ACV Auctions Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2022
August 11, 2022 at 01:31 am IST
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ACV Auctions Inc. provided earnings guidance for the third quarter and full year of 2022. For the quarter, the company expects total revenue of $104 to $107 million, an increase of 13% to 17% year over year. GAAP net loss of $29 to $31 million.
For the year 2022, the company expects total revenue of $427 to $432 million, an increase of 19% to 21% year over year. GAAP net loss of $113 to $115 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. 
