ACV Auctions Expects Q3 Revenue Of $158M-$162M Vs $157.8M Est, FY24 Revenue Of $615M-$625M Vs $616.9M Est
Portfolio Pulse from Benzinga Newsdesk
ACV Auctions has provided its guidance for Q3 2024 and the full year 2024. The company expects Q3 revenue between $158 million and $162 million, and full-year revenue between $615 million and $625 million. This represents a significant year-over-year increase. Despite expected GAAP net losses, the company anticipates positive non-GAAP net income and adjusted EBITDA for both periods.
August 08, 2024 | 7:30 am
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ACV Auctions expects Q3 2024 revenue of $158M-$162M and FY24 revenue of $615M-$625M, indicating strong growth. Despite GAAP net losses, the company anticipates positive non-GAAP net income and adjusted EBITDA.
The revenue guidance for both Q3 and FY24 shows significant year-over-year growth, which is a positive indicator for the company's performance. Although GAAP net losses are expected, the positive non-GAAP net income and adjusted EBITDA suggest operational improvements and profitability on an adjusted basis. This is likely to have a positive short-term impact on the stock price.
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