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ACVA operates a wholesale auction marketplace that facilitates business-to-business used vehicle sales between dealerships. The company provides a digital platform for real-time vehicle auctions, supported by data-driven insights and additional services like transportation, financing, and customer assurance. ACVA's offerings aim to enhance transparency and efficiency in the used vehicle market.
- Marketplace and Service Revenue - Generates revenue through a digital auction platform connecting buyers and sellers of wholesale vehicles, with additional services like transportation and financing to support transactions.
- Customer Assurance Revenue - Provides assurance services, including vehicle condition reports and guarantees, to enhance buyer confidence and transaction transparency.
| Revenue by Segment - in Millions of USD | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marketplace and Service | 104.54 | 103.7 | 422.50 | 129.81 | - | 155.91 | - | 572.97 | |||||||||||
| - Auction Marketplace | 51.50 | 50.8 | 210.90 | 67.33 | 75.43 | - | - | 303.04 | |||||||||||
| - Other Marketplace | 45.00 | 44.81 | 179.00 | 54.57 | 60.35 | - | - | 236.67 | |||||||||||
| - Data Services | 8.10 | 8.03 | 32.60 | 7.92 | 8.34 | - | - | 33.26 | |||||||||||
| Customer Assurance | 14.48 | 14.56 | 58.70 | 15.88 | 16.50 | 15.42 | 16.39 | 64.19 | |||||||||||
| Total Revenue | 119.01 | 118.36 | 481.20 | 145.69 | 160.62 | 171.33 | 159.52 | 637.16 | |||||||||||
| KPIs - Metric (Unit, Scale) | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 |
| Marketplace Units (count) | 150,057 | - | 598,767 | 174,631 | 186,526 | 198,354 | - | 743,008 | |||||||||||
| Marketplace GMV (USD billions) | 2.1 | - | 8.8 | 2.3 | 2.4 | 2.5 | - | 9.5 | |||||||||||
| Number of Marketplace Buyers (count) | - | - | 17,121 | - | - | - | - | 20,975 | |||||||||||
| Number of Marketplace Sellers (count) | - | - | 11,505 | - | - | - | - | 14,377 |
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
George Chamoun ExecutiveBoard | Chief Executive Officer (CEO) | Chairman of Launch NY | CEO since September 2016; previously co-founded Synacor and held leadership roles there. Holds a B.A. in Political Science from SUNY Buffalo. | View Report → |
Andrew Peer Executive | Chief Accounting Officer | None | Chief Accounting Officer since July 2024; previously VP and Corporate Controller at ACVA. Former CFO at Kreher Family Farms and Senior Manager at PwC. | |
Craig Anderson Executive | Chief Corporate Development and Strategy Officer | None | Chief Corporate Development and Strategy Officer since June 2018; previously CFO at Compass and COO at Flywheel Sports. Holds a J.D. from Harvard and an M.B.A. from Wharton. | |
Leanne Fitzgerald Executive | Chief Legal Officer and Secretary | None | Chief Legal Officer since February 2022; previously held legal leadership roles at Cerence, Nuance, and EMC. Holds a B.S. in Engineering and a J.D. from UNH School of Law. | |
Michael Waterman Executive | Chief Sales Officer | None | Chief Sales Officer since April 2019; previously held sales leadership roles at Dealertrack and ADESA. Holds a B.S. in Finance from Kent College. | |
Vikas Mehta Executive | Chief Operating Officer (COO) | None | COO since January 2019; previously held leadership roles at eBay and Allstate. Holds degrees in Chemical Engineering and Technology Policy from MIT. | |
William Zerella Executive | Chief Financial Officer (CFO) | Board Member and Audit Chair at TKB Critical Technologies 1 | CFO since September 2020; previously CFO at Luminar, Fitbit, and other companies. Holds a B.S. in Accounting and an M.B.A. from NYU Stern. | |
Brian Hirsch Board | Director | Co-Founder and Managing Partner at Tribeca Venture Partners; Board Member at Katapult Holdings, Inc. | Director since August 2016; venture capitalist with over 26 years of experience. Co-founder of Tribeca Venture Partners. Holds a B.A. from Hamilton College. | |
Brian Radecki Board | Director | CEO of Rapa Therapeutics; Board Member at Wheels Up Partners and Rosecliff Acquisition Corp I | Director since February 2021; former CFO at CoStar Group. Holds a B.S. in Accounting and Finance from SUNY Buffalo. | |
Eileen A. Kamerick Board | Director | Board Member at Associated Banc-Corp, VALIC Company I, and Legg Mason Mutual Fund Complex | Director since March 2020; former CFO at multiple companies and adjunct professor. Holds a B.A. from Boston College and both an M.B.A. and J.D. from the University of Chicago. | |
Kirsten Castillo Board | Director | Board Member at Ocugen, Inc. and The Marvin Companies | Director since October 2020; previously COO at GlobalTranz and CEO at Logistics Planning Services. Holds a B.S. from the University of Minnesota and an M.B.A. from Duke. | |
Ren\u00e9e F. Jones Board | Director | Chairman and CEO of M&T Bank Corporation; Director at Federal Reserve Bank of New York | Director since October 2020; extensive financial leadership experience. Holds a B.S. from Boston College and an M.B.A. from the University of Rochester. | |
Robert P. Goodman Board | Director | Partner at Bessemer Venture Partners; Board Member at CS Disco | Director since February 2017; Partner at Bessemer Venture Partners with extensive experience in entrepreneurial and tech companies. Holds a B.A. from Brown and an M.B.A. from Columbia. |
- Your guidance for Q4 revenue growth slows to 28%-32% year-over-year from the 44% growth achieved in Q3. Given you've seen a strong start to the fourth quarter , can you explain the factors leading to this expected deceleration, and whether there are underlying issues affecting your growth trajectory?
- The commercial segment currently represents only about 5% of your volume , yet you expect it to become a meaningful part of your business in the future. Given the early stages and the investments required , what specific challenges are you facing in scaling this segment, and when do you expect it to materially contribute to profitability?
- You've achieved impressive organic growth this quarter, driven by market share gains and high conversion rates. With anticipated seasonal declines in conversion rates and potential market headwinds, how sustainable is this growth, and what strategies do you have in place to maintain momentum?
- You've indicated plans to maintain average revenue per unit around $500 for now. As competitors raise prices ahead of inflation, do you see opportunities to increase pricing without impacting market share, and how do you balance this with offering competitive value to your dealer partners?
- While your AI-driven transportation service has delivered record revenue and improved margins , as AI technology becomes more widespread, how will you maintain a competitive edge in transportation services, and what risks do you foresee in sustaining these margin improvements?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Manheim | A large, national physical vehicle auction company and a subsidiary of Cox Enterprises, Inc. It has expanded into online wholesale marketplaces and auctions. |
Adesa | A large, national physical vehicle auction company and a subsidiary of Carvana. It is one of the major players in the North American physical vehicle auction market. |
OPENLANE | Competes in the online wholesale auction market, alongside other players in the industry. |
Recent developments and announcements about ACVA.
Earnings
New Earnings (Q4 2024)
·8 days agoView full earnings summary →ACVA’s Q4 2024 results show mid-teens unit growth in a flat wholesale market, powered by AI-driven pricing and strong dealer adoption. Margins climb with bundled transport, ARPU rose 9%, and adjusted EBITDA is on track for 150% growth. Will market share gains persist?