ACV Auctions Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 03:35 am IST
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ACV Auctions Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 119.01 million compared to USD 105.42 million a year ago. Net loss was USD 18.24 million compared to USD 23.67 million a year ago.
For the nine months, revenue was USD 362.86 million compared to USD 323.56 million a year ago. Net loss was USD 52.02 million compared to USD 77.68 million 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. 
