NYSE$ACVA
ACV Auctions Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record revenue with Adjusted EBITDA ahead of guidance and raised 2023 guidance.
ACV Auctions announced strong second quarter results with revenue above guidance, year-over-year margin expansion, and Adjusted EBITDA exceeding guidance. The company reported record revenue and raised full-year guidance, reflecting strong second quarter performance.
- Second quarter revenue was $124 million, up 8% year over year.
- Second quarter GAAP net income (loss) was ($16) million.
- Second quarter Adjusted EBITDA was ($4) million.
- 2023 guidance was updated with revenue of $474 million to $482 million, representing growth of 12% to 14% YoY.
Headline financials
Revenue & EPS history
ACV Auctions · Revenue · Quarterly
$124M
Revenue by segment
ACV Auctions · $124M total across 2 segments · Q2 2023
- Marketplace and Service$109M+11.9%88.0%
- Customer Assurance$14.9M-14.2%12.0%
Forward guidance
ACV is providing the following guidance: Third quarter of 2023: Total revenue of $115 to $119 million, an increase of 9% to 13% year over year GAAP net income (loss) of ($23) to ($25) million Non-GAAP net income (loss) of ($7) to ($9) million Adjusted EBITDA of ($8) to ($10) million Full-Year 2023: Total revenue of $474 to $482 million, an increase of 12% to 14% year over year GAAP net income (loss) of ($79) to ($83) million Non-GAAP net income (loss) of ($19) to ($23) million Adjusted EBITDA of ($23) to ($27) million
Tailwinds
- Vehicle supply is expected to improve as new vehicle production and inventory recover.
- Conversion rates are expected to follow normal seasonal patterns.
- Wholesale price depreciation is expected to continue.
- Third quarter non-GAAP net income (loss) guidance excludes approximately $15 million of stock-based compensation expense and approximately $1 million of intangible amortization.
- Full-year non-GAAP net income (loss) guidance excludes approximately $53 million of stock-based compensation expense and $6 million of intangible amortization.
Headwinds
- Vehicle supply remains lower than historical levels.
- GAAP net income (loss) of ($23) to ($25) million
- Non-GAAP net income (loss) of ($7) to ($9) million
- Adjusted EBITDA of ($8) to ($10) million
- GAAP net income (loss) of ($79) to ($83) million
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 Q2 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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