Acv Auctions Stock Earnings Reports

ACV reported record Q3 2025 revenue of $200M, up 16% year‑over‑year, with 218,000 vehicles sold (10% growth). Management highlighted strong marketplace execution — over 10,000 sellers and 14,000 buyers transacted, 35% franchise rooftop penetration, and continued market‑share gains (mid‑teens in September). Key growth drivers included AI‑enabled products (ClearCar, ACV MAX, Project Viper, Virtual Lift 2.0), record performance in ACV Transportation (revenue margin expansion ~200 bps) and 70% revenue growth in ACV Capital. Q3 adjusted EBITDA was $19M (midpoint of guidance) with margin expansion; results were influenced by a $7.6M legal settlement offset largely by ~$7M in additional ACV Capital reserves and $18.7M of operating expenses related to the Tricolor bankruptcy. Management updated guidance: Q4 revenue $180M–$184M (13%–15% growth), Q4 adjusted EBITDA $5M–$7M; full‑year 2025 revenue $756M–$760M (19% growth) and adjusted EBITDA $56M–$58M (~100% growth). They expect to continue investing (~12% OpEx growth) to scale remarketing centers and product roadmap while targeting further margin expansion. Near‑term headwinds: above‑seasonal dealer wholesale depreciation, elevated arbitration costs (expected to remain high in Q4), and a more cautious ACV Capital posture after the customer bankruptcy. Initial 2026 planning assumes a flat dealer wholesale market, deeper field engagement in select emerging regions, continued product launches, and a balanced approach between margin expansion and growth investments. Cash position was strong ($316M) with $220M debt; $200M of cash reflects marketplace float.