ACV Auctions Inc - Class A
Q3 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did ACVA Beat Earnings? Q3 2025 Results
ACV Auctions posted a mixed but largely encouraging third quarter, delivering an earnings beat against a modest revenue shortfall as record unit volumes helped drive 16.5% year-over-year top-line growth to $199.56 million, just shy of the $199.90 million consensus. On the bottom line, adjusted EPS came in at $0.07, clearing the $0.06 estimate by 16.47%, with non-GAAP net income climbing to $11.18 million and Adjusted EBITDA nearly doubling year-over-year to $18.65 million. The headline GAAP results were weighed down by an $18.71 million charge tied to the Tricolor bankruptcy, a customer of ACV Capital that the company views as a one-time event rather than a signal of broader credit deterioration. Notably, broader used-vehicle market softness, <a href="https://247wallst.com/investing/2025/10/29/earnings-live-complete-carvana-cvna-q3-coverage/">a pressure felt across auto retail</a>, factored into ACV's cautious forward outlook, with Q4 2025 revenue guided to $180 million to $184 million as the dealer wholesale market is expected to decline mid-single digits year-over-year. Full-year 2025 guidance calls for revenue of $756 million to $760 million, representing 19% growth.
- Increased market share gains yielding record unit volume of 218,065 Marketplace Units, up 10% YoY
- Strong adoption of Marketplace Services with record Marketplace Services Revenue
- Marketplace GMV of $2.7 billion, up 9% YoY
- Dealer solutions suite gained further market traction
- Execution on commercial wholesale strategy initiatives
“We are pleased with our third quarter results, delivering record revenue despite challenging market conditions. Results were driven by increased market share gains, yielding record unit volume, and strong adoption of our Marketplace Services. Our suite of dealer solutions gained further market traction, and we executed on initiatives to support our commercial wholesale strategy.”
ACV Auctions CEO, on the earnings call
Forward Guidance & Outlook
ACV updated its guidance to reflect macroeconomic crosscurrents. For Q4 2025, the company expects revenue of $180 million to $184 million (13-15% YoY growth), GAAP net loss of ($23) million to ($21) million, non-GAAP net loss of ($4) million to ($2) million, and Adjusted EBITDA of $5 million to $7 million. For full-year 2025, ACV expects revenue of $756 million to $760 million (19% YoY growth), GAAP net loss of ($69) million to ($67) million, non-GAAP net income of $27 million to $29 million, and Adjusted EBITDA of $56 million to $58 million (~100% growth YoY). Key assumptions include the dealer wholesale market declining mid-single digits YoY in Q4, worse than previously expected, and conversion rates below normal seasonal patterns due to higher-than-normal wholesale price depreciation. Non-GAAP operating expenses are expected to increase approximately 12% year-over-year.
ACVA YoY Financials
ACVA Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.