ACV Auctions (ACVA) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue reached $160 million, up 35% year-over-year, with full-year revenue at $637 million, up 32% year-over-year, and Adjusted EBITDA profitability achieved for the first time.

• Marketplace GMV reached $9.5 billion in 2024, with units sold increasing to 743,000, representing 24% year-over-year growth.

• Innovation, especially in AI-powered pricing and inspection tools, and partnerships such as powering Amazon's automotive trade-in experience, drove growth.

• Market share gains continued, with over half of U.S. dealers transacting on the marketplace.

Financial highlights

• Q4 Adjusted EBITDA was $6 million (4% margin), with full-year Adjusted EBITDA at $28 million (4% margin), both up from losses in 2023.

• Q4 non-GAAP net loss was $(1) million; full-year non-GAAP net income was $11 million.

• Auction and assurance revenue grew 40% year-over-year, making up 58% of total revenue; marketplace services revenue grew 31%, SaaS/data services 10%.

• Cash, cash equivalents, and marketable securities totaled $270 million at year-end; operating cash flow for 2024 was $65 million.

• Q4 marketplace GMV was $2.3 billion, up 22% year-over-year.

Outlook and guidance

• 2025 revenue guidance is $765–$785 million (20%–23% growth), with Adjusted EBITDA of $65–$75 million (8%–10% margin); Q1 2025 revenue expected at $180–$185 million.

• 2025 non-GAAP net income projected at $32–$42 million; GAAP net loss expected at $(52)–$(62) million.

• Revenue growth expected to outpace non-GAAP OpEx growth by 500 basis points.

• Midterm targets: 1.5 million units, $1.4 billion revenue, $350 million Adjusted EBITDA.

• Guidance assumes flat dealer wholesale volumes and normal seasonal patterns.