Loading...
•
Jun 30, 2021
ACV Auctions Q2 2021 Earnings Report
ACV Auctions' second quarter performance in 2021 was marked by significant revenue growth and increased marketplace activity.
Key Takeaways
ACV Auctions reported a substantial 117% year-over-year increase in total revenue, reaching $97.4 million. The company experienced growth in marketplace GMV and units, alongside a GAAP net loss of $9.7 million and an adjusted EBITDA loss of $3.7 million.
Total revenue increased by 117% year-over-year to $97.4 million.
Marketplace and Service revenue grew by 119% year-over-year to $83.9 million.
Marketplace GMV increased by approximately 234% year-over-year, reaching $2.1 billion.
Marketplace Units increased by 74% year-over-year to 153,274.
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 provided guidance for the third quarter and full year 2021, anticipating continued revenue growth alongside adjusted EBITDA losses.
Positive Outlook
- Third quarter revenue is expected to be $82 to $85 million, an increase of 22% to 26% year-over-year.
- Full year revenue is projected to be $332 to $338 million, representing a 59% to 62% year-over-year increase.
- The company is focused on geographic expansion.
- The company is focused on new platform features and offerings.
- The company expects long-term growth drivers for its business.
Challenges Ahead
- Third quarter adjusted EBITDA loss is expected to be $20 to $22 million.
- Full year adjusted EBITDA loss is projected to be $62 to $65 million.
- Market conditions that contributed to strong demand and higher unit prices in recent quarters are expected to continue to normalize in the second half of the year.
- Total operating expenses, excluding cost of revenue, are expected to grow approximately 66% year over year.
- Reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income