NYSE$ACVA
ACV Auctions Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
ACV Auctions reported strong third quarter results with revenue at the high-end of guidance and Adjusted EBITDA exceeding guidance.
ACV Auctions reported a revenue of $119 million, up 13% year-over-year. The company's Adjusted EBITDA was ($4) million. They are raising full-year guidance reflecting the strong third quarter performance.
- Revenue of $119 million, an increase of 13% year over year
- Marketplace and Service Revenue of $105 million, an increase of 15% year over year
- Marketplace GMV of $2.1 billion, consistent with the third quarter of 2022
- Adjusted EBITDA of ($4) million, compared to Adjusted EBITDA of ($12) million in the third quarter of 2022
Headline financials
Revenue & EPS history
ACV Auctions · Revenue · Quarterly
$119M
Revenue by segment
ACV Auctions · $119M total across 2 segments · Q3 2023
- Marketplace and Service$105M+15.1%87.8%
- Customer Assurance$14.5M-0.6%12.2%
Forward guidance
ACV is providing the following guidance for the fourth quarter of 2023: Total revenue of $116 to $120 million, GAAP net income (loss) of ($24) to ($26) million, Non-GAAP net income (loss) of ($8) to ($10) million, Adjusted EBITDA of ($7) to ($9) million.
Tailwinds
- Vehicle supply remains lower than historical levels, but we believe it will improve as new vehicle production and inventory continue to recover.
- We are expecting conversion rates and wholesale price depreciation to follow normal seasonal patterns for the balance of the year.
Headwinds
- Fourth quarter non-GAAP net income (loss) guidance excludes approximately $15 million of stock-based compensation expense
- Fourth quarter non-GAAP net income (loss) guidance excludes approximately $2 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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro