ACV Auctions Inc. - ACVA STOCK NEWS

ACV has announced a new contract with Toyota Financial Services France to leverage AI-powered technology from Monk. This collaboration will enable Toyota and Lexus dealerships across France to utilize an AI-based consumer inspection tool at the end of leasing contracts. The system allows for quick detection of vehicle damage through consumer-taken photos, which are analyzed to generate detailed vehicle condition reports. Following a successful pilot program, the integration aims to enhance transparency and efficiency in the off-lease process for consumers and dealers.

ACV (Nasdaq: ACVA) announced its participation in the 2023 JMP Securities Technology Conference on March 7, 2023, at 1:30 PM ET, with a webcast available on its investor relations website. The company is also set to host an analyst day on June 1, 2023, in New York City, starting at 1:00 PM ET. This event will feature a live webcast and a reception with management afterward. ACV aims to provide a trusted digital marketplace for vehicle transactions and data services, enhancing efficiency for dealers and commercial partners.

ACV, the top online automotive marketplace, reported its fourth quarter and full-year results for 2022. The fourth quarter revenue stood at $98 million, reflecting a 2% decrease year-over-year, while full-year revenue increased by 18% to $422 million. Despite facing market challenges, ACV gained market share and saw strong margin expansion. However, both the fourth quarter and full-year recorded significant GAAP net losses of $25 million and $102 million, respectively. For 2023, ACV anticipates revenue growth of 9% to 11%, with expected losses between $30 million and $35 million in Adjusted EBITDA.

ACV (Nasdaq: ACVA) is addressing dealer challenges at the NADA Show from January 26-29, 2023, with a series of educational events aimed at enhancing dealership operations. Highlights include a workshop led by VP Randy Barone focusing on used car management strategies, and participation in NADA's first-ever Shark Tank Pitch Competition featuring the innovative APEX tool. The ACV TEC Talks will also feature industry leaders discussing inventory management, sourcing, and vehicle appraisal.

These initiatives aim to empower dealers with data-driven insights to navigate market volatilities effectively.

ACV (NASDAQ: ACVA) will report its fourth quarter and full year 2022 financial results after market close on February 22, 2023. A conference call and live webcast will follow at 5:00 p.m. ET to discuss these results. Interested participants can pre-register for the call and access a live webcast through the provided links. ACV aims to transform the automotive industry by offering a trusted digital marketplace and data solutions for managing used vehicles. The company’s marketplace products include ACV Auctions, ACV Transportation, and ACV Capital, alongside data products such as True360 and MAX Digital.

ACV, the leading digital automotive marketplace, is enhancing consumer vehicle acquisition for dealers by introducing a configurable appraisal and acquisition solutions. These solutions utilize a brandable website widget that provides real-time pricing based on vehicle information, alongside a standardized dealer inspection process to ensure objectivity. In the past year, dealers using ACV's tools reported a 60% show rate for appointments and double the industry average for lead conversion. Additionally, upcoming enhancements will incorporate artificial intelligence for further valuation precision, contributing to a transparent dealer-consumer relationship.

ACV, a leader in the digital automotive marketplace, will showcase its customizable inventory management solutions at the 2023 NADA Show in Dallas from January 27-29. With an increasing need for efficient retail and wholesale vehicle management, ACV's offerings, including PRIVATE MARKETPLACES, help dealerships optimize their core inventory and operations. Notable dealer groups like Zeigler Automotive Group are leveraging ACV's technology for better inventory management. ACV emphasizes its commitment to dealer success through innovative, data-driven solutions designed to address industry challenges and enhance profitability.

ACV (Nasdaq: ACVA) will participate in the 2023 NADA Show, showcasing its expertise in dealership operations and data technology.

ACV will host an educational workshop on January 26, focusing on inventory management strategies led by Randy Barone. In addition, Michael Pokora and Philip Schneider will compete in a new Pitch Competition on January 27, presenting their advanced inspection tool, APEX, for a chance to be featured on the Live Stage.

CEO George Chamoun emphasizes the importance of connecting with dealer partners at this key industry event.

ACV (NASDAQ: ACVA), a leader in online automotive marketplaces, announced that its management team will present at the 2022 Raymond James Technology Investors Conference on December 6, 2022, at 11:30 AM ET. A live webcast will be available on their investor relations website, with an archived replay accessible after the event. ACV aims to revolutionize the automotive industry by providing a trusted digital marketplace and data solutions for used vehicle transactions. Their brands include ACV Auctions, ACV Transportation, and ACV Capital.