ACV Q2 revenue $124M (+8% YoY) beats guidance; raises FY 2023 outlook

ACV Auctions Inc.

2023-Q2 EPS reported -$0.21 revenue$243,843,000

Q2 revenue $124M (+8% YoY); GAAP net loss $16M; Adjusted EBITDA -$4M (above guidance range).
Marketplace & Service revenue $109M (+12%); Marketplace GMV $2.5B (-10%); Units 153,148 (+3%).
FY 2023 guidance raised: revenue $474-482M (12-14% growth); Adj EBITDA -$23 to -$27M.
Q3 2023 guidance: revenue $115-119M (+9-13%); Adj EBITDA -$8 to -$10M.
Management cites share gains and expanding dealer network, expects vehicle supply recovery.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACV Auctions Inc. reported second quarter ended June 30, 2023 results: revenue $124 million, net income ($16) million. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $124 million
Net income: ($16) million
Guidance: raised
Result: reported results

Exact text from the filing

(EX-99.1) --- EX-99.1 ACV Announces Second Quarter 2023 Results Delivers Record Revenue with Adjusted EBITDA Ahead of Guidance Raises 2023 Guidance ● Second quarter revenue of $124 million, up 8% year over year ● Second quarter GAAP net income (loss) of ($16) million ● Second quarter Adjusted EBITDA of ($4) million ● Updating 2023 guidance: o Revenue of $474

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Source: SEC EDGAR

accession 0000950170-23-039065

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