ACV Announces First Quarter 2024 Results
BUFFALO, N.Y., May 08, 2024 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, today reported results for its first quarter ended March 31, 2024.
- Expects 2024 revenue of $610 million to $625 million, growth of 27% to 30% YoY, net income (loss) of ($85) million to ($80) million and Adjusted EBITDA of $20 million to $25 million
BUFFALO, N.Y., May 08, 2024 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, today reported results for its first quarter ended March 31, 2024. - “We are very pleased with our strong first quarter results with revenue at the high-end of our guidance range, strong year-over-year margin expansion, and Adjusted EBITDA at the high-end of guidance range, resulting in our first profitable quarter as a public company, on a non-GAAP basis,” said George Chamoun, CEO of ACV.
- “Our strong market position and competitive moat resulted in continued market share gains and accelerated revenue growth in the quarter.
- ACV will host a conference call and live webcast today, May 8, 2024, at 5:00 p.m.