Welcome to our dedicated page for Acv Auctions news (Ticker: ACVA), a resource for investors and traders seeking the latest updates and insights on Acv Auctions stock.
ACV Auctions Inc. (NYSE: ACVA) is a digital automotive marketplace and data services partner for dealers and commercial clients, and its news flow reflects activity across the wholesale used-vehicle ecosystem. Company announcements frequently focus on marketplace performance, dealer adoption of its solutions and developments in its portfolio of services, including ACV Auctions, ACV Transportation, ACV Capital, MAX Digital or ACV MAX, True360 and ClearCar.
Investors and industry participants following ACV news can expect regular updates on quarterly financial results, where the company reports revenue trends, marketplace and service revenue, Marketplace GMV, Marketplace Units, GAAP net income (loss), non-GAAP net income and Adjusted EBITDA. These earnings releases often include management commentary on dealer wholesale market conditions, adoption of marketplace services and the progress of ACV’s commercial wholesale strategy.
ACV’s news also highlights product and program developments on its platform. Examples include the expansion of its No Reserve Sale format, which offers zero-reserve auctions with guaranteed offers for sellers and competitive bidding for buyers, and educational initiatives such as digital roundtable series that share strategies for sourcing vehicles from consumers and improving inventory turn times. The company additionally issues updates on its participation in industry conferences, where its leaders discuss topics like pricing science, fraud prevention in vehicle transport and the outlook for wholesale remarketing.
For readers interested in how data and technology are shaping wholesale automotive, ACV’s news coverage provides insight into its use of structured data and AI for pricing intelligence, appraisals and inventory management. Bookmarking this page offers a centralized view of ACV’s earnings releases, product announcements, event participation and other corporate developments that influence its role in the digital wholesale vehicle market.
ACV (Nasdaq: ACVA) is participating as a presenting sponsor at the National Independent Auto Dealers Association 2021 Convention and Expo in San Antonio, TX. The event features keynote speaker Michael Irvin, a three-time Super Bowl champion, on August 25, with opportunities for attendees to engage with ACV Auctions team. New customers can receive $350 in buying credits and a $200 Amazon gift card after their first purchase. ACV Auctions will also host workshops on various auto industry topics, enhancing its visibility and engagement within the marketplace.
ACV (Nasdaq: ACVA) reported a strong second quarter in 2021 with total revenue reaching $97.4 million, a 117% increase year-over-year. Despite a GAAP net loss of $9.7 million, up from $4.4 million in Q2 2020, the company raised its revenue guidance for the full year to $332 to $338 million, reflecting expected growth of 59% to 62%. Key performance indicators included a 234% increase in marketplace GMV, reaching $2.1 billion, and a strong adoption of value-added services.
ACV (Nasdaq: ACVA) announced it will release its second quarter 2021 financial results after market close on August 11, 2021. A conference call and live webcast will follow at 5:00 p.m. ET to discuss the results. Additionally, ACV's management will present at Canaccord Genuity’s 41st Annual Growth Conference on August 12, 2021, at 1:30 p.m. ET. Archived webcasts will be available on the company’s investor relations website following both events.
ACV (Nasdaq: ACVA) announced its acquisition of MAX Digital, valued at $60 million. MAX Digital is known for its FirstLook inventory management system and SaaS-based software that aids dealers in pricing vehicles and maximizing profits using predictive analytics. This acquisition will enhance ACV's digital capabilities, offering better inventory guidance and sales tools. MAX Digital will operate as an independent unit under former CEO Robert Granados, preserving its brand identity while being integrated into ACV's existing network of services.
ACV (Nasdaq: ACVA) has announced new title-dependent financing products via ACV Capital, enhancing services for dealers and commercial partners. The offerings aim to increase trust and transparency in digital auctions by extending title receipt and payment periods. Key products include a 90-day floorplan floating period, a payment extension to 45 days for title processing, and a revolving line of credit for high-volume sellers. These enhancements are based on dealer feedback to improve operational efficiency and cash flow management.
ACV Auctions Inc. (NASDAQ: ACVA) announced participation in key investor conferences. Management will present at:
- The J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 26, 2021 at 10:25 AM ET.
- The Morgan Stanley Digital Auto Retail Disruption Day on June 10, 2021 at 9:45 AM ET.
- The BofA Securities 2021 Global Technology Conference on June 10, 2021 at 4:00 PM ET.
Webcasts will be accessible via the company's investor relations site, with archived replays available post-event.
ACV Auctions reported a strong first quarter 2021, with revenue of $69.1 million, marking a 64% year-over-year increase. The GAAP net loss decreased to $17.4 million from $27.5 million in Q1 2020. Adjusted EBITDA loss improved to $12.4 million from $24.4 million. The company initiated guidance for Q2 2021, expecting revenue between $72 to $75 million, and for the full year, revenue guidance is set at $307 to $313 million, reflecting 47% to 50% growth.
ACV Auctions (Nasdaq: ACVA) will report its first quarter fiscal 2021 financial results on May 13, 2021, after market close. A conference call and live webcast will follow at 5:00 p.m. ET, accessible via phone or online. The event allows investors to gain insights into the company’s financial performance and future outlook. ACV focuses on providing a digital marketplace for wholesale vehicle transactions, leveraging technology to ensure transparency and efficiency in the used vehicle market.
On March 26, 2021, ACV Auctions completed its initial public offering, selling 19,032,500 shares of Class A common stock at $25.00 each. The sale included 2,482,500 shares purchased by underwriters. Of the total, ACV directly sold 16,550,000 shares. The IPO was facilitated by Goldman Sachs, J.P. Morgan, and Citigroup, among others, with ACV’s stock trading under the symbol 'ACVA' on Nasdaq. No proceeds from the offering were received by ACV from the selling stockholders.
ACV Auctions has priced its initial public offering of 16,550,000 shares of Class A common stock at $25.00 per share. The offering includes a 30-day option for underwriters to purchase an additional 2,482,500 shares for over-allotments. Shares are set to trade on the Nasdaq under the symbol ACVA starting March 24, 2021, with the offering expected to close on March 26, 2021. Notably, ACV will not receive proceeds from the shares sold by selling stockholders. Major underwriters include Goldman Sachs, J.P. Morgan, and Citigroup.
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