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. (ACVA) drives innovation in wholesale automotive transactions through its mobile-first digital marketplace. This page serves as the definitive source for ACVA news, providing investors and industry professionals with timely updates on strategic developments, operational milestones, and market leadership in digital vehicle auctions.
Access curated press releases and analysis covering key areas including quarterly earnings reports, technology enhancements to the auction platform, strategic dealer partnerships, and regulatory updates. Our repository ensures you stay informed about ACVA's role in modernizing wholesale transactions through 20-minute digital auctions and data-driven dealer solutions.
All content is rigorously verified to deliver accurate insights into ACVA's marketplace expansion, inventory management tools, and industry trends impacting the automotive auction sector. Bookmark this page for streamlined access to critical updates that shape investment decisions in the evolving digital wholesale landscape.
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.
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