ACV Auctions Inc.ACVA
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Record revenue and EBITDA beat guidance, with reaffirmed outlook.
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ACV Auctions Inc.ACV Auctions reported second-quarter revenue of $214 million, up 10% year over year, and adjusted EBITDA of $21 million, topping the high end of guidance. The company sold 211,000 vehicles and grew its dealer partner network to a record, even as the broader dealer wholesale market contracted roughly 6% year over year. Marketplace services revenue grew 17% to 41% of total revenue, with transport revenue up 19% on 125,000 vehicles moved. ACV also formally launched ViPR, its service lane inspection and pricing tool, and announced that Bill Zerella is stepping down as CFO, with Tim Fox taking over the role. The company reaffirmed full-year revenue guidance of $845 million to $855 million and adjusted EBITDA guidance of $73 million to $77 million.
ACV Auctions Inc.Record revenue and EBITDA beat guidance, with reaffirmed outlook.