ACV Auctions

ACV Auctions, Inc. engages in the development of a pricing application for franchise dealers. It offers ACV, a mobile auction platform that enables wholesale dealers to sell trade-ins by creating app based auctions. The firm's ACV also operates as a closing tool that enables wholesale buyers to bid for vehicles. The company was founded by Joseph Neiman, Daniel Magnuszewsk, and Jack Greco in December 2014 and is headquartered in Buffalo, NY.

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ACV Auctions reports solid Q4 earnings, eyes growth and tech

ACV Auctions reported solid financial performance for Q4 2022 and full-year 2022, with revenue and GMV growth despite challenges in conversion rates. The company's strategic focus on growth, innovation, and scale positions them well for future opportunities.
While facing challenges in conversion rates and market trends, ACV is actively addressing these issues and aiming to achieve financial targets by 2026. Leveraging technology and customer relationships are key strengths for ACV's growth.
Opportunities lie in expanding dealer penetration, leveraging new technologies, and providing detailed updates on financial targets to investors. ACV's commitment to financial discipline and operational efficiency will be crucial for future success.

ACV Auctions reports record Q1 revenue and growth opportunities ahead

ACV Auctions delivered a strong Q1 performance with record revenue, market share growth, and operational achievements. The company's focus on innovation, cost management, and strategic planning positions it for sustainable growth and long-term profitability.
While facing challenges in managing EBITDA losses and industry dynamics, ACV Auctions is well-positioned to leverage opportunities for revenue growth and market differentiation. Continued emphasis on technology adaptability and customer value will be key to navigating market challenges.
With a resilient business model and strategic initiatives in place, ACV Auctions aims to achieve EBITDA breakeven by year-end and sustain revenue margin growth. The company's commitment to dealer acquisition, market share expansion, and operational excellence underpins its growth trajectory.

ACV Auctions excels in Q2, eyes long-term growth and innovation

ACV Auctions delivered a strong performance in Q2 2023, exceeding revenue and adjusted EBITDA expectations, showcasing growth and operational excellence.
The company's strategic focus on innovation, technology, and scale positions it well for long-term success, despite short-term financial challenges.
Optimism about market conditions, ongoing investments in technology, and upcoming enhancements signal a promising outlook for ACV Auctions' future growth and competitiveness.

ACV Auctions beats Q3 targets, eyes $1.3B revenue in 2026

ACV Auctions delivered strong Q3 results, exceeding revenue and EBITDA guidance. The company is focused on growth, innovation, and efficiency to drive profitability. Facing challenges with dealer inventory and fee increases, ACV sees opportunities in consumer car sourcing and technology investments.

ACV Auctions reports robust Q4 earnings, eyes profitability in 2024

ACV Auctions delivered strong financial performance in Q4 2023, with revenue meeting guidance and impressive YoY growth. The company's focus on tech innovations and diversified growth pillars positions it well for future success.
While facing challenges in the commercial segment and dealer wholesale market, ACV's strategic investments and commitment to profitability in 2024 present opportunities for sustained growth and market expansion.
Overall, ACV Auctions remains well-positioned to capitalize on market trends, drive operational efficiency through technology, and achieve long-term value creation for shareholders, signaling a positive trajectory for the company.

ACV Auctions posts record revenue in Q1 2024 earnings call

ACV Auctions reported strong financial performance in Q1 2024 with record revenue and positive EBITDA.
The company's focus on growth, innovation, and scale positions it well for mid-term targets and market expansion.
Despite challenges in GMV and market penetration, ACV's strengths in technology and customer loyalty offer competitive advantages.
Opportunities lie in capitalizing on market improvements, strategic acquisitions, and revenue mix expansion for sustained growth.

ACV Auctions reports record Q2 revenue and raises full-year guidance

ACV Auctions demonstrated robust performance in Q2, marked by record revenue, operational efficiency, and strategic growth initiatives amidst market challenges.
The company's strengths lie in its resilient consumer sourcing solution, positive market trends, and strong financial foundation, positioning it for future success.
While challenges persist, ACV Auctions is well-positioned to leverage opportunities for growth, profitability, and innovation in the evolving automotive landscape.

ACV Auctions (ACVA) reports record Q3 revenue, eyes growth opportunities

ACV Auctions delivered a robust performance in Q3 2024, surpassing revenue and EBITDA expectations.
Operational achievements in delivery services and financing, coupled with strategic focus on growth, position the company well.
While challenges like GMV per unit decline exist, ACV Auctions is poised to capitalize on opportunities for expansion and innovation.

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ACV Auctions, Inc. provides a vibrant digital marketplace for wholesale vehicle transactions and data services, which offers transparent and accurate vehicle information to its customers. The company’s platform leverages data insights and technology to power its digital marketplace and data services, enabling its dealers and commercial partners to buy, sell and value vehicles. Its platform includes Digital Marketplace, Remarketing Centers, Data Services and Data and Technology. Digital Marketplace connects buyers and sellers of wholesale vehicles in an intuitive and efficient manner. Remarketing Centers provides an additional channel to provide dealers and commercial partners with auction services. Data Services offers insights into the condition and value of used vehicles for transactions both on and off its marketplace and helps dealers, their end consumers, and commercial partners make more informed decisions to transact with confidence and efficiency. Data and Technology underpins everything it does, and powers its vehicle inspections, comprehensive vehicle intelligence reports, digital marketplace and operations automation platform. The company was founded by Joseph Neiman, Daniel Magnuszewsk, and Jack Greco in December 2014 and is headquartered in Buffalo, NY.

ACV Auctions Inc. (ACVA) CEO George Chamoun on Q2 2021 Results - Earnings Call Transcript

Increases Full Year 2021 Guidance Increases Full Year 2021 Guidance

ACV Announces Second Quarter 2021 Results

ACV Auctions (ACVA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Earnings Season Could Be Great for ACV Auctions (ACVA)

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Presenting at Canaccord Genuity Growth Conference on August 12, 2021 Presenting at Canaccord Genuity Growth Conference on August 12, 2021

ACV to Report Second Quarter 2021 Financial Results on August 11, 2021

BUFFALO, N.Y., July 13, 2021 /PRNewswire/ --  ACV  (Nasdaq: ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial partners, today announced its acquisition of MAX Digital, a pioneer in automotive data and merchandising products and best known for its flagship inventory management system (IMS) platform FirstLook.

ACV Acquires MAX Digital

BUFFALO, N.Y., June 9, 2021 /PRNewswire/ -- ACV (Nasdaq: ACVA), the leading digital automotive marketplace for dealers and commercial partners, today announced new title-dependent products available through its financing arm, ACV Capital.

ACV Launches New Financing Offerings for Used Car Dealers Through ACV Capital

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ACV Auctions Inc. (ACVA) CEO George Chamoun on Q1 2021 Results - Earnings Call Transcript

Initiates Second Quarter and Full Year 2021 Guidance Initiates Second Quarter and Full Year 2021 Guidance

ACV Announces First Quarter 2021 Results

BUFFALO, N.Y., April 26, 2021 (GLOBE NEWSWIRE) -- ACV Auctions, Inc. (Nasdaq: ACVA), announced today that it will report first quarter fiscal 2021 financial results following the close of market on Thursday, May 13, 2021. On that day, management will host a conference call and live webcast to discuss financial results at 5:00 p.m. ET.

ACV Auctions to Report First Quarter 2021 Financial Results on May 13, 2021

ACV Auctions has seen a great start coming out of the IPO gate. This is quite a surprise given the rocky state of technology stocks at this moment.

ACV Auctions: Getting The Full Price

BUFFALO, N.Y., March 26, 2021 (GLOBE NEWSWIRE) -- ACV Auctions Inc. (“ACV”), the leading online automotive marketplace for dealers, today announced the closing of its initial public offering of 19,032,500 shares of its Class A common stock at a price of $25.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 2,482,500 shares of Class A common stock from the selling stockholders named in the prospectus. ACV sold 16,550,000 shares in the offering. ACV's Class A common stock is listed on the Nasdaq Global Select Market under the symbol “ACVA.” ACV did not receive any proceeds from the sale of shares by the selling stockholders.

ACV Announces Closing of Initial Public Offering

After a successful IPO, investors appear optimistic about ACV Auctions' growth potential.

High Growth Potential Has ACV Auctions Soaring 33% After IPO

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Wholesale car auction site ACV Auctions and cloud computing firm DigitalOcean are scheduled to make their debuts Wednesday. Leonardo DRS, however, postponed its IPO.

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ACV Auctions Inc. got a bullish start to its life as a public company on Wednesday, as the New York-based provider of a digital marketplace for wholesale vehicle transactions' stock opened 28.0% above the initial public offering price. The first trade for the stock was $32.00 at 12:02 p.m.

ACV Auctions stock opens 28% above IPO price

Wholesale vehicle company ACV Auctions Inc (NASDAQ: ACVA) priced the upsized initial public offering (IPO) of 16.55 million shares at $25 per share. The company had previously offered 16.5 million shares at a price between $20 to $22.

ACV Auctions Raises $414M In Upsized IPO At $25 Per Share

ACV Auctions Inc. announced the pricing of its initial public offering, which was above the expected range, as the New York-based provider of a digital marketplace for wholesale vehicle transactions raised $413.75 million. The IPO priced late Tuesday at $25, above the expected range of between $20 and $22 a share, which was recently raised from an original expectation of between $18 and $20 a share.

ACV Auctions IPO prices above the expected range, valuing company at nearly $4 billion

BUFFALO, N.Y., March 23, 2021 (GLOBE NEWSWIRE) -- ACV Auctions Inc. (“ACV”), the leading online automotive marketplace for dealers, today announced the pricing of its initial public offering of 16,550,000 shares of its Class A common stock at a price of $25.00 per share. The selling stockholders named in the prospectus have granted the underwriters a 30-day option to purchase up to an additional 2,482,500 shares of Class A common stock at the initial public offering price to cover over-allotments. The shares are expected to begin trading on the Nasdaq Global Select Market on March 24, 2021 under the symbol “ACVA” and the offering is expected to close on March 26, 2021, subject to customary closing conditions. ACV will not receive any proceeds from the sale of shares by the selling stockholders.

News for ACV Auctions Stock (ACVA)