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Side-by-side financial comparison of Bandwidth Inc. (BAND) and LIQUIDITY SERVICES INC (LQDT). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $120.7M, roughly 1.7× LIQUIDITY SERVICES INC). LIQUIDITY SERVICES INC runs the higher net margin — 6.2% vs 1.9%, a 4.3% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 3.7%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (13.6% CAGR vs 9.7%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
BAND vs LQDT — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $120.7M |
| Net Profit | $4.0M | $7.5M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | 8.0% |
| Net Margin | 1.9% | 6.2% |
| Revenue YoY | 20.1% | 3.7% |
| Net Profit YoY | 200.0% | 6.7% |
| EPS (diluted) | $-0.08 | $0.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $208.8M | $120.7M | ||
| Q4 25 | $207.7M | $121.2M | ||
| Q3 25 | $191.9M | $118.1M | ||
| Q2 25 | $180.0M | $119.9M | ||
| Q1 25 | $174.2M | $116.4M | ||
| Q4 24 | $210.0M | $122.3M | ||
| Q3 24 | $193.9M | $106.9M | ||
| Q2 24 | $173.6M | $93.6M |
| Q1 26 | $4.0M | $7.5M | ||
| Q4 25 | — | $7.5M | ||
| Q3 25 | $-1.2M | $7.8M | ||
| Q2 25 | $-4.9M | $7.4M | ||
| Q1 25 | $-3.7M | $7.1M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $413.0K | $6.4M | ||
| Q2 24 | $4.1M | $6.0M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 47.0% | ||
| Q3 25 | 38.5% | 47.8% | ||
| Q2 25 | 39.8% | 45.7% | ||
| Q1 25 | 41.0% | 40.8% | ||
| Q4 24 | 36.4% | 41.0% | ||
| Q3 24 | 37.7% | 45.6% | ||
| Q2 24 | 37.3% | 52.8% |
| Q1 26 | 60.5% | 8.0% | ||
| Q4 25 | -1.9% | 7.7% | ||
| Q3 25 | -1.0% | 9.3% | ||
| Q2 25 | -2.1% | 8.5% | ||
| Q1 25 | -2.7% | 5.8% | ||
| Q4 24 | -1.3% | 5.8% | ||
| Q3 24 | -0.5% | 6.8% | ||
| Q2 24 | -3.5% | 8.4% |
| Q1 26 | 1.9% | 6.2% | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | -0.6% | 6.6% | ||
| Q2 25 | -2.7% | 6.2% | ||
| Q1 25 | -2.1% | 6.1% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | 0.2% | 6.0% | ||
| Q2 24 | 2.3% | 6.4% |
| Q1 26 | $-0.08 | $0.23 | ||
| Q4 25 | $-0.10 | $0.23 | ||
| Q3 25 | $-0.04 | $0.24 | ||
| Q2 25 | $-0.16 | $0.23 | ||
| Q1 25 | $-0.13 | $0.22 | ||
| Q4 24 | $0.27 | $0.18 | ||
| Q3 24 | $0.01 | $0.20 | ||
| Q2 24 | $-0.17 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $204.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | — |
| Total Assets | $984.2M | $400.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | $204.0M | ||
| Q4 25 | $111.3M | $11.6M | ||
| Q3 25 | $80.4M | $11.2M | ||
| Q2 25 | $68.1M | $11.4M | ||
| Q1 25 | $41.7M | $10.5M | ||
| Q4 24 | $83.8M | $10.4M | ||
| Q3 24 | $79.9M | $2.3M | ||
| Q2 24 | $76.4M | $6.5M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $215.3M | ||
| Q3 25 | $392.7M | $203.2M | ||
| Q2 25 | $384.5M | $208.7M | ||
| Q1 25 | $345.4M | $196.3M | ||
| Q4 24 | $312.5M | $189.2M | ||
| Q3 24 | $336.6M | $182.6M | ||
| Q2 24 | $307.4M | $172.0M |
| Q1 26 | $984.2M | $400.4M | ||
| Q4 25 | $1.1B | $369.1M | ||
| Q3 25 | $1.0B | $375.1M | ||
| Q2 25 | $1.0B | $372.4M | ||
| Q1 25 | $964.4M | $358.8M | ||
| Q4 24 | $989.2M | $333.2M | ||
| Q3 24 | $1.0B | $346.9M | ||
| Q2 24 | $1.0B | $325.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $29.0M |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.0M | ||
| Q4 25 | $38.6M | $-526.0K | ||
| Q3 25 | $22.2M | $38.0M | ||
| Q2 25 | $31.7M | $19.3M | ||
| Q1 25 | $-3.1M | $21.6M | ||
| Q4 24 | $36.5M | $-12.1M | ||
| Q3 24 | $20.5M | $22.0M | ||
| Q2 24 | $24.4M | $22.2M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $-2.8M | ||
| Q3 25 | — | $36.0M | ||
| Q2 25 | — | $17.2M | ||
| Q1 25 | — | $19.8M | ||
| Q4 24 | — | $-14.0M | ||
| Q3 24 | — | $19.2M | ||
| Q2 24 | — | $20.3M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | -2.3% | ||
| Q3 25 | — | 30.5% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | -11.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 21.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.1% |
| Q1 26 | — | 3.86× | ||
| Q4 25 | — | -0.07× | ||
| Q3 25 | — | 4.86× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 3.07× | ||
| Q4 24 | — | -2.09× | ||
| Q3 24 | 49.55× | 3.45× | ||
| Q2 24 | 6.03× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
