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Side-by-side financial comparison of LIQUIDITY SERVICES INC (LQDT) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
LIQUIDITY SERVICES INC is the larger business by last-quarter revenue ($120.7M vs $78.6M, roughly 1.5× Repay Holdings Corp). LIQUIDITY SERVICES INC runs the higher net margin — 6.2% vs -178.3%, a 184.5% gap on every dollar of revenue. On growth, LIQUIDITY SERVICES INC posted the faster year-over-year revenue change (3.7% vs 0.4%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (13.6% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
LQDT vs RPAY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.7M | $78.6M |
| Net Profit | $7.5M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 8.0% | -182.2% |
| Net Margin | 6.2% | -178.3% |
| Revenue YoY | 3.7% | 0.4% |
| Net Profit YoY | 6.7% | -3304.1% |
| EPS (diluted) | $0.23 | $-1.68 |
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 | $120.7M | — | ||
| Q4 25 | $121.2M | $78.6M | ||
| Q3 25 | $118.1M | $77.7M | ||
| Q2 25 | $119.9M | $75.6M | ||
| Q1 25 | $116.4M | $77.3M | ||
| Q4 24 | $122.3M | $78.3M | ||
| Q3 24 | $106.9M | $79.1M | ||
| Q2 24 | $93.6M | $74.9M |
| Q1 26 | $7.5M | — | ||
| Q4 25 | $7.5M | $-140.1M | ||
| Q3 25 | $7.8M | $-6.4M | ||
| Q2 25 | $7.4M | $-102.3M | ||
| Q1 25 | $7.1M | $-7.9M | ||
| Q4 24 | $5.8M | $-4.1M | ||
| Q3 24 | $6.4M | $3.2M | ||
| Q2 24 | $6.0M | $-4.1M |
| Q1 26 | — | — | ||
| Q4 25 | 47.0% | 74.2% | ||
| Q3 25 | 47.8% | 74.4% | ||
| Q2 25 | 45.7% | 75.7% | ||
| Q1 25 | 40.8% | 75.9% | ||
| Q4 24 | 41.0% | 76.3% | ||
| Q3 24 | 45.6% | 77.8% | ||
| Q2 24 | 52.8% | 78.2% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 7.7% | -182.2% | ||
| Q3 25 | 9.3% | -3.9% | ||
| Q2 25 | 8.5% | -138.7% | ||
| Q1 25 | 5.8% | -4.7% | ||
| Q4 24 | 5.8% | -1.5% | ||
| Q3 24 | 6.8% | -0.9% | ||
| Q2 24 | 8.4% | -4.6% |
| Q1 26 | 6.2% | — | ||
| Q4 25 | 6.2% | -178.3% | ||
| Q3 25 | 6.6% | -8.3% | ||
| Q2 25 | 6.2% | -135.2% | ||
| Q1 25 | 6.1% | -10.3% | ||
| Q4 24 | 4.7% | -5.3% | ||
| Q3 24 | 6.0% | 4.1% | ||
| Q2 24 | 6.4% | -5.4% |
| Q1 26 | $0.23 | — | ||
| Q4 25 | $0.23 | $-1.68 | ||
| Q3 25 | $0.24 | $-0.08 | ||
| Q2 25 | $0.23 | $-1.15 | ||
| Q1 25 | $0.22 | $-0.09 | ||
| Q4 24 | $0.18 | $-0.04 | ||
| Q3 24 | $0.20 | $0.03 | ||
| Q2 24 | $0.19 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $204.0M | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | — | $484.4M |
| Total Assets | $400.4M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $204.0M | — | ||
| Q4 25 | $11.6M | $115.7M | ||
| Q3 25 | $11.2M | $95.7M | ||
| Q2 25 | $11.4M | $162.6M | ||
| Q1 25 | $10.5M | $165.5M | ||
| Q4 24 | $10.4M | $189.5M | ||
| Q3 24 | $2.3M | $168.7M | ||
| Q2 24 | $6.5M | $147.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M |
| Q1 26 | — | — | ||
| Q4 25 | $215.3M | $484.4M | ||
| Q3 25 | $203.2M | $616.9M | ||
| Q2 25 | $208.7M | $633.7M | ||
| Q1 25 | $196.3M | $755.7M | ||
| Q4 24 | $189.2M | $761.3M | ||
| Q3 24 | $182.6M | $754.7M | ||
| Q2 24 | $172.0M | $815.4M |
| Q1 26 | $400.4M | — | ||
| Q4 25 | $369.1M | $1.2B | ||
| Q3 25 | $375.1M | $1.3B | ||
| Q2 25 | $372.4M | $1.4B | ||
| Q1 25 | $358.8M | $1.5B | ||
| Q4 24 | $333.2M | $1.6B | ||
| Q3 24 | $346.9M | $1.6B | ||
| Q2 24 | $325.5M | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $23.2M |
| FCF MarginFCF / Revenue | — | 29.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 3.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.0M | — | ||
| Q4 25 | $-526.0K | $23.3M | ||
| Q3 25 | $38.0M | $32.2M | ||
| Q2 25 | $19.3M | $33.1M | ||
| Q1 25 | $21.6M | $2.5M | ||
| Q4 24 | $-12.1M | $34.3M | ||
| Q3 24 | $22.0M | $60.1M | ||
| Q2 24 | $22.2M | $31.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | $23.2M | ||
| Q3 25 | $36.0M | $32.1M | ||
| Q2 25 | $17.2M | $33.0M | ||
| Q1 25 | $19.8M | $2.4M | ||
| Q4 24 | $-14.0M | $34.0M | ||
| Q3 24 | $19.2M | $59.8M | ||
| Q2 24 | $20.3M | $30.5M |
| Q1 26 | — | — | ||
| Q4 25 | -2.3% | 29.6% | ||
| Q3 25 | 30.5% | 41.3% | ||
| Q2 25 | 14.3% | 43.6% | ||
| Q1 25 | 17.0% | 3.0% | ||
| Q4 24 | -11.4% | 43.5% | ||
| Q3 24 | 17.9% | 75.6% | ||
| Q2 24 | 21.7% | 40.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 0.1% | ||
| Q3 25 | 1.7% | 0.2% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 1.5% | 0.3% | ||
| Q3 24 | 2.7% | 0.3% | ||
| Q2 24 | 2.1% | 0.6% |
| 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 | 3.45× | 18.52× | ||
| Q2 24 | 3.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
