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MIAMI - Miami-Dade County has enhanced its use of online auctions for selling surplus assets, including vehicles, industrial equipment, and office items, through GovDeals, a leading online marketplace for government sales. The auctions are open to the public, with items available for inspection at the Miami-Dade County Store facility weekdays without an appointment.
Since partnering with GovDeals in 2015, Miami-Dade has sold over $36 million worth of surplus through the platform. The online method offers a broader bidding audience, increasing the likelihood of sales, according to Barbara Lopez, Miami-Dade County Property and Materials Supervisor. "Being online opens the bidding process up to a much wider audience than we could reach otherwise, which greatly increases the chances we can sell our surplus," Lopez stated.
GovDeals, a Liquidity Services marketplace (NASDAQ:LQDT), allows government agencies to sell surplus assets transparently. With a market capitalization of $776 million and impressive revenue growth of 36% over the last twelve months, Liquidity Services has established itself as a leader in the online auction space. The platform is designed to simplify the auction process for both buyers and sellers, providing a centralized location for a variety of surplus assets. Michael Price, Vice President of Revenue at GovDeals, expressed pride in the ongoing partnership with Miami-Dade County, emphasizing the platform’s role in accommodating a diverse range of surplus items.
Interested buyers can participate in the auctions by creating an account and completing a free registration on GovDeals. The platform specializes in surplus disposition technology, enabling sellers to manage listings with more control and reduced fees compared to traditional auction methods.
This initiative is part of Miami-Dade County’s efforts to increase efficiency and accessibility in its surplus asset disposition. The information about the auctions and Miami-Dade County’s use of GovDeals is based on a press release statement.
In other recent news, Liquidity Services reported its second-quarter fiscal 2025 earnings, surpassing expectations with an adjusted EPS of $0.31 and revenue of $116.4 million. These figures exceeded analyst forecasts of $0.30 for EPS and $86.29 million for revenue, showcasing the company’s strong operational performance. Liquidity Services also highlighted a 15% growth in consolidated gross merchandise volume (GMV) to $367.4 million, alongside a 27% increase in revenue. The company maintains a strong cash position, with $149 million and no debt, supporting its investments in AI and international expansion.
Despite these positive financial results, broader economic concerns led to a decline in the company’s stock. Analysts noted the potential risks from economic uncertainties and tariff impacts, which could affect future performance. Liquidity Services anticipates sequential growth in the second half of the fiscal year, particularly in its Capital Assets Group (CAG) segment. The company’s outlook for the third quarter includes expected GMV between $395 million and $430 million, with GAAP net income guidance ranging from $6 million to $9 million.
The company’s management emphasized its strategic focus on expanding market presence and service offerings, aiming for a midterm goal of $2 billion in annual GMV. CEO Bill Angrick described Liquidity Services as a "safe harbor" for the retail industry amid economic uncertainty, while CFO Jorge Salaya reported consistent improvement across key profitability metrics. Additionally, the company has been targeting federal government opportunities and expanding its software solutions business, which includes newly integrated features aimed at enhancing its marketplace platform.
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