ACV Auctions Inc. Provides Earnings Guidance for the First Quarter and Full Year of 2024
February 21, 2024 at 04:05 pm EST
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ACV Auctions Inc. provided earnings guidance for the first quarter and full year of 2024. For the quarter, the company expects total revenue to be between $141 million to $146 million, an increase of 18% to 22% year over year. GAAP net loss to be between $15 million to $13 million.
For the full year, the company expects total revenue to be between $610 million to $625 million, an increase of 27% to 30% year over year. GAAP net loss to be between $62 million to $57 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. 
