ACV Q1 revenue $146M (+22% YoY), first non-GAAP profit; guides Q2 rev $154-158M

ACV Auctions Inc.

2024-Q1 EPS reported -$0.13 revenue$145,689,000

Revenue $146M (+22% YoY); GAAP net loss ($20M), non-GAAP net income $1M (first profitable non-GAAP quarter).
Adjusted EBITDA $4M vs ($6M) YoY; marketplace units up 15% to 174,631; GMV down 4% to $2.3B.
Full-year 2024 guidance: revenue $610-625M (+27-30% YoY), Adj. EBITDA $20-25M.
Q2 2024 guidance: revenue $154-158M (+24-27% YoY), Adj. EBITDA $6-8M.
CEO cites market share gains; expects modest dealer wholesale volume recovery in H2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACV Auctions Inc. reported first quarter ended March 31, 2024 results: revenue $146 million, net income ($20) million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $146 million
Net income: ($20) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- ACV Announces First Quarter 2024 Results Delivered 22% Revenue Growth Revenue and Adjusted EBITDA at the High-End of Guidance • First quarter revenue of $146 million • First quarter GAAP net income (loss) of ($20) million • First quarter non-GAAP net income of $1 million • First quarter Adjusted EBITDA of $4 million • Expects 2024 revenue of

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Source: SEC EDGAR

accession 0001628280-24-021682

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