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ACV Auctions (ACVA) investor relations material
ACV Auctions Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved record Q3 2025 revenue of $200 million, up 16% year-over-year, with record unit volume and increased market share despite a challenging or flat dealer wholesale market.
Marketplace and service revenue reached $177 million, up 13% year-over-year, and Marketplace GMV was $2.7 billion, up 9% year-over-year.
Adjusted EBITDA was $19 million, up from $11 million in Q3 2024, with margin improving to 9% and non-GAAP net income of $11 million.
Net loss widened to $24 million from $16 million in Q3 2024, primarily due to a one-time $18.7 million provision for credit losses related to the Tricolor bankruptcy.
Continued innovation with AI-driven solutions and expansion of product suite, including ClearCar, ACV MAX, Project Viper, and Virtual Lift 2.0.
Financial highlights
Q3 2025 revenue reached $200 million, a 16% increase year-over-year, with marketplace and service revenue at $177 million (+13% YoY).
Adjusted EBITDA was $19 million (9% margin), up from $11 million (7% margin) in Q3 2024.
Non-GAAP net income was $11 million, up from $8 million in Q3 2024; GAAP net loss was $24 million, compared to $16 million in Q3 2024.
Marketplace units transacted grew to 218,065, up 10% year-over-year; Marketplace GMV reached $2.7 billion, up 9% year-over-year.
Cash and cash equivalents at quarter-end were $265.3 million, with $50.7 million in marketable securities.
Outlook and guidance
Q4 2025 revenue expected at $180–$184 million (+13–15% YoY); Adjusted EBITDA of $5–$7 million; GAAP net loss of $23–$21 million.
Full-year 2025 revenue guidance: $756–$760 million (+19% YoY); Adjusted EBITDA of $56–$58 million; GAAP net loss of $69–$67 million.
Dealer wholesale market expected to decline mid-single digits YoY in Q4, with conversion rates below normal due to higher wholesale price depreciation.
Non-GAAP operating expense (excluding cost of revenue) expected to increase approximately 12% year-over-year.
2026 planning assumes a flat dealer wholesale market, with focus on margin expansion and continued investment in growth and innovation.
Explain Q4 Adjusted EBITDA guidance decline.
Detail Tricolor bankruptcy loss impact.
How to mitigate wholesale price depreciation?
ACV Capital: How will risk changes impact growth?
How will ACV achieve mid-teens share in flat 2026 market?
How do new products create ACV's strategic dealer advantage?
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Next ACV Auctions earnings date
Q4 202519 Feb, 2026
Next ACV Auctions earnings date
Q4 202519 Feb, 2026
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Frequently asked questions
ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions, providing dealers with an online platform to buy and sell used vehicles. The company offers services including condition reports, logistics, and floorplan financing. ACV Auctions serves automotive dealerships, fleet managers, and wholesalers across North America. The company is headquartered in Buffalo, New York, and its shares are listed on the NASDAQ.
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