Liquidity Services (LQDT) 10-Q 4 Aug 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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
Entity Address, Address Line Two	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	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,584,486
Entity Central Index Key	0001235468
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 88,286	$ 106,335
Accounts receivable, net of allowance for doubtful accounts of $383 and $490	8,127	5,866
Inventory, net	14,355	12,468
Prepaid taxes and tax refund receivable	1,489	1,713
Prepaid expenses and other current assets	8,083	5,460
Total current assets	120,340	131,842
Property and equipment, net of accumulated depreciation of $23,018 and $18,558	19,025	17,634
Operating lease assets	14,400	13,478
Intangible assets, net	17,237	3,453
Goodwill	89,247	59,872
Deferred tax assets	16,689	23,822
Other assets	5,872	5,475
Total assets	282,810	255,576
Current liabilities:
Accounts payable	47,206	40,611
Accrued expenses and other current liabilities	24,799	25,975
Current portion of operating lease liabilities	4,644	4,250
Deferred revenue	4,920	4,624
Payables to sellers	45,322	33,713
Total current liabilities	126,891	109,173
Operating lease liabilities	10,836	10,098
Other long-term liabilities	414	1,290
Total liabilities	138,141	120,561
Commitments and contingencies (Note 13)	0	0
Stockholders’ equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 35,576,454 shares issued and outstanding at June 30, 2022; 35,457,095 shares issued and outstanding at September 30, 2021	36	35
Additional paid-in capital	256,572	252,017
Treasury stock, at cost; 3,794,038 shares at June 30, 2022 and 2,222,083 shares at September 30, 2021	(62,176)	(36,628)
Accumulated other comprehensive loss	(10,481)	(9,011)
Accumulated deficit	(39,282)	(71,398)
Total stockholders’ equity	144,669	135,015
Total liabilities and stockholders’ equity	$ 282,810	$ 255,576

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 383	$ 490
Property and equipment, accumulated depreciation	$ 23,018	$ 18,558
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	35,576,454	35,457,095
Common stock, shares outstanding	35,576,454	35,457,095
Treasury shares	3,794,038	2,222,083

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 69,866	$ 69,666	$ 204,848	$ 187,204
Costs and expenses from operations:
Cost of goods sold (excludes depreciation and amortization)	28,932	28,543	85,662	77,501
Technology and operations	13,782	12,307	41,573	34,952
Sales and marketing	10,900	9,661	32,217	27,679
General and administrative	6,389	7,676	21,672	21,578
Depreciation and amortization	2,641	1,705	7,546	5,246
Fair value adjustments of acquisition earn-outs	(11,500)	0	(20,000)	0
Other operating expenses, net	27	1,180	18	1,390
Total costs and expenses	51,171	61,072	168,688	168,346
Income from operations	18,695	8,594	36,160	18,858
Interest and other expenses (income), net	104	(254)	(73)	(468)
Income before provision for income taxes	18,591	8,848	36,233	19,326
Provision for income taxes	2,183	429	4,254	1,133
Net income	$ 16,408	$ 8,419	$ 31,979	$ 18,193
Basic income per common share (in dollars per share)	$ 0.51	$ 0.25	$ 0.98	$ 0.55
Diluted income per common share (in dollars per share)	$ 0.50	$ 0.24	$ 0.94	$ 0.52
Basic weighted average shares outstanding	31,908,864	33,371,906	32,482,326	33,345,580
Diluted weighted average shares outstanding	33,078,568	35,437,761	34,013,233	35,006,898
Purchase revenues
Total revenues	$ 35,507	$ 37,862	$ 109,109	$ 104,902
Consignment and other fee revenues
Total revenues	$ 34,359	$ 31,804	$ 95,739	$ 82,302

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 16,408	$ 8,419	$ 31,979	$ 18,193
Other comprehensive (loss) income:
Foreign currency translation	(1,170)	23	(1,470)	1,042
Other comprehensive (loss) income	(1,170)	23	(1,470)	1,042
Comprehensive income	$ 15,238	$ 8,442	$ 30,509	$ 19,235

Condensed Consolidated Statem_3

Condensed 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, 2020		34,082,406
Balance at Sep. 30, 2020	$ 111,815	$ 34	$ 247,892		$ (9,782)	$ (122,346)
Balance (in shares) at Sep. 30, 2020				(547,508,000)
Balance at Sep. 30, 2020				$ (3,983)
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 (in shares)		151,845
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	197		197
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)				(309,496,000)
Common stock repurchased	(4,103)			$ (4,103)
Common stock surrendered in the exercise of stock options	0		169	$ (169)
Common stock surrendered in the exercise of stock options (in shares)				(9,384,000)
Stock compensation expense	1,801		1,801
Balance (in shares) at Dec. 31, 2020		34,212,815
Balance at Dec. 31, 2020	115,063	$ 34	250,002	$ 8,255	(8,886)	(117,832)
Balance (in shares) at Dec. 31, 2020				866,388,000
Balance (in shares) at Sep. 30, 2020		34,082,406
Balance at Sep. 30, 2020	111,815	$ 34	247,892		(9,782)	(122,346)
Balance (in shares) at Sep. 30, 2020				(547,508,000)
Balance at Sep. 30, 2020				$ (3,983)
Increase (Decrease) in Stockholders' Equity
Net income	$ 18,193
Common stock surrendered in the exercise of stock options (in shares)	(82,612)
Balance (in shares) at Jun. 30, 2021		35,417,715
Balance at Jun. 30, 2021	$ 116,561	$ 35	251,048	$ 21,628	(8,740)	(104,154)
Balance (in shares) at Jun. 30, 2021				1,587,199,000
Balance (in shares) at Dec. 31, 2020		34,212,815
Balance at Dec. 31, 2020	115,063	$ 34	250,002	$ 8,255	(8,886)	(117,832)
Balance (in shares) at Dec. 31, 2020				(866,388,000)
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 (in shares)		1,079,955
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	155	$ 1	154
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)				(647,583,000)
Common stock repurchased	(12,040)			$ (12,040)
Common stock surrendered in the exercise of stock options	0		1,333	$ (1,333)
Common stock surrendered in the exercise of stock options (in shares)				(73,228,000)
Stock compensation expense	1,522		1,522
Balance (in shares) at Mar. 31, 2021		35,115,307
Balance at Mar. 31, 2021	106,938	$ 35	249,866	$ 21,628	(8,763)	(112,572)
Balance (in shares) at Mar. 31, 2021				1,587,199,000
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
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	0		0
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 surrendered in the exercise of stock options (in shares)	0
Stock compensation expense	$ 1,525		1,525
Balance (in shares) at Jun. 30, 2021		35,417,715
Balance at Jun. 30, 2021	$ 116,561	$ 35	251,048	$ 21,628	(8,740)	(104,154)
Balance (in shares) at Jun. 30, 2021				1,587,199,000
Balance (in shares) at Sep. 30, 2021	35,457,095	35,457,095
Balance at Sep. 30, 2021	$ 135,015	$ 35	252,017		(9,011)	(71,398)
Balance (in shares) at Sep. 30, 2021				(2,222,083)
Balance at Sep. 30, 2021				$ (36,628)
Increase (Decrease) in Stockholders' Equity
Net income	3,602					3,602
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		131,070
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	1	$ 1
Taxes paid associated with net settlement of stock compensation awards (in shares)		(40,239)
Taxes paid associated with net settlement of stock compensation awards	(851)		(851)
Forfeitures of restricted stock awards (in shares)		(14,855)
Common stock repurchased (in shares)				(147,185)
Common stock repurchased	(2,963)			$ (2,963)
Common stock surrendered in the exercise of stock options	0		100	$ (100)
Common stock surrendered in the exercise of stock options (in shares)				(4,678)
Stock compensation expense	2,270		2,270
Foreign currency translation and other	5				(131)	136
Balance (in shares) at Dec. 31, 2021		35,533,071
Balance at Dec. 31, 2021	$ 137,079	$ 36	253,536		(9,142)	(67,660)
Balance (in shares) at Dec. 31, 2021				2,373,946
Balance at Dec. 31, 2021				$ 39,691
Balance (in shares) at Sep. 30, 2021	35,457,095	35,457,095
Balance at Sep. 30, 2021	$ 135,015	$ 35	252,017		(9,011)	(71,398)
Balance (in shares) at Sep. 30, 2021				(2,222,083)
Balance at Sep. 30, 2021				$ (36,628)
Balance (in shares) at Mar. 31, 2022		35,563,988
Balance at Mar. 31, 2022	$ 132,989	$ 36	254,680		(9,311)	(55,690)
Balance (in shares) at Mar. 31, 2022				3,385,827
Balance at Mar. 31, 2022				$ 56,726
Balance (in shares) at Sep. 30, 2021	35,457,095	35,457,095
Balance at Sep. 30, 2021	$ 135,015	$ 35	252,017		(9,011)	(71,398)
Balance (in shares) at Sep. 30, 2021				(2,222,083)
Balance at Sep. 30, 2021				$ (36,628)
Increase (Decrease) in Stockholders' Equity
Net income	$ 31,979
Common stock surrendered in the exercise of stock options (in shares)	(4,678)
Balance (in shares) at Jun. 30, 2022	35,576,454	35,576,454
Balance at Jun. 30, 2022	$ 144,669	$ 36	256,572		(10,481)	(39,282)
Balance (in shares) at Jun. 30, 2022				3,794,038
Balance at Jun. 30, 2022				$ 62,176
Balance (in shares) at Dec. 31, 2021		35,533,071
Balance at Dec. 31, 2021	137,079	$ 36	253,536		(9,142)	(67,660)
Balance (in shares) at Dec. 31, 2021				(2,373,946)
Balance at Dec. 31, 2021				$ (39,691)
Increase (Decrease) in Stockholders' Equity
Net income	11,970					11,970
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		320,943
Taxes paid associated with net settlement of stock compensation awards (in shares)		(47,124)
Taxes paid associated with net settlement of stock compensation awards	(958)		(958)
Forfeitures of restricted stock awards (in shares)		(242,902)
Common stock repurchased (in shares)				(1,011,881)
Common stock repurchased	(17,035)			$ (17,035)
Stock compensation expense	2,102		2,102
Foreign currency translation and other	(169)				(169)
Balance (in shares) at Mar. 31, 2022		35,563,988
Balance at Mar. 31, 2022	132,989	$ 36	254,680		(9,311)	(55,690)
Balance (in shares) at Mar. 31, 2022				3,385,827
Balance at Mar. 31, 2022				$ 56,726
Increase (Decrease) in Stockholders' Equity
Net income	16,408					16,408
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		18,373
Taxes paid associated with net settlement of stock compensation awards (in shares)		(5,907)
Taxes paid associated with net settlement of stock compensation awards	(92)		(92)
Common stock repurchased (in shares)				(408,211)
Common stock repurchased	$ (5,450)			$ (5,450)
Common stock surrendered in the exercise of stock options (in shares)	0
Stock compensation expense	$ 1,984		1,984
Foreign currency translation and other	$ (1,170)				(1,170)	0
Balance (in shares) at Jun. 30, 2022	35,576,454	35,576,454
Balance at Jun. 30, 2022	$ 144,669	$ 36	$ 256,572		$ (10,481)	$ (39,282)
Balance (in shares) at Jun. 30, 2022				3,794,038
Balance at Jun. 30, 2022				$ 62,176

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net income	$ 31,979	$ 18,193
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,546	5,246
Stock compensation expense	6,156	5,793
Inventory adjustment to net realizable value	98	0
Provision for doubtful accounts	68	269
Deferred tax provision	3,410	96
(Gain) loss on disposal of property and equipment	(29)	87
Gain on termination of lease	(240)	0
Impairment of long-lived and other assets	31	1,338
Fair value adjustments of acquisition earn-outs	(20,000)	0
Changes in operating assets and liabilities:
Accounts receivable	(2,215)	(420)
Inventory	(1,985)	(8,192)
Prepaid and deferred taxes	224	57
Prepaid expenses and other assets	(2,788)	(2,477)
Operating lease assets and liabilities	451	5
Accounts payable	6,635	17,791
Accrued expenses and other current liabilities	(5,955)	2,242
Deferred revenue	296	1,262
Payables to sellers	8,233	13,256
Other liabilities	(778)	(275)
Net cash provided by operating activities	31,137	54,271
Investing activities
Cash paid for business acquisition, net of cash acquired	(11,164)	0
Purchases of property and equipment, including capitalized software	(6,292)	(3,488)
Increase in intangibles	(19)	(23)
Proceeds from sales of property and equipment	42	68
Proceeds from promissory note	0	4,343
Net cash (used in) provided by investing activities	(17,433)	900
Financing activities
Payments of the principal portion of finance lease liabilities	(75)	(35)
Payment of debt issuance costs	(91)	0
Taxes paid associated with net settlement of stock compensation awards	(1,901)	(3,545)
Proceeds from exercise of stock options	0	353
Payment of earnout liability related to business acquisition	(3,500)	0
Common stock repurchased	(25,447)	(16,143)
Net cash used in financing activities	(31,014)	(19,370)
Effect of exchange rate differences on cash and cash equivalents	(739)	829
Net (decrease) increase in cash and cash equivalents	(18,049)	36,630
Cash and cash equivalents at beginning of period	106,335	76,036
Cash and cash equivalents at end of period	88,286	112,666
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	592	907
Non-cash: Earnout liability for acquisition activity	4,500	0
Common stock surrendered in the exercise of stock options	$ 100	$ 1,502

Organization

Organization	9 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Liquidity Services, Inc. (the Company) is a leading global commerce company providing trusted marketplace platforms that power the circular economy. We create a better future for organizations, individuals, and the planet by capturing and unleashing the intrinsic value of surplus. We connect millions of buyers and thousands of sellers through our leading auction marketplaces, search engines, asset management software, and related services. Our comprehensive solutions enable the transparent, efficient, sustainable recovery of value from excess items owned by business and government sellers. Results from our operations are organized into four reportable segments: Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), GovDeals, and Machinio. See Note 14 - Segment Information for more information. We were incorporated in Delaware in November 1999 as Liquidation.com, Inc. and commenced operations in early 2000. On November 1, 2021, the Company purchased all of the issued and outstanding shares of stock of Bid4Assets, Inc. (Bid4Assets), a Maryland corporation based in Silver Spring, MD. Bid4Assets auctions distressed real estate for the federal government, sheriffs, county tax-collectors, financial institutions and real estate funds. See Note 3 - Bid4Assets Acquisition for more information regarding this transaction. 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 any future economic impact from the COVID-19 pandemic, inflationary pressures, and impacts from interest rate changes; 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, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The accompanying unaudited condensed 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 condensed consolidated financial statements for these periods is unaudited. Operating results for the three and nine months ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending September 30, 2022, 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 condensed consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2022, 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 $0.9 million as of June 30, 2022, and $0.6 million as of September 30, 2021, and is included in the line item Prepaid expenses and other current assets on the Condensed 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 $4.9 million as of June 30, 2022, and $4.6 million as of September 30, 2021, and is included in the line item Consignment and other fee revenue on the Condensed Consolidated Balance Sheets. Of the September 30, 2021, contract liability balance, $4.3 million was earned as Other fee revenue during the nine months ended June 30, 2022. Performance obligations for Machinio's subscription services are satisfied over time as the Company provides the services over the term of the subscription. As of June 30, 2022, the Company has a remaining performance obligation of $4.9 million for these subscription services, and the Company expects to recognize the substantial majority of that amount as Other 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 was $1.8 million as of June 30, 2022, and $1.6 million as of September 30, 2021, and is included in the line items Prepaid expenses and other current assets and Other assets on the Condensed Consolidated Balance Sheets. Amortization expense was $0.3 million and $0.8 million during the three and nine months ended June 30, 2022, respectively, and $0.2 million and $0.5 million during the three and nine months ended June 30, 2021, respectively. 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 13, 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 a component of Other operating expenses, net in its Condensed Consolidated Statement of Operations during the three 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. There was no impact on the unaudited financial statements from this transaction as of and for the three and nine months ended June 30, 2022. 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 Condensed 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 within interest bearing and earnings allowance checking accounts, as well as cash equivalent money market funds, all of which may at times exceed federally insured limits (FDIC and/or SIPC), and Accounts receivable. The Company deposits its cash in interest bearing checking accounts, or acquires cash equivalent money market funds, each 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 61.1% and 63.5% of consolidated Cost of goods sold for the three months ended June 30, 2022, and 2021, respectively, and 57.7% and 61.7% of consolidated Cost of goods sold for the nine months ended June 30, 2022, and 2021, respectively. These contracts are included within the RSCG reportable segment. Recent Accounting Pronouncements Accounting Standards Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The Company adopted the new standard on a prospective basis effective October 1, 2021. This accounting standard has not had a material impact on the Company's condensed consolidated financial statements. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326)

Bid4Assets Acquisition

Bid4Assets Acquisition	9 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Bid4Assets Acquisition	Bid4Assets Acquisition On November 1, 2021, the Company purchased all of the issued and outstanding shares of stock of Bid4Assets, Inc. (Bid4Assets), a Maryland corporation. Bid4Assets is a leading online marketplace focused on conducting real property auctions for the government, including tax foreclosure sales and sheriff's sales. The results of Bid4Assets' operations are included within our GovDeals reportable segment and reporting unit. As of June 30, 2022 , the Company's purchase price allocation related to this acquisition is preliminary and subject to revisions as additional information is obtained about the facts and circumstances that existed as of the acquisition date. The revisions may have a significant impact on our condensed consolidated financial statements. The allocation of the purchase price will be finalized once all information that was known and knowable as of the acquisition date is obtained and analyzed, but not to exceed one year from the acquisition date. The primary areas of the purchase price allocation that are not yet finalized relate to income and non-income taxes, the valuation of intangible assets acquired and earn-out liability, and the residual goodwill. The preliminary amounts assigned to intangible assets by type for this acquisition were based upon our valuation model and historical experiences with entities with similar business characteristics. During the three months ended March 31, 2022, we recorded a measurement period adjustment of $1.1 million for the earn-out consideration fair value with a corresponding increase to Goodwill, based on facts and circumstances in existence as of the effective date of the acquisition related to the discount rates associated with the expected earn-out payments. This resulted in a change to the total consideration transferred and goodwill balance seen below as compared to our previously reported preliminary purchase accounting results as of December 31, 2021. The preliminary acquisition date fair value of the consideratio n transferred to the former shareholders of Bid4Assets was approximately $42.7 million consisting of $14.7 million in cash (net of working capital adjustments totaling $0.3 million) and earn-out consideration with a preliminary fair value of $28.0 million. Former s hareholders of Bid4Assets are eligible to receive earn-out consideration of up to $37.5 million in cash, payable based on Bid4Assets' achievement of trailing twelve-month EBITDA targets measured at the end of each calendar quarter until the quarter ended December 31, 2022. The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the Bid4Assets acquisition date of November 1, 2021, is as follows: (in thousands) Fair Value Cash and cash equivalents $ 3,576 Intangible assets 16,500 Other assets 346 Total assets acquired 20,422 Payables to sellers 3,715 Operating lease liabilities 204 Deferred tax liabilities 3,724 Total liabilities assumed 7,642 Net identifiable assets acquired $ 12,780 Goodwill 29,960 Total consideration transferred $ 42,739 The excess of purchase consideration over the fair value of assets acquired and liabilities assumed was recorded as goodwill. The goodwill associated with our acquisition includes the acquired assembled work force, and the value associated with the opportunity to leverage the workforce to continue to grow by adding additional customer relationships or new solutions in the future. Based on management's preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, goodwill of approximately $30.0 million was recorded. The total goodwill arising from the acquisition is included in the GovDeals reportable segment and reporting unit and is not deductible for tax purposes. The known intangible assets acquired were determined to consist of, and preliminarily fair valued at, the following: (in thousands) Useful Life (in years) Fair Value Contract intangibles 8 $ 13,900 Developed software 3 2,200 Trade name 3 400 Total identifiable intangible assets $ 16,500 Contract Intangibles We recorded contract intangibles separately from goodwill based upon determination of the length, strength, and contractual nature of the relationship that Bid4Assets shared with its suppliers. We valued the contract intangibles using the multi-period excess earnings method, an income approach valuation model. The significant assumptions used in the income approach includes estimates about future expected cash flows from supplier contracts, the attrition rate, and the discount rate. We are amortizing the contract intangibles, preliminarily valued at $13.9 million, on a straight-line basis over a useful life of eight years, which is materially consistent with the expected pattern of economic benefit. Developed Software Developed software primarily consists of intellectual property of the Bid4Assets e-commerce marketplace and associated mailing lists. We valued the developed software by applying the relief-from-royalty method, an income approach valuation model. The significant assumptions used in the relief-from-royalty method include estimates about future expected cash flows from the developed software, the royalty rate, the obsolescence factor and the discount rate. We are amortizing the acquired developed technology, preliminarily valued at $2.2 million, on a straight-line basis over a useful life of three years, which is materially consistent with the expected pattern of economic benefit. Trade Name We valued the trade name acquired using a relief-from-royalty method. The significant assumptions used in the relief-from-royalty method include future expected cash flows from the trade name, the royalty rate, and the discount rate. We are amortizing the trade name, preliminarily valued at $0.4 million, on a straight-line basis over a useful life of three years, which is materially consistent with the expected pattern of economic benefit. Contingent Consideration During the nine months ended June 30, 2022, and as a result of the acquisition of Bid4Assets, the Company recorded preliminary contingent consideration in the amount of $28.0 million on its Condensed Consolidated Balance Sheets. See further discussion of this matter within Note 11 - Fair Value Measurement . Other Information Revenue, net income (loss), and pro forma information related to the Bid4Assets acquisition was immaterial to the condensed consolidated financial statements and its related notes for the three and nine months ended

Earnings per Share

Earnings per Share	9 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic net income per share is computed by dividing Net income for the period by the weighted average number of shares outstanding during the period. Diluted net income 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, 2022 2021 2022 2021 Numerator: Net income $ 16,408 $ 8,419 $ 31,979 $ 18,193 Denominator: Basic weighted average shares outstanding 31,908,864 33,371,906 32,482,326 33,345,580 Dilutive impact of stock options, RSUs and RSAs 1,169,704 2,065,855 1,530,907 1,661,318 Diluted weighted average shares outstanding 33,078,568 35,437,761 34,013,233 35,006,898 Basic income per common share $ 0.51 $ 0.25 $ 0.98 $ 0.55 Diluted income per common share $ 0.50 $ 0.24 $ 0.94 $ 0.52 Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive 1,303,147 198,308 1,290,073 592,588

Leases

Leases	9 Months Ended
	Jun. 30, 2022
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 4.6 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) 2022 2021 2022 2021 Finance lease – lease asset amortization $ 19 $ 18 $ 61 $ 50 Finance lease – interest on lease liabilities 5 4 15 14 Operating lease cost 1,406 1,218 4,318 3,873 Operating lease impairment expense — — — 172 Short-term lease cost 101 45 218 166 Variable lease cost (1) 405 360 958 1,178 Sublease income (22) (34) (90) (141) Total net lease cost $ 1,914 $ 1,611 $ 5,480 $ 5,312 (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, 2022 (in thousands) Operating Leases Finance Leases 2022 $ 1,408 $ 29 2023 5,293 117 2024 4,392 97 2025 3,600 69 2026 2,139 66 Thereafter 396 12 Total lease payments (1) $ 17,228 $ 390 Less: imputed interest (2) (1,748) (39) Total lease liabilities $ 15,480 $ 351 (1 ) The weighted average remaining lease term is 3.5 years for operating leases and 3.8 years for finance leases. (2) The weighted average discount rate is 6.2% for operating leases and 5.5% for finance leases. Supplemental disclosures of cash flow information related to leases are: Nine Months Ended June 30, (in thousands) 2022 2021 Cash paid for amounts included in operating lease liabilities $ 3,190 $ 3,225 Cash paid for amounts included in finance lease liabilities 75 35 Non-cash: lease liabilities arising from new operating lease assets obtained 4,664 885 Non-cash: lease liabilities arising from new finance lease assets obtained 179 130 Non-cash: adjustments to lease assets and liabilities 1 (196) 3,705 (1)
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 4.6 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) 2022 2021 2022 2021 Finance lease – lease asset amortization $ 19 $ 18 $ 61 $ 50 Finance lease – interest on lease liabilities 5 4 15 14 Operating lease cost 1,406 1,218 4,318 3,873 Operating lease impairment expense — — — 172 Short-term lease cost 101 45 218 166 Variable lease cost (1) 405 360 958 1,178 Sublease income (22) (34) (90) (141) Total net lease cost $ 1,914 $ 1,611 $ 5,480 $ 5,312 (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, 2022 (in thousands) Operating Leases Finance Leases 2022 $ 1,408 $ 29 2023 5,293 117 2024 4,392 97 2025 3,600 69 2026 2,139 66 Thereafter 396 12 Total lease payments (1) $ 17,228 $ 390 Less: imputed interest (2) (1,748) (39) Total lease liabilities $ 15,480 $ 351 (1 ) The weighted average remaining lease term is 3.5 years for operating leases and 3.8 years for finance leases. (2) The weighted average discount rate is 6.2% for operating leases and 5.5% for finance leases. Supplemental disclosures of cash flow information related to leases are: Nine Months Ended June 30, (in thousands) 2022 2021 Cash paid for amounts included in operating lease liabilities $ 3,190 $ 3,225 Cash paid for amounts included in finance lease liabilities 75 35 Non-cash: lease liabilities arising from new operating lease assets obtained 4,664 885 Non-cash: lease liabilities arising from new finance lease assets obtained 179 130 Non-cash: adjustments to lease assets and liabilities 1 (196) 3,705 (1)

Goodwill

Goodwill	9 Months Ended
	Jun. 30, 2022
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, 2020 $ 21,550 $ 23,731 $ 14,558 $ 59,839 Translation adjustments 33 — — 33 Balance at September 30, 2021 $ 21,583 $ 23,731 $ 14,558 $ 59,872 Bid4Assets acquisition (see Note 3) — 29,960 — 29,960 Translation adjustments (585) — — (585) Balance at June 30, 2022 $ 20,998 $ 53,691 $ 14,558 $ 89,247 The increase in the goodwill balance of approximately $30.0 million at the GovDeals reportable segment and reporting unit during the nine months ended June 30, 2022, is due to the Bid4Assets acquisition. See Note 3 - Bid4Assets Acquisition for further information. Goodwill is tested for impairment at the beginning of the fourth quarter and during interim periods whenever events or circumstances indicate that the carrying value may not be recoverable. As discussed in Note 11 – Fair Value Measurement

Intangible Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Intangible Assets	Intangible Assets Intangible assets consist of the following: June 30, 2022 September 30, 2021 (in thousands) Useful Gross Accumulated Net Gross Accumulated Net Contract intangibles 6 - 8 17,000 (3,225) 13,775 3,100 (1,679) 1,421 Technology 3 - 5 5,300 (2,738) 2,562 2,700 (1,755) 945 Patent and trademarks 3 - 10 2,379 (1,480) 899 2,360 (1,273) 1,087 Total intangible assets $ 24,679 $ (7,443) $ 17,236 $ 8,160 $ (4,707) $ 3,453 The gross carrying amount of total intangible assets increased by $16.5 million during the nine months ended June 30, 2022, primarily due to the Bid4Assets acquisition. The acquired developed software and trade name are included in the above line items of Technology and Patent and trademarks, respectively. See Note 3 - Bid4Assets Acquisition for further information. Future expected amortization of intangible assets at June 30, 2022, is as follows: (in thousands) Expected Amortization Expense Years ending September 30, Remainder of 2022 $ 983 2023 3,792 2024 3,255 2025 2,014 2026 and thereafter 7,192 Total $ 17,236

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe 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 2022 and its corresponding effective tax rate is 11.7% compared to 5.9% for the first nine months of fiscal year 2021. The change in the effective tax rate for the nine months ended June 30, 2022, as compared to the same period in the prior year was primarily due to state and foreign taxes, and the utilization of net operating losses. The effective tax rate differed from the U.S. statutory federal rate of 21% primarily as a result of the impact of foreign, state, and local income taxes and permanent tax adjustments, the most significant of which was the exclusion of the $20.0 million non-cash gain from the fair market value adjustment of the Bid4Assets acquisition earn-out liability. The Company applies the authoritative guidance related to uncertainty in income taxes. ASC 740, Income Taxes

Debt

Debt	9 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt On February 10, 2022, the Company entered into a credit facility agreement (Credit Agreement) with Wells Fargo Bank, N.A. Terms of the Credit Agreement provide for revolving loans (Line of Credit) up to a maximum aggregate principal amount of $25.0 million with a $10.0 million sublimit for standby letters of credit. The Credit Agreement ends on March 31, 2024, at which time any remaining amounts outstanding are due immediately. The applicable interest rate on any draws under the Line of Credit is a variable rate per annum equal to the Daily Simple Secured Overnight Financing Rate (SOFR) in effect plus a margin ranging from 1.25% to 1.75%. Interest is payable monthly. The Company pays an Unused Commitment Fee, on a quarterly basis, equal to 0.05% per annum on the daily amount of the Line of Credit available, but unused. The Company also pays a Letter of Credit Fee, on a quarterly basis, equal to 1.25% on the daily amount available to be drawn for standby letters of credit. Interest incurred on any draws under the Line of Credit, as well as the Unused Commitment Fee and Letter of Credit Fee, are included within Interest and other expenses (income), net in the Condensed Consolidated Statements of Operations. The Company may draw upon the Line of Credit for general corporate purposes. Repayments of any borrowings under the Line of Credit shall become available for redraw at any time by the Company. The Credit Agreement contains certain financial and non-financial restrictive covenants including, among others, the requirement to maintain a minimum level of earnings before interest, income taxes, depreciation and amortization (EBITDA). The Credit Agreement contains a number of affirmative and restrictive covenants including limitations on mergers, consolidations and dissolutions, investments and acquisitions, indebtedness and liens, and dividends and other restricted payments. As of June 30, 2022, the Company was in full compliance with the terms and conditions of the Credit Agreement. During the three and nine months ended June 30, 2022, the Company did not make any draws under the Credit Agreement. As of June 30, 2022, the Company had no outstanding borrowings under the Credit Agreement.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The changes in stockholders’ equity for the prior year comparable period are as follows: Common Stock Treasury Stock (dollars in thousands) Shares Amount Additional Shares Amount Accumulated Accumulated Total Balance at September 30, 2020 34,082,406 $ 34 $ 247,892 (547,508) $ (3,983) $ (9,782) $ (122,346) $ 111,815 Net income — — — — — — 4,514 4,514 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 151,845 — 197 — — — — 197 Taxes paid associated with net settlement of stock compensation awards (7,703) — (57) — — — — (57) Forfeitures of restricted stock awards (13,733) — — — — — — — Common stock repurchased — — — (309,496) (4,103) — — (4,103) Common stock surrendered in the exercise of stock options — — 169 (9,384) (169) — — — Stock compensation expense — — 1,801 — — — — 1,801 Foreign currency translation — — — — — 896 — 896 Balance at December 31, 2020 34,212,815 $ 34 $ 250,002 (866,388) $ (8,255) $ (8,886) $ (117,832) $ 115,063 Net income — — — — — — 5,260 5,260 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 1,079,955 1 154 — — — — 155 Taxes paid associated with net settlement of stock compensation awards (177,463) — (3,145) — — — — (3,145) Common stock repurchased — — — (647,583) (12,040) — — (12,040) Common stock surrendered in the exercise of stock options — — 1,333 (73,228) (1,333) — — — Stock compensation expense — — 1,522 — — — — 1,522 Foreign currency translation — — — — — 123 — 123 Balance at March 31, 2021 35,115,307 $ 35 $ 249,866 (1,587,199) $ (21,628) $ (8,763) $ (112,572) $ 106,938 Net income — — — — 8,419 8,419 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 318,242 — — — — — — — Taxes paid associated with net settlement of stock compensation awards (15,834) — (343) — — — — (343) Stock compensation expense — — 1,525 — — — — 1,525 Foreign currency translation and other — — — — — 23 (1) 22 Balance at June 30, 2021 35,417,715 $ 35 $ 251,048 (1,587,199) $ (21,628) $ (8,740) $ (104,154) $ 116,561 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 (LTIP), and a plan and private placement issuances related to the Company’s acquisition of Machinio and Bid4Assets. During the nine months ended June 30, 2022, the Company's shareholders approved an amendment to the LTIP to increase the number of shares of common stock reserved for issuance from 19,100,000 to 20,300,000. Accordingly, as of June 30, 2022, the Company has reserved a total of 20,300,000 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, 2022 , 2,353,049 sh ares of common stock remained available for use under the LTIP. 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, 2022 2021 2022 2021 Equity-classified awards: Stock options $ 505 $ 762 $ 2,097 $ 2,491 RSUs & RSAs 1,478 763 4,259 2,357 Total equity-classified awards $ 1,983 $ 1,525 $ 6,356 $ 4,848 Liability-classified awards: SARs (99) 278 (200) 945 Total stock compensation expense: $ 1,884 $ 1,803 $ 6,156 $ 5,793 The table below presents the components of share-based compensation expense by line item within our Condensed Consolidated Statements of Operations (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2022 2021 2022 2021 Stock Compensation Expense by Line Item Technology and operations $ 321 $ 261 $ 906 $ 885 Sales and marketing 464 459 1,496 1,493 General and administrative 1,099 1,083 3,754 3,415 Total stock compensation expense: $ 1,884 $ 1,803 $ 6,156 $ 5,793 Stock Options and RSUs & RSAs The following table presents stock option and RSUs & RSAs grant activity: Nine Months Ended June 30, 2022 Stock Options granted: Options containing only service conditions: 131,712 Weighted average exercise price $ 22.13 Weighted average grant date fair value $ 10.83 Options containing performance or market conditions: 129,945 Weighted average exercise price $ 22.17 Weighted average grant date fair value $ 10.30 RSUs & RSAs granted: RSUs & RSAs containing only service conditions: 1 354,934 Weighted average grant date fair value $ 21.78 RSUs & RSAs containing performance or market conditions: 1 451,085 Weighted average grant date fair value $ 18.84 ________________ 1 55,000 RSUs containing service conditions and 70,000 RSUs containing performance conditions were granted by private placement. 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, a segment, or a division of a segment. 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, 2022, were as follows: Nine Months Ended June 30, 2022 Dividend yield — Expected volatility 57.0% - 61.2% Risk-free interest rate 1.1% - 1.8% Expected term 4.5 - 7.4 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, 2022, were as follows: Nine Months Ended June 30, 2022 Dividend yield — Expected volatility 57.2% - 62.9% Risk-free interest rate 1.1% - 1.5% Expected holding period (% of remaining term) 29.4% - 100.0% SARs During the nine months ended June 30, 2022, the Company did not issue any SARs, 7,475 SARs were exercised requiring the Company to make cash payments of $0.1 million , and 3,250 SARs were canceled. As of June 30, 2022 , 31,320 SARs were outstanding. Share Repurchase Program From time to time, we may be 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. The Company had no remaining share repurchase authorization as of September 30, 2021. On December 6, 2021, the Company's Board of Directors authorized a new stock repurchase plan of up to $20 million of the Company's ou tstanding shares of common stock through December 31, 2023. The Company repurchased 1,159,066 shares for $20.0 million during the six months ended March 31, 2022. On May 13, 2022, the Company's Board of Directors authorized a new stock repurchase plan of up to $12 million of our outstanding shares of common stock through June 30, 2024. The Company repurchased 408,211 shares for $5.4 million during the three months ended June 30, 2022. As of June 30, 2022, the Company may repurchase an additional $6.6 million of shares under this program. 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, 2022, and June 30, 2021 , no shares of common stock were surrendered by participants in the exercise of stock options. During the nine

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Jun. 30, 2022
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 held $20.0 million and $40.0 million of money market funds considered cash equivalents at June 30, 2022, and September 30, 2021, respectively. Money market funds held at June 30, 2022, and September 30, 2021, were measured at fair value and classified as Level 1 assets within the fair value hierarchy. There were no transfers between levels during the periods presented. During the nine months ended June 30, 2022, and as a result of the acquisition of Bid4Assets, the Company recorded preliminary fair value of contingent consideration in the amount of $28.0 million on its Condensed Consolidated Balance Sheets as of the acquisition date. The contingent consideration is based on Bid4Assets' achievement of trailing twelve-month EBITDA targets measured at the end of each calendar quarter until the quarter ended December 31, 2022. The liability for this consideration is included in Accrued expenses and other current liabilities within the Condensed Consolidated Balance Sheets. The Company's estimate of the fair value of the earn-out consideration was informed by the Monte Carlo valuation method and considered potential outcomes based upon the terms and conditions of the merger agreement. The fair value measurements utilized were classified as Level 3 assets within the fair value hierarchy under the provisions of ASC 820, Fair Value Measurements , and ASC 805, Business Combinations . The significant unobservable inputs used in the fair value measurem ent categorized within Level 3 of the fair value hierarchy included estimated results of operations over the earn-out period, volatility of gross profit and operating expenses, and the discount rate. The earn-out consideration was preliminarily valued at approximately $28.0 million as of the acquisition date. Fair value of the earn-out consideration will be remeasured at the end of each calendar quarter until December 31, 2022. The changes in earn-out liability measured at fair value for which the Company has used Level 3 inputs to determine fair value during the three and nine months ended June 30, 2022, is as follows (in thousands): Earn-out Liability Balance at September 30, 2021 $ — Earn-out from business acquisition 26,900 Balance at December 31, 2021 $ 26,900 Measurement period adjustment 1,100 Change in fair value (8,500) Balance at March 31, 2022 $ 19,500 Payment of achieved earn-out threshold (3,500) Change in fair value (11,500) Balance at June 30, 2022 $ 4,500 During the three months ended March 31, 2022, the Company recorded a measurement period adjustment of $1.1 million for the preliminary earn-out consideration fair value with a corresponding increase to goodwill, based on facts and circumstances in existence as of the effective date of the acquisition related to the discount rates associated with the expected earn-out payments. See further discussion in Note 3 - Bid4Assets Acquisition . In addition, the fair value of the earn-out liability was reduced by $8.5 million to $19.5 million, primarily due to a decline in the auction events and transactions that are expected to be completed during the earn-out period ending December 31, 2022, which included extended timelines to advance legislation that allows for online auctions of foreclosed real estate in certain target markets, and other client specific delays in bringing foreclosed real estate to auction. During the three months ended June 30, 2022, the fair value of the earn out liability was reduced by $11.5 million, primarily due to further client specific delays in bringing foreclosed real estate to auction. These changes resulted from events occurring subsequent to the November 1, 2021, acquisition date and therefore, were not known nor knowable at that time. As a result, these changes in fair value were recorded as a gain within Fair value adjustments of acquisition earn-outs in the Condensed Consolidated Statements of Operations. As of March 31, 2022, Bid4Assets achieved a trailing twelve-month EBITDA threshold resulting in a $3.5 million payment made by the Company during the three months ended June 30, 2022. As of June 30, 2022, Bid4Assets has not achieved any additional trailing twelve-month EBITDA thresholds. The remaining $4.5 million in earn-out liability as of June 30, 2022, is recorded within Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets. When valuing its Level 3 liability, management's estimation of fair value is based on the best information available in the circumstances and may incorporate management's own assumptions around market demand which could involve a level of judgment, taking into consideration a combination of internal and external factors. 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 instruments approximate fair value. As of June 30, 2022, the Company had no non-financial instruments measured at fair value on a non-recurring basis other than fair value measurements associated with the preliminary purchase accounting for Bid4Assets. See Note 3 - Bid4Assets Acquisition

Defined Benefit Pension Plan

Defined Benefit Pension Plan	9 Months Ended
	Jun. 30, 2022
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 Condensed Consolidated Statements of Operations, and for the three and nine months ended June 30, 2022 and 2021, included the following components: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Interest cost $ 122 $ 142 $ 384 $ 343 Expected return on plan assets (219) (245) (686) (637) Amortization of prior service cost 5 6 15 17 Total net periodic (benefit) $ (92) $ (97) $ (287) $ (277)

Legal Proceedings and Other Con

Legal Proceedings and Other Contingencies	9 Months Ended
	Jun. 30, 2022
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. Former Employee Matters In May 2021, the Company’s former Vice President, Human Resources filed a complaint against the Company in federal court in Montgomery County, Maryland, alleging wrongful termination on the basis of gender, race, and age. The parties have completed the discovery phase of this case. On April 4, 2022, the Company filed a motion for summary judgment. 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. In October 2021, the Company’s former Chief Marketing Officer filed a claim with the Equal Employment Opportunity Commission (the “EEOC”), alleging wrongful termination on the basis of race and age and that the Company retaliated against him. The Company submitted its position statement to the EEOC on February 8, 2022. The Company believes these claims are without merit and cannot estimate a range of potential liability, if any, at this time. CNA has accepted tender of these claims as well.

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2022
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 that enable local and state government entities including city, county and state agencies located in the United States and Canada, to sell surplus, salvage and real estate assets through the GovDeals and Bid4Assets marketplaces (see Note 3 Bid4Assets Acquisition ). • The RSCG reportable segment consists of marketplaces that enable corporations located in the United States and Canada to sell surplus and salvage consumer goods. RSCG also offers a suite of services that includes returns management, asset recovery, and e-commerce services. This segment uses the Liquidation.com, Secondipity and AllSurplus marketplaces. Through the end of third quarter fiscal 2021, RSCG operated the Liquidation.com DIRECT marketplace for truckload quantities of retail surplus. Those assets are now sold on the Liquidation.com marketplace. • The CAG reportable segment provides managed and self-directed service solutions to sellers and 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 seller assets are located across the Americas, Europe, Australia, Asia, and Africa. This segment uses the GoIndustry DoveBid and AllSurplus marketplaces. • The Machinio reportable segment operates a global search engine 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 reportable 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) 2022 2021 2022 2021 GovDeals: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues 16,587 14,658 45,130 36,448 Total revenue 16,587 14,658 45,130 36,448 Segment gross profit $ 15,765 $ 13,965 $ 42,913 $ 34,544 RSCG: Purchase revenues $ 33,788 $ 35,923 $ 99,838 $ 95,997 Consignment and other fee revenues 8,586 8,172 23,045 22,086 Total revenue 42,374 44,095 122,883 118,083 Segment gross profit $ 15,942 $ 17,755 $ 46,818 $ 48,315 CAG: Purchase revenues $ 1,719 $ 1,939 $ 9,271 $ 8,905 Consignment and other fee revenues 6,077 6,528 18,725 16,967 Total revenue 7,796 8,467 27,996 25,872 Segment gross profit $ 6,271 $ 7,099 $ 21,076 $ 20,445 Machinio: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues 3,109 2,446 8,839 6,801 Total revenue 3,109 2,446 8,839 6,801 Segment gross profit $ 2,956 $ 2,304 $ 8,379 $ 6,399 Corporate & Other, including elimination adjustments: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues — — — — Total revenue — — — — Segment gross profit $ — $ — $ — $ — Consolidated: Purchase revenues $ 35,507 $ 37,862 $ 109,109 $ 104,902 Consignment and other fee revenues 34,359 31,804 95,739 82,302 Total revenue 69,866 69,666 204,848 187,204 Segment gross profit $ 40,934 $ 41,123 $ 119,186 $ 109,703 The following table reconciles segment 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) 2022 2021 2022 2021 Reconciliation: Segment gross profit $ 40,934 $ 41,123 $ 119,186 $ 109,703 Total operating expenses 33,739 32,529 103,026 90,845 Fair value adjustment of acquisition earn-outs (11,500) — (20,000) — Interest and other expenses (income), net 104 (254) (73) (468) Income before provision for income taxes $ 18,591 $ 8,848 $ 36,233 $ 19,326 The percent of our rev enues that came from transactions conducted outside of the United States for the three months ended June 30, 2022, and 2021 was 11.9% and 14.4%, respectively, and the percent of our revenues that came from transactions conducted outside of the United States for the nine months ended June 30, 2022, and 2021 was 13.6% and 16.2%,

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2022
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 condensed consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2022, 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 $0.9 million as of June 30, 2022, and $0.6 million as of September 30, 2021, and is included in the line item Prepaid expenses and other current assets on the Condensed 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 $4.9 million as of June 30, 2022, and $4.6 million as of September 30, 2021, and is included in the line item Consignment and other fee revenue on the Condensed Consolidated Balance Sheets. Of the September 30, 2021, contract liability balance, $4.3 million was earned as Other fee revenue during the nine months ended June 30, 2022. Performance obligations for Machinio's subscription services are satisfied over time as the Company provides the services over the term of the subscription. As of June 30, 2022, the Company has a remaining performance obligation of $4.9 million for these subscription services, and the Company expects to recognize the substantial majority of that amount as Other fee revenue over the next 12 months. Contract Costs
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 13, 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 a component of Other operating expenses, net in its Condensed Consolidated Statement of Operations during the three 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. There was no impact on the unaudited financial statements from this transaction as of and for the three and nine months ended June 30, 2022.
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 Condensed 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 within interest bearing and earnings allowance checking accounts, as well as cash equivalent money market funds, all of which may at times exceed federally insured limits (FDIC and/or SIPC), and Accounts receivable. The Company deposits its cash in interest bearing checking accounts, or acquires cash equivalent money market funds, each with financial institutions that the Company considers to be of high credit quality.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The Company adopted the new standard on a prospective basis effective October 1, 2021. This accounting standard has not had a material impact on the Company's condensed consolidated financial statements. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326)

Bid4Assets Acquisition (Tables)

Bid4Assets Acquisition (Tables)	9 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisitions, by acquisition	The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the Bid4Assets acquisition date of November 1, 2021, is as follows: (in thousands) Fair Value Cash and cash equivalents $ 3,576 Intangible assets 16,500 Other assets 346 Total assets acquired 20,422 Payables to sellers 3,715 Operating lease liabilities 204 Deferred tax liabilities 3,724 Total liabilities assumed 7,642 Net identifiable assets acquired $ 12,780 Goodwill 29,960 Total consideration transferred $ 42,739
Finite-lived and indefinite-lived intangible assets acquired as part of business combination	The known intangible assets acquired were determined to consist of, and preliminarily fair valued at, the following: (in thousands) Useful Life (in years) Fair Value Contract intangibles 8 $ 13,900 Developed software 3 2,200 Trade name 3 400 Total identifiable intangible assets $ 16,500

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 Numerator: Net income $ 16,408 $ 8,419 $ 31,979 $ 18,193 Denominator: Basic weighted average shares outstanding 31,908,864 33,371,906 32,482,326 33,345,580 Dilutive impact of stock options, RSUs and RSAs 1,169,704 2,065,855 1,530,907 1,661,318 Diluted weighted average shares outstanding 33,078,568 35,437,761 34,013,233 35,006,898 Basic income per common share $ 0.51 $ 0.25 $ 0.98 $ 0.55 Diluted income per common share $ 0.50 $ 0.24 $ 0.94 $ 0.52 Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive 1,303,147 198,308 1,290,073 592,588

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 Finance lease – lease asset amortization $ 19 $ 18 $ 61 $ 50 Finance lease – interest on lease liabilities 5 4 15 14 Operating lease cost 1,406 1,218 4,318 3,873 Operating lease impairment expense — — — 172 Short-term lease cost 101 45 218 166 Variable lease cost (1) 405 360 958 1,178 Sublease income (22) (34) (90) (141) Total net lease cost $ 1,914 $ 1,611 $ 5,480 $ 5,312 (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) 2022 2021 Cash paid for amounts included in operating lease liabilities $ 3,190 $ 3,225 Cash paid for amounts included in finance lease liabilities 75 35 Non-cash: lease liabilities arising from new operating lease assets obtained 4,664 885 Non-cash: lease liabilities arising from new finance lease assets obtained 179 130 Non-cash: adjustments to lease assets and liabilities 1 (196) 3,705 (1)
Schedule of operating lease maturities	Maturities of lease liabilities are: June 30, 2022 (in thousands) Operating Leases Finance Leases 2022 $ 1,408 $ 29 2023 5,293 117 2024 4,392 97 2025 3,600 69 2026 2,139 66 Thereafter 396 12 Total lease payments (1) $ 17,228 $ 390 Less: imputed interest (2) (1,748) (39) Total lease liabilities $ 15,480 $ 351 (1 ) The weighted average remaining lease term is 3.5 years for operating leases and 3.8 years for finance leases. (2) The weighted average discount rate is 6.2% for operating leases and 5.5% for finance leases.
Schedule of finance lease maturities	Maturities of lease liabilities are: June 30, 2022 (in thousands) Operating Leases Finance Leases 2022 $ 1,408 $ 29 2023 5,293 117 2024 4,392 97 2025 3,600 69 2026 2,139 66 Thereafter 396 12 Total lease payments (1) $ 17,228 $ 390 Less: imputed interest (2) (1,748) (39) Total lease liabilities $ 15,480 $ 351 (1 ) The weighted average remaining lease term is 3.5 years for operating leases and 3.8 years for finance leases. (2) The weighted average discount rate is 6.2% for operating leases and 5.5% for finance leases.

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Jun. 30, 2022
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, 2020 $ 21,550 $ 23,731 $ 14,558 $ 59,839 Translation adjustments 33 — — 33 Balance at September 30, 2021 $ 21,583 $ 23,731 $ 14,558 $ 59,872 Bid4Assets acquisition (see Note 3) — 29,960 — 29,960 Translation adjustments (585) — — (585) Balance at June 30, 2022 $ 20,998 $ 53,691 $ 14,558 $ 89,247

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of intangible assets	Intangible assets consist of the following: June 30, 2022 September 30, 2021 (in thousands) Useful Gross Accumulated Net Gross Accumulated Net Contract intangibles 6 - 8 17,000 (3,225) 13,775 3,100 (1,679) 1,421 Technology 3 - 5 5,300 (2,738) 2,562 2,700 (1,755) 945 Patent and trademarks 3 - 10 2,379 (1,480) 899 2,360 (1,273) 1,087 Total intangible assets $ 24,679 $ (7,443) $ 17,236 $ 8,160 $ (4,707) $ 3,453
Schedule of future expected amortization of intangible assets	Future expected amortization of intangible assets at June 30, 2022, is as follows: (in thousands) Expected Amortization Expense Years ending September 30, Remainder of 2022 $ 983 2023 3,792 2024 3,255 2025 2,014 2026 and thereafter 7,192 Total $ 17,236

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of stockholders' equity	The changes in stockholders’ equity for the prior year comparable period are as follows: Common Stock Treasury Stock (dollars in thousands) Shares Amount Additional Shares Amount Accumulated Accumulated Total Balance at September 30, 2020 34,082,406 $ 34 $ 247,892 (547,508) $ (3,983) $ (9,782) $ (122,346) $ 111,815 Net income — — — — — — 4,514 4,514 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 151,845 — 197 — — — — 197 Taxes paid associated with net settlement of stock compensation awards (7,703) — (57) — — — — (57) Forfeitures of restricted stock awards (13,733) — — — — — — — Common stock repurchased — — — (309,496) (4,103) — — (4,103) Common stock surrendered in the exercise of stock options — — 169 (9,384) (169) — — — Stock compensation expense — — 1,801 — — — — 1,801 Foreign currency translation — — — — — 896 — 896 Balance at December 31, 2020 34,212,815 $ 34 $ 250,002 (866,388) $ (8,255) $ (8,886) $ (117,832) $ 115,063 Net income — — — — — — 5,260 5,260 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 1,079,955 1 154 — — — — 155 Taxes paid associated with net settlement of stock compensation awards (177,463) — (3,145) — — — — (3,145) Common stock repurchased — — — (647,583) (12,040) — — (12,040) Common stock surrendered in the exercise of stock options — — 1,333 (73,228) (1,333) — — — Stock compensation expense — — 1,522 — — — — 1,522 Foreign currency translation — — — — — 123 — 123 Balance at March 31, 2021 35,115,307 $ 35 $ 249,866 (1,587,199) $ (21,628) $ (8,763) $ (112,572) $ 106,938 Net income — — — — 8,419 8,419 Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units 318,242 — — — — — — — Taxes paid associated with net settlement of stock compensation awards (15,834) — (343) — — — — (343) Stock compensation expense — — 1,525 — — — — 1,525 Foreign currency translation and other — — — — — 23 (1) 22 Balance at June 30, 2021 35,417,715 $ 35 $ 251,048 (1,587,199) $ (21,628) $ (8,740) $ (104,154) $ 116,561
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, 2022 2021 2022 2021 Equity-classified awards: Stock options $ 505 $ 762 $ 2,097 $ 2,491 RSUs & RSAs 1,478 763 4,259 2,357 Total equity-classified awards $ 1,983 $ 1,525 $ 6,356 $ 4,848 Liability-classified awards: SARs (99) 278 (200) 945 Total stock compensation expense: $ 1,884 $ 1,803 $ 6,156 $ 5,793 The table below presents the components of share-based compensation expense by line item within our Condensed Consolidated Statements of Operations (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2022 2021 2022 2021 Stock Compensation Expense by Line Item Technology and operations $ 321 $ 261 $ 906 $ 885 Sales and marketing 464 459 1,496 1,493 General and administrative 1,099 1,083 3,754 3,415 Total stock compensation expense: $ 1,884 $ 1,803 $ 6,156 $ 5,793
Summary of stock options and restricted stock granted	The following table presents stock option and RSUs & RSAs grant activity: Nine Months Ended June 30, 2022 Stock Options granted: Options containing only service conditions: 131,712 Weighted average exercise price $ 22.13 Weighted average grant date fair value $ 10.83 Options containing performance or market conditions: 129,945 Weighted average exercise price $ 22.17 Weighted average grant date fair value $ 10.30 RSUs & RSAs granted: RSUs & RSAs containing only service conditions: 1 354,934 Weighted average grant date fair value $ 21.78 RSUs & RSAs containing performance or market conditions: 1 451,085 Weighted average grant date fair value $ 18.84 ________________ 1 55,000 RSUs containing service conditions and 70,000 RSUs containing performance conditions were granted by private placement.
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, 2022, were as follows: Nine Months Ended June 30, 2022 Dividend yield — Expected volatility 57.0% - 61.2% Risk-free interest rate 1.1% - 1.8% Expected term 4.5 - 7.4 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, 2022, were as follows: Nine Months Ended June 30, 2022 Dividend yield — Expected volatility 57.2% - 62.9% Risk-free interest rate 1.1% - 1.5% Expected holding period (% of remaining term) 29.4% - 100.0%

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Changes in financial liabilities fair value	The changes in earn-out liability measured at fair value for which the Company has used Level 3 inputs to determine fair value during the three and nine months ended June 30, 2022, is as follows (in thousands): Earn-out Liability Balance at September 30, 2021 $ — Earn-out from business acquisition 26,900 Balance at December 31, 2021 $ 26,900 Measurement period adjustment 1,100 Change in fair value (8,500) Balance at March 31, 2022 $ 19,500 Payment of achieved earn-out threshold (3,500) Change in fair value (11,500) Balance at June 30, 2022 $ 4,500

Defined Benefit Pension Plan (T

Defined Benefit Pension Plan (Tables)	9 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of net periodic benefit cost recognized	The net periodic (benefit) is recognized within Interest and other income, net in the Condensed Consolidated Statements of Operations, and for the three and nine months ended June 30, 2022 and 2021, included the following components: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Interest cost $ 122 $ 142 $ 384 $ 343 Expected return on plan assets (219) (245) (686) (637) Amortization of prior service cost 5 6 15 17 Total net periodic (benefit) $ (92) $ (97) $ (287) $ (277)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 GovDeals: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues 16,587 14,658 45,130 36,448 Total revenue 16,587 14,658 45,130 36,448 Segment gross profit $ 15,765 $ 13,965 $ 42,913 $ 34,544 RSCG: Purchase revenues $ 33,788 $ 35,923 $ 99,838 $ 95,997 Consignment and other fee revenues 8,586 8,172 23,045 22,086 Total revenue 42,374 44,095 122,883 118,083 Segment gross profit $ 15,942 $ 17,755 $ 46,818 $ 48,315 CAG: Purchase revenues $ 1,719 $ 1,939 $ 9,271 $ 8,905 Consignment and other fee revenues 6,077 6,528 18,725 16,967 Total revenue 7,796 8,467 27,996 25,872 Segment gross profit $ 6,271 $ 7,099 $ 21,076 $ 20,445 Machinio: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues 3,109 2,446 8,839 6,801 Total revenue 3,109 2,446 8,839 6,801 Segment gross profit $ 2,956 $ 2,304 $ 8,379 $ 6,399 Corporate & Other, including elimination adjustments: Purchase revenues $ — $ — $ — $ — Consignment and other fee revenues — — — — Total revenue — — — — Segment gross profit $ — $ — $ — $ — Consolidated: Purchase revenues $ 35,507 $ 37,862 $ 109,109 $ 104,902 Consignment and other fee revenues 34,359 31,804 95,739 82,302 Total revenue 69,866 69,666 204,848 187,204 Segment gross profit $ 40,934 $ 41,123 $ 119,186 $ 109,703
Reconciliation of revenue from segments to consolidated	The following table reconciles segment 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) 2022 2021 2022 2021 Reconciliation: Segment gross profit $ 40,934 $ 41,123 $ 119,186 $ 109,703 Total operating expenses 33,739 32,529 103,026 90,845 Fair value adjustment of acquisition earn-outs (11,500) — (20,000) — Interest and other expenses (income), net 104 (254) (73) (468) Income before provision for income taxes $ 18,591 $ 8,848 $ 36,233 $ 19,326

Organization (Details)

Organization (Details)	9 Months Ended
	Jun. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)				3 Months Ended		9 Months Ended		66 Months Ended
	May 17, 2021	Oct. 10, 2019	Sep. 30, 2015	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Contract asset				$ 900,000		$ 900,000			$ 600,000
Contract liability				4,900,000		4,900,000			4,600,000
Contract liability recognized as revenue						4,300,000
Capitalized contract cost, amortization				300,000	$ 200,000	800,000	$ 500,000
Interest income				$ (104,000)	254,000	$ 73,000	$ 468,000
Loss on sale of financing receivable					$ 1,100,000
Cost of Goods | Contract With Commercial Client | Supplier Concentration Risk
Business Acquisition [Line Items]
Concentration risk percentage				61.10%	63.50%	57.70%	61.70%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Business Acquisition [Line Items]
Remaining performance obligation, period				12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | Machinio
Business Acquisition [Line Items]
Remaining performance obligation				$ 4,900,000		$ 4,900,000
Tanager Acquisitions Promissory Note
Business Acquisition [Line Items]
Receivable with imputed interest, face amount			$ 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
Prepaid Expenses and Other Current Assets
Business Acquisition [Line Items]
Contract costs				$ 1,800,000		$ 1,800,000			$ 1,600,000

Bid4Assets Acquisition - Narrat

Bid4Assets Acquisition - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 01, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Business combination, earn out consideration		$ 4,500		$ 4,500
Goodwill		89,247		89,247	$ 59,872	$ 59,839
Intangible assets		16,500		16,500
Fair Value, Inputs, Level 3 | Recurring basis
Business Acquisition [Line Items]
Earn-out from business acquisition	$ 28,000		$ 26,900	$ 28,000
Bid4Assets
Business Acquisition [Line Items]
Goodwill, purchase accounting adjustments		$ 1,100
Consideration transferred	42,739
Cash consideration	14,700
Business combination, consideration transferred, other	300
Business combination, earn out consideration in cash	37,500
Goodwill	29,960
Intangible assets	16,500
Bid4Assets | Contract intangibles
Business Acquisition [Line Items]
Intangible assets	$ 13,900
Useful Life (in years)	8 years
Bid4Assets | Developed software
Business Acquisition [Line Items]
Intangible assets	$ 2,200
Useful Life (in years)	3 years
Bid4Assets | Trade name
Business Acquisition [Line Items]
Intangible assets	$ 400
Useful Life (in years)	3 years
Bid4Assets | Fair Value, Inputs, Level 3 | Recurring basis
Business Acquisition [Line Items]
Earn-out from business acquisition	$ 28,000

Bid4Assets Acquisition - Alloca

Bid4Assets Acquisition - Allocation of the Purchase Price to the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Nov. 01, 2021	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Intangible assets		$ 16,500
Goodwill		$ 89,247	$ 59,872	$ 59,839
Bid4Assets
Business Acquisition [Line Items]
Cash and cash equivalents	$ 3,576
Intangible assets	16,500
Other assets	346
Total assets acquired	20,422
Payables to sellers	3,715
Operating lease liabilities	204
Deferred tax liabilities	3,724
Total liabilities assumed	7,642
Net identifiable assets acquired	12,780
Goodwill	29,960
Consideration transferred	$ 42,739

Bid4Assets Acquisition - Intang

Bid4Assets Acquisition - Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Nov. 01, 2021	Jun. 30, 2022
Business Acquisition [Line Items]
Fair Value		$ 16,500
Bid4Assets
Business Acquisition [Line Items]
Fair Value	$ 16,500
Bid4Assets | Contract intangibles
Business Acquisition [Line Items]
Useful Life (in years)	8 years
Fair Value	$ 13,900
Bid4Assets | Developed software
Business Acquisition [Line Items]
Useful Life (in years)	3 years
Fair Value	$ 2,200
Bid4Assets | Trade name
Business Acquisition [Line Items]
Useful Life (in years)	3 years
Fair Value	$ 400

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income	$ 16,408	$ 11,970	$ 3,602	$ 8,419	$ 5,260	$ 4,514	$ 31,979	$ 18,193
Denominator:
Basic weighted average shares outstanding	31,908,864			33,371,906			32,482,326	33,345,580
Dilutive impact of stock options, RSUs and RSAs (in shares)	1,169,704			2,065,855			1,530,907	1,661,318
Diluted weighted average shares outstanding	33,078,568			35,437,761			34,013,233	35,006,898
Basic income per common share (in dollars per share)	$ 0.51			$ 0.25			$ 0.98	$ 0.55
Diluted income per common share (in dollars per share)	$ 0.50			$ 0.24			$ 0.94	$ 0.52
Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive	1,303,147			198,308			1,290,073	592,588

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 30, 2022
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	4 years 7 months 6 days

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Finance lease – lease asset amortization	$ 19	$ 18	$ 61	$ 50
Finance lease – interest on lease liabilities	5	4	15	14
Operating lease cost	1,406	1,218	4,318	3,873
Impairment of long-lived and other assets	0	0	0	172
Short-term lease cost	101	45	218	166
Variable lease cost	405	360	958	1,178
Sublease income	(22)	(34)	(90)	(141)
Total net lease cost	$ 1,914	$ 1,611	$ 5,480	$ 5,312

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
2022	$ 1,408
2023	5,293
2024	4,392
2025	3,600
2026	2,139
Thereafter	396
Total lease payments	17,228
Less: imputed interest	(1,748)
Total lease liabilities	15,480
Finance Leases
2022	29
2023	117
2024	97
2025	69
2026	66
Thereafter	12
Total lease payments	390
Less: imputed interest	(39)
Total lease liabilities	$ 351
Operating leases, weighted average remaining lease term	3 years 6 months
Finance leases, weighted average remaining lease term	3 years 9 months 18 days
Operating leases, weighted average discount rate	6.20%
Finance leases, weighted average discount rate	5.50%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash paid for amounts included in operating lease liabilities	$ 3,190	$ 3,225
Cash paid for amounts included in finance lease liabilities	75	35
Non-cash: lease liabilities arising from new operating lease assets obtained	4,664	885
Non-cash: lease liabilities arising from new finance lease assets obtained	179	130
Non-cash: adjustments to lease assets and liabilities	$ (196)	$ 3,705

Goodwill - Changes in Goodwill

Goodwill - Changes in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Sep. 30, 2021
Goodwill
Balance at the beginning of the period	$ 59,872	$ 59,839
Bid4Assets acquisition	29,960
Translation adjustments	(585)	33
Balance at the end of the period	89,247	59,872
CAG
Goodwill
Balance at the beginning of the period	21,583	21,550
Bid4Assets acquisition	0
Translation adjustments	(585)	33
Balance at the end of the period	20,998	21,583
GovDeals
Goodwill
Balance at the beginning of the period	23,731	23,731
Bid4Assets acquisition	29,960
Translation adjustments	0	0
Balance at the end of the period	53,691	23,731
Machinio
Goodwill
Balance at the beginning of the period	14,558	14,558
Bid4Assets acquisition	0
Translation adjustments	0	0
Balance at the end of the period	$ 14,558	$ 14,558

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Goodwill acquired				$ 29,960
Fair value adjustments of acquisition earn-outs	$ 11,500		$ 0	20,000	$ 0
Fair Value, Inputs, Level 3 | Recurring basis
Segment Reporting Information [Line Items]
Fair value adjustments of acquisition earn-outs	$ (11,500)	$ (8,500)
GovDeals
Segment Reporting Information [Line Items]
Goodwill acquired				$ 29,960

Intangible Assets - Carrying Am

Intangible Assets - Carrying Amount (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 24,679	$ 8,160
Accumulated Amortization	(7,443)	(4,707)
Total	17,236	3,453
Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,000	3,100
Accumulated Amortization	(3,225)	(1,679)
Total	13,775	1,421
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,300	2,700
Accumulated Amortization	(2,738)	(1,755)
Total	2,562	945
Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,379	2,360
Accumulated Amortization	(1,480)	(1,273)
Total	$ 899	$ 1,087
Minimum | Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	6 years
Minimum | Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	3 years
Minimum | Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	3 years
Maximum | Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	8 years
Maximum | Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	5 years
Maximum | Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	10 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets	$ 16.5		$ 16.5
Amortization of intangible assets	$ 1	$ 0.3	$ 2.7	$ 1

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Future expected amortization of intangible assets
Remainder of 2022	$ 983
2023	3,792
2024	3,255
2025	2,014
2026 and thereafter	7,192
Total	$ 17,236	$ 3,453

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Contingency [Line Items]
Effective tax rate	1,170%	5.90%
Bid4Assets
Income Tax Contingency [Line Items]
Business combination, step acquisition, equity interest in acquiree, remeasurement gain	$ 20

Debt (Details)

Debt (Details) - USD ($)	Feb. 10, 2022	Jun. 30, 2022
Credit Agreement
Debt Instrument [Line Items]
Amount outstanding		$ 0
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.05%
Line of credit facility, commitment fee percentage	1.25%
Revolving Credit Facility | Minimum | Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Revolving Credit Facility | Maximum | Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Revolving Credit Facility | Wells Fargo Bank, N.A
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000,000
Letter of Credit | Wells Fargo Bank, N.A
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10,000,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Stockholders' Equity
Balance (in shares)			35,457,095				35,457,095	35,457,095
Balance	$ 132,989	$ 137,079	$ 135,015	$ 106,938	$ 115,063	$ 111,815	$ 135,015	$ 135,015	$ 111,815
Net income	16,408	11,970	3,602	8,419	5,260	4,514		$ 31,979	$ 18,193
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units			1	0	155	197
Taxes paid associated with net settlement of stock compensation awards	(92)	(958)	(851)	$ (343)	(3,145)	(57)
Common stock repurchased	$ (5,450)	(17,035)	(2,963)		(12,040)	(4,103)
Common stock surrendered in the exercise of stock options			0		0	0
Common stock surrendered in the exercise of stock options (in shares)	0			0				(4,678)	(82,612)
Stock compensation expense	$ 1,984	2,102	2,270	$ 1,525	1,522	1,801
Foreign currency translation				22	123	896
Balance (in shares)	35,576,454							35,576,454
Balance	$ 144,669	$ 132,989	$ 137,079	$ 116,561	$ 106,938	$ 115,063	$ 132,989	$ 144,669	$ 116,561
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance (in shares)	35,563,988	35,533,071	35,457,095	35,115,307	34,212,815	34,082,406	35,457,095	35,457,095	34,082,406
Balance	$ 36	$ 36	$ 35	$ 35	$ 34	$ 34	$ 35	$ 35	$ 34
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)	18,373	320,943	131,070	318,242	1,079,955	151,845
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units			$ 1		$ 1
Taxes paid associated with net settlement of stock compensation awards (in shares)	(5,907)	(47,124)	(40,239)	(15,834)	(177,463)	(7,703)
Forfeiture of restricted stock awards (in shares)		(242,902)	(14,855)			(13,733)
Balance (in shares)	35,576,454	35,563,988	35,533,071	35,417,715	35,115,307	34,212,815	35,563,988	35,576,454	35,417,715
Balance	$ 36	$ 36	$ 36	$ 35	$ 35	$ 34	$ 36	$ 36	$ 35
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity
Balance	254,680	253,536	252,017	249,866	250,002	247,892	252,017	252,017	247,892
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units				0	154	197
Taxes paid associated with net settlement of stock compensation awards	(92)	(958)	(851)	(343)	(3,145)	(57)
Common stock surrendered in the exercise of stock options			100		1,333	169
Stock compensation expense	1,984	2,102	2,270	1,525	1,522	1,801
Balance	$ 256,572	$ 254,680	$ 253,536	251,048	249,866	$ 250,002	$ 254,680	$ 256,572	$ 251,048
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Balance				$ 21,628	$ 8,255
Balance (in shares)	3,385,827	2,373,946	2,222,083	1,587,199,000	866,388,000	547,508,000	2,222,083	2,222,083	547,508,000
Balance	$ 56,726	$ 39,691	$ 36,628			$ 3,983	$ 36,628	$ 36,628	$ 3,983
Common stock repurchased (in shares)	(408,211)	(1,011,881)	(147,185)		(647,583,000)	(309,496,000)
Common stock repurchased	$ (5,450)	$ (17,035)	$ (2,963)		$ (12,040)	$ (4,103)
Common stock surrendered in the exercise of stock options			$ (100)		$ (1,333)	$ (169)
Common stock surrendered in the exercise of stock options (in shares)			(4,678)		(73,228,000)	(9,384,000)
Balance				$ 21,628	$ 21,628	$ 8,255			$ 21,628
Balance (in shares)	3,794,038	3,385,827	2,373,946	1,587,199,000	1,587,199,000	866,388,000	3,385,827	3,794,038	1,587,199,000
Balance	$ 62,176	$ 56,726	$ 39,691				$ 56,726	$ 62,176
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance	(9,311)	(9,142)	(9,011)	$ (8,763)	$ (8,886)	$ (9,782)	(9,011)	(9,011)	$ (9,782)
Foreign currency translation				23	123	896
Balance	(10,481)	(9,311)	(9,142)	(8,740)	(8,763)	(8,886)	(9,311)	(10,481)	(8,740)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity
Balance	(55,690)	(67,660)	(71,398)	(112,572)	(117,832)	(122,346)	(71,398)	(71,398)	(122,346)
Net income	16,408	11,970	3,602	8,419	5,260	4,514
Foreign currency translation				(1)
Balance	$ (39,282)	$ (55,690)	$ (67,660)	$ (104,154)	$ (112,572)	$ (117,832)	$ (55,690)	$ (39,282)	$ (104,154)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Mar. 31, 2022

Jun. 30, 2022

Jun. 30, 2021

May 13, 2022

Dec. 06, 2021

Sep. 30, 2021

Stockholders' Equity

Shares reserved for issuance

20,300,000

19,100,000

19,100,000

20,300,000

Number of shares counted for grants of full value awards from reserve

1.5

1.5

Number of shares available for grant

2,353,049

2,353,049

Share price, term of average price

20 days

Remaining number of shares authorized to be repurchased

0

Amount yet to be expended under the program

$ 6,600

Treasury stock, value, acquired, cost method

$ 5,450

$ 17,035

$ 2,963

$ 12,040

$ 4,103

Stock repurchase program, authorized amount

$ 12,000

Common stock surrendered in the exercise of stock options (in shares)

0

0

4,678

82,612

December 6, 2021 Stock Repurchase Plan

Stockholders' Equity

Amount yet to be expended under the program

$ 20,000

Shares repurchased

1,159,066

Treasury stock, value, acquired, cost method

$ 20,000

June 30, 2024 Stock Repurchase Plan

Stockholders' Equity

Shares repurchased

408,211

Treasury stock, value, acquired, cost method

$ 5,400

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

Restricted Stock - Market Based

Stockholders' Equity

Shares and options vesting period

4 years

Stock Option - Market-Based

Stockholders' Equity

Shares and options vesting period

4 years

SARs

Stockholders' Equity

Shares issued

0

Exercised (in shares)

7,475

Cash paid to settle stock appreciation rights

$ 100

Canceled (in shares)

3,250

Outstanding (in shares)

31,320

31,320

Stockholders' Equity - Stock Ba

Stockholders' Equity - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stockholders' Equity
Total stock compensation expense:	$ 1,884	$ 1,803	$ 6,156	$ 5,793
Stock Options and RSUs and RSAs
Stockholders' Equity
Total equity-classified awards	1,983	1,525	6,356	4,848
Stock options
Stockholders' Equity
Total equity-classified awards	505	762	2,097	2,491
RSUs & RSAs
Stockholders' Equity
Total equity-classified awards	1,478	763	4,259	2,357
SARs
Stockholders' Equity
Share-based payment arrangement, expense, liability awards	$ (99)	$ 278	$ (200)	$ 945

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Based Compensation Expense by Function (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Technology and operations
Stockholders' Equity
Stock compensation expense	$ 321	$ 261	$ 906	$ 885
Sales and marketing
Stockholders' Equity
Stock compensation expense	464	459	1,496	1,493
General and administrative
Stockholders' Equity
Stock compensation expense	1,099	1,083	3,754	3,415
Total stock compensation expense:
Stockholders' Equity
Stock compensation expense	$ 1,884	$ 1,803	$ 6,156	$ 5,793

Stockholders' Equity - Grant Ac

Stockholders' Equity - Grant Activity (Details)	9 Months Ended
	Jun. 30, 2022 $ / shares shares
Stock Option - Service Based
Stock Options granted:
Options granted (in shares) | shares	131,712
Weighted average exercise price (USD per share) | $ / shares	$ 22.13
Weighted average grant date fair value (USD per share) | $ / shares	$ 10.83
Stock Option - Market-Based
Stock Options granted:
Options granted (in shares) | shares	129,945
Weighted average exercise price (USD per share) | $ / shares	$ 22.17
Weighted average grant date fair value (USD per share) | $ / shares	$ 10.30
Restricted Stock - Service Based
RSUs & RSAs granted:
Restricted shares granted | shares	354,934
Weighted average grant date fair value (USD per share) | $ / shares	$ 21.78
Restricted Stock - Market Based
RSUs & RSAs granted:
Restricted shares granted | shares	451,085
Weighted average grant date fair value (USD per share) | $ / shares	$ 18.84
Restricted Stock Units (RSUs) - Service Condition
RSUs & RSAs granted:
Restricted shares granted | shares	55,000
Restricted Stock Units (RSUs) - Performance Condition
RSUs & RSAs granted:
Restricted shares granted | shares	70,000

Stockholders' Equity - Fair Val

Stockholders' Equity - Fair Value (Details)	9 Months Ended
	Jun. 30, 2022
Employee Stock Option
Stockholders' Equity
Dividend yield percentage	0%
Expected volatility, minimum percentage	57%
Expected volatility, maximum percentage	61.20%
Risk free interest rate, minimum percentage	1.10%
Risk free interest rate, maximum percentage	1.80%
Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Dividend yield percentage	0%
Expected volatility, minimum percentage	57.20%
Expected volatility, maximum percentage	62.90%
Risk free interest rate, minimum percentage	1.10%
Risk free interest rate, maximum percentage	1.50%
Minimum | Employee Stock Option
Stockholders' Equity
Expected term	4 years 6 months
Minimum | Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Expected holding period percentage	29.40%
Maximum | Employee Stock Option
Stockholders' Equity
Expected term	7 years 4 months 24 days
Maximum | Stock Options, Restricted Stock Units And Stock Appreciation Rights, Market-Based
Stockholders' Equity
Expected holding period percentage	100%

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($)		3 Months Ended				9 Months Ended
	Nov. 01, 2021	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		$ 20,000,000				$ 20,000,000		$ 40,000,000
Fair value adjustments of acquisition earn-outs		(11,500,000)			$ 0	(20,000,000)	$ 0
Business combination, earn out consideration		4,500,000				4,500,000
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, net asset (liability)								0
Fair Value, Inputs, Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out from business acquisition	$ 28,000,000			$ 26,900,000		28,000,000
Measurement period adjustment			$ 1,100,000			1,100,000
Fair value adjustments of acquisition earn-outs		11,500,000	8,500,000
Fair Value, measurement with unobservable inputs reconciliation, recurring basis, liability value		4,500,000	$ 19,500,000	$ 26,900,000		$ 4,500,000		$ 0
Payment of achieved earn-out threshold		$ (3,500,000)
Fair Value, Inputs, Level 3 | Recurring basis | Bid4Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out from business acquisition	$ 28,000,000

Fair Value Measurement - Contin

Fair Value Measurement - Contingent Consideration (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
	Nov. 01, 2021	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value		$ 11,500			$ 0	$ 20,000	$ 0
Fair Value, Inputs, Level 3 | Recurring basis
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		19,500	$ 26,900	$ 0		0
Earn-out from business acquisition	$ 28,000			26,900		28,000
Measurement period adjustment			1,100			1,100
Change in fair value		(11,500)	(8,500)
Payment of achieved earn-out threshold		(3,500)
Ending balance		$ 4,500	$ 19,500	$ 26,900		$ 4,500

Defined Benefit Pension Plan -

Defined Benefit Pension Plan - Narrative (Details)	Jun. 30, 2022 GBP (£)
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Interest cost	$ 122	$ 142	$ 384	$ 343
Expected return on plan assets	(219)	(245)	(686)	(637)
Amortization of prior service cost	5	6	15	17
Total net periodic (benefit)	$ (92)	$ (97)	$ (287)	$ (277)

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
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	11.90%	14.40%	13.60%	16.20%

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 69,866	$ 69,666	$ 204,848	$ 187,204
Segment gross profit	40,934	41,123	119,186	109,703
Total operating expenses	33,739	32,529	103,026	90,845
Fair value adjustments of acquisition earn-outs	11,500	0	20,000	0
Interest and other expenses (income), net	104	(254)	(73)	(468)
Income before provision for income taxes	18,591	8,848	36,233	19,326
Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenues	16,587	14,658	45,130	36,448
Segment gross profit	15,765	13,965	42,913	34,544
Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenues	42,374	44,095	122,883	118,083
Segment gross profit	15,942	17,755	46,818	48,315
Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenues	7,796	8,467	27,996	25,872
Segment gross profit	6,271	7,099	21,076	20,445
Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenues	3,109	2,446	8,839	6,801
Segment gross profit	2,956	2,304	8,379	6,399
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Segment gross profit	0	0	0	0
Purchase revenues
Segment Reporting Information [Line Items]
Total revenues	35,507	37,862	109,109	104,902
Purchase revenues | Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Purchase revenues | Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenues	33,788	35,923	99,838	95,997
Purchase revenues | Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenues	1,719	1,939	9,271	8,905
Purchase revenues | Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Purchase revenues | Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Consignment and other fee revenues
Segment Reporting Information [Line Items]
Total revenues	34,359	31,804	95,739	82,302
Consignment and other fee revenues | Operating Segments | GovDeals
Segment Reporting Information [Line Items]
Total revenues	16,587	14,658	45,130	36,448
Consignment and other fee revenues | Operating Segments | RSCG
Segment Reporting Information [Line Items]
Total revenues	8,586	8,172	23,045	22,086
Consignment and other fee revenues | Operating Segments | CAG
Segment Reporting Information [Line Items]
Total revenues	6,077	6,528	18,725	16,967
Consignment and other fee revenues | Operating Segments | Machinio
Segment Reporting Information [Line Items]
Total revenues	3,109	2,446	8,839	6,801
Consignment and other fee revenues | Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total revenues	$ 0	$ 0	$ 0	$ 0