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Mar 31, 2021
ACV Auctions Q1 2021 Earnings Report
ACV Auctions' first quarter results reflected growth driven by its trusted, digitally native platform.
Key Takeaways
ACV Auctions reported a strong start to 2021, with revenue up 64% year-over-year, driven by its data-powered solutions and marketplace experience. The company is increasing investment to expand its team and drive innovation.
Completed its initial public offering and began trading on Nasdaq on March 24, 2021.
Revenue of $69.1 million, an increase of 64% year over year.
Marketplace GMV of $1.3 billion, an increase of approximately 107% year over year.
Adjusted EBITDA loss of $12.4 million, compared to Adjusted EBITDA loss of $24.4 million in first quarter 2020.
ACV Auctions
ACV Auctions
ACV Auctions Revenue by Segment
Revenue by Segment
Marketplace and Service Revenue
CapyFin.comCustomer Assurance Revenue
CapyFin.com Forward Guidance
ACV Auctions provided revenue guidance for the second quarter of 2021 of $72 to $75 million, representing a 60% to 67% year-over-year increase. Full year 2021 revenue is projected to be $307 to $313 million, up 47% to 50% year-over-year.
Positive Outlook
- Strong demand and unit prices are expected to continue in the near-term.
- Second quarter total revenue of $72 to $75 million, an increase of 60% to 67% year over year
- Total revenue of $307 to $313 million, an increase of 47% to 50% year over year
- Favorable market dynamics driving strong demand
- Unit prices are expected to continue in the near-term
Challenges Ahead
- A return to more normalized levels later in fiscal 2021.
- Adjusted EBITDA loss of $20 to $22 million for the second quarter
- Adjusted EBITDA loss of $79 to $82 million for the full year
- Total operating expense growth of approximately 63%
- High variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure