10,127,000	9,973,000	10,328,000	7,364,000	6,909,000	6,535,000	5,789,000	6,180,000	6,015,000	5,221,000	5,011,000	4,647,000	4,398,000	4,474,000	4,432,000	4,469,000	3,917,000	4,133,000	3,556,000	3,225,000	2,964,000	2,535,000	2,411,000	2,100,000
general and administrative	9,072,000	9,765,000	9,178,000	8,221,000	7,108,000	8,267,000	8,116,000	8,603,000	7,658,000	7,585,000	6,831,000	7,454,000	6,404,000	7,385,000	6,610,000	6,389,000	7,053,000	8,230,000	7,360,000	7,676,000	6,892,000	6,996,000	7,845,000	6,217,000	7,397,000	7,707,000	8,032,000	8,959,000	8,624,000	8,634,000	8,367,000	6,763,000	7,456,000	7,572,000	8,999,000	8,751,000	8,230,000	9,857,000	9,042,000	10,466,000	10,068,000	10,476,000	11,374,000	9,528,000	11,793,000	12,435,000	12,307,000	10,096,000	11,839,000	13,968,000	8,639,000	8,215,000	7,817,000	6,912,000	7,148,000	6,737,000	6,148,000	6,475,000	5,940,000	6,158,000	5,131,000	5,745,000	5,827,000	5,275,000	4,839,000	4,704,000	4,049,000	3,436,000	2,920,000	3,343,000	3,177,000
depreciation and amortization	2,640,000	2,583,000	2,668,000	2,657,000	2,568,000	2,516,000	2,823,000	3,199,000	3,195,000	2,904,000	2,822,000	2,866,000	2,803,000	2,764,000	2,776,000	2,641,000	2,603,000	2,302,000	1,723,000	1,705,000	1,670,000	1,871,000	1,574,000	1,567,000	1,577,000	1,572,000	1,516,000	1,206,000	1,165,000	1,204,000	1,224,000	1,020,000	1,144,000	1,211,000	1,568,000	1,365,000	1,434,000	1,429,000	1,616,000	1,660,000	1,672,000	2,044,000	1,994,000	1,992,000	1,927,000	1,973,000	2,004,000	1,984,000	1,980,000	1,987,000	1,477,000	1,505,000	1,526,000	1,391,000	1,351,000	1,190,000	1,058,000	970,000	911,000	828,000	678,000	639,000	584,000	465,000	388,000	355,000	309,000	273,000	226,000	179,000	170,000
other operating expenses	104,000		-13,000	700,000	257,000	116,000				445,000	58,000	-1,000	-11,000		370,000	27,000	23,000	-32,000	-1,384,000	1,180,000	206,000	4,000	73,000	319,000	-12,000	193,000	1,463,000	2,031,000	1,350,000	205,000	-830,000	452,000	311,000	1,459,000
total costs and expenses	111,112,000	111,848,000	107,130,000	109,657,000	109,572,000	115,244,000	99,661,000	85,718,000	84,858,000	69,678,000	72,079,000	72,515,000	76,207,000	67,555,000	63,957,000	51,171,000	55,292,000	62,224,000	62,017,000	61,072,000	56,148,000	51,125,000	50,543,000	47,524,000	57,276,000	54,494,000	64,177,000	61,443,000	61,285,000	59,128,000	58,926,000	53,709,000	65,677,000	67,595,000	76,989,000	73,630,000	79,412,000	79,984,000	85,121,000	88,385,000	73,286,000	89,752,000	99,132,000	210,139,000	98,377,000	118,866,000	110,105,000	105,330,000	108,706,000	111,948,000	95,984,000	93,871,000	89,771,000	91,670,000	81,951,000	75,724,000	65,770,000	69,241,000	59,728,000	51,782,000	56,664,000	55,874,000	65,246,000	58,952,000	55,749,000	47,793,000	45,612,000	41,910,000	36,435,000	35,433,000	33,703,000
income from operations	9,620,000	9,371,000	10,958,000	10,218,000	6,803,000	7,087,000	7,266,000	7,895,000	6,595,000	1,647,000	7,879,000	8,255,000	5,246,000	4,727,000	11,245,000	18,695,000	12,983,000	4,483,000	8,310,000	8,594,000	5,638,000	4,626,000	5,347,000	198,000	-4,452,000	-4,990,000	-5,387,000	-4,561,000	-4,485,000	-5,075,000	-6,221,000	-3,140,000	-5,580,000	-6,452,000	-6,355,000	-8,762,000	-8,396,000	-8,260,000	67,000				3,811,000		28,588,000	9,463,000	11,843,000	18,869,000	21,618,000	10,257,000					10,152,000	2,787,000	6,981,000	6,541,000	5,585,000	6,263,000	3,012,000		6,227,000	3,887,000	3,517,000	4,712,000	3,669,000	3,257,000	3,320,000	3,317,000	3,398,000
yoy	41.41%	32.23%	50.81%	29.42%	3.15%	330.30%	-7.78%	-4.36%	25.71%	-65.16%	-29.93%	-55.84%	-59.59%	5.44%	35.32%	117.54%	130.28%	-3.09%	55.41%	4240.40%	-226.64%	-192.71%	-199.26%	-104.34%	-0.74%	-1.67%	-13.41%	45.25%	-19.62%	-21.34%	-2.11%	-64.16%	-33.54%	-21.89%	-9585.07%				-98.24%				-67.82%		32.24%	-7.74%									81.77%	-55.50%	131.77%		-10.31%	61.13%	-14.36%		69.72%	19.34%	5.93%	42.06%	7.98%
qoq	2.66%	-14.48%	7.24%	50.20%	-4.01%	-2.46%	-7.97%	19.71%	300.43%	-79.10%	-4.55%	57.36%	10.98%	-57.96%	-39.85%	44.00%	189.61%	-46.05%	-3.30%	52.43%	21.88%	-13.48%	2600.51%	-104.45%	-10.78%	-7.37%	18.11%	1.69%	-11.63%	-18.42%	98.12%	-43.73%	-13.52%	1.53%	-27.47%	4.36%	1.65%	-12428.36%							202.10%	-20.10%	-37.24%	-12.72%	110.76%						264.26%	-60.08%	6.73%	17.12%	-10.83%	107.93%			60.20%	10.52%	-25.36%	28.43%	12.65%	-1.90%	0.09%	-2.38%
operating margin %	7.97%	7.73%	9.28%	8.52%	5.85%	5.79%	6.80%	8.43%	7.21%	2.31%	9.85%	10.22%	6.44%	6.54%	Infinity%	Infinity%	19.02%	6.72%	11.82%	12.34%	9.13%	8.30%	9.57%	0.41%	-8.43%	-10.08%	-12.85%	-8.02%	-7.90%	-9.39%	-14.48%	-6.21%	-9.28%	-10.55%	-10.36%	-13.37%	-11.61%	-11.67%	0.08%	0%	0%	0%	3.70%	0%	22.52%	7.37%	9.71%	15.19%	16.59%	8.39%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
interest and other income	-1,052,000	-1,146,000	-1,292,000	-1,077,000	-903,000	-1,103,000	-1,305,000	-807,000	-601,000	-1,141,000			-572,000	-389,000			-46,000	-131,000	57,000	-254,000	-29,000	-185,000	-191,000	-224,000	-257,000	-252,000	-306,000	-454,000	-451,000	-319,000	-194,000	-47,000								390,000
income before provision for income taxes	10,672,000	10,517,000	12,250,000	11,295,000	7,706,000	8,190,000	8,573,000	8,702,000	7,196,000	2,788,000	9,053,000	9,030,000	5,818,000	5,116,000	9,058,250	18,591,000	13,029,000	4,614,000	4,831,500	8,848,000	5,667,000	4,811,000	5,538,000	422,000	-4,195,000	-4,738,000	-5,163,000	-4,107,000	-4,034,000	-4,756,000	-6,547,000	-3,093,000	-5,276,000	-6,027,000	-6,282,250	-8,573,000		-8,294,000					3,772,000		28,391,000	9,384,000	11,822,000	18,813,000	21,522,000	11,181,000					10,118,000	2,766,000	7,031,000	6,596,000	5,571,000	6,296,000	3,102,000	4,000	6,519,000	4,508,000	4,005,000	5,187,000	4,220,000	3,855,000	3,870,000	3,771,000	3,187,000
provision for income taxes	3,150,000	3,028,000	4,428,000	3,885,000	655,000	2,380,000	2,198,000	2,702,000	1,487,000	881,000	2,774,000	2,543,000	1,573,000	1,149,000	3,075,000	2,183,000	1,059,000	1,012,000	-24,503,000	429,000	407,000	297,000	91,000	209,000	43,000	458,000	64,000	542,000	328,000	266,000	-5,504,000	612,000	379,000	-4,815,000	-542,000	41,000		103,000									4,729,000			4,472,000
net income	7,522,000	7,489,000	7,822,000	7,410,000	7,051,000	5,810,000	6,375,000	6,000,000	5,709,000	1,907,000	6,280,000	6,487,000	4,245,000	3,967,000	8,345,000	16,408,000	11,970,000	3,602,000	32,756,000	8,419,000	5,260,000	4,514,000	5,447,000	213,000	-4,238,000	-5,196,000	-5,227,000	-4,649,000	-4,362,000	-5,022,000	-1,043,000	-3,705,000	-5,655,000	-1,212,000	-13,967,000	-8,614,000	-8,252,000	-8,397,000	-124,000	-850,000	-5,197,000	1,615,000	1,381,000	-64,116,000	18,373,000	5,631,000	7,093,000	11,288,000	12,698,000	6,709,000	14,863,000	18,762,000	9,126,000	-1,057,000	5,059,000	1,383,000	2,990,000	3,577,000	2,940,000	3,400,000	1,675,000	2,000	3,847,000	2,646,000	2,363,000	3,053,000	2,474,000	2,313,000	2,230,000	2,355,000	1,928,000
yoy	6.68%	28.90%	22.70%	23.50%	23.51%	204.67%	1.51%	-7.51%	34.49%	-51.93%	-24.75%	-60.46%	-64.54%	10.13%	-74.52%	94.89%	127.57%	-20.20%	501.36%	3852.58%	-224.12%	-186.87%	-204.21%	-104.58%	-2.84%	3.46%	401.15%	25.48%	-22.86%	314.36%	-92.53%	-56.99%	-31.47%	-85.57%	11163.71%	913.41%	58.78%	-619.94%	-108.98%	-98.67%	-128.29%	-71.32%	-80.53%	-668.00%	44.69%	-16.07%	-52.28%	-39.84%	39.14%	-734.72%	193.79%	1256.62%	205.22%	-129.55%	72.07%	-59.32%	78.51%	178750.00%	-23.58%	28.50%	-29.12%	-99.93%	55.50%	14.40%	5.96%	29.64%	28.32%
qoq	0.44%	-4.26%	5.56%	5.09%	21.36%	-8.86%	6.25%	5.10%	199.37%	-69.63%	-3.19%	52.82%	7.01%	-52.46%	-49.14%	37.08%	232.32%	-89.00%	289.07%	60.06%	16.53%	-17.13%	2457.28%	-105.03%	-18.44%	-0.59%	12.43%	6.58%	-13.14%	381.50%	-71.85%	-34.48%	366.58%	-91.32%	62.14%	4.39%	-1.73%	6671.77%	-85.41%	-83.64%	-421.80%	16.94%	-102.15%	-448.97%	226.28%	-20.61%	-37.16%	-11.10%	89.27%	-54.86%	-20.78%	105.59%	-963.39%	-120.89%	265.80%	-53.75%	-16.41%	21.67%	-13.53%	102.99%	83650.00%	-99.95%	45.39%	11.98%	-22.60%	23.40%	6.96%	3.72%	-5.31%	22.15%
net income margin %	6.23%	6.18%	6.62%	6.18%	6.06%	4.75%	5.96%	6.41%	6.24%	2.67%	7.85%	8.03%	5.21%	5.49%	Infinity%	Infinity%	17.53%	5.40%	46.58%	12.08%	8.51%	8.10%	9.75%	0.45%	-8.02%	-10.50%	-12.46%	-8.17%	-7.68%	-9.29%	-2.43%	-7.33%	-9.41%	-1.98%	-22.76%	-13.15%	-11.41%	-11.86%	-0.15%	-0.98%	-7.89%	1.80%	1.34%	-51.23%	14.47%	4.39%	5.82%	9.09%	9.74%	5.49%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
basic income per common share	240	240	250	240	230	190	210	200	190	60	210	210	140	120	270	510	370	110	980	250	160	140	-67.5	10
diluted income per common share	230	230	240	230	220	180	200	190	180	60	190	210	130	120	260	500	350	100	930	240	150	130	-67.5	10
basic weighted-average shares outstanding	31,056,892,000	30,637,211,000	30,932,459,000	31,157,183,000	31,012,087,000	30,642,438,000	30,496,306,000	30,388,675,000	30,498,127,000	30,605,475,000	31,075,648,000	30,605,963,000	31,305,214,000	31,815,160,000	32,292,978,000	31,908,864,000	32,561,903,000	32,971,709,000	33,333,557,000	33,371,906,000	33,491,395,000	33,176,895,000		33,695,936,000															30,726,554,000				29,988,324,000	29,926,273,000	30,937,394,000	32,231,011,000	32,143,064,000	31,651,061,000	31,561,412,000	31,482,853,000	31,140,261,000	30,840,322,000	30,393,309,000	27,928,750,000	27,298,989,000	27,207,288,000	26,959,713,000	27,046,617,000		27,464,177,000							27,708,278,000
diluted weighted-average shares outstanding	32,484,470,000	32,295,229,000	32,411,075,000	32,497,238,000	32,518,672,000	32,204,055,000	31,634,192,000	31,464,461,000	31,459,066,000	31,938,342,000	32,074,561,000	31,513,488,000	32,124,188,000	32,937,600,000	33,719,424,000	33,078,568,000	34,004,568,000	34,868,869,000	35,024,108,000	35,437,761,000	35,559,747,000	34,911,119,000		33,815,332,000															30,726,554,000				29,988,324,000	29,926,273,000	30,937,394,000	32,321,482,000	32,658,070,000	32,540,187,000	32,331,686,000	33,054,264,000	33,183,165,000	32,778,428,000	32,382,518,000	27,928,750,000	28,068,461,000	28,291,022,000	27,371,132,000			27,556,616,000							28,526,789,000
other operating expenses (income)							270,000	573,000	62,000					139,000
fair value adjustment of acquisition earn-outs
interest and other expense											-434,250	-775,000																					-304,000	-425,000
total revenues															75,202,000	69,866,000
fair value adjustments of acquisition earn-outs															-5,000,000	-11,500,000	-8,500,000
interest and other expenses (income)															-18,250	104,000
revenue																	37,384,000	36,217,000	41,249,000	37,862,000	35,968,000	31,071,000	31,586,000	30,442,000	35,203,000	30,349,000	38,411,000	36,388,000	37,355,000	35,735,000	34,213,000	32,080,000	43,104,000	40,280,000	43,771,000	44,404,000	52,415,000	47,980,000	62,025,000	66,423,000	50,138,000	70,060,000	83,286,000	98,163,000	100,307,000	102,920,000	93,470,000	99,673,000	106,199,000	104,261,000	105,601,000	112,165,000		86,058,000	92,103,000	78,511,000	72,751,000	75,782,000	65,313,000	58,045,000	59,676,000	55,642,000	71,473,000	62,839,000	59,266,000	52,505,000	49,281,000	45,167,000	39,755,000	38,750,000	37,101,000
fee revenue																	30,891,000	30,490,000	29,078,000	31,804,000	25,818,000	24,680,000	24,304,000	17,280,000	17,621,000	19,155,000	20,379,000	20,494,000	19,445,000	18,318,000	18,492,000	18,489,000	16,993,000	20,863,000	17,594,000	21,116,000	19,920,000	22,816,000	23,163,000	20,455,000	15,737,000	19,686,000	19,657,000	26,980,000	26,658,000	25,409,000	28,478,000	24,526,000	24,125,000	17,944,000	15,672,000	13,559,000
seller distributions																											2,438,000	2,994,000	2,775,000	2,624,000	3,608,000	3,936,000	3,859,000	3,312,000
basic and diluted loss per common share																									-130	-150	-150	-140	-130	-150	-30	-120	-180	-40	-200	-270	-260	-270
basic and diluted weighted-average shares outstanding																							33,612,263,000		33,624,889,000	33,545,235,000	33,062,976,000	33,164,750,000	32,987,608,000	32,808,144,000	32,095,491,000	32,104,368,000	31,972,752,000	31,876,603,000		31,485,599,000	31,361,122,000	31,261,603,000
costs and expenses:
client distributions																																			3,674,250	5,189,000	4,960,000	4,548,000
acquisition costs																																														85,000	95,000	239,000	212,000	5,376,000	1,109,000		318,000			4,695,000	524,000
other operating expense																																			261,000	652,000	1,319,000
interest expense and other expense																																			-72,750	-189,000		34,000						38,000			21,000
interest income and other income																																					-91,000																				50,000	55,000		33,000	90,000	236,000			488,000
income before benefit for income taxes																																					-8,305,000
benefit for income taxes																																					-53,000		17,000															4,550,000
other operating income																																						928,000
profit-sharing distributions																																							2,663,000	2,506,000	2,357,000	6,355,000	7,558,000	9,592,000	8,254,000	8,299,000	10,130,000	8,649,000	9,942,000	8,410,000	10,245,000	11,385,000	12,487,000	12,340,000	11,988,000	10,621,000	10,256,000	11,068,000	8,991,000	8,094,000	11,797,000	14,339,000	24,200,000	22,630,000	20,806,000	17,409,000	17,731,000	18,729,000	20,830,000	20,534,000	20,719,000
acquisition costs and related fair value adjustments and impairment of goodwill and long-lived assets																																									39,000			96,238,000
interest and other (expense) income
(loss) before provision for income taxes
basic earnings per common share																																											50	-2,140	590	170	220	360	400	210	480	610	300	-40	190	50	110	130	110	120	60		140	100	80	110	90	80	80	90	80
diluted earnings per common share																																											50	-2,140	590	170	220	350	390	200	450	570	280	-40	180	50	110	130	110	120	60		140	100	80	110	90	80	90	80	80
amortization of contract intangibles																																												1,211,000	2,349,000	2,272,000	2,407,000	2,407,000	2,407,000	2,210,000	2,020,000	2,020,000	2,020,000	203,000	204,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000	203,000
benefit (provision) for income taxes																																								267,000		1,629,000
basic (loss) earnings per common share																																								-30
diluted (loss) earnings per common share																																								-30
basic weighted average shares outstanding																																								30,594,940,000	30,490,670,000	30,011,121,000																	27,539,308,000		27,777,517,000	28,026,296,000	27,964,662,000	27,951,777,000	27,944,139,000	27,857,115,000		27,597,419,000	24,080,780,000	27,347,778,000	22,409,104,000
diluted weighted average shares outstanding																																								30,594,940,000	30,490,670,000	30,011,121,000																27,228,908,000	27,673,241,000		27,972,045,000	28,026,296,000	28,237,150,000	28,261,121,000	28,107,692,000	28,321,395,000		28,449,429,000	26,087,809,000	28,291,280,000	25,052,464,000
loss before benefit from income taxes
benefit from income taxes
basic loss per common share																																									-170
diluted loss per common share																																									-170
basic earnings (loss) per common share																																										50
diluted earnings (loss) per common share																																										50
acquisition costs and related fair value adjustments
interest expense and other income																																																		924,000
total revenue from continuing operations																																																			121,273,000	125,724,000
costs and expenses from continuing operations:
income from continuing operations																																																			25,289,000	31,853,000	16,260,000
income before provision for income taxes from continuing operations																																																			24,772,000	31,270,000	15,735,000
loss from discontinued operations, net of tax
basic earnings per common share:
from continuing operations																																																			480	610	300
from discontinued operations
diluted earnings per common share:
revenue from continuing operations																																																					106,031,000
acquisition costs and goodwill impairment																																																						16,894,000
interest income and other (expense)																																																						5,000
interest income (expense) and other income																																																															292,000	621,000		475,000	551,000	598,000
interest income and expense and other income																																																																						454,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-06-30	2016-03-31	2015-12-31	2015-06-30	2015-03-31	2014-12-31	2014-06-30	2014-03-31	2013-12-31	2013-06-30	2013-03-31	2012-12-31	2012-06-30	2012-03-31	2011-12-31	2011-06-30	2011-03-31	2010-12-31	2010-06-30	2010-03-31	2009-12-31	2009-06-30	2009-03-31	2008-12-31	2008-06-30	2008-03-31	2007-12-31	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31

assets
current assets:
cash and cash equivalents	195,308,000	169,800,000	174,607,000	155,605,000	138,486,000	128,700,000	153,226,000	130,312,000	108,634,000	98,557,000	110,281,000	98,147,000	95,583,000	76,166,000	96,122,000	88,286,000	84,264,000	91,321,000	106,335,000	112,666,000	87,613,000	77,844,000	76,036,000	72,729,000	41,816,000	24,183,000	36,497,000	36,414,000	33,922,000	38,513,000		83,411,000	99,677,000	96,766,000		113,935,000	116,110,000	126,914,000	129,865,000	117,528,000	85,452,000	96,188,000	86,231,000	74,222,000	56,948,000	101,766,000	101,491,000	63,327,000	57,198,000	45,892,000	84,625,000	104,756,000	68,799,000	93,512,000	83,361,000	48,525,000	51,529,000	42,238,000	23,140,000	39,454,000	34,204,000	35,446,000	50,622,000	40,444,000	46,523,000	37,103,000	49,966,000	42,971,000	54,359,000	50,018,000	53,349,000
short-term investments	8,711,000	11,621,000	11,212,000	11,353,000	10,539,000	10,445,000	2,310,000	6,486,000	8,400,000	8,480,000	7,891,000	7,715,000	5,615,000	3,716,000	1,819,000										10,000,000	25,000,000	30,000,000	30,000,000	30,000,000	30,000,000		10,000,000																						10,910,000	12,786,000	32,947,000	17,681,000	26,228,000	38,181,000	21,879,000	19,759,000	17,816,000	726,000	21,992,000	21,840,000	18,988,000	10,220,000	15,688,000	12,289,000	13,729,000	8,421,000
accounts receivable	13,034,000	11,284,000	11,176,000	20,158,000	20,740,000	23,070,000	11,467,000	8,823,000	9,552,000	7,745,000	7,848,000	6,257,000	5,960,000	7,969,000	11,792,000	8,127,000	6,606,000	7,797,000	5,866,000	5,470,000	5,731,000	4,801,000	5,322,000	5,159,000	5,972,000	5,949,000	6,704,000	5,742,000	6,175,000	6,089,000		5,856,000	6,146,000	7,442,000		11,621,000	12,070,000	10,711,000	8,965,000	7,193,000	6,039,000	10,041,000	14,525,000	27,719,000	24,307,000	27,055,000	28,567,000	22,821,000	18,224,000	19,525,000	12,090,000	11,508,000	9,279,000	5,258,000	7,039,000	4,762,000	4,838,000	4,874,000	3,804,000	3,724,000	3,681,000	2,531,000	4,396,000	3,625,000	2,646,000	4,076,000	3,788,000	1,740,000	2,557,000	1,685,000	1,655,000
inventory	20,238,000	14,407,000	14,180,000	16,853,000	20,052,000	13,742,000	17,099,000	13,275,000	15,398,000	14,465,000	11,116,000	12,541,000	15,290,000	16,369,000	11,679,000	14,355,000	13,079,000	13,225,000	12,468,000	13,799,000	13,124,000	9,931,000	5,607,000	7,415,000	8,491,000	5,808,000	5,843,000	8,891,000	13,050,000	10,504,000		12,797,000	10,099,000	17,053,000		18,876,000	22,476,000	26,744,000	25,829,000	32,186,000	27,454,000	40,672,000	51,695,000	62,888,000	69,389,000	71,640,000	35,771,000	27,710,000	25,181,000	21,914,000	26,415,000	23,639,000	24,412,000	14,714,000	19,272,000	18,687,000	14,611,000	16,590,000	17,615,000	13,333,000	13,084,000	12,608,000	16,637,000	16,760,000	17,563,000	14,302,000	11,792,000	9,212,000	4,704,000	2,787,000	2,484,000
prepaid taxes and tax refund receivable	2,674,000	2,235,000	1,757,000	3,401,000	4,796,000	1,672,000	1,519,000	1,650,000	1,488,000	1,426,000	1,783,000	1,766,000	1,994,000	1,833,000	1,631,000	1,489,000	1,715,000	1,677,000	1,713,000	1,600,000	1,594,000	1,442,000	1,652,000	3,081,000	3,399,000	2,608,000	2,531,000	1,673,000	1,774,000	1,516,000
prepaid expenses and other current assets	10,240,000	9,914,000	11,857,000	12,637,000	10,273,000	11,121,000	13,614,000	12,679,000	7,966,000	7,290,000	7,349,000	8,476,000	6,135,000	7,585,000	6,551,000	8,083,000	6,508,000	6,465,000	5,460,000	5,970,000	6,843,000	6,853,000	5,962,000	6,546,000	6,168,000	6,975,000	8,350,000	8,129,000	8,574,000	6,999,000		6,857,000	6,567,000	4,878,000		7,891,000	9,807,000	9,045,000	7,161,000	6,819,000	7,044,000	5,320,000	4,774,000	4,516,000	6,435,000	6,136,000	4,632,000	5,737,000	5,884,000	3,945,000	5,613,000	5,067,000											7,119,000	7,043,000	5,587,000	3,467,000	4,337,000	2,472,000	2,001,000	1,850,000	1,392,000
total current assets	250,205,000	219,261,000	224,789,000	220,007,000	204,886,000	188,750,000	199,235,000	173,225,000	151,438,000	137,963,000	146,268,000	134,902,000	130,577,000	113,638,000	129,594,000	120,340,000	112,172,000	120,485,000	131,842,000	139,505,000	114,905,000	100,871,000	94,579,000	94,930,000	75,846,000	70,523,000	89,925,000	90,849,000	93,495,000	93,621,000		121,188,000	124,980,000	128,656,000		154,682,000	164,231,000	177,138,000	185,299,000	176,726,000	179,604,000	173,347,000	172,904,000	185,995,000	170,020,000	225,590,000	181,319,000	137,347,000	128,681,000	111,513,000	144,123,000	155,125,000	121,817,000	139,647,000	133,547,000	115,908,000	98,367,000	100,138,000	92,245,000	88,404,000	79,389,000	77,089,000	79,500,000	89,864,000	94,159,000	77,936,000	80,103,000	72,083,000	75,911,000	70,069,000	67,301,000
property and equipment	18,890,000	18,745,000	18,259,000	18,187,000	18,136,000	18,003,000	17,961,000	17,047,000	17,055,000	16,774,000	17,156,000	17,570,000	18,245,000	18,548,000	19,094,000	19,025,000	18,243,000	18,164,000	17,634,000	17,003,000	17,341,000	17,697,000	17,843,000	18,500,000	18,940,000	18,695,000	18,846,000	18,589,000	17,876,000	17,274,000		15,952,000	15,859,000	16,531,000		16,689,000	16,105,000	15,591,000	14,098,000	13,495,000	13,485,000	13,021,000	14,327,000	12,414,000	12,601,000	12,448,000	11,620,000	10,289,000	10,331,000	11,118,000	7,166,000	7,558,000	7,861,000	7,984,000	7,696,000	7,822,000	7,065,000	6,950,000	6,677,000	5,979,000	5,490,000	4,865,000	4,717,000	4,402,000	4,205,000	4,209,000	3,914,000	3,325,000	2,362,000	1,629,000	1,548,000
operating lease assets	12,397,000	11,287,000	11,499,000	11,864,000	12,988,000	11,352,000	12,005,000	13,289,000	9,429,000	9,052,000	9,888,000	10,305,000	11,414,000	12,177,000	13,207,000	14,400,000	14,085,000	15,309,000	13,478,000	12,008,000	12,596,000	13,273,000	10,561,000	9,263,000	10,437,000	11,724,000
intangible assets	11,797,000	12,563,000	13,340,000	14,096,000	15,214,000	13,107,000	13,912,000	14,860,000	15,937,000	11,612,000	12,457,000	13,298,000	14,274,000	15,252,000	16,234,000	17,237,000	18,209,000	19,187,000	3,453,000	3,777,000	4,110,000	4,427,000	4,758,000	5,086,000	5,417,000	5,727,000	6,043,000	6,377,000	6,708,000	7,035,000		397,000	411,000	425,000		1,374,000	1,912,000	2,324,000	2,965,000	3,319,000	3,704,000	3,365,000	3,812,000	4,262,000	19,472,000	22,223,000	25,232,000	31,097,000	34,089,000	37,075,000	31,751,000	34,062,000	36,377,000	3,368,000	2,201,000	2,633,000	3,480,000	3,369,000	3,800,000	4,327,000	4,609,000	5,001,000	6,088,000	5,143,000	4,336,000	4,729,000	4,944,000	5,175,000	4,909,000	5,107,000	5,318,000
goodwill	102,757,000	102,889,000	102,875,000	103,007,000	102,371,000	97,401,000	97,792,000	97,565,000	97,555,000	89,627,000	89,388,000	89,616,000	89,464,000	89,345,000	88,910,000	89,247,000	89,691,000	88,727,000	59,872,000	60,023,000	59,986,000	60,126,000	59,839,000	59,587,000	59,530,000	59,728,000	59,467,000	59,685,000	59,690,000	59,724,000		45,316,000	45,656,000	45,466,000		45,189,000	44,876,000	44,786,000	64,114,000	64,421,000	63,529,000	122,361,000	121,835,000	122,640,000	212,458,000	210,824,000	211,562,000	209,357,000	210,207,000	212,664,000	150,766,000	150,766,000	150,768,000	40,538,000	40,005,000	39,537,000	38,930,000	33,227,000	33,890,000	33,839,000	31,834,000	32,105,000	36,516,000	19,752,000	11,446,000	11,306,000	11,358,000	11,358,000	3,678,000	3,674,000	3,624,000
deferred tax assets	546,000	567,000	567,000	577,000	705,000	227,000	1,728,000	2,733,000	5,268,000	6,439,000	7,050,000	9,072,000	11,104,000	12,447,000	13,628,000	16,689,000	18,508,000	19,217,000	23,822,000	762,000	777,000	792,000	806,000	821,000	836,000	851,000	866,000	869,000	889,000	930,000
other assets	3,819,000	3,832,000	3,772,000	4,697,000	4,495,000	4,366,000	4,255,000	6,819,000	6,969,000	6,958,000	6,762,000	8,264,000	8,019,000	7,794,000	7,437,000	5,872,000	5,911,000	5,789,000	5,475,000	5,325,000	7,868,000	8,068,000	8,248,000	10,677,000	11,066,000	11,948,000	12,136,000	14,299,000	14,451,000	14,272,000		13,624,000	12,246,000	12,809,000		12,611,000	11,882,000	11,847,000	15,334,000	15,264,000	14,499,000	2,397,000	2,022,000	1,805,000	7,088,000	7,240,000	6,846,000	7,667,000	7,639,000	7,656,000	5,754,000	5,954,000	5,958,000	6,361,000	6,276,000	6,532,000	7,061,000	3,131,000	3,133,000	3,647,000	3,043,000	3,466,000	3,034,000	2,775,000	2,440,000	2,254,000	1,875,000	1,882,000	1,178,000	1,348,000	1,299,000
total assets	400,411,000	369,144,000	375,101,000	372,435,000	358,795,000	333,206,000	346,888,000	325,538,000	303,651,000	278,425,000	288,970,000	283,027,000	283,097,000	269,201,000	288,104,000	282,810,000	276,819,000	286,878,000	255,576,000	238,403,000	217,583,000	205,254,000	196,634,000	198,864,000	182,072,000	179,196,000	187,283,000	190,668,000	193,109,000	192,856,000	201,832,000	197,440,000	200,115,000	204,849,000	215,229,000	231,566,000	240,027,000	252,707,000	295,957,000	287,055,000	282,846,000	342,796,000	343,205,000	355,421,000	421,639,000	478,325,000	436,579,000	395,757,000	390,947,000	380,026,000	339,560,000	353,465,000	322,781,000	197,898,000	189,725,000	172,432,000	154,903,000	146,815,000	139,745,000	136,196,000	124,365,000	122,526,000	129,855,000	121,936,000	116,586,000	100,434,000	102,194,000	93,823,000	88,038,000	81,827,000	79,090,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	53,321,000	52,220,000	61,454,000	58,797,000	55,896,000	45,572,000	58,693,000	40,877,000	48,410,000	32,389,000	39,115,000	44,606,000	42,915,000	31,592,000	41,982,000	47,206,000	41,029,000	31,957,000	40,611,000	39,748,000	36,904,000	25,258,000	21,957,000	29,002,000	19,166,000	9,714,000	15,051,000	13,289,000	11,126,000	10,369,000		16,264,000	18,974,000	11,509,000		11,768,000	12,570,000	9,180,000	8,512,000	8,782,000	10,094,000	17,117,000	15,686,000	15,135,000	15,764,000	21,897,000	20,589,000	12,281,000	10,763,000	11,342,000	5,540,000	15,586,000	9,192,000	6,388,000	8,014,000	8,767,000	10,005,000	5,854,000	5,604,000	5,656,000	5,869,000	6,218,000	8,902,000	5,530,000	4,843,000	2,319,000	3,464,000	3,948,000	2,073,000	1,431,000	1,517,000
accrued expenses and other current liabilities	25,025,000	23,264,000	30,575,000	25,363,000	23,517,000	22,757,000	28,261,000	27,803,000	23,718,000	17,413,000	23,809,000	20,538,000	24,755,000	21,630,000	23,304,000	24,799,000	37,946,000	35,709,000	25,975,000	22,226,000	21,727,000	17,411,000	19,124,000	17,757,000	17,214,000	19,055,000	28,794,000	24,390,000	22,839,000	20,914,000		18,204,000	19,219,000	26,469,000		31,742,000	34,213,000	43,054,000	35,354,000	30,209,000	25,267,000	23,763,000	28,094,000	36,951,000	50,460,000	64,369,000	32,144,000	30,165,000	32,753,000	33,797,000	29,722,000	26,481,000	22,040,000	18,307,000	20,278,000	19,707,000	21,219,000	19,423,000	17,499,000	15,666,000	10,550,000	7,716,000	7,808,000	5,729,000	6,718,000	7,416,000	5,029,000	4,128,000	5,283,000
current portion of operating lease liabilities	4,682,000	4,894,000	5,071,000	5,237,000	4,924,000	5,121,000	5,185,000	5,213,000	4,331,000	4,009,000	4,101,000	4,279,000	4,505,000	4,559,000	4,540,000	4,644,000	4,306,000	4,382,000	4,250,000	4,081,000	4,058,000	3,956,000	3,818,000	4,127,000	4,635,000	4,893,000
deferred revenue	5,103,000	4,857,000	5,093,000	5,233,000	5,364,000	4,440,000	4,788,000	4,905,000	4,865,000	4,474,000	4,701,000	4,700,000	4,530,000	4,022,000	4,439,000	4,920,000	5,067,000	4,685,000	4,624,000	4,517,000	4,172,000	3,429,000	3,255,000	3,025,000	2,960,000	2,689,000	3,049,000	3,185,000	3,098,000	2,776,000
payables to sellers	77,176,000	57,989,000	59,432,000	59,265,000	62,372,000	57,610,000	58,226,000	64,453,000	51,842,000	48,811,000	48,992,000	46,071,000	47,342,000	43,635,000	49,238,000	45,322,000	44,238,000	48,288,000	33,713,000	39,426,000	31,552,000	27,239,000	26,170,000	26,325,000	21,366,000	20,910,000	20,253,000	24,840,000	25,131,000	27,185,000		28,925,000	24,527,000	25,377,000
total current liabilities	165,307,000	143,224,000	161,625,000	153,895,000	152,073,000	135,500,000	155,153,000	143,251,000	133,166,000	107,096,000	120,718,000	120,194,000	124,047,000	105,437,000	123,503,000	126,891,000	132,586,000	125,021,000	109,173,000	109,998,000	98,413,000	77,293,000	74,324,000	80,236,000	65,341,000	57,261,000	68,822,000	67,531,000	63,801,000	62,766,000		65,632,000	65,295,000	65,743,000		77,371,000	79,368,000	85,813,000	74,397,000	68,256,000	67,089,000	74,249,000	79,500,000	94,162,000	101,571,000	123,034,000	86,944,000	73,298,000	82,681,000	85,962,000	68,796,000	80,981,000	70,857,000	50,772,000	58,148,000	54,820,000	43,815,000	39,043,000	33,272,000	30,830,000	27,903,000	24,903,000	32,415,000	29,992,000	28,951,000	21,142,000	26,603,000	23,670,000	21,829,000	19,316,000	19,520,000
operating lease liabilities	9,855,000	8,613,000	8,723,000	8,921,000	9,914,000	8,242,000	9,060,000	10,226,000	6,453,000	5,828,000	6,581,000	6,843,000	7,776,000	8,576,000	9,687,000	10,836,000	10,831,000	11,774,000	10,098,000	8,872,000	9,421,000	10,006,000	7,499,000	5,908,000	6,539,000	7,646,000
other long-term liabilities	3,181,000	2,042,000	1,511,000	969,000	483,000	303,000	115,000	91,000	107,000	122,000	137,000	181,000	200,000	235,000	378,000	414,000	413,000	13,004,000		2,972,000	2,811,000	2,892,000																			3,334,000			7,512,000																			2,971,000	2,673,000	2,212,000	1,476,000	1,462,000	1,298,000	413,000	92,000	75,000
total liabilities	178,343,000	153,879,000	171,859,000	163,785,000	162,470,000	144,045,000	164,328,000	153,568,000	139,726,000	113,046,000	127,436,000	127,218,000	132,023,000	114,248,000	133,568,000	138,141,000	143,830,000	149,799,000	120,561,000	121,842,000	110,645,000	90,191,000	84,819,000	88,626,000	73,960,000	66,759,000	71,108,000	69,555,000	68,644,000	66,357,000	72,178,000	72,119,000	71,978,000	72,327,000	82,593,000	88,013,000	90,277,000	96,932,000	77,876,000	71,477,000	70,423,000	80,998,000	86,486,000	101,674,000	103,382,000	143,847,000	108,126,000	100,818,000	110,449,000	114,001,000	103,011,000	115,235,000	116,178,000	57,618,000	60,107,000	56,835,000	48,540,000	41,885,000	36,212,000	34,148,000	30,776,000	28,077,000	35,389,000	32,669,000	31,167,000	22,655,000	28,099,000	25,007,000	22,286,000	19,458,000	19,653,000
commitments and contingencies
stockholders’ equity:
common stock, 0.001 par value...	38,000	38,000	37,000	37,000	37,000	37,000	37,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	35,000	35,000	35,000	34,000	34,000	34,000	34,000	34,000	34,000	33,000	33,000	33,000		29,000	29,000	29,000		29,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	28,000	31,000	31,000	31,000	31,000	31,000	31,000	30,000	30,000	28,000	27,000	27,000	27,000	27,000	27,000	28,000	27,000	28,000	28,000	28,000	28,000	28,000	28,000	27,000	27,000	27,000	27,000
additional paid-in capital	291,480,000	291,531,000	285,721,000	281,370,000	278,124,000	278,452,000	275,771,000	271,825,000	269,297,000	268,096,000	265,945,000	264,162,000	262,118,000	260,653,000	258,275,000	256,572,000	254,680,000	253,536,000	252,017,000	251,048,000	249,866,000	250,002,000	247,892,000	246,016,000	244,527,000	243,311,000	242,686,000	241,361,000	239,806,000	237,679,000		231,327,000	229,850,000	228,626,000		226,422,000	224,327,000	222,392,000	218,416,000	215,672,000	213,087,000	213,479,000	210,287,000	207,539,000	223,939,000	218,955,000	213,871,000	200,059,000	195,543,000	191,942,000	165,405,000	151,947,000	139,064,000	107,765,000	99,119,000	91,393,000	81,420,000	78,558,000	75,452,000	71,684,000	69,244,000	67,517,000	64,386,000	63,180,000	61,982,000	59,946,000	59,364,000	56,601,000	55,964,000	54,817,000	54,483,000
treasury stock	-111,618,000	-111,542,000	-110,002,000	-93,901,000	-93,901,000	-93,873,000	-93,854,000	-93,482,000	-93,109,000	-85,202,000	-84,031,000	-84,027,000	-79,586,000	-69,754,000	-62,554,000	-62,176,000	-56,726,000	-39,691,000	-36,628,000	-21,628,000	-21,628,000	-8,255,000	-3,983,000
accumulated other comprehensive loss	-10,969,000	-10,377,000	-10,640,000	-9,160,000	-10,829,000	-11,298,000	-9,427,000	-10,067,000	-9,957,000	-9,500,000	-10,457,000	-8,124,000	-8,769,000	-9,012,000	-10,285,000	-10,481,000	-9,311,000	-9,142,000	-9,011,000	-8,740,000	-8,763,000	-8,886,000	-9,782,000	-8,019,000	-8,443,000	-7,140,000	-7,973,000	-6,933,000	-6,678,000	-6,876,000		-7,195,000	-6,448,000	-6,482,000		-8,639,000	-8,962,000	-9,210,000
retained earnings	53,137,000	45,615,000	38,126,000	30,304,000	22,894,000	15,843,000	10,033,000	3,658,000																								-98,840,000	-95,294,000	-89,651,000		-74,259,000	-65,644,000	-57,436,000	4,716,000	4,840,000	5,690,000	54,582,000	52,967,000	51,586,000	138,566,000	120,193,000	114,562,000	97,060,000	85,772,000	73,074,000	101,081,000	86,218,000	67,456,000	55,203,000	56,260,000	51,201,000	47,312,000	44,322,000	40,745,000	37,163,000	33,763,000	32,088,000	29,389,000	25,542,000	22,896,000	17,353,000	14,300,000	11,827,000	9,514,000	7,284,000	4,929,000
total stockholders’ equity	222,068,000	215,265,000	203,242,000	208,650,000	196,325,000	189,161,000	182,560,000	171,970,000	163,925,000	165,379,000	161,533,000	155,809,000	151,074,000	154,953,000		144,669,000	132,989,000	137,079,000		116,561,000	106,938,000	115,063,000		110,238,000	108,112,000	112,437,000		121,113,000	124,465,000	126,499,000		125,321,000	128,137,000	132,522,000		143,553,000	149,750,000	155,775,000	218,081,000	215,578,000	212,423,000	261,798,000	256,719,000	253,747,000	318,257,000	334,478,000	328,453,000	294,939,000	280,498,000	266,025,000	236,549,000	238,230,000	206,603,000	140,280,000	129,618,000	115,597,000	106,363,000	104,930,000	103,533,000	102,048,000	93,589,000	94,449,000	94,466,000	89,267,000	85,419,000	77,779,000	74,095,000	68,816,000	65,752,000	62,369,000	59,437,000
total liabilities and stockholders’ equity	400,411,000	369,144,000	375,101,000	372,435,000	358,795,000	333,206,000	346,888,000	325,538,000	303,651,000	278,425,000	288,970,000	283,027,000	283,097,000	269,201,000		282,810,000	276,819,000	286,878,000		238,403,000	217,583,000	205,254,000		198,864,000	182,072,000	179,196,000		190,668,000	193,109,000	192,856,000		197,440,000	200,115,000	204,849,000		231,566,000	240,027,000	252,707,000	295,957,000	287,055,000	282,846,000	342,796,000	343,205,000	355,421,000	421,639,000	478,325,000	436,579,000	395,757,000	390,947,000	380,026,000	339,560,000	353,465,000	322,781,000	197,898,000	189,725,000	172,432,000	154,903,000	146,815,000	139,745,000	136,196,000	124,365,000	122,526,000	129,855,000	121,936,000	116,586,000	100,434,000	102,194,000	93,823,000	88,038,000	81,827,000	79,090,000
accumulated deficit									-2,342,000	-8,051,000	-9,958,000	-16,238,000	-22,725,000	-26,970,000	-30,936,000	-39,282,000	-55,690,000	-67,660,000	-71,398,000	-104,154,000	-112,572,000	-117,832,000	-122,346,000	-127,793,000	-128,006,000	-123,768,000	-118,572,000	-113,348,000	-108,696,000	-104,337,000
liabilities and stockholders' equity
stockholders' equity:
total stockholders' equity															154,536,000				135,015,000				111,815,000				116,175,000				129,654,000				132,636,000
total liabilities and stockholders' equity															288,104,000				255,576,000				196,634,000				187,283,000
deferred taxes and other long-term liabilities																			1,290,000				2,996,000	2,482,000	2,080,000	1,852,000	2,286,000	2,024,000	4,843,000	3,591,000		6,487,000	6,683,000	6,584,000		10,642,000	10,909,000	11,119,000				6,749,000	6,986,000		1,811,000	2,248,000	2,703,000	9,221,000	9,561,000	9,926,000	2,215,000	2,254,000	2,298,000	2,105,000	1,959,000	2,015,000	4,725,000	2,790,000	2,872,000	3,219,000	2,842,000	3,136,000
distributions payable																											1,675,000	1,827,000	1,607,000	1,522,000		2,239,000	2,575,000	2,388,000		9,930,000	4,738,000	4,689,000
consolidated balance sheet data
cash, cash equivalents and short-term investments																															78,448,000				94,348,000
working capital																															34,512,000				68,166,000
prepaid taxes																																2,267,000	2,491,000	2,517,000		1,981,000	2,433,000
net deferred long-term tax assets																																963,000	963,000	962,000
tax refund receivable																																				378,000	1,335,000	1,217,000	1,409,000	1,358,000	33,491,000
deferred long-term tax assets																																				1,021,000	1,021,000	1,021,000	14,147,000	13,830,000	8,025,000	28,305,000	28,305,000	28,305,000
customer payables																																				23,931,000	27,847,000	28,890,000	29,017,000	27,762,000	30,385,000	30,683,000	30,695,000	37,729,000	31,715,000	32,116,000	29,737,000	28,039,000	34,851,000	35,108,000	12,561,000	14,954,000	16,810,000	13,471,000	14,749,000	12,474,000	8,533,000	8,073,000	5,718,000	6,217,000	6,927,000	6,519,000	7,687,000	9,220,000	7,293,000	5,167,000	7,694,000
prepaid and deferred taxes																																						2,507,000	12,070,000	11,642,000	20,124,000	21,126,000	15,679,000	16,650,000	12,941,000	18,993,000	10,858,000	17,752,000	22,194,000	20,237,000	15,336,000	10,071,000
profit-sharing distributions payable																																							1,514,000	1,503,000	1,343,000	2,686,000	5,025,000	4,347,000	3,632,000	4,652,000	4,474,000	2,813,000	4,314,000	3,508,000	2,938,000	6,117,000	6,308,000	5,358,000	10,107,000	6,372,000	4,058,000	5,635,000	4,394,000	3,238,000	4,533,000	4,427,000	8,015,000	9,510,000	10,093,000	6,217,000	10,392,000	8,185,000	7,736,000	6,940,000	8,896,000
long-term liabilities																																							3,479,000	3,221,000
acquisition earn out payables																																														18,565,000	18,479,000	18,299,000	18,207,000	18,113,000			11,023,000
accumulated other comprehensive income																																													594,000					978,000	31,000	35,000	53,000										663,000	517,000	513,000	452,000	403,000	361,000	247,000	241,000
current portion of acquisition earn out payables																																																		2,207,000	8,269,000	8,227,000	7,313,000
current portion of note payable																																																			9,500,000	9,000,000	8,500,000
note payable, net of current portion																																																			32,000,000	32,000,000	32,000,000
current assets of discontinued operations																																																			44,000	84,000	203,000
current liabilities of discontinued operations																																																			266,000	616,000	694,000
prepaid expenses, deferred taxes and other current assets																																																					19,124,000	15,253,000	11,089,000	10,987,000	9,708,000	10,208,000	9,505,000	10,014,000	8,661,000	8,688,000
acquisition earn out payable																																																						7,248,000	5,000,000	7,500,000
current portion of capital lease obligations																																																										58,000	57,000	53,000			3,000	3,000	4,000				63,000	76,000	109,000
capital lease obligations, net of current portion																																																										52,000	68,000	99,000			3,000	4,000	4,000				2,000	4,000	8,000
current portion of long-term debt and capital lease obligations																																																													24,000	23,000
long-term debt and capital lease obligations, net of current portion																																																													31,000	38,000
current portion of long-term debt																																																																					16,000	16,000	16,000
long-term debt																																																																					42,000	46,000	50,000
current portion of capital lease obligations and long-term debt																																																																		23,000	24,000	30,000
capital lease obligations and long-term debt, net of current portion																																																																		37,000	34,000	39,000
consignment payables																																																																				7,379,000	6,658,000	2,172,000	2,568,000
redeemable common stock
series c preferred stock, 20,000,000 liquidation preference; .001 par value...
accrued expenses and other																																																																						8,681,000	6,414,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-06-30	2016-03-31	2015-12-31	2015-06-30	2015-03-31	2014-12-31	2014-06-30	2014-03-31	2013-12-31	2013-06-30	2013-03-31	2012-12-31	2012-06-30	2012-03-31	2011-12-31	2011-06-30	2011-03-31	2010-12-31	2010-06-30	2010-03-31	2009-12-31	2009-06-30	2009-03-31	2008-12-31	2008-06-30	2008-03-31	2007-12-31	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30

operating activities
net income	7,522,000	7,489,000	7,822,000	7,410,000	7,051,000	5,810,000	6,375,000	5,999,000	5,710,000	1,907,000	6,280,000	6,487,000	4,244,000	3,967,000	8,345,000	16,407,000	11,970,000	3,602,000	32,756,000	8,418,000	5,261,000	4,514,000																					1,381,000	-64,116,000	18,373,000	5,631,000	7,093,000	30,675,593	-6,689,593	6,709,000	14,863	-9,098,112	9,126,000	-1,057,000	5,059,000	1,383,000	2,990,000	3,577,000	2,940,000	3,400,000	1,675,000	2,000	3,848,000	2,646,000	2,363,000	3,053,000	2,474,000	2,313,000	2,230,000	2,355,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	2,640,000	2,583,000	2,668,000	2,657,000	2,568,000	2,516,000	2,823,000	3,199,000	3,194,000	2,904,000	2,822,000	2,866,000	2,803,000	2,764,000	2,776,000	2,640,000	2,604,000	2,302,000	1,723,000	1,705,000	1,670,000	1,871,000	1,574,000	1,567,000	1,577,000	1,572,000	1,516,000	1,206,000	1,165,000	1,204,000	1,224,000	1,020,000	1,144,000	1,211,000	1,568,000	1,365,000	1,434,000	1,429,000	1,616,000	1,660,000	1,672,000	2,044,000	1,994,000	3,203,000	4,277,000	4,244,000	4,411,000	12,966,416	-4,188,416	4,197,000	3,497	-3,538,930	3,546,000	1,594,000	1,555,000	1,393,000	1,260,000	1,174,000	1,114,000	1,031,000	881,000	842,000	787,000	668,000	591,000	557,000	512,000	476,000	429,000	382,000
stock compensation expense	4,350,000	6,174,000	4,968,000	3,512,000	2,579,000	3,431,000	3,879,000	2,616,000	2,343,000	2,249,000	2,168,000	2,141,000	1,801,000	2,081,000	2,326,000	1,884,000	1,992,000	2,280,000	1,154,000	1,803,000	1,761,000	2,229,000	1,875,000	1,515,000	1,231,000	1,039,000	1,370,000	1,044,000	2,581,000	1,513,000	2,463,000	1,436,000	1,768,000	930,000	1,915,000	1,563,000	1,399,000	2,500,000	3,084,000	2,724,000	2,420,000	3,499,000	2,810,000	2,602,000	2,950,000	2,908,000	3,659,000	10,221,698	-4,359,698	4,367,000	3,537	-2,619,882	2,625,000	2,221,000	2,312,000	2,216,000	1,784,000	2,509,000	1,736,000	1,653,000	1,566,000	1,483,000	1,177,000	1,152,000	1,111,000	526,000	519,000	364,000	299,000	263,000
inventory adjustment to net realizable value			507,000	0	0	32,000	0	0			189,000	12,000			96,000	0	0	98,000
provision for doubtful accounts	68,000	48,000	157,000	94,000	72,000	33,000	106,000	60,000	572,000	101,000	871,000	325,000	179,000	15,000	68,000	57,000	0	11,000	28,000	94,000	160,000	15,000	69,000	65,000	45,000	21,000	-6,000	58,000	45,000	81,000	8,000	10,000	165,000	16,000	358,000	149,000	-234,000	84,000	140,000	8,000	78,000	149,000	1,084,000	121,000	53,000									21,000	66,000	31,000			40,000			51,000			28,000					50,000
deferred tax expense	1,177,000	550,000	524,000	642,000	-271,000	1,501,000	1,005,000	2,536,000	1,170,000	612,000	2,022,000	2,032,000	1,343,000	1,181,000
gain on disposal of property and equipment	7,000	-5,000		34,000	-45,000	-8,000		-6,000	-10,000	-14,000		-5,000	-10,000	-45,000			-7,000	-6,000							-13,000	-12,000	-35,000	26,000	5,000	-11,000
changes in operating assets and liabilities:
accounts receivable	-1,896,000	-155,000	8,832,000	609,000	2,539,000	-11,747,000	-2,670,000	394,000	-2,057,000	64,000	-2,484,000	-592,000	1,847,000	3,954,000	-4,075,000	-1,578,000	1,158,000	-1,795,000	-423,000	174,000	-1,100,000	506,000	-233,000	749,000	-68,000	734,000	-956,000	369,000	-127,000	-1,298,000	1,031,000	279,000	1,132,000	4,140,000	-337,000	292,000	-1,126,000	-440,000			77,000	4,336,000	4,610,000	1,347,000									1,691,000						399,000	-309,000	-780,000	2,077,000	-145,000	-432,000	2,423,000			818,000
inventory	-1,759,000	-869,000	3,117,000	5,013,000	262,000	-3,151,000	7,235,000	2,123,000	-1,143,000	-3,266,000	1,157,000	2,802,000	242,000	-4,680,000	2,426,000	-1,276,000	146,000	-855,000	1,157,000	-675,000	-3,193,000	-4,324,000	1,508,000	1,076,000	-2,683,000	35,000	2,717,000	4,168,000	-2,563,000	-374,000	2,273,000	-2,949,000	6,954,000	1,842,000	-4,140,000	135,000	347,000	151,000				13,242,000	21,108,000	8,138,000																	-475,000	718,000
prepaid taxes and tax refund receivable	-439,000	-477,000	1,642,000	1,396,000	-3,124,000	-153,000	130,000	-162,000	-62,000	358,000	-17,000	228,000	-161,000	-202,000
prepaid expenses and other assets	-410,000	1,835,000	567,000	-2,143,000	839,000	2,189,000	2,485,000	-4,662,000	-899,000	40,000	951,000	-2,427,000	1,309,000	-999,000	983,000	-1,558,000	-93,000	-1,137,000	455,000	-1,119,000	-123,000	-1,235,000	433,000	-1,395,000	3,062,000	-725,000	1,310,000	596,000	-1,753,000	1,401,000	-2,627,000	-1,670,000	-1,106,000	4,714,000	-2,005,000	1,185,000	-977,000	773,000					-476,000	658,000	113,000	-1,870,000	3,175,000			1,541,000	240	-1,872,840	1,886,000
operating lease assets and liabilities	-123,000	-32,000	-62,000	136,000	-173,000	-246,000	94,000	1,065,000	298,000	-10,000	-21,000	-52,000	-90,000	-65,000	-55,000	29,000	208,000	214,000	-84,000	57,000	37,000	-89,000	-22,000	9,000	-77,000	-97,000
accounts payable	-3,146,000	-8,607,000	1,719,000	1,051,000	3,800,000	-6,638,000	6,825,000	-7,530,000	15,836,000	-6,757,000	-5,385,000	1,594,000	11,318,000	-10,416,000	-5,087,000	6,242,000	9,208,000	-8,815,000	763,000	2,844,000	11,646,000	3,301,000	-7,044,000	9,835,000	9,453,000	-5,337,000	1,761,000	2,163,000	757,000	-3,490,000	-2,495,000	-2,710,000	7,465,000	-1,590,000	1,156,000	-802,000	3,390,000	-552,000			594,000					1,308,000	4,050,000	2,283,234	-1,344,234	1,345,000						162,000	3,824,000	249,000	149,000				1,353,000	337,000	1,510,000	-1,144,000	-484,000	1,875,000	642,000	-86,000
accrued expenses and other current liabilities	1,811,000	-7,334,000	5,252,000	1,955,000	518,000	-5,206,000	417,000	3,974,000	6,243,000	-6,422,000	3,039,000	-4,223,000	3,205,000	-1,744,000	3,302,000	2,166,000	-2,928,000	-5,193,000	3,818,000	239,000	3,997,000	-1,994,000	1,327,000	535,000	-651,000	-9,409,000	2,776,000	-1,549,000	1,185,000	-413,000	2,573,000	-978,000	-7,622,000	-3,549,000	-1,460,000	-2,123,000	-8,377,000	-2,922,000
deferred revenue	245,000	-235,000	-142,000	-131,000	417,000	-348,000	-117,000	40,000	391,000	-227,000	1,000	171,000	507,000	-417,000	-481,000	-146,000	382,000	60,000	107,000	346,000	742,000	174,000	230,000	65,000	271,000	-359,000	-137,000	88,000	322,000	633,000
payables to sellers	19,327,000	-1,491,000	310,000	-3,430,000	4,612,000	-155,000	-6,597,000	12,596,000	3,097,000	-412,000	3,072,000	-1,339,000	3,621,000	-5,935,000	4,767,000	1,084,000	-4,050,000	11,199,000	-5,713,000	7,873,000	4,314,000	1,069,000	-155,000	4,959,000	455,000	658,000	-4,587,000	-291,000	-2,053,000	-1,785,000	44,000	4,398,000	-851,000	995,000
net cash from operating activities	29,544,000	-526,000	37,990,000	19,264,000	21,644,000	-12,140,000	22,006,000	22,242,000	34,846,000	-8,873,000	14,660,000	10,021,000	32,994,000	-10,659,000	13,696,000	16,510,000	12,756,000	1,871,000	11,146,000	22,956,000	25,277,000	6,038,000	7,277,000	21,338,000	6,466,000	-18,603,000	983,000	4,363,000	-3,512,000	-8,076,000	-973,000	-4,930,000						-5,021,000					15,880,000	13,064,000	-3,962,000	4,115,000	4,942,000	16,814,584			702	-12,150,431	12,189,000	12,229,000	9,490,000	6,781,000		12,203,000	3,698,000
capital expenditures	-2,142,000	-2,269,000	-2,016,000	-2,101,000	-1,865,000	-1,818,000	-2,842,000	-1,957,000	-2,377,000	-1,731,000	-1,481,000	-1,194,000	-1,499,000	-1,212,000	-1,829,000	-2,720,000	-1,608,000	-1,964,000	-1,931,000	-1,070,000	-1,055,000	-1,363,000	-578,000	-774,000	-1,504,000	-1,330,000	-1,154,000	-1,795,000	-1,414,000	-1,575,000	-1,477,000	-1,117,000						-2,321,000					0	0	0	0	0	0			0	0	0	0	0	0		0	0
free cash flows	27,402,000	-2,795,000	35,974,000	17,163,000	19,779,000	-13,958,000	19,164,000	20,285,000	32,469,000	-10,604,000	13,179,000	8,827,000	31,495,000	-11,871,000	11,867,000	13,790,000	11,148,000	-93,000	9,215,000	21,886,000	24,222,000	4,675,000	6,699,000	20,564,000	4,962,000	-19,933,000	-171,000	2,568,000	-4,926,000	-9,651,000	-2,450,000	-6,047,000						-7,342,000					15,880,000	13,064,000	-3,962,000	4,115,000	4,942,000	16,814,584			702	-12,150,431	12,189,000	12,229,000	9,490,000	6,781,000		12,203,000	3,698,000
investing activities
cash paid for business acquisitions, net of cash acquired				-213,000				0
purchases of property and equipment, including capitalized software	-2,142,000	-2,269,000	-2,016,000	-2,101,000	-1,865,000	-1,818,000	-2,842,000	-1,957,000	-2,377,000	-1,731,000	-1,481,000	-1,194,000	-1,499,000	-1,212,000	-1,829,000	-2,720,000	-1,608,000	-1,964,000	-1,931,000	-1,070,000	-1,055,000	-1,363,000	-578,000	-774,000	-1,504,000	-1,330,000	-1,154,000	-1,795,000	-1,414,000	-1,575,000	-1,477,000	-1,117,000	-632,000	-948,000	-1,595,000	-2,251,000	-1,638,000	-2,321,000
purchase of short-term investments	0	-2,971,000	-2,803,000	-2,919,000	-2,627,000	-10,671,000	0	0	105,000	-2,369,000	-2,434,000	-1,907,000	-1,849,000	-1,847,000																-10,000,000	-10,000,000
maturities of short-term investments	2,712,000	2,717,000	2,725,000	2,735,000	2,596,000	2,086,000	4,273,000	1,902,000	0	1,986,000													0	10,000,000	15,000,000	30,000,000	20,000,000	20,000,000
other investing activities	43,000	70,000	-13,000	177,000	31,000	-5,000	-6,000	0	29,000	31,000	10,000	7,000	7,000	44,000
net cash from investing activities	613,000	-2,453,000	-2,103,000	-2,321,000	-8,152,000	-10,408,000	1,533,000	-55,000	-15,508,000	-2,083,000	-1,982,000	-3,094,000	-3,341,000	-3,015,000	-3,651,000				-1,904,000	2,480,000	-734,000	-846,000	-292,000	9,231,000	13,493,000	6,215,000	-1,022,000	-1,713,000	-1,423,000	-11,556,000	-25,162,000	-10,955,000	29,000	-966,000	-1,636,000	-2,288,000	-1,672,000	-2,328,000																-8,500,000			4,055,000
financing activities
common stock repurchases	-40,000	-1,473,000	-16,101,000	0	0	-79,000	0	-379,000	-7,879,000	-1,168,000	0	-4,235,000	-9,764,000	-7,199,000
taxes paid associated with net settlement of stock compensation awards	-4,588,000	-1,168,000	-637,000	-265,000	-3,958,000	-883,000	-799,000	-89,000	-1,141,000	-225,000	-202,000	-324,000	-492,000	-244,000	-905,000	-92,000	-958,000	-851,000	-370,000	-343,000	-3,144,000	-58,000	-30,000	-6,000	-60,000	-498,000
payments of the principal portion of finance lease liabilities	-29,000	-26,000	-27,000	-26,000	-25,000	-24,000	-17,000	-16,000	-30,000	-26,000	-26,000	-25,000	-25,000	-25,000	-24,000	-24,000	-24,000	-27,000	-7,000	-18,000	-8,000	-9,000	-8,000	-9,000	-9,000	-8,000
proceeds from exercise of stock options, net of tax	152,000	737,000		0	78,000	114,000		1,000	0	127,000		0	0	496,000
net cash from financing activities	-4,505,000	-1,930,000	-16,745,000	-291,000	-3,905,000	-872,000	-346,000	-483,000	-9,050,000	-1,292,000	-228,000	-4,584,000	-10,281,000	-6,972,000	-929,000				-15,285,000	-359,000	-15,038,000	-3,973,000	-3,946,000	-13,000	-1,237,000	-504,000	417,000	5,000	116,000	8,000	392,000	0										-96,000	-62,000	234,000		-881,000	3,351,000					-8,879,711	8,899,000	6,425,000	5,415,000	119,000
effect of exchange rate differences on cash and cash equivalents	-144,000	102,000	-140,000	467,000	199,000	-1,106,000	-279,000	-26,000	-211,000	524,000	-316,000	221,000	45,000	690,000	-1,280,000	-717,000	1,000	-23,000	-288,000	-24,000	264,000	589,000	268,000	357,000	-1,089,000	578,000	-295,000	-163,000	228,000	-311,000	780,000	-381,000	-156,000	-112,000	635,000	12,000	153,000	-282,000	200,000						508,000	-687,000	767,000	64,476					1,000	-3,000												56,000	18,000	129,000	-16,000	167,000
net increase in cash and cash equivalents											12,134,000				7,836,000	4,022,000	-7,057,000	-15,014,000	-6,331,000	25,053,000	9,769,000	1,808,000	3,307,000			-12,314,000	83,000	2,492,000	-4,591,000	-19,935,000			2,911,000	2,418,000	-19,587,000	-2,175,000			12,337,000			9,957,000	12,009,000	11,624,000		275,000	6,382,000							10,151,000	34,836,000	5,147,000													4,341,000	-3,331,000
cash and cash equivalents at beginning of period	0	174,607,000		0	0	153,226,000		0	0	110,281,000		0	0	96,122,000		0	0	106,335,000		0	0	76,036,000		0	0	36,497,000		0	0	58,448,000		0	0	94,348,000		0	0	134,513,000	0	0	95,465,000	0	0	62,598,000	0	0	95,109,000	104,677,218	-104,677,218	104,782,000	0	-128,959,911	129,089,000	0	0	43,378,000		0	33,538,000		-1,000	51,954,000			39,954,000			54,359,000
cash and cash equivalents at end of period	25,508,000	169,800,000		17,119,000	9,786,000	128,700,000		21,678,000	10,077,000	98,557,000		2,564,000	19,417,000	76,166,000		4,022,000	-7,057,000	91,321,000		25,053,000	9,769,000	77,844,000		30,913,000	17,633,000	24,183,000		2,492,000	-4,591,000	38,513,000		-16,266,000	2,911,000	96,766,000		-2,175,000	-10,804,000	126,914,000	12,337,000	32,076,000	85,452,000	9,957,000	12,009,000	74,222,000	-44,818,000	275,000	101,491,000	63,269,802	-45,834,802	45,892,000	-20,131	-68,694,244	68,799,000	10,151,000	34,836,000	48,525,000	9,291,000	19,098,000	23,140,000	5,250,000	-1,242,000	35,446,000	10,178,000	-6,079,000	46,523,000	-12,863,000	6,995,000	42,971,000		-3,331,000
supplemental disclosure of cash flow information
cash paid for income taxes	2,517,000	2,961,000	2,241,000	1,814,000	4,454,000	692,000	900,000	340,000	587,000	-117,000	615,000	436,000	380,000	159,000		242,000	378,000	-28,000		399,000	300,000	208,000		26,000	168,000	9,000		314,000	526,000	32,000		295,000	254,000	251,000		-1,124,000	402,000	-209,000			237,000	3,916,000	1,864,000	589,000	3,676,000	11,513,000	1,461,000	12,210,507	-83,507	94,000	9,316	-76,555	79,000	855,000	4,810,000	567,000	3,423,000	5,609,000	463,000	4,232,000	2,091,000	805,000	2,245,000	4,628,000	2,511,000	624,000	3,817,000	1,143,000	1,568,000	1,161,000
non-cash: common stock surrendered in the exercise of stock options	37,000	67,000	0	0	28,000	19,000					9,000	173,000				0	0	100,000	0	0	1,671,000	-169,000
non-cash: acquisition consideration paid in common stock			0	0
non-cash: cash not yet paid for business acquisitions
net decrease in cash and cash equivalents		-4,807,000		17,119,000	9,786,000	-24,526,000		21,678,000	10,077,000	-11,724,000			19,417,000	-19,956,000																								-7,599,000
impairment of long-lived and other non-current assets			0
loss on disposal of property and equipment															15,000				-7,000	43,000																																													4,000				12,000	0
other liabilities											-29,000	1,000	-9,000	-120,000	55,000	28,000	-1,000	-805,000	-15,000	-13,000	-24,000	-238,000	661,000	1,965,000	-1,368,000	-75,000	-95,000	-79,000	96,000	-239,000	22,000	-292,000	-294,000	-78,000	3,533,000	-98,000	-183,000	-381,000			3,000							198,462	-966,462	967,000	-39	-710,833	711,000									174,000			36,000			885,000
cash paid for business acquisition, net of cash acquired															0	0	-101,000	-11,063,000
proceeds from exercise of common stock options, net of tax
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
change in fair value of earn-out liability															-4,500,000	-11,500,000
gain on disposal of lease assets
payments of debt issuance costs
payment of earn-out liability related to business acquisition
proceeds from note receivable
gain on termination of lease																0	-35,000	-205,000
payment for debt issuance cost
non-cash: earn-out liability for acquisition activity
non-cash: earnout liability for acquisition activity																-15,000,000	-7,400,000	26,900,000
distributions payable																							0	0	0	-1,675,000	-152,000	220,000	86,000	-607,000	-111,000	-336,000	187,000	-693,000	-6,849,000	5,192,000	49,000	2,967,000
deferred tax provision																1,820,000	709,000	881,000		32,000	32,000	32,000		-134,000	262,000	100,000		0	61,000	20,000
impairment of long-lived and other assets																0
prepaid and deferred taxes																227,000	-38,000	35,000		0	-151,000	208,000		318,000	-792,000	-77,000	-858,000	93,000	-257,000	211,000	542,000	223,000	25,000	-51,000	-626,000	1,409,000	-44,000	-9,000	-703,000				874,000	290,000
increase in intangibles																-11,000	-7,000	-1,000	-10,000	-2,000	-16,000	-5,000	-9,000	-5,000	-28,000	-20,000	-3,000	-6,000	-9,000	-5,000	-12,000	-4,000	-1,000	-18,000	-41,000	-37,000	-34,000	-7,000
proceeds from sales of property and equipment																25,000	10,000	7,000		33,000	21,000	14,000		11,000	24,000	12,000		88,000	0	24,000		166,000
proceeds from promissory note																				3,519,000	316,000	508,000		-1,000	1,000	2,553,000
payment of debt issuance costs																0
proceeds from exercise of stock options																				2,000	154,000	197,000		2,000	32,000	2,000
payment of earnout liability related to business acquisition																							0	0
common stock repurchased																-5,449,000	-17,035,000	-2,963,000		0	-12,040,000	-4,103,000
net cash used by investing activities																	-1,706,000	-13,021,000
net cash used by financing activities																	-18,108,000	-3,841,000
proceeds from sale of property and equipment
proceeds from exercise of common stock options																											461,000	5,000	116,000	8,000	392,000	0			-1,000	14,000	47,000	32,000				0	36,000	71,000	1,775,000	1,762,000	469,000	1,393,496	-208,496	209,000	4,071	-4,000,049	4,010,000	5,471,000	5,184,000	2,396,000	941,000	503,000	76,000											99,000
cash paid (received for) for income taxes, net of refunds
adjustments to reconcile net loss to net cash from operating activities:
change in fair value of earnout liability																							0	0	0	200,000	1,200,000	900,000	1,300,000	100,000
purchases of short-term investments																								0	0	-25,000,000		-20,000,000
impairment of long-lived assets
(gain) on disposal of property and equipment																						-1,000
net loss																							5,447,000	213,000	-4,238,000	-5,196,000	-5,227,000	-4,649,000	-4,362,000	-5,022,000	-1,043,000	-3,705,000	-5,655,000	-1,212,000	-13,967,000	-8,615,000	-8,208,000	-8,397,000	-124,000	-850,000	-5,197,000
change in fair value of financial instruments																															0	0	-20,000	110,000	176,000	0	179,000	-928,000
earnout liability for acquisition activity
issuance of common stock for acquisition activity
impairment of goodwill and long-lived assets																																										0	0	96,238,000
incremental tax loss from exercise of common stock options and restricted stock
short-term borrowings
taxes paid associated with net settlement of share-based compensation
cash received for income taxes
provision for inventory allowance																															402,000	251,000	0	1,841,000	2,280,000	3,465,000	3,921,000	715,000							-69,000	0	291,000
deferred tax benefit																																101,000	102,000	-5,017,000
impairment of intangible assets
gain from sale of property and equipment																																-8,000
adjustments to reconcile net loss to net cash (used) provided by operating activities:
adjustment related to the adoption of asu 2016-09																																		-113,000
net cash provided (used) by operating activities																																		3,496,000
business disposition loss
gain on reversal of earnout liability
net cash (used) provided by operating activities																																			-17,387,000	87,000
cash paid in divestiture
incremental tax benefit from exercise of common stock options																																								165,000	48,000		-98,000	163,000	260,000	414,000	2,882,000	6,068,624	-4,999,624	5,005,000	5,850	-4,879,662	4,889,000	954,000	231,000	1,264,000	137,000			19,000	31,000	9,000	15,000			81,000	577,000	123,000
customer payables																																				-3,916,000	-1,044,000	-11,000			583,000				-402,000	2,380,000	239,000		-841,414	842,000		-4,079,774	4,082,000	-1,277,000	2,275,000	2,691,000							-1,534,000	1,927,000	965,000
net cash provided (used) by financing activities																																				14,000	47,000	32,000
incremental tax loss from exercise of common stock options
accrued expenses and other																																							5,041,000						-13,909,000						3,741				-1,929,000	2,553,000	-113,000	1,925,000	2,758,000	5,115,000									-3,397,000	2,266,000
profit-sharing distributions payable																																														178,000	159,000								3,735,000	776,000							-1,495,000	-583,000	3,174,000		2,206,000	450,000	795,000	-1,955,000
net cash (used) provided by financing activities
provision (benefit) for inventory allowance																																								191,000	1,208,000
net cash provided by operating activities																																																																3,824,000	7,254,000			2,732,000		2,005,000
purchases of property and equipment
cash (received) paid for income taxes
net cash (used in) provided by operating activities
net cash (used in) provided by financing activities
net (decrease) increase in cash and cash equivalents
net (loss) income
gain on earn out liability
(benefit) provision for inventory allowance
incremental tax loss (benefit) from exercise of common stock options
repurchases of common stock
adjustments to reconcile net income to net cash provided by operating activities:
acquisition earn out payables																																														86,000	89,000
increase in goodwill and intangibles
gain on early extinguishment of debt
loss on earn out liability
increase in goodwill and intangibles and cash paid for acquisitions
repayment of notes payable
payment of acquisition contingent liabilities
cash paid for interest																																																2,026,977	-2,008,977	2,011,000	12	-8,960	9,000	9,000	28,000	10,000	6,000	6,000	4,000	13,000	10,000	17,000	11,000	8,000	1,000	1,000	1,000	2,000	3,000	2,000
contingent purchase price accrued																																																23,122,854	-23,122,854	23,146,000	-6,989	-8,176,815	8,185,000	6,989,000	0	4,695,000
inventory allowance
doubtful accounts
note payable issued in connection with acquisition																																																			0	-39,960,000	40,000,000
benefit for inventory allowance
benefit for doubtful accounts
less: discontinued operations, net of tax
income from continuing operations																																																			14,863	-9,098,112	9,126,000
adjustments to reconcile income from continuing operations to net cash from operating activities from continuing operations:
net cash from operating activities from continuing operations																																																			1,054	-12,070,402	12,109,000
net cash from operating activities from discontinued operations																																																					80,000
proceeds from the sale of short-term investments																																																						2,895,000	21,950,000	6,575,000	21,597,000	17,180,000	10,583,000	4,615,000	2,510,000	2,890,000	21,755,000	18,159,000	6,129,000	5,421,000	9,559,000	6,907,000
cash paid for acquisitions and increase in goodwill and intangibles
less: cash and cash equivalents of discontinued operations at end of period																																																			-42	-184,924	185,000
adjustments to reconcile net income to net cash provided by operating activities from continuing operations:
impairment of goodwill
cash paid for acquisitions, net of cash acquired
principal repayments of capital lease obligations and debt
assets acquired under capital leases
net cash used in financing activities
cash and cash equivalents at beginning of the period																																																															0			0				0
net increase (decrease) in cash and cash equivalents																																																															10,178,000	-6,079,000	6,569,000
net (decrease) in cash and cash equivalents
proceeds from exercise of common stock options and warrants																																																												767,000	130,000	52,000	14,000	44,000	49,000	259,000	339,000	150,000
net cash provided by financing activities																																																														56,000	29,000	45,000	5,000
other long-term liabilities																																																															-65,000			14,000				16,000
(decrease) increase in goodwill and intangibles
net proceeds from the issuance of common stock																																																																		-282,000				-29,000
proceeds from the sale of property and equipment																																																																				4,000
cash paid for acquisitions
amortization of debt discount																																																																					-1,000	0
interest expense related to put warrant liability and debt issue costs																																																																					0	0
loss on early extinguishment of debt																																																																					0	0
decrease (increase) in goodwill and intangibles
proceeds from issuance of debt																																																																					71,000	0
repayments of debt
principal repayments of capital lease obligations
provision (benefit) for doubtful accounts
changes in operating assets and liabilities
consignment payables																																																																				646,000	4,486,000	-396,000
net cash provided by (used in) financing activities																																																																				218,000
gain on sale of short-term investments
proceeds from the issuance of common stock
proceeds from exercise of common stock options & warrants
payments to repurchase common stock
net proceeds from the issuance of preferred stock
payments to repurchase preferred stock
dividends and capital distributions
net cash from (used in) financing activities
property and equipment acquired through capital leases
additional purchase consideration

Liquidity Services, Inc(NASDAQ:LQDT)

Liquidity Services, Inc
(NASDAQ:LQDT)