Liquidity services, inc (LQDT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10
Operating activities
Net loss

-4,238

-5,196

-5,227

-4,649

-4,362

-5,022

-1,043

-3,705

-5,655

-1,212

-13,967

-8,615

-8,208

-8,397

-53,755

-124

-850

-5,197

-43,695

1,615

1,381

-64,116

-707

18,373

5,631

7,093

10,409

11,288

12,698

6,709

5,545

14,863

18,762

9,126

3,126

-1,056

5,059

1,383

Less: Discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,684

-7,620

-1,099

-764

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,810

6,564

6,158

2,147

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

1,577

1,572

1,516

1,206

1,165

1,204

1,224

1,020

1,144

1,211

1,568

1,365

1,434

1,429

1,554

1,616

1,660

1,672

1,994

2,044

1,994

3,203

3,663

4,277

4,244

4,411

4,399

4,391

4,387

4,197

3,599

3,497

3,524

3,546

1,544

1,503

1,398

1,249

Stock compensation expense

1,231

1,039

-

-

2,581

1,513

2,463

1,436

1,768

930

1,915

1,563

1,399

2,500

4,019

3,084

2,724

2,420

3,494

3,499

2,810

2,602

3,088

2,950

2,908

3,659

3,150

2,927

2,935

4,367

3,462

3,537

2,493

2,625

2,387

2,221

2,312

2,216

Adjustment related to the adoption of ASU 2016-09

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory adjustment to net realizable value

-

-

-

-

-

-

402

251

0

1,841

2,280

3,465

3,921

715

624

653

191

1,208

4,107

-2,219

-2,415

-48

49

-69

0

291

-13

-376

0

-733

1,660

-736

7

-47

-73

96

122

-167

Provision for doubtful accounts

45

21

-6

58

45

81

8

10

165

16

358

149

-234

84

21

140

8

78

-245

149

1,084

121

7

53

148

-57

-114

-136

14

-121

334

-88

82

-211

91

33

66

31

Deferred tax provision

262

100

55

0

61

20

-6,131

101

102

-5,017

-620

0

0

0

-

-

-

-

15,863

0

0

-22,145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of goodwill and long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51,176

0

0

96,238

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of financial instruments

-

-

-

-

-

-

0

0

20

-110

-176

0

-179

928

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Incremental tax loss from exercise of common stock options and restricted stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

91

-75

165

48

7

96

98

-163

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of property and equipment

13

12

35

-26

-5

11

-9

8

481

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000

-

-

-

-

-

-

-

-

Change in fair value of earnout liability

0

200

1,200

900

1,300

100

100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Incremental tax loss (benefit) from exercise of common stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

260

414

2,882

-

698

371

5,005

1,765

5,850

4,449

4,889

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

68

-734

956

-369

127

1,298

-1,031

-279

-1,132

-4,140

337

-292

1,126

440

1,411

1,912

1,162

-77

-2,358

-4,336

-4,610

-1,347

-2,612

-2,695

-1,364

4,460

1,114

4,461

-1,286

3,177

530

495

2,310

-1,739

-2,194

1,221

2,465

317

Inventory

2,683

-35

-2,717

-4,168

2,563

374

-2,273

2,949

-6,954

-1,842

4,140

-135

-347

-151

2,405

-5,704

4,923

3,152

-613

-13,242

-21,108

-8,138

9,138

-2,320

35,869

6,801

1,538

2,153

3,267

512

-4,383

2,040

-766

3,241

1,693

-3,330

728

1,301

Prepaid and deferred taxes

792

77

858

-93

257

-211

-542

-223

-25

51

626

-1,409

44

9

6,881

703

-37,065

2,424

34,165

5,544

-874

-290

1,131

-6,052

8,135

-385

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

-3,062

725

-1,310

-596

1,753

-1,401

2,627

1,670

1,106

-4,714

2,005

-1,185

977

-773

-1,759

410

540

969

761

920

476

-658

-1,317

-113

1,485

-2,790

4,144

-790

-1,787

-1,541

13,055

-237

-6,396

-6,880

-595

-6,811

-816

407

Operating lease assets and liabilities

77

97

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

9,453

-5,337

1,761

2,163

757

-3,490

-2,495

-2,710

7,465

-1,590

1,156

-802

3,390

-552

1,220

-270

-1,312

594

-5,657

1,431

551

-859

229

-6,132

1,308

4,050

4,258

1,518

-579

1,345

-1,641

-10,020

6,405

-2,314

1,264

1,505

-1,064

-153

Accrued expenses and other current liabilities

-651

-9,409

2,776

-1,549

1,185

-413

2,573

-978

-7,509

-3,662

-1,460

-2,123

-8,377

-2,922

9,244

5,041

4,936

-2,070

1,878

-4,383

-8,856

-7,534

-5,975

-13,909

32,224

-2,681

6,267

-2,589

-1,043

-4,976

-14,446

3,367

7,404

-4,859

4,312

-1,883

860

-3,980

Distributions payable

0

-1,675

-152

220

86

-607

-111

-336

187

-693

-6,849

5,192

49

2,967

208

10

161

-1,169

-174

-2,339

677

-392

1,108

-1,020

178

159

1,502

-1,501

806

-533

1,103

-3,179

-191

-959

1,909

-4,749

3,736

775

Deferred revenue

271

-359

-137

88

322

633

743

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payables to sellers

455

658

-4,587

-291

-2,053

-1,785

44

4,398

-851

995

452

-3,916

-1,044

-11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,255

-2,623

583

-

-12

-7,034

-3,815

9,829

-402

2,380

239

1,458

-6,812

-256

842

2,677

-2,393

-1,856

4,082

-608

-1,413

2,275

2,691

Acquisition earn out payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

86

89

0

-5,254

-2,050

-4,118

-

-

-

-

1,837

0

2,500

-4,695

Other liabilities

-1,368

-75

-95

-79

96

-239

22

-292

-294

-78

3,533

-98

-183

-381

5,417

-55

-82

3

71

-394

-526

-461

1,231

-438

-453

-1,343

-397

-339

-429

967

77

-39

-544

711

-22

146

-58

-67

Net cash used by operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-405

240

57

-631

Net cash used in operating activities

6,466

-18,603

983

4,363

-3,512

-8,076

-973

-4,930

3,026

3,496

-17,387

87

-9,332

-5,021

7,202

13,937

32,997

-8,298

-

-

-

-

-

-

-

-

-

-

-

-207

12,875

702

26,380

12,189

11,386

12,229

9,490

6,781

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,601

15,880

13,064

6,761

-3,962

4,115

4,942

-

-

-

-

-

-

-

-

11,791

11,989

9,433

7,412

Investing activities
Increase in intangibles

28

20

3

6

9

5

12

4

1

18

41

37

34

7

16

11

6

29

125

3

6

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment, including capitalized software

1,504

1,330

1,154

1,795

1,414

1,575

1,477

1,117

632

948

1,595

2,251

1,638

2,321

1,503

1,864

1,295

1,428

1,941

276

3,483

1,612

1,045

1,544

2,272

2,678

1,554

1,388

624

1,897

3,965

769

883

1,176

423

1,426

971

2,002

Proceeds from sales of property and equipment

24

12

135

88

0

24

0

166

662

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from promissory note

1

2,553

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

0

25,000

20,000

20,000

20,000

10,000

10,000

10,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,462

968

1,731

6,131

Maturities of short-term investments

15,000

30,000

20,000

20,000

20,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,392

2,895

21,950

6,575

Cash paid for acquisitions and increase in intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

21

14

14,684

-8,267

23

22

80,018

62

9,001

8

21

Net cash (used in) provided by investing activities

13,493

6,215

-1,022

-1,713

-1,423

-11,556

-25,162

-10,955

29

-966

-1,636

-2,288

-1,672

-2,328

-1,519

-1,875

-1,301

-1,457

-4,438

-279

-3,489

-1,615

-1,147

-1,583

-2,272

-2,678

-1,565

-1,409

-638

-16,581

4,302

-792

-905

-81,194

10,445

-8,500

19,240

-1,579

Financing activities
Payments of the principal portion of finance lease liabilities

9

8

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid associated with net settlement of stock compensation awards

60

498

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,541

Proceeds from exercise of stock options

32

2

461

5

116

8

392

0

12

0

-1

14

47

32

9

0

0

0

-1

0

36

71

140

1,775

1,762

469

1,138

890

295

209

1,469

4,071

5,941

4,010

10,588

5,471

5,184

2,396

Incremental tax loss from exercise of common stock options and restricted stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

249

260

414

2,882

2,514

698

371

5,005

1,765

5,850

4,449

4,889

4,148

954

231

1,264

Incremental tax benefit from exercise of common stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-75

165

48

-

96

98

-163

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-1,237

-504

417

5

116

8

392

0

12

0

-1,199

14

47

32

-82

75

-165

-48

-

-

-

-

-

-

-

-

-

-

-

-

-

-20,078

10,390

8,899

14,736

6,425

5,415

119

Effect of exchange rate differences on cash and cash equivalents

-1,089

578

-

-

228

-311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

39,000

-

-

-

-

-

-

-

-

Payment of acquisition contingent liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,185

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-96

-62

234

389

-39,781

-881

3,351

3,652

1,588

666

-41,971

-

-

-

-

-

-

-

-

Effect of exchange rate differences on cash and cash equivalents

-

-

-

-

-

-

-

-381

-156

-112

-

12

153

-282

-953

200

545

-210

-223

-269

-320

-59

-353

508

-687

767

-223

-459

655

-131

-288

-5

-17

1

-990

-3

691

-174

Net decrease in cash and cash equivalents

17,633

-12,314

83

2,492

-4,591

-19,935

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

2,418

-

-2,175

-10,804

-7,599

4,648

12,337

32,076

-10,013

-723

9,957

12,009

11,624

5,650

-44,818

275

6,382

31,782

6,129

11,306

-58,890

20,123

-20,173

35,848

-60,105

35,577

10,151

34,836

5,147

Supplemental disclosure of cash flow information
Cash paid for income taxes, net

168

9

136

314

526

32

116

295

254

251

138

-1,124

402

-209

35

651

-34,415

-237

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

589

-

3,676

11,513

1,461

4,539

1,728

10,399

94

2,721

9,316

2,366

79

12

856

4,810

567

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

6

12

2,011

65

12

31

9

15

9

28

10

Note payable issued in connection with acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

40,000

-

-

-

-

Contingent purchase price accrued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

340

-5,096

0

23,146

6,242

-6,989

0

8,185

2,294

0

0

4,695