Liquidity Services, Inc. (NASDAQ:LQDT) Q2 2024 Earnings Conference Call May 9, 2024 10:30 AM ET
Company Participants
Michael Patrick - VP & Controller
Bill Angrick - Chairman & CEO
Jorge Celaya - CFO & EVP
Conference Call Participants
Gary Prestopino - Barrington Research Associates
George Sutton - Craig-Hallum
Operator
Welcome to the Liquidity Services Inc. Second Quarter of Fiscal Year 2024 Financial Results Conference Call. My name is Liz, and I will be your operator for today's call. Please note that this conference call is being recorded. [Operator Instructions].
I will now turn the call over to Michael Patrick, Liquidity Services' Vice President and Controller. Take it away.
Michael Patrick
Good morning. On the call today are Bill Angrick, our Chairman and Chief Executive Officer; and Jorge Celaya, our Executive Vice President and Chief Financial Officer. They will be available for questions after their prepared remarks. The following discussion and responses to your questions reflect management's views as of today, May 9, 2024, and we'll include forward-looking statements.
Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and in filings with the SEC, including our most recent annual report on Form 10-K.
As you listen to today's call, please have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter.
During this call, management will discuss certain non-GAAP financial measures. In its press release and filings with the SEC, each of which is posted on our website, you will find additional disclosures regarding these non-GAAP measures, including the reconciliation of these measures with the most comparable GAAP measures as available.
Management also uses certain supplemental operating data as a measure of certain components of operating performance, which we believe is useful for management and investors. This supplemental operating data includes gross merchandise volume and should not be considered a substitute for or superior to GAAP results.
At this time, I will turn the presentation over to our Chairman and CEO, Bill Angrick.
Bill Angrick
Good morning, and welcome to our Q2 earnings call. I'll review our Q2 performance and the progress of our business segments. And next, Jorge Celaya will provide more details on the quarter. Our marketplace platform and services continued to delight customers, fueling double-digit organic revenue and GMV growth year over year.
Our business continues to prove its resilience even against the backdrop of higher interest rates and slowing growth in many sectors of the economy. We are pleased that our balanced investments in sales, operations, and platform automation are being rewarded across our diversified segments with market share expansion and record buyer participation on our platform.