ACV Auctions Sees Q4 Revenue $116M-$120M Vs $116.49M Est.; FY23 Revenue $479M-$483M Vs $478.69M Est.
Portfolio Pulse from Benzinga Newsdesk
ACV Auctions has provided its Q4 and FY23 guidance. For Q4, it expects revenue of $116M-$120M, an increase of 18%-23% YoY, and a GAAP net loss of $24M-$26M. For FY23, it anticipates revenue of $479M-$483M, a 14%-15% YoY increase, and a GAAP net loss of $75M-$77M.
November 06, 2023 | 10:35 pm
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ACV Auctions expects higher revenues for Q4 and FY23, but also anticipates GAAP net losses for both periods.
While ACV Auctions is forecasting revenue growth for Q4 and FY23, it is also predicting GAAP net losses for these periods. This mixed outlook could lead to uncertainty among investors, potentially resulting in a neutral short-term impact on the company's stock.
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