Acv Auctions Inc. Stock Price, News & Analysis

ACV (Nasdaq: ACVA) reported a first-quarter revenue of $103 million, marking a 49% increase year-over-year. Despite this growth, the company experienced a GAAP net loss of $29 million and an Adjusted EBITDA loss of $18 million. For 2022, ACV forecasts revenue between $452 million and $460 million, indicating a 26% to 28% year-over-year growth, but also anticipates an Adjusted EBITDA loss of $53 million to $57 million. CEO George Chamoun emphasized the company's strong market share gains and growth in value-added services.

ACV (Nasdaq: ACVA), a leader in online automotive marketplaces, announced its participation in several upcoming investor conferences. Key presentations include:

• Needham 17th Annual Technology and Media Conference on May 17, 2022, at 10:15 AM ET.
• Jefferies Virtual Internet Summit on May 31, 2022, at 1:20 PM ET.
• Bank of America Global Technology Conference on June 7, 2022, at 1:15 PM ET.

Webcasts of these events will be available on ACV's investor relations website, ensuring accessibility for stakeholders.

ACV Capital Launches Self-Service Portal

ACV (Nasdaq: ACVA), a leader in digital automotive marketplaces, has launched a self-service portal for dealer customers. This new platform provides dealers with 24/7 access to critical financial data, including credit line details, payment information, and open invoices. The portal aims to enhance transparency and ease of use, aligning with ACV's commitment to digital solutions. General Manager Shayan Khawja emphasizes that dealer feedback will guide future enhancements, ensuring continual improvement of the financing process.

ACV (Nasdaq: ACVA) will announce its first quarter 2022 financial results on May 11, 2022, after market close. Management will host a conference call at 5:00 p.m. ET to discuss the results. Investors can join the call by dialing (833) 607-1658 or (914) 987-7871, using Conference ID: 7994285. The event will also be available via a live webcast and subsequently archived on the company's investor relations page. ACV aims to revolutionize the automotive industry with its digital marketplace and data solutions for used vehicles.

ACV, a leading digital automotive marketplace, has launched the Carrier by ACV Transportation™ app, designed to streamline vehicle pickup and delivery for registered car haulers across the U.S. This free app enhances efficiency with features like VIN scanning and electronic Bill of Lading, promoting faster payment and reducing liability through photo documentation of vehicle conditions. ACV’s transportation division has seen significant growth, recently surpassing 100 million miles of deliveries, and is set to improve pricing for dealers while enhancing service for their partners.

ACV (Nasdaq: ACVA) announces significant growth, achieving over 2,000 employees in North America, driven by organic growth and strategic acquisitions, including MAX Digital, Drivably, and Monk SAS. The company has also appointed Leanne Fitzgerald as the new Chief Legal Officer, enhancing its senior leadership team. Fitzgerald brings extensive experience in technology law and will manage legal and compliance matters, aiming to foster trust and transparency as ACV continues to innovate in digital automotive solutions.

ACV (Nasdaq: ACVA) showcased new AI capabilities at NADA 2022, focusing on inventory sourcing and consumer acquisition. The company's programmatic buying experience allows dealers to bid automatically on vehicles, significantly enhancing inventory management. Additionally, ACV's Live Appraisal solution connects dealers with consumers, promoting transparency. Recent acquisitions of Drivably and Monk SAS expand ACV's data services and consumer acquisition tools, solidifying its role as a trusted digital partner in the automotive market.

ACV (Nasdaq: ACVA) is set to showcase its advanced digital solutions for car dealerships at the upcoming NADA Conference in Las Vegas from March 11-13, 2022. The company aims to address key challenges in the automotive industry, such as inventory shortages and price volatility. Attendees will see live demos of ACV’s latest tools, including consumer inventory acquisition and AI-integrated vehicle appraisal. CEO George Chamoun expressed excitement in demonstrating their innovations that enhance dealership efficiency and transparency.

Rand Capital Corporation (Nasdaq: RAND) reported a 31% increase in total investment income, achieving $4.1 million for 2021. The fourth quarter saw income rise by 17% to $1.2 million. Net asset value per share rose to $23.54, up 32% year-over-year. In 2021, they declared total dividends of $0.44 per share and announced a 50% increase in the first quarter 2022 dividend to $0.15 per share. Total investments for the year reached $19.7 million. Rand repaid $11 million in SBA obligations in Q4, enhancing financial flexibility.