Acv Auctions Inc. Stock Price, News & Analysis

ACV (Nasdaq: ACVA) will showcase its consumer vehicle acquisition solutions, ACV MAX and ClearCar, at the 2024 Digital Dealer Conference and Expo. These integrated solutions streamline the consumer vehicle acquisition process with precise, condition-enhanced valuations. ACV MAX offers a suite of appraisal, merchandising, and pricing tools, while ClearCar enhances the trade-in process.

The new ACV MAX Appraisal tool uses AI technology for accurate exterior damage detection and pricing. ACV MAX is available in two versions: Inventory and Appraisal. Lester Glenn, a nine-rooftop automotive group, reported significant improvements in closing rates and wholesale gross profits using ACV's solutions.

ACV's CEO, George Chamoun, emphasized the company's commitment to providing dealers with data-driven insights and innovative tools to stay competitive in the evolving automotive market.

ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner, has announced its participation in three upcoming investor conferences. The company's management team will present at:

• Canaccord Genuity 44th Annual Growth Conference on August 13, 2024 at 4:00 p.m. ET
• Citi 2024 Global TMT Conference on September 4, 2024 at 4:40 p.m. ET
• Goldman Sachs Communacopia + Technology Conference on September 10, 2024 at 3:45 p.m. PT

Webcasts of these events will be available on ACV's investor relations website, with archived replays accessible after the live presentations.

ACV (ACVA) reported strong second quarter 2024 results, with revenue of $161 million, a 29% year-over-year increase, exceeding the high-end of guidance. Marketplace and Service Revenue grew 32% to $144 million. Despite a 1% decrease in Marketplace GMV to $2.4 billion, Marketplace Units increased by 22% to 186,526. The company reported a GAAP net loss of $17 million but achieved non-GAAP net income of $3 million and Adjusted EBITDA of $7 million.

For the full-year 2024, ACV expects revenue between $615-$625 million, representing 28-30% growth year-over-year. The company anticipates a GAAP net loss of $80-$85 million but projects non-GAAP net income of $3-$8 million and Adjusted EBITDA of $21-$25 million. ACV's guidance assumes modest improvement in dealer wholesale volumes and normal seasonal patterns in conversion rates and wholesale price depreciation.

ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner, has announced it will report its second quarter 2024 financial results after market close on August 7, 2024. The company will also host a conference call at 5:00 p.m. ET on the same day to discuss the results. Investors and analysts can participate by dialing 877-704-4453 (or 1-201-389-0920 for international callers) approximately 10 minutes before the call starts. A live webcast of the call will be available on ACV's investor relations website, with an archived replay accessible after the event.

ACV, a leading digital automotive marketplace and data services partner, will participate in upcoming investor conferences. Members of the management team will present at the 19th Annual Needham Technology, Media, & Consumer Conference on May 16, 2024, and the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference on May 21, 2024. Webcasts will be available on the investor relations website.

ACV reported strong first-quarter results with revenue growth of 22%, reaching $146 million. The company achieved its first profitable quarter as a public company on a non-GAAP basis, with Adjusted EBITDA at the high end of guidance. ACV expects 2024 revenue to be between $610 million and $625 million, showing a growth of 27% to 30% year over year.

ACV (Nasdaq: ACVA) is helping dealerships optimize revenue streams with their innovative products, ClearCar, ACV MAX, and ACV Auctions. Lester Glenn Auto Group saw increased revenue and operational efficiencies by leveraging ACV's data-driven solutions. ClearCar facilitates consumer trade-ins, ACV MAX enables inventory turnover and profitable decisions, and ACV Auctions provides a transparent wholesale marketplace. Lester Glenn's wholesale gross profits increased by 140% in 2023 due to their partnership with ACV, showcasing the effectiveness of ACV's solutions in the automotive industry.