ACV Auctions(ACVA) - 2025 Q1 - Quarterly Results

Financial Performance - First quarter 2025 revenue reached $183 million, representing a 25% year-over-year increase[7] - Total revenue for Q1 2025 was $182.7 million, a 25.4% increase from $145.7 million in Q1 2024[31] - Marketplace and Service Revenue was $166 million, an increase of 28% year-over-year[8] - Marketplace and service revenue reached $165.9 million, up 28% from $129.8 million year-over-year[31] - First quarter GAAP net loss was $15 million, an improvement from a loss of $20 million in Q1 2024[8] - Net loss for Q1 2025 was $14.8 million, compared to a net loss of $20.5 million in Q1 2024, representing a 27.5% improvement[31] - Non-GAAP net income for the first quarter was $7 million, compared to a loss of $1 million in Q1 2024[8] - The company reported a non-GAAP net income of $7.5 million for Q1 2025, compared to $1.2 million in Q1 2024[36] Growth Expectations - The company expects full-year 2025 revenue to be between $765 million and $785 million, reflecting a growth of 20% to 23% year-over-year[12] - The dealer wholesale market is expected to remain approximately flat year-over-year in 2025[12] Marketplace Metrics - Marketplace GMV for the first quarter was $2.6 billion, an increase of 13% year-over-year[8] - The number of Marketplace Units transacted was 208,025, up 19% year-over-year[8] Adjusted EBITDA - Adjusted EBITDA for the first quarter was $14 million, compared to $4 million in the same quarter of 2024[8] - Adjusted EBITDA for Q1 2025 was $13.9 million, significantly higher than $4.3 million in Q1 2024[36] - The company anticipates Adjusted EBITDA for the full year to be between $65 million and $75 million[12] Cash and Assets - Cash and cash equivalents increased to $291.9 million as of March 31, 2025, from $224.1 million at the end of 2024, a 30.3% rise[33] - Total assets grew to $1.15 billion, up from $984.1 million at the end of 2024, reflecting a 16.9% increase[33] Operating Expenses - Total operating expenses for Q1 2025 were $197.1 million, up from $168.2 million in Q1 2024, a 17.2% increase[31] - Stock-based compensation expense for Q1 2025 was $16.6 million, compared to $14.8 million in Q1 2024, indicating a 12.1% increase[36] Debt - Long-term debt increased to $166.5 million as of March 31, 2025, from $123 million at the end of 2024, a 35.3% increase[33]