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    Steven McDermott

    Research Analyst at Bank of America

    Steven McDermott is an Equity Research Analyst at Bank of America, specializing in the Consumer Internet sector with a focus on eCommerce and online marketplaces. He covers major public companies in these domains, evaluating their financial performance and growth prospects, though specific performance metrics and rankings are not publicly disclosed. McDermott's career centers on equity research, with a timeline anchored at Bank of America; previous professional affiliations were not found in disclosed records. He is presumed to hold professional credentials required for his analyst role, including FINRA registration and securities licenses, though exact details are not publicly available.

    Steven McDermott's questions to ACV Auctions (ACVA) leadership

    Steven McDermott's questions to ACV Auctions (ACVA) leadership • Q1 2025

    Question

    Steven McDermott of Bank of America inquired about the outlook for pricing given tougher year-over-year comparisons and asked for the reason behind the deceleration in unit growth despite commentary about strong demand.

    Answer

    CFO Bill Zerella explained that a buy fee increase in March will support ARPU going forward, though seasonal GMV trends are factored into guidance. CEO George Chamoun addressed unit growth by emphasizing the company's focus on disciplined, profitable growth rather than pursuing volume at any cost. He pointed to the strong revenue growth and significant adjusted EBITDA beat as proof of this successful strategy. Bill Zerella added that Q1 operating cash flow was equivalent to the total for all of the prior year.

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