ACV Auctions Inc. operates a digital wholesale automotive marketplace that connects buyers and sellers of used vehicles. Headquartered in Buffalo, New York, the company provides a B2B platform for franchise and independent dealers, fleet operators, and rental companies to source and sell inventory. It differentiates itself through proprietary inspection technology, AI-powered condition reports, and value-added services like transportation and short-term inventory financing.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
759,606
637,156
481,234
421,529
Cost of Sales
361,408
304,441
244,454
236,653
Gross Profit
398,198
332,715
236,780
184,876
Selling, General & Administrative Expenses
234,991
217,435
166,510
143,637
Depreciation & Amortization Expenses
43,724
36,685
18,988
10,926
Other Operating Expenses
182,674
162,700
140,959
136,522
Operating Profit
(63,191)
(84,105)
(89,677)
(106,209)
Interest and Investment Income
8,008
9,337
16,507
5,082
Interest Expense
(9,620)
(4,244)
(1,565)
(979)
Non-Operating Income
(1,612)
5,093
14,942
4,103
Total Non-Operating Income
(3,224)
10,186
29,884
8,206
Income Before Provision for Income Taxes
(64,803)
(79,012)
(74,735)
(102,106)
Provision for Income Taxes
1,338
688
526
87
Consolidated Net Income
(66,141)
(79,700)
(75,261)
(102,193)
Net Income Attributable to Common Shareholders
(66,141)
(79,700)
(75,261)
(102,193)
Basic EPS
-0.39
-0.48
-0.47
-0.65
Diluted EPS
-0.39
-0.48
-0.47
-0.65
Basic Weighted Average Shares Outstanding
170,584
164,851
159,953
156,994
Diluted Weighted Average Shares Outstanding
170,584
164,851
159,953
156,994
Shares Outstanding
173,179
168,029
161,843
158,456
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
271,497
224,065
182,571
280,752
Short-Term Investments
—
46,036
228,761
215,926
Total Cash and Cash Equivalents
271,497
270,101
411,332
496,678
Accounts Receivable
197,225
168,770
164,009
168,732
Other Receivables
180,486
139,045
119,034
78,047
Total Trade Receivables
377,711
307,815
283,043
246,779
Other Current Assets
24,295
15,281
12,524
11,317
Total Current Assets
673,503
593,197
706,899
754,774
Net Property, Plant & Equipment
12,852
7,625
4,918
5,710
Net Intangible Assets
162,988
159,387
89,963
56,283
Goodwill
183,725
180,478
103,379
91,755
Other Long-Term Assets
52,543
43,462
17,765
6,400
Total Assets
1,085,611
984,149
922,924
914,922
Accounts Payable
390,830
345,605
305,845
323,661
Accrued Expenses
30,019
35,561
28,096
24,556
Total Current Liabilities
420,849
381,166
333,941
348,217
Long-Term Debt
190,000
123,000
115,000
75,500
Other Long-Term Liabilities
45,079
39,979
17,455
5,481
Total Long-Term Liabilities
235,079
162,979
132,455
80,981
Total Liabilities
655,928
544,145
466,396
429,198
Common Stock
173
168
162
158
Additional Paid-in Capital
996,628
944,891
880,510
836,695
Accumulated Other Comprehensive Income
1,338
(2,740)
(1,529)
(3,775)
Retained Earnings
(568,456)
(502,315)
(422,615)
(347,354)
Total Common Shareholders' Equity
429,683
440,004
456,528
485,724
Total Shareholders' Equity
429,683
440,004
456,528
485,724
Total Liabilities and Shareholders' Equity
1,085,611
984,149
922,924
914,922
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(66,141)
(79,700)
(75,261)
(102,193)
Depreciation & Amortization
43,743
36,808
19,285
11,378
Share-Based Compensation Expense
56,862
68,010
49,648
39,324
Other Adjustments
37,592
10,730
9,459
10,991
Changes in Trade Receivables
(31,022)
17,466
14,406
47,170
Changes in Accounts Payable
46,823
16,167
(34,612)
(73,087)
Changes in Other Operating Activities
(9,625)
(4,084)
(810)
(8,758)
Cash from Operating Activities
78,232
65,397
(17,885)
(75,175)
Capital Expenditure
(9,098)
(4,539)
(2,330)
(3,211)
Proceeds from Sale of Property, Plant & Equipment
—
14,083
—
—
Purchases of Intangible Assets
(35,555)
(29,702)
(25,840)
(20,185)
Purchases of Investments
(28,921)
(35,979)
(146,032)
(269,678)
Proceeds from Sale of Investments
75,322
218,754
138,126
66,990
Payments for Business Acquisitions
—
(156,475)
(29,623)
(18,913)
Other Investing Activities
(75,799)
(22,005)
(45,273)
(37,982)
Cash from Investing Activities
(74,051)
(15,863)
(110,972)
(282,979)
Issuance of Long-Term Debt
423,500
491,500
420,000
275,000
Repayments of Long-Term Debt
(356,500)
(483,500)
(380,500)
(200,000)
Net Issuance / (Repayments) of Long-Term Debt
67,000
8,000
39,500
75,000
Issuance of Common Shares
6,107
13,346
7,327
3,391
Repurchases of Common Shares
(26,868)
(27,131)
(16,025)
(5,458)
Net Issuance / (Repurchases) of Common Shares
(20,761)
(13,785)
(8,698)
(2,067)
Other Financing Activities
(3,265)
(2,089)
(169)
—
Cash from Financing Activities
42,974
(7,874)
30,633
72,933
Effect of Exchange Rate Changes on Cash and Cash Equivalents
277
(166)
43
(21)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash