ACV Auctions Inc. Provides Earnings Guidance for the Second Quarter of 2024 and Full Year 2024
May 08, 2024 at 04:05 pm EDT
Share
ACV Auctions Inc. provided earnings guidance for the Second Quarter of 2024 and Full Year 2024. For the Second Quarter of 2024, the company expects Total revenue of $154 to $158 million, an increase of 24% to 27% year over year and GAAP net loss of $19 million to $17 million.
For the Full Year 2024, the company expects Total revenue of $610 to $625 million, an increase of 27% to 30% year over year and GAAP net loss of $85 million to $80 million.
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 Companyâs 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, Data Services and Data and Technology. The Digital Marketplace connects buyers and sellers of wholesale vehicles. The 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. The Data and Technology underpins everything its do, and powers its vehicle inspections, comprehensive vehicle intelligence reports, digital marketplace, and operations automation.
ACV AUCTIONS INC. 
