ACV Auctions Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2023
August 08, 2023 at 01:35 am IST
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ACV Auctions Inc. provided earnings guidance for the third quarter and full year of 2023. For the quarter, the company expects total revenue of $115 to $119 million, an increase of 9% to 13% year over year and GAAP net loss of $23 to $25 million.
For the year 2022, the company expects total revenue of $474 to $482 million, an increase of 12% to 14% year over year and GAAP net loss of $79 to $83 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. 
