NYSE$ACVA
ACV Auctions Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Delivered record revenue and adjusted EBITDA ahead of guidance and raised 2023 guidance.
ACV Auctions reported strong first quarter results with revenue above the guidance range and year-over-year margin expansion, resulting in Adjusted EBITDA results also above the guidance range. The company delivered record revenue in the quarter due to improved market conditions and continued share gains.
- First quarter revenue of $120 million, up 16% year over year
- Marketplace and Service revenue of $105 million, an increase of 19% year over year
- Marketplace GMV of $2.4 billion, approximately flat year over year
- Adjusted EBITDA of ($6) million, compared to Adjusted EBITDA of ($18) million in the first quarter of 2022
Headline financials
Revenue & EPS history
ACV Auctions · Revenue · Quarterly
$120M
Revenue by segment
ACV Auctions · $120M total across 2 segments · Q1 2023
- Marketplace and Service$105M+18.7%87.7%
- Customer Assurance$14.8M+0.3%12.3%
Forward guidance
ACV is providing the following guidance: Second quarter of 2023: Total revenue of $117 to $120 million, GAAP net income (loss) of ($21) to ($23) million, Non-GAAP net income (loss) of ($7) to ($9) million, Adjusted EBITDA of ($8) to ($10) million. Full-Year 2023: Total revenue of $468 to $478 million, GAAP net income (loss) of ($87) to ($92) million, Non-GAAP net income (loss) of ($27) to ($32) million, Adjusted EBITDA of ($27) to ($32) million.
Tailwinds
- We believe that supply headwinds impacting wholesale volumes in 2022 will persist in the near-term but will begin to ease as new vehicle production and inventory continue to recover.
- We are expecting wholesale price depreciation to moderate in 2023, resulting in conversion rates normalizing throughout the year.
Headwinds
- Second quarter non-GAAP net income (loss) guidance excludes approximately $13 million of stock-based compensation expense and approximately $1 million of intangible amortization.
- Full-year non-GAAP net income (loss) guidance excludes approximately $55 million of stock-based compensation expense and $5 million of intangible amortization.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+3.7%
Avg return
Earnings day
+4.4%
Avg return
5 days after
+7.2%
Avg return
30 days after
50%
11 / 22 earnings
Positive
+23.9%
Q2 2022
Best reaction
-14.9%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | +13.0% | +4.8% | |
| Q4 2025 | -14.9% | -14.4% | -23.8% | |
| Q3 2025 | +6.7% | +7.9% | +60.1% | |
| Q1 2025 | +4.4% | +7.7% | +5.3% | |
| Q4 2024 | -10.0% | -20.3% | -25.9% | |
| Q3 2024 | +5.2% | +8.2% | +16.7% | |
| Q2 2024 | +19.6% | +17.4% | +20.3% | |
| Q1 2024 | -1.6% | -2.0% | +0.4% | |
| Q4 2023 | +16.9% | +16.7% | +36.4% | |
| Q3 2023 | -3.7% | -4.6% | -1.7% | |
| Q2 2023 | +0.7% | -4.0% | +0.4% | |
| Q1 2023 | +22.5% | +26.5% | +31.0% | |
| Q4 2022 | +20.5% | +15.9% | +18.5% | |
| Q3 2022 | +19.1% | +23.2% | +26.5% | |
| Q2 2022 | +23.9% | +23.8% | +35.2% | |
| Q1 2022 | -7.1% | -4.5% | -18.1% | |
| Q4 2021 | +11.6% | +12.7% | +27.8% | |
| Q3 2020 | -4.2% | +3.3% | -0.7% | |
| Q3 2021 | -4.2% | +3.3% | -0.7% | |
| Q2 2021 | -8.6% | -11.9% | -16.9% | |
| Q4 2020 | -5.5% | -10.3% | -19.3% | |
| Q1 2021 | -5.5% | -10.3% | -19.3% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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