ACV Auctions Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:05 pm EDT
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ACV Auctions Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 124.22 million compared to USD 115.07 million a year ago. Net loss was USD 15.58 million compared to USD 24.52 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.16 a year ago.
For the six months, revenue was USD 243.84 million compared to USD 218.14 million a year ago. Net loss was USD 33.78 million compared to USD 54.01 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.35 a year ago.
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. 
