The upcoming report from ACV Auctions Inc. (ACVA) is expected to reveal quarterly loss of $0.04 per share, indicating an increase of 75% compared to the year-ago period. Analysts forecast revenues of $117.62 million, representing an increase of 20.1% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announcement, ...

The stock market in 2024 is off to a promising start, especially for growth stocks with millionaire potential that have reached a larger scale. However, it’s still difficult to predict where things may end up in the coming months. From my perspective, I don’t foresee a drastic downturn, at least for the first half of 2024, given the current projections for strong GDP growth and a robust job market. These tailwinds suggest growth stocks should continue performing well over the next few months.Now feels like ...

Group 1 - ACV will report its fourth quarter 2023 financial results after market close on February 21, 2024, and will host a conference call at 5:00 p.m. ET [1] - A live webcast of the conference call will be available on the Company's investor relations website, with an archived replay accessible after the event [1] Group 2 - ACV aims to transform the automotive industry by creating a trusted and efficient digital marketplace and data solutions for sourcing, selling, and managing used vehicles [2] - The offerings of ACV include ACV Auctions, ACV Transportation, ACV Capital, MAX Digital, True360, and ClearCar [2]

BUFFALO, N.Y., Jan. 11, 2024 (GLOBE NEWSWIRE) -- ACV (NASDAQ:ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial clients, will be taking center stage at the 2024 National Automobile Dealers Association (NADA) Show in Las Vegas. The company is focused on helping dealers "WIN with ACV" and excel in consumer acquisition, vehicle pricing and more. ACV has end-to-end solutions to help partners solve these challenges, and the team looks forward to engaging with d ...

ACV Auctions Inc. (NASDAQ:ACVA) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET Company Participants Tim Fox - Vice President, Investor Relations George Chamoun - Chief Executive Officer William Zerella - Chief Financial Officer Conference Call Participants Chris Pierce - Needham & Company Eric Sheridan - Goldman Sachs Nicholas Jones - JMP Securities Ronald Josey - Citi John Colantuoni - Jefferies Bob Labick - CJS Securities Michael Graham - Canaccord Rajat Gupta - JPMorgan Chase Daniel Imbro - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-40256 ACV Auctions Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2415221 (Sta ...

ACV Auctions Inc. (NASDAQ:ACVA) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Tim Fox - Vice President-Investor Relations George Chamoun - Chief Executive Officer Bill Zerella - Chief Financial Officer Conference Call Participants Michael Graham - Canaccord Nick Jones - JMP Securities Eric Sheridan - Goldman Sachs John Colantuoni - Jefferies Naved Khan - B. Riley Christopher Pierce - Needham Ronald Josey - Citi Daniel Imbro - Stephens Rajat Gupta - JPMorgan Gary Prestopino ...

Q 2 - 2 3 E A R N I N G S P R E S E N T A T I O N A U G _ 7 _ 2 0 2 3 FORWARD LOOKING STATEMENTS Statements in this presentation regarding future performance and future expectations, beliefs, goals, plans or prospects include forward looking statements for purposes of federal and state securities laws, including statements regarding ACV’s avenues for long term growth and ...

Financial Performance - For the three and six months ended June 30, 2023, the company sold 153,148 and 304,711 Marketplace Units, resulting in a Marketplace Gross Merchandise Value (GMV) of $2.5 billion and $4.9 billion, representing a decrease of 10% and 5% from the same periods in 2022[82]. - Revenue for the three and six months ended June 30, 2023, was $124.2 million and $243.8 million, reflecting an increase of 8% and 12% respectively compared to the same periods in 2022[82]. - The company reported a net loss of $15.6 million and $33.8 million for the three and six months ended June 30, 2023, compared to a net loss of $24.5 million and $54.0 million for the same periods in 2022[82]. - Adjusted EBITDA for the three and six months ended June 30, 2023, was $(3.5) million and $(9.2) million, an improvement from $(14.1) million and $(32.0) million for the same periods in 2022[82]. - Total revenue for the first half of 2023 reached $243,843,000, compared to $218,137,000 in the same period of 2022[120]. - Marketplace and service revenue for the three months ended June 30, 2023, increased to $109.36 million from $97.75 million, representing a 12% year-over-year growth[124]. - Marketplace and service revenue for the six months ended June 30, 2023, increased to $214.2 million from $186.1 million, a 15% increase year-over-year[139]. Operating Expenses - Operating expenses for Q2 2023 totaled $144,007,000, up from $139,811,000 in Q2 2022[120]. - The company expects operating expenses to increase in absolute dollars as it scales its business and introduces new products and services[112]. - Selling, general, and administrative expenses rose to $41.18 million from $36.14 million, an increase of 14% driven by higher personnel-related costs[131]. - Selling, general, and administrative expenses increased to $82.9 million from $72.2 million, a 15% increase, driven by higher personnel-related costs[146]. Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2023, totaled $271.9 million, with marketable securities amounting to $228.4 million, indicating sufficient liquidity for at least the next 12 months[164]. - Net cash provided by operating activities for the six months ended June 30, 2023, was $23.4 million, a significant improvement compared to a net cash used of $(72.6) million in the same period of 2022[176]. - The company experienced a decrease in accounts receivable by $27.1 million during the six months ended June 30, 2023, contributing to improved cash flow[176]. - As of June 30, 2023, the company had cash and cash equivalents totaling $271.9 million, consisting of interest-bearing investments with maturities of three months or less[187]. Interest and Debt - Interest income for Q2 2023 was $4,720,000, significantly higher than $638,000 in Q2 2022[120]. - Interest income surged to $8.0 million from $0.7 million, a 1075% increase, due to higher average balances of marketable securities and interest rates[149]. - Interest expense increased to $(0.45) million from $(0.24) million, reflecting an 89% rise due to increased borrowings[135]. - Interest expense increased to $0.8 million from $0.4 million, a 71% rise, attributed to increased borrowings[149]. - As of June 30, 2023, $105.0 million was drawn under the 2021 Revolver, with an outstanding letter of credit of $1.6 million[171]. - The 2021 Revolver has a maturity date of August 24, 2026, and includes financial covenants requiring maintenance of minimum liquidity levels[170]. Market Strategy and Growth - The company aims to increase Marketplace Units, which are critical for revenue growth, by enhancing the transparency and efficiency of its digital marketplace[92]. - The company plans to grow its share of wholesale transactions from existing customers, focusing on increasing engagement and spend on its platform[93]. - The company intends to add new Marketplace Buyers and Sellers to drive liquidity and vehicle selection, thereby improving marketplace attractiveness[94]. - The company is investing in growth, anticipating increased operating expenses to support sales, marketing, and technology development[100]. - The demand for used vehicles remains strong, which has positively impacted the company's growth in recent years[101]. - The company is focused on driving customer adoption of existing value-added and data services, as well as introducing new products to enhance its platform[99]. Revenue Breakdown - Marketplace and service revenue for Q2 2023 was $109,360,000, representing 88% of total revenue, an increase from $97,752,000 (85%) in Q2 2022[120]. - Customer assurance revenue for Q2 2023 was $14,857,000, accounting for 12% of total revenue, down from $17,320,000 (15%) in Q2 2022[120]. - Customer assurance revenue decreased to $14.86 million from $17.32 million, a decline of 14% primarily due to lower Go Green assurance revenue[126]. - Total auction marketplace revenue increased to $54.6 million from $48.1 million, contributing to overall revenue growth[124]. - Auction marketplace revenue rose to $108.5 million from $92.0 million, while other marketplace revenue increased to $89.2 million from $77.8 million[139]. - Customer assurance revenue decreased to $29.6 million from $32.0 million, an 8% decline, primarily due to a decrease in Go Green assurance revenue[141]. Cost Management - Marketplace and service cost of revenue for Q2 2023 was $50,229,000, which is 40% of total revenue, compared to 43% in Q2 2022[120]. - The percentage of marketplace and service costs of revenue decreased to 40% from 43% year-over-year, indicating improved cost management[127]. - Marketplace and service cost of revenue (excluding depreciation & amortization) was $50.23 million, up from $49.89 million, reflecting a 1% increase[127]. - Marketplace and service cost of revenue for the six months ended June 30, 2023, was $97.8 million, a slight increase of 1% from $97.1 million in the prior year[142]. Depreciation and Amortization - Depreciation and amortization increased to $3.82 million from $2.48 million, a significant rise of 54% due to amortization of internal-use software costs[132]. - Depreciation and amortization expenses rose to $7.1 million from $4.9 million, a 46% increase, primarily due to amortization of internal-use software costs[147]. Taxation - The effective tax rate for the six months ended June 30, 2023, was approximately 1%, consistent with the prior year[150]. COVID-19 and Supply Chain Impact - The company continues to monitor the impact of COVID-19 and supply chain issues on its operations and market conditions[106].

Financial Data and Key Metrics Changes - First quarter revenue reached $120 million, exceeding guidance by $10 million and reflecting a 16% year-over-year growth [6][15] - GMV was $2.4 billion, flat year-over-year, with a solid unit growth offset by an 8% decrease in GMV per unit due to declining wholesale vehicle prices [6][15] - Adjusted EBITDA loss was $6 million, which was better than guidance, with EBITDA margin improving approximately 1,200 basis points year-over-year [15][19] Business Line Data and Key Metrics Changes - Auction and Assurance revenue, accounting for 57% of total revenue, increased by 17% year-over-year, driven by 8% unit growth and record ARPU of $454 [16] - Marketplace Services revenue, making up 36% of total revenue, also grew by 17% year-over-year, supported by strong performance in ACV Transport and ACV Capital [16] - ACV Transport achieved revenue margins in the mid-teens, significantly ahead of the 2026 target of 15% [9][17] Market Data and Key Metrics Changes - The new light vehicle SAAR increased by 8% year-over-year, marking the third consecutive quarter of growth, although still about 12% below pre-pandemic levels [7] - The used vehicle retail sales increased quarter-over-quarter but were down in the mid-single digits year-over-year, indicating affordability issues impacting demand [7][8] Company Strategy and Development Direction - The company focuses on three pillars for long-term shareholder value: growth, innovation, and scale [7][11] - The strategy includes expanding market share, enhancing technology capabilities, and driving operational efficiencies [5][11] - The company aims to achieve $1.3 billion in revenue and $325 million in adjusted EBITDA by 2026, with a 25% adjusted EBITDA margin [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in moderating industry headwinds and anticipates continued market share gains [5][20] - The company raised its revenue guidance for the full year 2023 to a range of $468 million to $478 million, representing an 11% to 13% year-over-year growth [19][20] - Management noted that new vehicle supply is expected to improve as production and inventory recover throughout the year [20] Other Important Information - The company ended Q1 with $526 million in cash and equivalents, and $96 million in long-term debt [18] - Cash flow from operations was $43 million, a significant improvement from a $31 million loss in Q1 2022 [19] Q&A Session Summary Question: Volume growth performance - Management indicated that the 8% growth in units was due to both new customer acquisitions and increased listings from existing dealers [26][27] Question: Cost efficiencies and savings - Management highlighted that technology investments in transportation and improved auction formats have led to better pricing and efficiency, contributing to cost savings [31][32] Question: Conversion rates expectations - Management expects conversion rates to normalize throughout the year, starting higher in Q1 and moderating down [38][39] Question: EBITDA guidance changes - Management clarified that the increase in EBITDA guidance reflects cautious optimism and the potential for additional investments if ROI is favorable [42][45] Question: Auction formats and higher-priced vehicles - Management noted that longer auction times have positively impacted market share for higher-priced vehicles, with ongoing testing of various auction formats [48][50] Question: ACV Capital opportunity amid market changes - Management stated that despite regional banks pulling back on floor plans, ACV Capital continues to grow, with a focus on managing risk effectively [54][55] Question: Territory expansion and adjacent markets - Management confirmed that they are well-staffed for territory expansion and are focusing on growing the commercial wholesale segment [81][83]