NYSE$ACVA
ACV Auctions Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
ACV Auctions reported Q4 2023 earnings, demonstrating revenue growth and exceeding Adjusted EBITDA guidance.
ACV Auctions reported strong fourth-quarter results with revenue in line with guidance and Adjusted EBITDA exceeding the guidance range. The company gained market share and experienced revenue growth.
- Revenue of $118 million, an increase of 21% year over year.
- Marketplace and Service Revenue of $104 million, an increase of 23% year over year.
- Marketplace GMV of $1.8 billion, an increase of 6% year over year.
- Adjusted EBITDA of ($5) million, compared to Adjusted EBITDA of ($13) million in the fourth quarter of 2022.
Headline financials
Revenue & EPS history
ACV Auctions · Revenue · Quarterly
$118M
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 expects 2024 revenue of $610 million to $625 million, growth of 27% to 30% YoY; expects 2024 Adjusted EBITDA of $20 million to $25 million
Tailwinds
- Dealer wholesale volumes are expected to grow modestly year over year, primarily due to improving new vehicle production, supply and retail sales.
- Conversion rates and wholesale price depreciation expected to follow normal seasonal patterns.
- Recently acquired Texas-based auction group is expected to contribute approximately 5% of annual revenue in 2024 and be accretive to full-year Adjusted EBITDA.
- Revenue growth is expected to outpace Non-GAAP Operating Expense growth (excluding Cost of Revenue and Depreciation and Amortization) by approximately 10 percentage points.
- First quarter non-GAAP net income guidance excludes approximately $14 million of stock-based compensation expense and approximately $2 million of intangible amortization.
Headwinds
- Dealer wholesale volumes remain below historical levels.
- GAAP net income (loss) of ($15) to ($13) million for Q1 2024.
- Non-GAAP net income of $0 to $2 million for Q1 2024.
- Adjusted EBITDA of $2 to $4 million for Q1 2024.
- Full-year non-GAAP net income guidance excludes approximately $58 million of stock-based compensation expense and $6 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 Q4 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