Liquidity Services (LQDT) 10-Q 5 Aug 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	0-51813
Entity Registrant Name	LIQUIDITY SERVICES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2209244
Entity Address, Address Line One	6931 Arlington Road, Suite 200
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	202
Local Phone Number	467-6868
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	LQDT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		35,440,468
Entity Central Index Key	0001235468
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 112,666	$ 76,036
Accounts receivable, net of allowance for doubtful accounts of $634 and $389	5,470	5,322
Inventory, net	13,799	5,607
Prepaid taxes and tax refund receivable	1,600	1,652
Prepaid expenses and other current assets	5,970	5,962
Total current assets	139,505	94,579
Property and equipment, net of accumulated depreciation of $17,834 and $14,555	17,003	17,843
Operating lease assets	12,008	10,561
Intangible assets, net	3,777	4,758
Goodwill	60,023	59,839
Deferred tax assets	762	806
Other assets	5,325	8,248
Total assets	238,403	196,634
Current liabilities:
Accounts payable	39,748	21,957
Accrued expenses and other current liabilities	22,226	19,124
Current portion of operating lease liabilities	4,081	3,818
Deferred revenue	4,517	3,255
Payables to sellers	39,426	26,170
Total current liabilities	109,998	74,324
Operating lease liabilities	8,872	7,499
Other long-term liabilities	2,972	2,996
Total liabilities	121,842	84,819
Commitments and contingencies (Note 12)	0	0
Stockholders’ equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 35,417,715 shares issued and outstanding at June 30, 2021; 34,082,406 shares issued and outstanding at September 30, 2020	35	34
Additional paid-in capital	251,048	247,892
Treasury stock, at cost; 1,587,199 shares at June 30, 2021 and 547,508 shares at September 30, 2020	(21,628)	(3,983)
Accumulated other comprehensive loss	(8,740)	(9,782)
Accumulated deficit	(104,154)	(122,346)
Total stockholders’ equity	116,561	111,815
Total liabilities and stockholders’ equity	$ 238,403	$ 196,634

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 634	$ 389
Property and equipment, accumulated depreciation	$ 17,834	$ 14,555
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	35,417,715	34,082,406
Common stock, shares outstanding	35,417,715	34,082,406
Treasury stock (in shares)	1,587,199	547,508

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Total revenue	$ 69,666	$ 47,722	$ 187,204	$ 150,050
Costs and expenses from operations:
Cost of goods sold (excludes depreciation and amortization)	28,543	22,494	77,501	73,289
Technology and operations	12,307	9,515	34,952	32,342
Sales and marketing	9,661	7,412	27,679	27,126
General and administrative	7,676	6,217	21,578	21,321
Depreciation and amortization	1,705	1,567	5,246	4,716
Other operating expenses	1,180	319	1,390	500
Total costs and expenses	61,072	47,524	168,346	159,294
Income (loss) from operations	8,594	198	18,858	(9,244)
Interest and other income, net	(254)	(224)	(468)	(733)
Income (loss) before provision for income taxes	8,848	422	19,326	(8,511)
Provision for income taxes	429	209	1,133	710
Net income (loss)	$ 8,419	$ 213	$ 18,193	$ (9,221)
Basic income (loss) per common share (in dollars per share)	$ 0.25	$ 0.01	$ 0.55	$ (0.27)
Diluted income (loss) per common share (in dollars per share)	$ 0.24	$ 0.01	$ 0.52	$ (0.27)
Basic weighted average shares outstanding	33,371,906	33,695,936	33,345,580	33,621,740
Diluted weighted average shares outstanding	35,437,761	33,815,332	35,006,898	33,621,740
Revenue
Total revenue	$ 37,862	$ 30,442	$ 104,902	$ 95,994
Fee revenue
Total revenue	$ 31,804	$ 17,280	$ 82,302	$ 54,056

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8,419	$ 213	$ 18,193	$ (9,221)
Other comprehensive income (loss):
Foreign currency translation	23	424	1,042	(46)
Other comprehensive income (loss)	23	424	1,042	(46)
Comprehensive income (loss)	$ 8,442	$ 637	$ 19,235	$ (9,267)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance (in shares) at Sep. 30, 2019		33,687,115
Balance at Sep. 30, 2019	$ 116,175	$ 34	$ 242,686		$ (7,973)	$ (118,572)
Increase (Decrease) in Stockholders' Equity
Net income	(5,196)					(5,196)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	2		2
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		283,164
Taxes paid associated with net settlement of stock compensation awards (in shares)		(67,688)
Taxes paid associated with net settlement of stock compensation awards	(498)		(498)
Forfeitures of restricted stock awards (in shares)		(15,000)
Balance (in shares) at Dec. 31, 2019		33,887,591
Balance at Dec. 31, 2019	112,437	$ 34	243,311		(7,140)	(123,768)
Balance (in shares) at Sep. 30, 2019		33,687,115
Balance at Sep. 30, 2019	116,175	$ 34	242,686		(7,973)	(118,572)
Increase (Decrease) in Stockholders' Equity
Net income	(9,221)
Common stock surrendered in the exercise of stock options	0
Balance (in shares) at Jun. 30, 2020		34,021,773
Balance at Jun. 30, 2020	110,238	$ 34	246,016		(8,019)	(127,793)
Balance (in shares) at Dec. 31, 2019		33,887,591
Balance at Dec. 31, 2019	112,437	$ 34	243,311		(7,140)	(123,768)
Increase (Decrease) in Stockholders' Equity
Net income	(4,238)					(4,238)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	32		32
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		111,272
Taxes paid associated with net settlement of stock compensation awards (in shares)		(10,065)
Taxes paid associated with net settlement of stock compensation awards	(60)		(60)
Balance (in shares) at Mar. 31, 2020		33,988,798
Balance at Mar. 31, 2020	108,112	$ 34	244,527		(8,443)	(128,006)
Increase (Decrease) in Stockholders' Equity
Net income	213					213
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	1		1
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		34,185
Taxes paid associated with net settlement of stock compensation awards (in shares)		(1,210)
Taxes paid associated with net settlement of stock compensation awards	(6)		(6)
Balance (in shares) at Jun. 30, 2020		34,021,773
Balance at Jun. 30, 2020	110,238	$ 34	246,016		(8,019)	(127,793)
Balance (in shares) at Sep. 30, 2020		34,082,406		547,508
Balance at Sep. 30, 2020	111,815	$ 34	247,892	$ (3,983)	(9,782)	(122,346)
Increase (Decrease) in Stockholders' Equity
Net income	4,514					4,514
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	197		197
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		151,845
Taxes paid associated with net settlement of stock compensation awards (in shares)		(7,703)
Taxes paid associated with net settlement of stock compensation awards	(57)		(57)
Forfeitures of restricted stock awards (in shares)		(13,733)
Common stock repurchased (in shares)				(309,496)
Common stock repurchased	(4,103)			$ (4,103)
Common stock surrendered in the exercise of stock options (in shares)				(9,384)
Common stock surrendered in the exercise of stock options	0		169	$ (169)
Stock compensation expense	1,801		1,801
Foreign currency translation	896				896
Balance (in shares) at Dec. 31, 2020		34,212,815		866,388
Balance at Dec. 31, 2020	115,063	$ 34	250,002	$ (8,255)	(8,886)	(117,832)
Balance (in shares) at Sep. 30, 2020		34,082,406		547,508
Balance at Sep. 30, 2020	$ 111,815	$ 34	247,892	$ (3,983)	(9,782)	(122,346)
Increase (Decrease) in Stockholders' Equity
Common stock repurchased (in shares)	(957,079)
Common stock repurchased	$ (16,100)
Balance (in shares) at Mar. 31, 2021		35,115,307		1,587,199
Balance at Mar. 31, 2021	106,938	$ 35	249,866	$ (21,628)	(8,763)	(112,572)
Balance (in shares) at Sep. 30, 2020		34,082,406		547,508
Balance at Sep. 30, 2020	111,815	$ 34	247,892	$ (3,983)	(9,782)	(122,346)
Increase (Decrease) in Stockholders' Equity
Net income	$ 18,193
Common stock surrendered in the exercise of stock options (in shares)	(82,612)
Common stock surrendered in the exercise of stock options	$ 1,502
Balance (in shares) at Jun. 30, 2021		35,417,715		1,587,199
Balance at Jun. 30, 2021	116,561	$ 35	251,048	$ (21,628)	(8,740)	(104,154)
Balance (in shares) at Dec. 31, 2020		34,212,815		866,388
Balance at Dec. 31, 2020	115,063	$ 34	250,002	$ (8,255)	(8,886)	(117,832)
Increase (Decrease) in Stockholders' Equity
Net income	5,260					5,260
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	155	$ 1	154
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		1,079,955
Taxes paid associated with net settlement of stock compensation awards (in shares)		(177,463)
Taxes paid associated with net settlement of stock compensation awards	$ (3,145)		(3,145)
Common stock repurchased (in shares)	(647,583)			(647,583)
Common stock repurchased	$ (12,040)			$ (12,040)
Common stock surrendered in the exercise of stock options (in shares)				(73,228)
Common stock surrendered in the exercise of stock options	0		1,333	$ (1,333)
Stock compensation expense	1,522		1,522
Foreign currency translation	123				123
Balance (in shares) at Mar. 31, 2021		35,115,307		1,587,199
Balance at Mar. 31, 2021	106,938	$ 35	249,866	$ (21,628)	(8,763)	(112,572)
Increase (Decrease) in Stockholders' Equity
Net income	8,419					8,419
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		318,242
Taxes paid associated with net settlement of stock compensation awards (in shares)		(15,834)
Taxes paid associated with net settlement of stock compensation awards	$ (343)		(343)
Common stock repurchased (in shares)	0
Common stock surrendered in the exercise of stock options (in shares)	0
Stock compensation expense	$ 1,525		1,525
Foreign currency translation	22				23	(1)
Balance (in shares) at Jun. 30, 2021		35,417,715		1,587,199
Balance at Jun. 30, 2021	$ 116,561	$ 35	$ 251,048	$ (21,628)	$ (8,740)	$ (104,154)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income (loss)	$ 18,193	$ (9,221)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,246	4,716
Stock compensation expense	5,793	3,785
Provision for doubtful accounts	269	131
Deferred tax provision	96	228
Loss (gain) on disposal of property and equipment	87	(29)
Change in fair value of earnout liability	0	200
Impairment of long-lived and other assets	1,338	0
Changes in operating assets and liabilities:
Accounts receivable	(420)	1,415
Inventory	(8,192)	(1,572)
Prepaid and deferred taxes	57	(551)
Prepaid expenses and other assets	(2,477)	942
Operating lease assets and liabilities	5	(165)
Accounts payable	17,791	13,951
Accrued expenses and other current liabilities	2,242	(9,525)
Distributions payable	0	(1,675)
Deferred revenue	1,262	(23)
Payables to sellers	13,256	6,072
Other liabilities	(275)	522
Net cash provided by operating activities	54,271	9,201
Investing activities
Increase in intangibles	(23)	(53)
Purchases of property and equipment, including capitalized software	(3,488)	(3,608)
Proceeds from sales of property and equipment	68	47
Proceeds from promissory note	4,343	2,553
Purchases of short-term investments	0	(25,000)
Maturities of short-term investments	0	55,000
Net cash provided by investing activities	900	28,939
Financing activities
Payments of the principal portion of finance lease liabilities	(35)	(26)
Taxes paid associated with net settlement of stock compensation awards	(3,545)	(564)
Proceeds from exercise of stock options	353	36
Payment of earnout liability related to business acquisition	0	(1,200)
Common stock repurchased	(16,143)	0
Net cash (used in) financing activities	(19,370)	(1,754)
Effect of exchange rate differences on cash and cash equivalents	829	(154)
Net increase in cash and cash equivalents	36,630	36,232
Cash and cash equivalents at beginning of period	76,036	36,497
Cash and cash equivalents at end of period	112,666	72,729
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	907	203
Common stock surrendered in the exercise of stock options	$ 1,502	$ 0

Organization

Organization	9 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Liquidity Services, Inc. (the Company) operates a network of e-commerce marketplaces that power the circular economy which benefits businesses, society, and the environment through the safe and effective resale and redeployment of surplus assets; reducing waste, carbon emissions and transportation costs; and by creating markets for items that would otherwise be landfilled. The Company's marketplaces enable buyers and sellers to transact in an efficient, automated environment offering over 600 product categories and provide professional buyers access to a global, organized supply of new, surplus and idle assets presented with digital images and other relevant product information. The Company's marketplaces enable corporate and government sellers to enhance their financial return on offered assets by providing a liquid marketplace and value-added services that encompass the consultative management, valuation and sale of surplus assets. The Company's services include program management, valuation, asset management, reconciliation, refurbishment and recycling, fulfillment, marketing and sales, warehousing and transportation, buyer support, compliance and risk mitigation, as well as self-directed service tools for its sellers. The Company organizes the products on its marketplaces into categories across major industry verticals such as consumer electronics, general merchandise, apparel, scientific equipment, aerospace parts and equipment, technology hardware, energy equipment, industrial capital assets, heavy equipment, fleet and transportation equipment and specialty equipment. The Company’s marketplaces are: www.allsurplus.com, www.liquidation.com, www.govdeals.com, www.secondipity.com, and www.go-dove.com. The Company also operates a global search engine for listing used machinery and equipment for sale at www.machinio.com. The Company has four reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. See Note 13 for Segment Information. The Company's operations are subject to certain risks and uncertainties, many of which are associated with technology-oriented companies, including, but not limited to, the Company's dependence on use of the Internet; the effect of general business and economic trends, including the extent and duration of travel restrictions and the COVID-19 pandemic's impact on current and future macroeconomic conditions; the Company's susceptibility to rapid technological change; actual and potential competition by entities with greater financial and other resources; and the potential for the commercial sellers from which the Company derives a significant portion of its inventory to change the way they conduct their disposition of surplus assets or to otherwise terminate or not renew their contracts with the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal, recurring adjustments considered necessary for a fair presentation, have been included, and intercompany transactions and accounts have been eliminated in consolidation. The information disclosed in the notes to the consolidated financial statements for these periods is unaudited. Operating results for the three and nine months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending September 30, 2021 or for any future period. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts in the consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2021, these estimates required the Company to make assumptions about the extent and duration of restrictions on cross-border transactions and the impact of the COVID-19 pandemic on macroeconomic conditions and, in turn, the Company's results of operations. As there remains uncertainty associated with the COVID-19 pandemic, the Company will continue to update its assumptions as conditions change. Actual results could differ significantly from those estimates. Contract Assets and Liabilities Contract assets reflect an estimate of expenses that will be reimbursed upon settlement with a seller. The contract asset balance was $0.4 million as of June 30, 2021 and $0.4 million as of September 30, 2020 and is included in the line item Prepaid expenses and other current assets on the Consolidated Balance Sheets. Contract liabilities reflect obligations to provide services for which the Company has already received consideration, and generally arise from up-front payments received in connection with Machinio's subscription services. The contract liability balance was $4.5 million as of June 30, 2021 and $3.3 million as of September 30, 2020 and is included in the line item Deferred revenue on the Consolidated Balance Sheets. Of the September 30, 2020 contract liability balance, $3.0 million was earned as Fee revenue during the nine months ended June 30, 2021. For the Company's Machinio business segment, performance obligations are satisfied over time as the Company provides the services over the term of the subscription. At June 30, 2021, the Machinio business segment had a remaining performance obligation of $4.5 million; the Company expects to recognize the substantial majority of that amount as Fee Revenue over the next 12 months. Contract Costs Contract costs relate to sales commissions paid on subscription contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract. The contract cost balance w as $1.5 million a s of June 30, 2021 and $0.7 million as of September 30, 2020 and is included in the line items Prepaid expenses and other current assets and Other assets on the Consolidated Balance Sheets. Amortization expense was $0.2 million and $0.5 million during the three and nine months ended June 30, 2021 and was $0.1 million and $0.3 million during the three and nine months ended June 30, 2020. Other Assets - Promissory Note On September 30, 2015, the Company sold certain assets related to its Jacobs Trading business to Tanager Acquisitions, LLC (Tanager). In connection with the disposition, Tanager assumed certain liabilities related to the Jacobs Trading business. Tanager issued a $12.3 million five-year interest-bearing promissory note to the Company. On October 10, 2019, the Company entered into a Forbearance Agreement and Amendment to Note, Security Agreement and Guaranty Agreement (the "Forbearance Agreement") with Tanager (now known as Jacobs Trading, LLC) and certain of its affiliates (collectively, "JTC"). In exchange for additional collateral, security, and a higher interest rate, the Company granted JTC a new repayment schedule that requires quarterly payments to be made from August 2020 to August 2023. Upon execution of the Forbearance Agreement, JTC repaid $2.5 million in principal, plus $0.4 million in accrued interest. As of March 31, 2021, JTC had repaid $7.7 million of the $12.3 million owed to the Company and had an outstanding principal balance of $4.6 million. On May 12, 2021, the Company entered into the First Amendment to the Forbearance Agreement with JTC, providing JTC with full satisfaction and discharge from its indebtedness upon receipt of a $3.5 million payment made on May 17, 2021. As a result, the Company recorded a $1.1 million loss as component of Other operating expenses in its Consolidated Statement of Operations during the three and nine months ended June 30, 2021, representing the difference between the $4.6 million outstanding balance of principal and accrued interest and the $3.5 million payment received. Risk Associated with Certain Concentrations For the majority of buyers that receive goods before payment to the Company is made, credit evaluations are performed. However, for the remaining buyers, goods are not shipped before payment is made, and as a result the Company is not subject to significant collection risk from those buyers. For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf. The funds are included in Cash and cash equivalents on the Consolidated Balance Sheets. The Company releases the funds to the seller, less the Company's commission and other fees due, through Accounts payable after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash in banks and cash equivalent money market funds in accounts which may at times exceed federally insured limits (FDIC and/or SIPC), and Accounts receivable. The Company deposits its cash and acquires cash equivalent money market funds with financial institutions that the Company considers to be of high credit quality. Additionally, the Company has multiple vendor contracts with Amazon.com, Inc. under which the Company acquires and sells commercial merchandise. The property purchased under these contracts with Amazon.com, Inc. represented 63.5% and 60.4% of consolidated Cost of goods sold for the three months ended June 30, 2021 and 2020, respectively, and 61.7% and 54.5% of consolidated Cost of goods sold for the nine months ended June 30, 2021 and 2020, respectively. These contracts are included within the RSCG segment. Recent Accounting Pronouncements Accounting Standards Adopted On October 1, 2020, the Company adopted ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . This accounting standard has not had a material impact on the Company's consolidated financial statements as no significant implementations of cloud computing arrangements have occurred since adoption. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) , or ASC 326. ASC 326, including all amendments and related guidance, was designed to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit. ASC 326 will require estimation of expected credit losses using a methodology that takes into consideration a broad range of reasonable and supportable information. The guidance will be effective for the Company beginning on October 1, 2023 and will be applied on a modified-retrospective basis, with any cumulative-effect adjustment recorded to retained earnings on the adoption date. The Company is in the process of evaluating the impact ASC 326 will have on its consolidated financial statements and expects to estimate credit losses on its financial assets such as its Accounts receivable and money market funds. While the Company has not experienced significant credit losses historically, the materiality of the impact of adoption will depend on events and conditions as of the date of adoption, which cannot be determined conclusively at this time. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes . ASU 2019-12 seeks to improve the consistent application of, and simplify the guidance for, the accounting for income taxes. The ASU removes certain exceptions to the general principals in ASC 740, Income Taxes

Earnings per Share

Earnings per Share	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The calculation of diluted net income per share excludes all anti-dilutive common shares. The computation of basic and diluted net income per share is as follows: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Numerator: Net income (loss) $ 8,419 $ 213 $ 18,193 $ (9,221) Denominator: Basic weighted average shares outstanding 33,371,906 33,695,936 33,345,580 33,621,740 Dilutive impact of stock options, RSUs and RSAs 2,065,855 119,396 1,661,318 — Diluted weighted average shares outstanding 35,437,761 33,815,332 35,006,898 33,621,740 Basic income (loss) per common share $ 0.25 $ 0.01 $ 0.55 $ (0.27) Diluted income (loss) per common share $ 0.24 $ 0.01 $ 0.52 $ (0.27) Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive 198,308 3,841,385 592,588 4,829,473

Leases

Leases	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases The Company has operating leases for its corporate offices, warehouses, vehicles and equipment. The operating leases have remaining terms of up t o 5.0 years . Some of the leases have options to extend or terminate the leases. The exercise of such options is generally at the Company’s discretion. The lease agreements do not contain any significant residual value guarantees or restrictive covenants. The Company also subleases excess corporate office space. The Company's finance leases and related balances are not significant. The components of lease expense are: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Finance lease – lease asset amortization $ 18 $ 16 $ 50 $ 53 Finance lease – interest on lease liabilities 4 6 14 18 Operating lease cost 1,218 1,310 3,873 3,990 Operating lease impairment expense — — 172 — Short-term lease cost 45 48 166 92 Variable lease cost (1) 360 371 1,178 1,122 Sublease income (34) (61) (141) (200) Total net lease cost $ 1,611 $ 1,690 $ 5,312 $ 5,075 (1) Variable lease costs primarily relate to the Company's election to combine non-lease components such as common area maintenance, insurance and taxes related to its real estate leases. To a lesser extent, the Company's equipment leases have variable costs associated with usage and subsequent changes to costs based upon an index. Maturities of lease liabilities are: June 30, 2021 (in thousands) Operating Leases Finance Leases 2021 $ 1,284 $ 26 2022 4,509 103 2023 3,602 103 2024 2,501 83 2025 1,852 55 Thereafter 822 50 Total lease payments (1) $ 14,570 $ 420 Less: imputed interest (2) (1,617) (59) Total lease liabilities $ 12,953 $ 361 (1) The weighted average remaini ng lease term is 3.6 years for operating leases and 4.4 years for finance leases. (2) The weighted average discount rate is 6.6% for operating leases and 7.0% for finance leases. Additionally, the Company has approximately $4.8 million of future payment obligations related to executed warehouse lease agreements that have not yet commenced as of June 30, 2021. Supplemental disclosures of cash flow information related to leases are: Nine Months Ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in operating lease liabilities $ 3,225 $ 3,642 Cash paid for amounts included in finance lease liabilities 35 26 Non-cash: lease liabilities arising from new operating lease assets obtained (1) 885 12,188 Non-cash: lease liabilities arising from new finance lease assets obtained 130 10 Non-cash: adjustments to lease assets and liabilities 3,705 1,592 (1) Nine months ended June 30, 2020 amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019.
Leases	Leases The Company has operating leases for its corporate offices, warehouses, vehicles and equipment. The operating leases have remaining terms of up t o 5.0 years . Some of the leases have options to extend or terminate the leases. The exercise of such options is generally at the Company’s discretion. The lease agreements do not contain any significant residual value guarantees or restrictive covenants. The Company also subleases excess corporate office space. The Company's finance leases and related balances are not significant. The components of lease expense are: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Finance lease – lease asset amortization $ 18 $ 16 $ 50 $ 53 Finance lease – interest on lease liabilities 4 6 14 18 Operating lease cost 1,218 1,310 3,873 3,990 Operating lease impairment expense — — 172 — Short-term lease cost 45 48 166 92 Variable lease cost (1) 360 371 1,178 1,122 Sublease income (34) (61) (141) (200) Total net lease cost $ 1,611 $ 1,690 $ 5,312 $ 5,075 (1) Variable lease costs primarily relate to the Company's election to combine non-lease components such as common area maintenance, insurance and taxes related to its real estate leases. To a lesser extent, the Company's equipment leases have variable costs associated with usage and subsequent changes to costs based upon an index. Maturities of lease liabilities are: June 30, 2021 (in thousands) Operating Leases Finance Leases 2021 $ 1,284 $ 26 2022 4,509 103 2023 3,602 103 2024 2,501 83 2025 1,852 55 Thereafter 822 50 Total lease payments (1) $ 14,570 $ 420 Less: imputed interest (2) (1,617) (59) Total lease liabilities $ 12,953 $ 361 (1) The weighted average remaini ng lease term is 3.6 years for operating leases and 4.4 years for finance leases. (2) The weighted average discount rate is 6.6% for operating leases and 7.0% for finance leases. Additionally, the Company has approximately $4.8 million of future payment obligations related to executed warehouse lease agreements that have not yet commenced as of June 30, 2021. Supplemental disclosures of cash flow information related to leases are: Nine Months Ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in operating lease liabilities $ 3,225 $ 3,642 Cash paid for amounts included in finance lease liabilities 35 26 Non-cash: lease liabilities arising from new operating lease assets obtained (1) 885 12,188 Non-cash: lease liabilities arising from new finance lease assets obtained 130 10 Non-cash: adjustments to lease assets and liabilities 3,705 1,592 (1) Nine months ended June 30, 2020 amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019.

Goodwill

Goodwill	9 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The carrying value and changes in the carrying value of goodwill attributable to each reportable segment were as follows: (in thousands) CAG GovDeals Machinio Total Balance at September 30, 2019 $ 21,178 $ 23,731 $ 14,558 $ 59,467 Translation adjustments 372 — — 372 Balance at September 30, 2020 $ 21,550 $ 23,731 $ 14,558 $ 59,839 Translation adjustments 184 — — 184 Balance at June 30, 2021 $ 21,734 $ 23,731 $ 14,558 $ 60,023

Intangible Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Intangible Assets	Intangible Assets Intangible assets consist of the following: June 30, 2021 September 30, 2020 (dollars in thousands) Useful Gross Accumulated Net Gross Accumulated Net Contract intangibles 6 $ 3,100 $ (1,550) $ 1,550 $ 3,100 $ (1,162) $ 1,938 Technology 5 2,700 (1,620) 1,080 2,700 (1,215) 1,485 Patent and trademarks 7 - 10 2,350 (1,203) 1,147 2,329 (994) 1,335 Total intangible assets $ 8,150 $ (4,373) $ 3,777 $ 8,129 $ (3,371) $ 4,758 Future expected amortization of intangible assets at June 30, 2021, is as follows: (in thousands) Expected Amortization Expense Years ending September 30, Remainder of 2021 $ 333 2022 1,330 2023 1,186 2024 648 2025 280 Total $ 3,777 Intangible asset amortization expense was $0.3 million and $0.3 million for the three months ended June 30, 2021 and 2020, respectively, and $1.0 million and $1.0 million for the nine months ended June 30, 2021 and 2020, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s interim effective income tax rate is based on management’s best current estimate of the Company's expected annual effective income tax rate. The Company recorded pre-tax income in the first nine months of fiscal year 2021 and its corresponding effective tax rate is 5.9% compared to (8.4%) for the first nine months of fiscal year 2020. The change in the effective tax rate for the nine months ended June 30, 2021 as compared to the same period in the prior year was primarily due to state and foreign taxes. Tax expense in the nine months ended June 30, 2021 is due to state and foreign taxes paid. The effective tax rate differed from the U.S. statutory federal rate of 21% primarily as a result of the utilization of net operating losses and the impact of foreign, state, and local income taxes and permanent tax adjustments. The Company applies the authoritative guidance related to uncertainty in income taxes. ASC Topic 740, Income Taxes , states that a benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, on the basis of technical merits. The Company identified no new uncertain tax positions during the nine months ended June 30, 2021. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions and in foreign jurisdictions, primarily Canada and the United Kingdom. As of June 30, 2021, none of the Company's federal or state income tax returns are under examination, however, we remain subject to examination for certain of our foreign income tax returns. The Company has no open income tax examinations in the U.S. and the statute of limitations for years prior to 2018 is now closed. However, certain tax attribute carryforwards that were generated prior to fiscal year 2018 may be adjusted upon examination by tax authorities if they are utilized. On March 27, 2020, The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, accelerates the recovery of alternative minimum tax (AMT) credits into fiscal year 2020. During fiscal year 2020, the Company recovered its full AMT refund of $1.7 million. Prior to the CARES Act, the Company’s AMT credits were recoverable in fiscal years 2021 through 2023. The CARES Act also permits net operating loss (NOL) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The changes in stockholders’ equity for the prior year comparable period is as follows: Common Stock (dollars in thousands) Shares Amount Additional Accumulated Accumulated Total Balance at September 30, 2019 33,687,115 $ 34 $ 242,686 $ (7,973) $ (118,572) $ 116,175 Net loss — — — — (5,196) (5,196) Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 283,164 — 2 — — 2 Taxes paid associated with net settlement of stock compensation awards (67,688) — (498) — — (498) Forfeitures of restricted stock awards (15,000) — — — — — Stock compensation expense — — 1,121 — — 1,121 Foreign currency translation — — — 833 — 833 Balance at December 31, 2019 33,887,591 $ 34 $ 243,311 $ (7,140) $ (123,768) $ 112,437 Net loss — — — — (4,238) (4,238) Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 111,272 — 32 — — 32 Taxes paid associated with net settlement of stock compensation awards (10,065) — (60) — — (60) Stock compensation expense — — 1,244 — — 1,244 Foreign currency translation — — — (1,303) — (1,303) Balance at March 31, 2020 33,988,798 $ 34 $ 244,527 $ (8,443) $ (128,006) $ 108,112 Net income — — — — 213 213 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 34,185 — 1 — — 1 Taxes paid associated with net settlement of stock compensation awards (1,210) — (6) — — (6) Stock compensation expense — — 1,494 — — 1,494 Foreign currency translation and other — — — 424 — 424 Balance at June 30, 2020 34,021,773 $ 34 $ 246,016 $ (8,019) $ (127,793) $ 110,238 Stock Compensation Incentive Plans The Company has several incentive plans under which stock options, restricted stock units (RSUs), restricted stock awards (RSAs), and cash-settled stock appreciation rights (SARs) have been issued, including the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan, as amended, and a plan and private placement issuances related to the Company’s acquisition of Machinio. As of June 30, 2021, the Company has reserved at total of 19,100,000 shares of its common stock for exercises of stock options, vesting of RSUs, and grants of RSAs under these plans. Vesting of RSUs and grants of RSAs count as 1.5x shares against the plan reserves. As of June 30, 2021, 1,901,415 shares of common stock remained available for use. Stock Compensation Expense The table below presents the components of share-based compensation expense (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Equity-classified awards: Stock options $ 762 $ 546 $ 2,491 $ 1,523 RSUs & RSAs 763 948 2,357 2,337 Total equity-classified awards $ 1,525 $ 1,494 $ 4,848 $ 3,860 Liability-classified awards: SARs 278 22 945 (75) Total stock compensation expense: $ 1,803 $ 1,516 $ 5,793 $ 3,785 Stock Options and RSUs & RSAs The following table presents stock option and RSUs & RSAs grant activity: Nine Months Ended June 30, 2021 Stock Options granted: Options containing only service conditions: 558,673 Weighted average exercise price $ 10.69 Weighted average grant date fair value $ 4.49 Options containing performance or market conditions: 549,600 Weighted average exercise price $ 10.51 Weighted average grant date fair value $ 4.34 RSUs & RSAs granted: RSUs & RSAs containing only service conditions: 139,945 Weighted average grant date fair value $ 13.48 RSUs & RSAs containing performance or market conditions: 139,600 Weighted average grant date fair value $ 9.22 The stock options and RSUs & RSAs containing only service conditions will vest over a four-year service period. The stock options and RSUs & RSAs containing performance conditions will vest upon the achievement of specified financial targets of the Company or its segments. The stock options and RSUs & RSAs containing market conditions will vest upon the achievement of specified increases in the Company’s share price. Vesting is measured the first day of each fiscal quarter over the four-year terms of the awards, starting with the first fiscal quarter after the first anniversary of the grant date, based upon the trailing 20-days average of the Company’s share price. The range of assumptions used to determine the fair value of stock options containing only service conditions using the Black-Sc holes option-pricing model during the nine months ended June 30, 2021 were as follows: Nine Months Ended June 30, 2021 Dividend yield — Expected volatility 51.0% - 55.9% Risk-free interest rate 0.4% - 0.8% Expected term 4.6 - 7.6 years The range of assumptions used to determine the fair value of stock options and RSUs & RSAs containing market conditions using Monte Carlo simulations during the nine months ended June 30, 2021 were as follows: Nine Months Ended June 30, 2021 Dividend yield — Expected volatility 51.6% - 54.6% Risk-free interest rate 0.3% - 0.9% Expected holding period (% of remaining term) 31.7% - 100.0% SARs During the nine months ended June 30, 2021, the Company did not issue any SARs, 43,959 SARs were exercised requiring the Company to make cash payments of $0.4 million, and 73,681 SARs were canceled. As of June 30, 2021 , 43,170 SARs were outstanding. Share Repurchase Program We are authorized to repurchase issued and outstanding shares of our common stock under a share repurchase program approved by our Board of Directors. Share repurchases may be made through open market purchases, privately negotiated transactions or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The repurchase program may be discontinued or suspended at any time and will be funded using our available cash. As of the fiscal year ended September 30, 2020, we had $6.1 million of remaining share repurchase authorization. On March 8, 2021, our Board of Directors authorized an additional $10 million of share repurchases of the Company's outstanding shares of common stock through March 31, 2023. We repurchased 647,583 shares for $12.0 million and 957,079 shares for $16.1 million under this program during the three and six months ended March 31, 2021 , respectively. As of March 31, 2021 , we had no remaining authorization to repurchase shares under these programs. On May 3, 2021, the Company's Board of Directors authorized a new stock repurchase plan (the “May 3, 2021 Stock Repurchase Plan”) of up to $15 million of our outstanding shares of common stock through June 30, 2023. We made no repurchases under the May 3, 2021 Stock Repurchase Plan during the three months ended June 30, 2021. Other Share Repurchases Separate from the share repurchase program, our stock incentive plans allow for participants to exercise stock options by surrendering shares of common stock equivalent in value to the exercise price due. During the three months ended June 30, 2021, no shares of common stock were surrendered by participants in the exercise of stock options. During the nine months ended June 30, 2021, participants surrendered 82,612 shares of common stock in the exercise of stock options . Any shares surrendered to the Company in this manner are not available for future grant.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The Company measures and records certain assets and liabilities at fair value on a recurring basis. Authoritative guidance issued by the FASB establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Inputs other than Level 1 inputs that are either directly or indirectly observable; and Level 3: Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use. The Company had $40.0 million of money market funds considered cash equivalents at June 30, 2021 and September 30, 2020. These assets were measured at fair value at June 30, 2021 and September 30, 2020 and were classified as Level 1 assets within the fair value hierarchy. There were no transfers between levels during the periods presented. The Company’s financial assets and liabilities not measured at fair value are cash, accounts receivable, and accounts payable. The Company believes the carrying values of these assets and liabilities approximate fair value.

Defined Benefit Pension Plan

Defined Benefit Pension Plan	9 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Defined Benefit Pension Plan	Defined Benefit Pension Plan Certain employees of Liquidity Services UK Limited (GoIndustry), which the Company acquired in July 2012, are covered by the Henry Butcher Pension Fund and Life Assurance Scheme (the Scheme), a qualified defined benefit pension plan. The Company guarantees GoIndustry's performance on all present and future obligations to make payments to the Scheme for up to a maximum of £10 million British pounds. The Scheme was closed to new members on January 1, 2002. The net periodic (benefit) is recognized within Interest and other income, net in the Consolidated Statements of Operations, and for the three and nine months ended June 30, 2021 and 2020 included the following components: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Interest cost $ 142 $ 119 $ 343 $ 336 Expected return on plan assets (245) (192) (637) (595) Amortization of prior service cost 6 5 17 15 Total net periodic (benefit) $ (97) $ (68) $ (277) $ (244)

Business Realignment Expenses

Business Realignment Expenses	9 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Business Realignment Expenses	Business Realignment Expenses Business realignment expenses are associated with management changes, exiting certain businesses, or other cost saving actions, and include employee severance and benefit costs associated with terminations, occupancy costs associated the ceased use of facilities, and other related costs, such as impairments. Business realignment expenses are recorded as a component of Other operating expenses on the Consolidated Statements of Operations. For the year ended September 30, 2020, business realignment expenses were incurred related to the elimination of certain employee positions in response to the COVID-19 pandemic. The table below sets forth the significant components and activity in the liability for business realignment initiatives, on a segment and consolidated basis: (in thousands) Liability Balance at September 30, 2019 Adoption of ASC 842 Business Cash Liability Balance at September 30, 2020 Business Cash Liability Balance at June 30, 2021 Employee severance and benefit costs: GovDeals $ — $ — $ 29 $ (25) $ 4 $ — $ (4) $ — RCSG — — 84 (64) 20 — (20) — CAG 414 — 120 (481) 53 5 (58) — Corporate & Other 238 — 172 (410) — — — — Total employee severance and benefit costs $ 652 $ — $ 405 $ (980) $ 77 $ 5 $ (82) $ — Occupancy and other costs: CAG 169 (169) — — — — — — Corporate & Other — — — — — — — — Total occupancy and other costs $ 169 $ (169) $ — $ — $ — $ — $ — $ — Total business realignment $ 821 $ (169) $ 405 $ (980) $ 77 $ 5 $ (82) $ —

Legal Proceedings and Other Con

Legal Proceedings and Other Contingencies	9 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Other Contingencies	Legal Proceedings and Other Contingencies The Company reserves for contingent liabilities based on ASC 450, Contingencies, when it determines that a liability is probable and reasonably estimable. From time to time, the Company may become involved in litigation relating to claims arising in the ordinary course of the business. On December 22, 2020, the Company’s former Vice President, Human Resources (the “Plaintiff”) filed a claim with the Equal Employment Opportunity Commission for wrongful termination on the basis of gender, race, and age. The Equal Employment Opportunity Commission subsequently assigned Plaintiff’s claim to the Montgomery County Office of Human Rights for investigation, which, in turn, dismissed Plaintiff’s claim after plaintiff filed a complaint in the United States District Court for the District of Maryland Southern Division on May 19, 2021. The Company believes this claim is without merit and cannot estimate a range of potential liability, if any, at this time. The Company’s employment practices liability insurance carrier, CNA, has accepted tender of this claim. Separately, Plaintiff also alleged outside of the above process wage and hour violations under Maryland law for failure to pay his fiscal year 2020 performance bonus. The parties settled the wage and hour claims for an immaterial amount in May 2021. Unless otherwise noted, there are no claims or actions pending or threatened against the Company that, if adversely determined, would in the Company's management's judgment have a material adverse effect on the Company.

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company provides operating results in four reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Asset Group (CAG), and Machinio. Descriptions of our reportable segments are as follows: • The GovDeals reportable segment provides self-directed service solutions in which sellers list their own assets, and it consists of marketplaces that enable local and state government entities including city, county and state agencies, as well as quasi-governmental businesses located in the United States and Canada to sell surplus and salvage assets. GovDeals also offers a suite of services to sellers that includes asset sales and marketing. • The RSCG reportable segment consists of marketplaces that enable corporations located in the United States and Canada to sell surplus and salvage consumer goods and retail capital assets. RSCG also offers a suite of services that includes returns management, asset recovery, and e-commerce services. This segment includes the Company's Liquidation.com, Liquidation.com DIRECT, and Secondipity marketplaces. • The CAG reportable segment provides full-service solutions to sellers and it consists of marketplaces that enable commercial businesses to sell surplus and idle assets. CAG also offers a suite of services that includes surplus management, asset valuation, asset sales and marketing. Commercial sellers are located in the United States, Europe, Australia and Asia. This segment includes the Company's GoIndustry DoveBid marketplace and self-directed and full-service solutions for commercial businesses on the AllSurplus marketplace. • The Machinio reportable segment operates a global online platform for listing used equipment for sale in the construction, machine tool, transportation, printing and agriculture sectors. We also report results of Corporate & Other, including elimination adjustments. Decisions concerning the allocation of the Company’s resources are made by the Company’s Chief Operating Decision Maker (CODM), which is the Company's Chief Executive Officer, with oversight by the Board of Directors. The Company reports segment information based on the internal performance measures used by the CODM to assess the performance of each operating segment in a given period. In connection with that assessment, the CODM uses segment gross profit to evaluate the performance of each segment. Segment gross profit is calculated as total revenue less cost of goods sold (excludes depreciation and amortization). The following table sets forth certain financial information for the Company's reportable segments: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 GovDeals: Revenue $ — $ — $ — $ — Fee revenue 14,658 6,021 36,448 21,858 Total revenue 14,658 6,021 36,448 21,858 Gross profit $ 13,965 $ 5,637 $ 34,544 $ 20,361 RSCG: Revenue $ 35,923 $ 29,454 $ 95,997 $ 89,857 Fee revenue 8,172 4,099 22,086 11,650 Total revenue 44,095 33,553 118,083 101,507 Gross profit $ 17,755 $ 12,022 $ 48,315 $ 34,721 CAG: Revenue $ 1,939 $ 988 $ 8,905 $ 6,137 Fee revenue 6,528 5,384 16,967 15,216 Total revenue 8,467 6,372 25,872 21,353 Gross profit $ 7,099 $ 5,892 $ 20,445 $ 16,628 Machinio: Revenue $ — $ — $ — $ — Fee revenue 2,446 1,776 6,801 5,332 Total revenue 2,446 1,776 6,801 5,332 Gross Profit $ 2,304 $ 1,677 $ 6,399 $ 5,051 Corporate & Other, including elimination adjustments: Revenue $ — $ — $ — $ — Fee revenue — — — — Total revenue — — — — Gross profit $ — $ — $ — $ — Consolidated: Revenue $ 37,862 $ 30,442 $ 104,902 $ 95,994 Fee revenue 31,804 17,280 82,302 54,056 Total revenue 69,666 47,722 187,204 150,050 Gross profit $ 41,123 $ 25,228 $ 109,703 $ 76,761 The following table reconciles gross profit used in the reportable segments to the Company's consolidated results: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Reconciliation: Gross profit $ 41,123 $ 25,228 $ 109,703 $ 76,761 Operating expenses 31,349 24,711 89,455 85,505 Other operating expenses 1,180 319 1,390 500 Interest and other income, net (254) (224) (468) (733) Income (loss) before provision for income taxes $ 8,848 $ 422 $ 19,326 $ (8,511) The percent of our revenues that came from transactions conducted outside of the United States for the three months ended June 30, 2021 and 2020 was 14.4% and 11.2%, respectively, and the percent of our revenues that came from transactions conducted outside the United States for the nine months ended June 30, 2021 and 2020

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts in the consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2021, these estimates required the Company to make assumptions about the extent and duration of restrictions on cross-border transactions and the impact of the COVID-19 pandemic on macroeconomic conditions and, in turn, the Company's results of operations. As there remains uncertainty associated with the COVID-19 pandemic, the Company will continue to update its assumptions as conditions change. Actual results could differ significantly from those estimates.
Contract Assets and Liabilities; Contract Costs	Contract Assets and Liabilities Contract assets reflect an estimate of expenses that will be reimbursed upon settlement with a seller. The contract asset balance was $0.4 million as of June 30, 2021 and $0.4 million as of September 30, 2020 and is included in the line item Prepaid expenses and other current assets on the Consolidated Balance Sheets. Contract liabilities reflect obligations to provide services for which the Company has already received consideration, and generally arise from up-front payments received in connection with Machinio's subscription services. The contract liability balance was $4.5 million as of June 30, 2021 and $3.3 million as of September 30, 2020 and is included in the line item Deferred revenue on the Consolidated Balance Sheets. Of the September 30, 2020 contract liability balance, $3.0 million was earned as Fee revenue during the nine months ended June 30, 2021. For the Company's Machinio business segment, performance obligations are satisfied over time as the Company provides the services over the term of the subscription. At June 30, 2021, the Machinio business segment had a remaining performance obligation of $4.5 million; the Company expects to recognize the substantial majority of that amount as Fee Revenue over the next 12 months. Contract Costs Contract costs relate to sales commissions paid on subscription contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract. The contract cost balance w as $1.5 million a s of June 30, 2021 and $0.7 million as of September 30, 2020 and is included in the line items Prepaid expenses and other current assets and Other assets on the Consolidated Balance Sheets. Amortization expense was $0.2 million and $0.5 million during the three and nine months ended June 30, 2021
Other Assets - Promissory Note	Other Assets - Promissory Note On September 30, 2015, the Company sold certain assets related to its Jacobs Trading business to Tanager Acquisitions, LLC (Tanager). In connection with the disposition, Tanager assumed certain liabilities related to the Jacobs Trading business. Tanager issued a $12.3 million five-year interest-bearing promissory note to the Company. On October 10, 2019, the Company entered into a Forbearance Agreement and Amendment to Note, Security Agreement and Guaranty Agreement (the "Forbearance Agreement") with Tanager (now known as Jacobs Trading, LLC) and certain of its affiliates (collectively, "JTC"). In exchange for additional collateral, security, and a higher interest rate, the Company granted JTC a new repayment schedule that requires quarterly payments to be made from August 2020 to August 2023. Upon execution of the Forbearance Agreement, JTC repaid $2.5 million in principal, plus $0.4 million in accrued interest. As of March 31, 2021, JTC had repaid $7.7 million of the $12.3 million owed to the Company and had an outstanding principal balance of $4.6 million. On May 12, 2021, the Company entered into the First Amendment to the Forbearance Agreement with JTC, providing JTC with full satisfaction and discharge from its indebtedness upon receipt of a $3.5 million payment made on May 17, 2021. As a result, the Company recorded a $1.1 million loss as component of Other operating expenses in its Consolidated Statement of Operations during the three and nine months ended June 30, 2021, representing the difference between the $4.6 million outstanding balance of principal and accrued interest and the $3.5 million payment received.
Risk Associated with Certain Concentrations	Risk Associated with Certain Concentrations For the majority of buyers that receive goods before payment to the Company is made, credit evaluations are performed. However, for the remaining buyers, goods are not shipped before payment is made, and as a result the Company is not subject to significant collection risk from those buyers. For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf. The funds are included in Cash and cash equivalents on the Consolidated Balance Sheets. The Company releases the funds to the seller, less the Company's commission and other fees due, through Accounts payable after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash in banks and cash equivalent money market funds in accounts which may at times exceed federally insured limits (FDIC and/or SIPC), and Accounts receivable. The Company deposits its cash and acquires cash equivalent money market funds with financial institutions that the Company considers to be of high credit quality.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted On October 1, 2020, the Company adopted ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . This accounting standard has not had a material impact on the Company's consolidated financial statements as no significant implementations of cloud computing arrangements have occurred since adoption. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) , or ASC 326. ASC 326, including all amendments and related guidance, was designed to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit. ASC 326 will require estimation of expected credit losses using a methodology that takes into consideration a broad range of reasonable and supportable information. The guidance will be effective for the Company beginning on October 1, 2023 and will be applied on a modified-retrospective basis, with any cumulative-effect adjustment recorded to retained earnings on the adoption date. The Company is in the process of evaluating the impact ASC 326 will have on its consolidated financial statements and expects to estimate credit losses on its financial assets such as its Accounts receivable and money market funds. While the Company has not experienced significant credit losses historically, the materiality of the impact of adoption will depend on events and conditions as of the date of adoption, which cannot be determined conclusively at this time. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes . ASU 2019-12 seeks to improve the consistent application of, and simplify the guidance for, the accounting for income taxes. The ASU removes certain exceptions to the general principals in ASC 740, Income Taxes

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The computation of basic and diluted net income per share is as follows: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Numerator: Net income (loss) $ 8,419 $ 213 $ 18,193 $ (9,221) Denominator: Basic weighted average shares outstanding 33,371,906 33,695,936 33,345,580 33,621,740 Dilutive impact of stock options, RSUs and RSAs 2,065,855 119,396 1,661,318 — Diluted weighted average shares outstanding 35,437,761 33,815,332 35,006,898 33,621,740 Basic income (loss) per common share $ 0.25 $ 0.01 $ 0.55 $ (0.27) Diluted income (loss) per common share $ 0.24 $ 0.01 $ 0.52 $ (0.27) Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive 198,308 3,841,385 592,588 4,829,473

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Summary of lease expense and supplemental cash flow information	The components of lease expense are: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Finance lease – lease asset amortization $ 18 $ 16 $ 50 $ 53 Finance lease – interest on lease liabilities 4 6 14 18 Operating lease cost 1,218 1,310 3,873 3,990 Operating lease impairment expense — — 172 — Short-term lease cost 45 48 166 92 Variable lease cost (1) 360 371 1,178 1,122 Sublease income (34) (61) (141) (200) Total net lease cost $ 1,611 $ 1,690 $ 5,312 $ 5,075 (1) Variable lease costs primarily relate to the Company's election to combine non-lease components such as common area maintenance, insurance and taxes related to its real estate leases. To a lesser extent, the Company's equipment leases have variable costs associated with usage and subsequent changes to costs based upon an index. Supplemental disclosures of cash flow information related to leases are: Nine Months Ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in operating lease liabilities $ 3,225 $ 3,642 Cash paid for amounts included in finance lease liabilities 35 26 Non-cash: lease liabilities arising from new operating lease assets obtained (1) 885 12,188 Non-cash: lease liabilities arising from new finance lease assets obtained 130 10 Non-cash: adjustments to lease assets and liabilities 3,705 1,592 (1) Nine months ended June 30, 2020 amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019.
Schedule of operating lease maturities	Maturities of lease liabilities are: June 30, 2021 (in thousands) Operating Leases Finance Leases 2021 $ 1,284 $ 26 2022 4,509 103 2023 3,602 103 2024 2,501 83 2025 1,852 55 Thereafter 822 50 Total lease payments (1) $ 14,570 $ 420 Less: imputed interest (2) (1,617) (59) Total lease liabilities $ 12,953 $ 361 (1) The weighted average remaini ng lease term is 3.6 years for operating leases and 4.4 years for finance leases. (2) The weighted average discount rate is 6.6% for operating leases and 7.0% for finance leases.
Schedule of finance lease maturities	Maturities of lease liabilities are: June 30, 2021 (in thousands) Operating Leases Finance Leases 2021 $ 1,284 $ 26 2022 4,509 103 2023 3,602 103 2024 2,501 83 2025 1,852 55 Thereafter 822 50 Total lease payments (1) $ 14,570 $ 420 Less: imputed interest (2) (1,617) (59) Total lease liabilities $ 12,953 $ 361 (1) The weighted average remaini ng lease term is 3.6 years for operating leases and 4.4 years for finance leases. (2) The weighted average discount rate is 6.6% for operating leases and 7.0% for finance leases.

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of goodwill activity	The carrying value and changes in the carrying value of goodwill attributable to each reportable segment were as follows: (in thousands) CAG GovDeals Machinio Total Balance at September 30, 2019 $ 21,178 $ 23,731 $ 14,558 $ 59,467 Translation adjustments 372 — — 372 Balance at September 30, 2020 $ 21,550 $ 23,731 $ 14,558 $ 59,839 Translation adjustments 184 — — 184 Balance at June 30, 2021 $ 21,734 $ 23,731 $ 14,558 $ 60,023

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of intangible assets	June 30, 2021 September 30, 2020 (dollars in thousands) Useful Gross Accumulated Net Gross Accumulated Net Contract intangibles 6 $ 3,100 $ (1,550) $ 1,550 $ 3,100 $ (1,162) $ 1,938 Technology 5 2,700 (1,620) 1,080 2,700 (1,215) 1,485 Patent and trademarks 7 - 10 2,350 (1,203) 1,147 2,329 (994) 1,335 Total intangible assets $ 8,150 $ (4,373) $ 3,777 $ 8,129 $ (3,371) $ 4,758
Schedule of future expected amortization of intangible assets	Future expected amortization of intangible assets at June 30, 2021, is as follows: (in thousands) Expected Amortization Expense Years ending September 30, Remainder of 2021 $ 333 2022 1,330 2023 1,186 2024 648 2025 280 Total $ 3,777

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of stockholders' equity	The changes in stockholders’ equity for the prior year comparable period is as follows: Common Stock (dollars in thousands) Shares Amount Additional Accumulated Accumulated Total Balance at September 30, 2019 33,687,115 $ 34 $ 242,686 $ (7,973) $ (118,572) $ 116,175 Net loss — — — — (5,196) (5,196) Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 283,164 — 2 — — 2 Taxes paid associated with net settlement of stock compensation awards (67,688) — (498) — — (498) Forfeitures of restricted stock awards (15,000) — — — — — Stock compensation expense — — 1,121 — — 1,121 Foreign currency translation — — — 833 — 833 Balance at December 31, 2019 33,887,591 $ 34 $ 243,311 $ (7,140) $ (123,768) $ 112,437 Net loss — — — — (4,238) (4,238) Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 111,272 — 32 — — 32 Taxes paid associated with net settlement of stock compensation awards (10,065) — (60) — — (60) Stock compensation expense — — 1,244 — — 1,244 Foreign currency translation — — — (1,303) — (1,303) Balance at March 31, 2020 33,988,798 $ 34 $ 244,527 $ (8,443) $ (128,006) $ 108,112 Net income — — — — 213 213 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 34,185 — 1 — — 1 Taxes paid associated with net settlement of stock compensation awards (1,210) — (6) — — (6) Stock compensation expense — — 1,494 — — 1,494 Foreign currency translation and other — — — 424 — 424 Balance at June 30, 2020 34,021,773 $ 34 $ 246,016 $ (8,019) $ (127,793) $ 110,238
Share-based payment arrangement, expensed and capitalized, amount	The table below presents the components of share-based compensation expense (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Equity-classified awards: Stock options $ 762 $ 546 $ 2,491 $ 1,523 RSUs & RSAs 763 948 2,357 2,337 Total equity-classified awards $ 1,525 $ 1,494 $ 4,848 $ 3,860 Liability-classified awards: SARs 278 22 945 (75) Total stock compensation expense: $ 1,803 $ 1,516 $ 5,793 $ 3,785
Summary of stock options and restricted stock granted	The following table presents stock option and RSUs & RSAs grant activity: Nine Months Ended June 30, 2021 Stock Options granted: Options containing only service conditions: 558,673 Weighted average exercise price $ 10.69 Weighted average grant date fair value $ 4.49 Options containing performance or market conditions: 549,600 Weighted average exercise price $ 10.51 Weighted average grant date fair value $ 4.34 RSUs & RSAs granted: RSUs & RSAs containing only service conditions: 139,945 Weighted average grant date fair value $ 13.48 RSUs & RSAs containing performance or market conditions: 139,600 Weighted average grant date fair value $ 9.22
Schedule of share-based payment award, stock options, valuation assumptions	The range of assumptions used to determine the fair value of stock options containing only service conditions using the Black-Sc holes option-pricing model during the nine months ended June 30, 2021 were as follows: Nine Months Ended June 30, 2021 Dividend yield — Expected volatility 51.0% - 55.9% Risk-free interest rate 0.4% - 0.8% Expected term 4.6 - 7.6 years
Schedule of share-based payment award, valuation assumptions	The range of assumptions used to determine the fair value of stock options and RSUs & RSAs containing market conditions using Monte Carlo simulations during the nine months ended June 30, 2021 were as follows: Nine Months Ended June 30, 2021 Dividend yield — Expected volatility 51.6% - 54.6% Risk-free interest rate 0.3% - 0.9% Expected holding period (% of remaining term) 31.7% - 100.0%

Defined Benefit Pension Plan (T

Defined Benefit Pension Plan (Tables)	9 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of net periodic benefit cost recognized	The net periodic (benefit) is recognized within Interest and other income, net in the Consolidated Statements of Operations, and for the three and nine months ended June 30, 2021 and 2020 included the following components: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Interest cost $ 142 $ 119 $ 343 $ 336 Expected return on plan assets (245) (192) (637) (595) Amortization of prior service cost 6 5 17 15 Total net periodic (benefit) $ (97) $ (68) $ (277) $ (244)

Business Realignment Expenses (

Business Realignment Expenses (Tables)	9 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and related costs	The table below sets forth the significant components and activity in the liability for business realignment initiatives, on a segment and consolidated basis: (in thousands) Liability Balance at September 30, 2019 Adoption of ASC 842 Business Cash Liability Balance at September 30, 2020 Business Cash Liability Balance at June 30, 2021 Employee severance and benefit costs: GovDeals $ — $ — $ 29 $ (25) $ 4 $ — $ (4) $ — RCSG — — 84 (64) 20 — (20) — CAG 414 — 120 (481) 53 5 (58) — Corporate & Other 238 — 172 (410) — — — — Total employee severance and benefit costs $ 652 $ — $ 405 $ (980) $ 77 $ 5 $ (82) $ — Occupancy and other costs: CAG 169 (169) — — — — — — Corporate & Other — — — — — — — — Total occupancy and other costs $ 169 $ (169) $ — $ — $ — $ — $ — $ — Total business realignment $ 821 $ (169) $ 405 $ (980) $ 77 $ 5 $ (82) $ —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	The following table sets forth certain financial information for the Company's reportable segments: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 GovDeals: Revenue $ — $ — $ — $ — Fee revenue 14,658 6,021 36,448 21,858 Total revenue 14,658 6,021 36,448 21,858 Gross profit $ 13,965 $ 5,637 $ 34,544 $ 20,361 RSCG: Revenue $ 35,923 $ 29,454 $ 95,997 $ 89,857 Fee revenue 8,172 4,099 22,086 11,650 Total revenue 44,095 33,553 118,083 101,507 Gross profit $ 17,755 $ 12,022 $ 48,315 $ 34,721 CAG: Revenue $ 1,939 $ 988 $ 8,905 $ 6,137 Fee revenue 6,528 5,384 16,967 15,216 Total revenue 8,467 6,372 25,872 21,353 Gross profit $ 7,099 $ 5,892 $ 20,445 $ 16,628 Machinio: Revenue $ — $ — $ — $ — Fee revenue 2,446 1,776 6,801 5,332 Total revenue 2,446 1,776 6,801 5,332 Gross Profit $ 2,304 $ 1,677 $ 6,399 $ 5,051 Corporate & Other, including elimination adjustments: Revenue $ — $ — $ — $ — Fee revenue — — — — Total revenue — — — — Gross profit $ — $ — $ — $ — Consolidated: Revenue $ 37,862 $ 30,442 $ 104,902 $ 95,994 Fee revenue 31,804 17,280 82,302 54,056 Total revenue 69,666 47,722 187,204 150,050 Gross profit $ 41,123 $ 25,228 $ 109,703 $ 76,761
Reconciliation of revenue from segments to consolidated	The following table reconciles gross profit used in the reportable segments to the Company's consolidated results: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2021 2020 2021 2020 Reconciliation: Gross profit $ 41,123 $ 25,228 $ 109,703 $ 76,761 Operating expenses 31,349 24,711 89,455 85,505 Other operating expenses 1,180 319 1,390 500 Interest and other income, net (254) (224) (468) (733) Income (loss) before provision for income taxes $ 8,848 $ 422 $ 19,326 $ (8,511)

Organization (Details)

Organization (Details)	9 Months Ended
	Jun. 30, 2021categorysegment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of product categories offered | category	600
Number of reportable segments | segment	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	May 17, 2021	Oct. 10, 2019	Sep. 30, 2015	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2017
Business Acquisition [Line Items]
Contract asset				$ 400,000		$ 400,000			$ 400,000
Contract liability				4,500,000		4,500,000			3,300,000
Contract liability recognized as revenue						3,000,000
Capitalized contract cost, amortization				200,000	$ 100,000	500,000	$ 300,000
Interest income				254,000	$ 224,000	468,000	$ 733,000
Loss on sale of financing receivable				$ 1,100,000		$ 1,100,000
Cost of Goods | Contract With Commercial Client | Supplier Concentration Risk
Business Acquisition [Line Items]
Concentration risk percentage				63.50%	60.40%	61.70%	54.50%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Business Acquisition [Line Items]
Remaining performance obligation, period				1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | Machinio
Business Acquisition [Line Items]
Remaining performance obligation				$ 4,500,000		$ 4,500,000
Tanager Acquisitions Promissory Note
Business Acquisition [Line Items]
Receivable with imputed interest, face amount			$ 12,300,000							$ 12,300,000
Receivable with imputed interest, term			5 years
Proceeds from collection of notes receivable	$ 3,500,000	$ 2,500,000						$ 7,700,000
Interest income		$ 400,000
Receivable with imputed interest, net amount				4,600,000		4,600,000		$ 4,600,000
Prepaid Expenses and Other Current Assets
Business Acquisition [Line Items]
Contract costs				$ 1,500,000		$ 1,500,000			$ 700,000

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ 8,419	$ 5,260	$ 4,514	$ 213	$ (4,238)	$ (5,196)	$ 18,193	$ (9,221)
Denominator:
Basic weighted average shares outstanding	33,371,906			33,695,936			33,345,580	33,621,740
Dilutive impact of stock options, RSUs and RSAs (in shares)	2,065,855			119,396			1,661,318	0
Diluted weighted average shares outstanding	35,437,761			33,815,332			35,006,898	33,621,740
Basic income (loss) per common share (in dollars per share)	$ 0.25			$ 0.01			$ 0.55	$ (0.27)
Diluted income (loss) per common share (in dollars per share)	$ 0.24			$ 0.01			$ 0.52	$ (0.27)
Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive	198,308			3,841,385			592,588	4,829,473

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	Jun. 30, 2021USD ($)
Lessee, Lease, Description [Line Items]
Lessor, operating lease, lease not yet commenced, assumption and judgment, value of underlying asset, amount	$ 4.8
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Finance lease – lease asset amortization	$ 18	$ 16	$ 50	$ 53
Finance lease – interest on lease liabilities	4	6	14	18
Operating lease cost	1,218	1,310	3,873	3,990
Operating lease impairment expense	0	0	172	0
Short-term lease cost	45	48	166	92
Variable lease cost	360	371	1,178	1,122
Sublease income	(34)	(61)	(141)	(200)
Total net lease cost	$ 1,611	$ 1,690	$ 5,312	$ 5,075

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Operating Leases
2021	$ 1,284
2022	4,509
2023	3,602
2024	2,501
2025	1,852
Thereafter	822
Total lease payments	14,570
Less: imputed interest	(1,617)
Total lease liabilities	12,953
Finance Leases
2021	26
2022	103
2023	103
2024	83
2025	55
Thereafter	50
Total lease payments	420
Less: imputed interest	(59)
Total lease liabilities	$ 361
Operating leases, weighted average remaining lease term	3 years 7 months 6 days
Finance leases, weighted average remaining lease term	4 years 4 months 24 days
Operating leases, weighted average discount rate	6.60%
Finance leases, weighted average discount rate	7.00%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Oct. 01, 2019
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in operating lease liabilities	$ 3,225	$ 3,642
Cash paid for amounts included in finance lease liabilities	35	26
Non-cash: lease liabilities arising from new operating lease assets obtained	885	12,188
Non-cash: lease liabilities arising from new finance lease assets obtained	130	10
Non-cash: adjustments to lease assets and liabilities	3,705	$ 1,592
Total lease liabilities	$ 12,953
ASU 2016-02
Lessee, Lease, Description [Line Items]
Total lease liabilities			$ 12,200

Goodwill - Changes in Goodwill

Goodwill - Changes in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2020
Goodwill
Balance at the beginning of the period	$ 59,839	$ 59,467
Translation adjustments	184	372
Balance at the end of the period	60,023	59,839
CAG
Goodwill
Balance at the beginning of the period	21,550	21,178
Translation adjustments	184	372
Balance at the end of the period	21,734	21,550
GovDeals
Goodwill
Balance at the beginning of the period	23,731	23,731
Translation adjustments	0	0
Balance at the end of the period	23,731	23,731
Machinio
Goodwill
Balance at the beginning of the period	14,558	14,558
Translation adjustments	0	0
Balance at the end of the period	$ 14,558	$ 14,558

Intangible Assets - Carrying Am

Intangible Assets - Carrying Amount (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 8,150	$ 8,129
Accumulated Amortization	(4,373)	(3,371)
Total	$ 3,777	4,758
Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	6 years
Gross Carrying Amount	$ 3,100	3,100
Accumulated Amortization	(1,550)	(1,162)
Total	$ 1,550	1,938
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	5 years
Gross Carrying Amount	$ 2,700	2,700
Accumulated Amortization	(1,620)	(1,215)
Total	1,080	1,485
Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,350	2,329
Accumulated Amortization	(1,203)	(994)
Total	$ 1,147	$ 1,335
Minimum | Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	7 years
Maximum | Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	10 years

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Future expected amortization of intangible assets
Remainder of 2021	$ 333
2022	1,330
2023	1,186
2024	648
2025	280
Total	$ 3,777	$ 4,758

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets, Net [Abstract]
Amortization of intangible assets	$ 0.3	$ 0.3	$ 1	$ 1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	5.90%	8.40%
CARES act, alternative minimum tax, refund			$ 1.7

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Stockholders' Equity
Balance	$ 106,938	$ 115,063	$ 111,815	$ 108,112	$ 112,437	$ 116,175	$ 111,815	$ 116,175
Net income (loss)	8,419	5,260	4,514	213	(4,238)	(5,196)	18,193	(9,221)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units		155	197	1	32	2
Taxes paid associated with net settlement of stock compensation awards	(343)	(3,145)	(57)	(6)	(60)	(498)
Stock compensation expense	1,525			1,494	1,244	1,121	4,848	3,860
Foreign currency translation				424	(1,303)	833
Balance	$ 116,561	$ 106,938	$ 115,063	$ 110,238	$ 108,112	$ 112,437	$ 116,561	$ 110,238
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance (in shares)	35,115,307	34,212,815	34,082,406	33,988,798	33,887,591	33,687,115	34,082,406	33,687,115
Balance	$ 35	$ 34	$ 34	$ 34	$ 34	$ 34	$ 34	$ 34
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)	318,242	1,079,955	151,845	34,185	111,272	283,164
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units		$ 1
Taxes paid associated with net settlement of stock compensation awards (in shares)	(15,834)	(177,463)	(7,703)	(1,210)	(10,065)	(67,688)
Forfeiture of restricted stock awards (in shares)			(13,733)			(15,000)
Balance (in shares)	35,417,715	35,115,307	34,212,815	34,021,773	33,988,798	33,887,591	35,417,715	34,021,773
Balance	$ 35	$ 35	$ 34	$ 34	$ 34	$ 34	$ 35	$ 34
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity
Balance	249,866	250,002	247,892	244,527	243,311	242,686	247,892	242,686
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units		154	197	1	32	2
Taxes paid associated with net settlement of stock compensation awards	(343)	(3,145)	(57)	(6)	(60)	(498)
Stock compensation expense				1,494	1,244	1,121
Balance	251,048	249,866	250,002	246,016	244,527	243,311	251,048	246,016
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance	(8,763)	(8,886)	(9,782)	(8,443)	(7,140)	(7,973)	(9,782)	(7,973)
Foreign currency translation				424	(1,303)	833
Balance	(8,740)	(8,763)	(8,886)	(8,019)	(8,443)	(7,140)	(8,740)	(8,019)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity
Balance	(112,572)	(117,832)	(122,346)	(128,006)	(123,768)	(118,572)	(122,346)	(118,572)
Net income (loss)	8,419	5,260	4,514	213	(4,238)	(5,196)
Balance	$ (104,154)	$ (112,572)	$ (117,832)	$ (127,793)	$ (128,006)	$ (123,768)	$ (104,154)	$ (127,793)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2021	Jun. 30, 2021	May 03, 2021	Mar. 08, 2021	Sep. 30, 2020
Stockholders' Equity
Shares reserved for issuance	19,100,000				19,100,000
Number of shares counted for grants of full value awards from reserve	1.5				1.5
Number of shares available for grant	1,901,415				1,901,415
Amount yet to be expended under the program		$ 0		$ 0		$ 15,000		$ 6,100
Stock repurchase program, authorized amount							$ 10,000
Shares repurchased	0	647,583		957,079
Treasury stock, value, acquired, cost method		$ 12,040	$ 4,103	$ 16,100
Common stock surrendered in the exercise of stock options (in shares)	0				82,612
Restricted Stock - Service Based
Stockholders' Equity
Shares and options vesting period					4 years
Stock Option - Service Based
Stockholders' Equity
Shares and options vesting period					4 years
Stock Option - Market-Based
Stockholders' Equity
Shares and options vesting period					4 years
Restricted Stock - Market Based
Stockholders' Equity
Shares and options vesting period					4 years
SARs
Stockholders' Equity
Shares issued					0
Exercised (in shares)					43,959
Cash paid to settle stock appreciation rights					$ 400
Canceled (in shares)					73,681
Outstanding (in shares)	43,170				43,170

Stockholders' Equity - Stock Ba

Stockholders' Equity - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Stockholders' Equity
Total equity-classified awards	$ 1,525	$ 1,494	$ 1,244	$ 1,121	$ 4,848	$ 3,860
Total stock compensation expense:	1,803	1,516			5,793	3,785
Stock options
Stockholders' Equity
Total equity-classified awards	762	546			2,491	1,523
RSUs & RSAs
Stockholders' Equity
Total equity-classified awards	763	948			2,357	2,337
SARs
Stockholders' Equity
Share-based payment arrangement, expense, liability awards	$ 278	$ 22			$ 945	$ (75)

Stockholders' Equity - Grant Ac

Stockholders' Equity - Grant Activity (Details)	9 Months Ended
	Jun. 30, 2021$ / sharesshares
Stock Option - Service Based
Stock Options granted:
Options granted (in shares) | shares	558,673
Weighted average exercise price (USD per share)	$ 10.69
Weighted average grant date fair value (USD per share)	$ 4.49
Stock Option - Market-Based
Stock Options granted:
Options granted (in shares) | shares	549,600
Weighted average exercise price (USD per share)	$ 10.51
Weighted average grant date fair value (USD per share)	$ 4.34
Restricted Stock - Service Based
RSUs & RSAs granted:
Restricted shares granted (in shares) | shares	139,945
Weighted average grant date fair value (USD per share)	$ 13.48
Restricted Stock - Market Based
RSUs & RSAs granted:
Restricted shares granted (in shares) | shares	139,600
Weighted average grant date fair value (USD per share)	$ 9.22

Stockholders' Equity - Fair Val

Stockholders' Equity - Fair Value (Details)	9 Months Ended
	Jun. 30, 2021
Employee Stock Option
Stockholders' Equity
Dividend yield percentage	0.00%
Expected volatility, minimum percentage	51.00%
Expected volatility, maximum percentage	55.90%
Risk free interest rate, minimum percentage	0.40%
Risk free interest rate, maximum percentage	0.80%
Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Dividend yield percentage	0.00%
Expected volatility, minimum percentage	51.60%
Expected volatility, maximum percentage	54.60%
Risk free interest rate, minimum percentage	0.30%
Risk free interest rate, maximum percentage	0.90%
Minimum | Employee Stock Option
Stockholders' Equity
Expected term	4 years 7 months 6 days
Minimum | Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Expected holding period percentage	31.70%
Maximum | Employee Stock Option
Stockholders' Equity
Expected term	7 years 7 months 6 days
Maximum | Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Expected holding period percentage	100.00%

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 40,000,000	$ 40,000,000
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, net asset (liability)	$ 0	$ 0

Defined Benefit Pension Plan -

Defined Benefit Pension Plan - Narrative (Details)	Jun. 30, 2021GBP (£)
Retirement Benefits [Abstract]
Guarantee obligation value, maximum	£ 10,000,000

Defined Benefit Pension Plan (D

Defined Benefit Pension Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Retirement Benefits [Abstract]
Interest cost	$ 142	$ 119	$ 343	$ 336
Expected return on plan assets	(245)	(192)	(637)	(595)
Amortization of prior service cost	6	5	17	15
Total net periodic (benefit)	$ (97)	$ (68)	$ (277)	$ (244)

Business Realignment Expenses -

Business Realignment Expenses - Restructuring Related Costs (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Beginning balance	$ 77	$ 821
Business Realignment Expenses	5	405
Cash Payments	(82)	(980)
Ending balance	0	$ 77
Accounting Standards Update		ASU 2016-02
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		$ (169)
Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance	77	652
Business Realignment Expenses	5	405
Cash Payments	(82)	(980)
Ending balance	0	77
Employee severance and benefit costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	169
Business Realignment Expenses	0	0
Cash Payments	0	0
Ending balance	0	0
Occupancy and other costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		(169)
Corporate & Other | Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	238
Business Realignment Expenses	0	172
Cash Payments	0	(410)
Ending balance	0	0
Corporate & Other | Employee severance and benefit costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
Corporate & Other | Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Business Realignment Expenses	0	0
Cash Payments	0	0
Ending balance	0	0
Corporate & Other | Occupancy and other costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
GovDeals | Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance	4	0
Business Realignment Expenses	0	29
Cash Payments	(4)	(25)
Ending balance	0	4
GovDeals | Employee severance and benefit costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
RSCG | Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance	20	0
Business Realignment Expenses	0	84
Cash Payments	(20)	(64)
Ending balance	0	20
RSCG | Employee severance and benefit costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
CAG | Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance	53	414
Business Realignment Expenses	5	120
Cash Payments	(58)	(481)
Ending balance	0	53
CAG | Employee severance and benefit costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		0
CAG | Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	169
Business Realignment Expenses	0	0
Cash Payments	0	0
Ending balance	$ 0	0
CAG | Occupancy and other costs | Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units
Restructuring Reserve [Roll Forward]
Adoption of ASC 842		$ (169)

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue, Major Customer [Line Items]
Number of reportable segments			4
Non-US | Sales Revenue | Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk percentage	14.40%	11.20%	16.20%	12.50%

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 69,666	$ 47,722	$ 187,204	$ 150,050
Gross profit	41,123	25,228	109,703	76,761
Operating expenses	31,349	24,711	89,455	85,505
Other operating expenses	1,180	319	1,390	500
Interest and other income, net	(254)	(224)	(468)	(733)
Income (loss) before provision for income taxes	8,848	422	19,326	(8,511)
Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenue	14,658	6,021	36,448	21,858
Gross profit	13,965	5,637	34,544	20,361
Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenue	44,095	33,553	118,083	101,507
Gross profit	17,755	12,022	48,315	34,721
Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenue	8,467	6,372	25,872	21,353
Gross profit	7,099	5,892	20,445	16,628
Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenue	2,446	1,776	6,801	5,332
Gross profit	2,304	1,677	6,399	5,051
Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Gross profit	0	0	0	0
Revenue
Segment Reporting Information [Line Items]
Total revenue	37,862	30,442	104,902	95,994
Revenue | Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Revenue | Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenue	35,923	29,454	95,997	89,857
Revenue | Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenue	1,939	988	8,905	6,137
Revenue | Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Revenue | Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Fee revenue
Segment Reporting Information [Line Items]
Total revenue	31,804	17,280	82,302	54,056
Fee revenue | Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenue	14,658	6,021	36,448	21,858
Fee revenue | Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenue	8,172	4,099	22,086	11,650
Fee revenue | Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenue	6,528	5,384	16,967	15,216
Fee revenue | Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenue	2,446	1,776	6,801	5,332
Fee revenue | Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0