Core Insights - ACV Auctions has faced significant challenges, with its stock price dropping by nearly 15% in early September due to negative sentiment and client bankruptcy news [1] - The company disclosed that a client of its ACV Capital subsidiary filed for Chapter 7 bankruptcy, with an outstanding credit line of approximately $18 million [2] - ACV expects to incur a loss related to this bankruptcy situation but cannot currently determine the exact shortfall [4] Financial Performance - ACV reported a surprise net loss in its second-quarter results, missing analyst revenue estimates [4] - The company's third-quarter revenue guidance also fell short of analyst consensus expectations [4]