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Jun 30, 2022
ACV Auctions Q2 2022 Earnings Report
ACV Auctions' second quarter performance showed solid revenue growth and margin improvement, with gains in market share.
Key Takeaways
ACV Auctions reported a revenue of $115 million, up 18% year-over-year. The company experienced a GAAP net loss of $25 million and an adjusted EBITDA loss of $14 million. Despite headwinds in the automotive industry, ACV exceeded revenue expectations and demonstrated strong quarter-over-quarter margin expansion.
Revenue reached $115 million, reflecting an 18% increase year-over-year.
Marketplace and Service revenue was $98 million, up 16% year-over-year.
Marketplace GMV increased by approximately 27% year-over-year, totaling $2.7 billion.
Adjusted EBITDA loss was $14 million, with margin expansion of approximately 500 basis points from the first quarter of 2022.
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 expects third quarter 2022 revenue between $104 to $107 million, an increase of 13% to 17% year over year. Adjusted EBITDA loss of $13 to $15 million. GAAP net loss of $29 to $31 million. Non-GAAP net loss of $15 to $16 million.
Positive Outlook
- Total revenue of $104 to $107 million, an increase of 13% to 17% year over year
- Adjusted EBITDA loss of $13 to $15 million
- GAAP net loss of $29 to $31 million
- Non-GAAP net loss of $15 to $16 million
Challenges Ahead
- Wholesale volumes are expected to remain constrained due to the ongoing automotive OEM production challenges and softening retail demand for used vehicles.
- Marketplace conversion rates are expected to remain at the lower-end of our historical range until seller and buyer price expectations converge to more normalized levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income