Image: SuppliedBuilding on its upcoming Dubai Financial Market (DFM) listing, Dubizzle Group, the MENA region’s leading digital classifieds marketplace, has reported robust growth, solid profitability, and continued market leadership in the UAE—its largest and core market.Through its flagship platforms dubizzle and Bayut, Dubizzle Group maintains a dominant position in the UAE’s property and automotive classifieds sectors. The two platforms connect millions of users daily with real estate agencies, develop ...

Financial Performance - ACV achieved a 95% year-over-year revenue growth[10], reaching $208 million in revenue[10] - Marketplace units increased to 391,000+[10], compared to 128,000+ in Q1 2020[10] - Gross Merchandise Volume (GMV) exceeded $3 billion[10], a significant increase from $1.3 billion in Q1 2020[10] - Adjusted EBITDA margin improved from -58% in Q1 2020 to -18% in Q1 2021[55] Market Opportunity and Growth Strategy - ACV operates in a large addressable market, estimated at ~$1.7 trillion annually in the US vehicle market[17] - The company is pursuing a long-term strategy focused on marketplace growth, product expansion, and operating scale[10] - ACV sees significant opportunities in commercial wholesale, dealer wholesale, and dealer-to-consumer transactions[21] - The company is focused on expanding its data services offerings to dealers and commercial partners[21] Future Outlook - ACV anticipates Q2 2021 revenue between $72 million and $75 million, representing a 60% to 67% year-over-year growth[74] - Full-year 2021 revenue is projected to be between $307 million and $313 million, a 47% to 50% increase year-over-year[74] - The company expects an Adjusted EBITDA loss between $20 million and $22 million for Q2 2021, and between $79 million and $82 million for the full year[74]

Q2 2021 Performance Highlights - Revenue reached $97 million, demonstrating a 117% year-over-year growth compared to $45 million in Q2 2020[6, 40] - Marketplace Gross Merchandise Volume (GMV) exceeded $2.1 billion, a 234% year-over-year increase [6, 10] - Marketplace Units transacted totaled over 153,000, representing a 74% year-over-year increase [6, 10] - Auction Marketplace Revenue grew to $47 million, a 98% year-over-year increase [19] Strategic Growth Initiatives - The company is expanding its national footprint and is on track to reach a target of 160 territories in 2021 [12] - Consumer sourcing experienced over 150% year-over-year unit growth in Q2 2021, representing a high single-digit percentage of total units sold [22] - Value-added services are gaining traction, with a Q2 2021 transportation attach rate of approximately 45%, representing around 70,000 transports [36] Financial Outlook and Operating Efficiency - Q3 2021 revenue is projected to be between $82 million and $85 million, with full-year 2021 revenue guidance revised to $332 million to $338 million [50] - Adjusted EBITDA loss for Q3 2021 is expected to be between $20 million and $22 million, with a full-year 2021 adjusted EBITDA loss projected at $62 million to $65 million [50] - Non-GAAP Total Operating Cost (excluding Cost of Revenue) decreased from 61% of revenue in Q2 2020 to 50% in Q2 2021 [43] - The company maintains a strong balance sheet with $664 million in cash and cash equivalents as of June 30, 2021 [51]