Acv Auctions Inc. Stock Price, News & Analysis

ACV (NASDAQ: ACVA), a leader in online automotive marketplaces, announced that its management team will present at the 2022 Raymond James Technology Investors Conference on December 6, 2022, at 11:30 AM ET. A live webcast will be available on their investor relations website, with an archived replay accessible after the event. ACV aims to revolutionize the automotive industry by providing a trusted digital marketplace and data solutions for used vehicle transactions. Their brands include ACV Auctions, ACV Transportation, and ACV Capital.

ACV (Nasdaq: ACVA), a leading digital automotive marketplace, is participating as a platinum-level sponsor at Used Car Week 2022 in San Diego from November 14-17. Executives will engage in various workshops and panels, focusing on enhancing the digital car-buying experience. Key presentations include topics on tech-enabled inspections, sourcing quality used car inventory, and operational efficiencies. The event aligns with ACV's mission to transform the automotive industry through innovative marketplace solutions.

ACV reported third quarter 2022 revenue of $105 million, marking a 15% year-over-year increase. The company experienced a GAAP net loss of $24 million and an Adjusted EBITDA loss of $12 million, but achieved an Adjusted EBITDA margin expansion of approximately 200 basis points compared to the previous year. For 2022, ACV forecasts revenue between $421 million and $424 million, reflecting a 17% to 18% growth. However, it cautions of challenges in the automotive market, impacting wholesale volumes and auction conversion rates.

On November 7, 2022, ACV (Nasdaq: ACVA) announced upcoming presentations at key investor conferences. The management team will participate in the Stephens Annual Investment Conference on November 17, 2022, at 10:00 AM ET, and the Needham 2nd Annual Consumer Tech/E-Commerce Virtual Conference on November 21, 2022, at 11:30 AM ET. Investors can access live webcasts on the Company’s investor relations website, with archived replays available post-event. ACV aims to enhance the automotive industry through advanced digital marketplace solutions.

Rand Capital Corporation (Nasdaq: RAND) reported a 54% increase in total investment income, reaching $1.6 million for Q3 2022, driven by higher interest and dividend income. Net investment income per share surged to $0.39 from $0.02 year-over-year. The net asset value per share rose to $22.62. The company made a $400,000 follow-on equity investment in ITA Acquisitions LLC. Total expenses decreased significantly to $499,000, reflecting prudent expense management. Cash reserves improved, totaling $1.0 million. A dividend of $0.15 per share was declared on July 28, 2022, and paid in Q3.

ACV (Nasdaq: ACVA) announced it will report third quarter 2022 financial results after the market closes on November 9, 2022. A conference call will follow at 5:00 p.m. ET, allowing investors to discuss the results and ask questions. Participants can access the call via pre-registration and will receive confirmation with dial-in details. The event will also be available as a live webcast, which will later be archived on the company's investor relations page. ACV aims to revolutionize the automotive industry through a trusted digital marketplace and data solutions.

ACV (Nasdaq: ACVA), a digital automotive marketplace, has advanced its Virtual Lift™ technology, enhancing vehicle inspections with machine learning to detect catalytic converters accurately. In 2021, over 52,000 catalytic converter thefts were reported, a 13-fold increase since 2019, leading to potential losses of up to $2,000 per vehicle for dealers. ACV's innovations help protect dealers in a challenging market by ensuring transparency and accuracy in vehicle condition assessments, thereby maximizing profitability.

ACV announces enhancements to its digital solutions through partnerships with HGreg, utilizing Drivably and Monk technologies. These solutions improve consumer sourcing and internal operations for car dealerships. HGreg expands the Drivably platform across its U.S. franchise stores after a successful pilot. The integration of Monk's AI technology aims to standardize vehicle inspections, enhance reporting accuracy, and streamline used car trade-ins and sales. The collaboration seeks to bolster transparency and efficiency within the automotive industry.

ACV (Nasdaq: ACVA) has announced that its management team will present at several upcoming investor conferences. These include the Citi 2022 Global Technology Conference on September 7, 2022, at 4:00 PM ET, the Goldman Sachs Communacopia & Technology Conference on September 12, 2022, at 3:45 PM PT, and the Piper Sandler Growth Frontiers Conference on September 14, 2022, at 4:00 PM CT. Webcasts will be available on the company’s investor relations website, with archived replays accessible post-event.