ACV Auctions Inc. reported record first-quarter financial results and announced a $100 million share repurchase authorization, which includes an immediate $50 million accelerated repurchase program, boosting investor confidence. The company also exceeded its Adjusted EBITDA guidance and gained market share despite declining dealer wholesale volumes, supported by the successful launch of AI-powered dealer solutions like VIPER. As of September 3, 2026, ACV Auctions shares closed at $6.70, down 43.27% over the past year, with a market capitalization of $1.14 billion. The company's performance was highlighted in the Meridian Hedged Equity Fund's second-quarter 2026 investor letter, which noted these developments as key drivers of the stock's recent strength.
ACV Auctions Inc.Record Q1 results, $100M buyback, and EBITDA beat drive shares higher.
