ACV Q4 revenue $118M (+21% YoY); guides FY2024 rev $610-625M, Adj EBITDA $20-25M

ACV Auctions Inc.

2023-FY EPS reported -$0.47 revenue$481,234,000

Q4 GAAP net loss $23M; full-year loss $75M vs $56M Adj EBITDA loss (improved from $56M loss in 2022).
Marketplace units 143,999 (+15% YoY); GMV $1.8B (+6% YoY) despite industry headwinds.
FY2024 revenue guidance $610-625M (27-30% growth); Adj EBITDA $20-25M vs ($18)M in 2023.
Recently acquired Texas auction group expected to contribute ~5% of 2024 revenue and be accretive to Adj EBITDA.
Q1 2024 guidance: rev $141-146M (+18-22% YoY); Adj EBITDA $2-4M (first positive quarterly Adj EBITDA).

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 financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 21, 2024, ACV Auctions Inc. (the "Company") issued a press release announcing its financial results for the quarter and year ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACV Auctions Inc. updated its First Quarter and Full-Year 2024 guidance (initiated).

Period: First Quarter and Full-Year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

First Quarter of 2024: o Total revenue of $141 to $146 million, an increase of 18% to 22% year over year o GAAP net income (loss) of ($15) to ($13) million o Non-GAAP net income of $0 to $2 million o Adjusted EBITDA of $2 to $4 million • Full-Year 2024: o Total revenue of $610 to $625 million, an increase of 27% to 30% year over year o GAAP net income (loss) of ($62) to ($57) million o Non-GAAP net income of $3 to $8 million o Adjusted EBITDA of $20 to $25 million

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ACV Auctions Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-017935

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