What is ACV Auctions' operating income?

ACV Auctions' total operating income in 2025 was -$63.19 million, based on the following breakdown: Total Gross Profit: $398.20 million Total Operating Expenses: $461.39 million

ACV Auctions (ACVA) Financials

$7.01 +0.31 (+4.63%)

As of 03:58 PM Eastern

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Annual Income Statements for ACV Auctions

This table shows ACV Auctions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-77	-41	-78	-102	-75	-80	-66
Consolidated Net Income / (Loss)	-77	-41	-78	-102	-75	-80	-66
Net Income / (Loss) Continuing Operations	-77	-41	-78	-102	-75	-80	-66
Total Pre-Tax Income	-77	-41	-77	-102	-75	-79	-65
Total Operating Income	-79	-41	-77	-106	-90	-84	-63
Total Gross Profit	24	95	154	185	237	333	398
Total Revenue	107	208	358	422	481	637	760
Operating Revenue	107	208	358	422	481	637	760
Total Cost of Revenue	83	113	205	237	244	304	361
Operating Cost of Revenue	83	113	205	237	244	304	361
Total Operating Expenses	103	136	230	291	326	417	461
Selling, General & Admin Expense	62	65	121	144	167	217	235
Depreciation Expense	1.29	6.08	8.26	11	19	37	44
Other Operating Expenses / (Income)	40	65	101	137	141	163	183
Total Other Income / (Expense), net	2.09	0.12	-1.31	4.10	15	5.09	-1.61
Interest Expense	0.00	0.63	0.78	0.98	1.57	4.24	9.62
Interest & Investment Income	2.09	0.75	0.13	5.08	17	9.34	8.01
Income Tax Expense	0.03	0.49	0.72	0.09	0.53	0.69	1.34
Basic Earnings per Share	($4.20)	($1.90)	($0.62)	($0.65)	($0.47)	($0.48)	($0.39)
Weighted Average Basic Shares Outstanding	18.37M	21.60M	125.33M	156.99M	159.95M	164.85M	170.58M
Diluted Earnings per Share	($4.20)	($1.90)	($0.62)	($0.65)	($0.47)	($0.48)	($0.39)
Weighted Average Diluted Shares Outstanding	18.37M	21.60M	125.33M	156.99M	159.95M	164.85M	170.58M
Weighted Average Basic & Diluted Shares Outstanding	18.37M	21.60M	125.33M	158.80M	163.89M	168.77M	174.07M

This table shows ACV Auctions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-23	-20	-17	-16	-26	-15	-7.30	-24	-20	-11	-8.23
Consolidated Net Income / (Loss)	-23	-20	-17	-16	-26	-15	-7.30	-24	-20	-11	-8.23
Net Income / (Loss) Continuing Operations	-23	-20	-17	-16	-26	-15	-7.30	-24	-20	-11	-8.23
Total Pre-Tax Income	-23	-20	-17	-16	-26	-14	-7.33	-24	-19	-10	-7.68
Total Operating Income	-27	-23	-19	-17	-26	-14	-7.20	-24	-18	-9.24	-6.05
Total Gross Profit	58	77	82	90	84	99	102	107	90	105	107
Total Revenue	118	146	161	171	160	183	194	200	184	204	214
Operating Revenue	118	146	161	171	160	183	194	200	184	204	214
Total Cost of Revenue	61	69	79	81	76	83	91	93	94	99	107
Operating Cost of Revenue	61	69	79	81	76	83	91	93	94	99	107
Total Operating Expenses	85	100	100	107	109	114	110	130	108	115	113
Selling, General & Admin Expense	43	54	52	55	57	59	53	73	50	56	54
Depreciation Expense	6.90	7.79	8.85	9.72	10	11	11	11	11	12	12
Other Operating Expenses / (Income)	35	38	40	43	42	44	46	47	46	46	47
Total Other Income / (Expense), net	3.64	2.50	1.72	0.97	-0.10	-0.04	-0.13	-0.27	-1.17	-1.13	-1.63
Interest Expense	0.36	0.54	0.61	1.08	2.03	1.91	2.29	2.48	2.94	2.82	3.22
Interest & Investment Income	4.00	3.03	2.33	2.05	1.93	1.89	2.15	2.22	1.75	1.69	1.59
Income Tax Expense	0.12	0.44	0.15	-0.14	0.24	0.37	-0.03	0.48	0.52	0.53	0.55
Basic Earnings per Share	($0.15)	($0.13)	($0.10)	($0.10)	($0.15)	($0.09)	($0.04)	($0.14)	($0.12)	($0.06)	($0.05)
Weighted Average Basic Shares Outstanding	159.95M	162.89M	164.38M	165.72M	164.85M	168.35M	170.47M	171.35M	170.58M	173.36M	171.04M
Diluted Earnings per Share	($0.15)	($0.13)	($0.10)	($0.10)	($0.15)	($0.09)	($0.04)	($0.14)	($0.12)	($0.06)	($0.05)
Weighted Average Diluted Shares Outstanding	159.95M	162.89M	164.38M	165.72M	164.85M	168.35M	170.47M	171.35M	170.58M	173.36M	171.04M
Weighted Average Basic & Diluted Shares Outstanding	163.89M	165.09M	166.59M	167.64M	168.77M	171.06M	172.11M	172.17M	174.07M	174.58M	169.81M

This table details how cash moves in and out of ACV Auctions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	64	51	332	-285	-98	41	47
Net Cash From Operating Activities	-72	10	85	-75	-18	65	78
Net Cash From Continuing Operating Activities	-72	10	85	-75	-18	65	78
Net Income / (Loss) Continuing Operations	-77	-41	-78	-102	-75	-80	-66
Consolidated Net Income / (Loss)	-77	-41	-78	-102	-75	-80	-66
Depreciation Expense	1.84	7.24	8.75	11	19	37	44
Non-Cash Adjustments To Reconcile Net Income	4.22	8.72	29	50	59	79	94
Changes in Operating Assets and Liabilities, net	-1.31	35	126	-35	-21	30	6.18
Net Cash From Investing Activities	-25	-20	-129	-283	-111	-16	-74
Net Cash From Continuing Investing Activities	-25	-20	-129	-283	-111	-16	-74
Purchase of Property, Plant & Equipment	-6.59	-8.89	-14	-23	-28	-34	-45
Acquisitions	-15	-5.50	-65	-19	-30	-156	0.00
Purchase of Investments	0.00	0.00	-51	-308	-191	-58	-105
Sale of Property, Plant & Equipment	-	-	-	0.00	0.00	14	0.00
Sale and/or Maturity of Investments	-	0.00	0.00	67	138	219	75
Net Cash From Financing Activities	162	61	376	73	31	-7.87	43
Net Cash From Continuing Financing Activities	162	62	376	73	31	-7.87	43
Repayment of Debt	-0.95	-1.38	-14	-200	-381	-486	-360
Repurchase of Common Equity	0.00	0.00	-2.77	-5.46	-16	-27	-27
Issuance of Debt	0.00	6.79	5.25	275	420	492	424
Other Financing Activities, net	0.27	1.82	1.63	3.39	7.33	13	6.11
Effect of Exchange Rate Changes	-	0.00	0.00	-0.02	0.04	-0.17	0.28
Cash Interest Paid	0.00	0.17	0.37	0.49	0.99	3.05	7.86
Cash Income Taxes Paid	0.03	0.06	0.26	0.39	0.72	0.77	0.76

This table details how cash moves in and out of ACV Auctions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-44	27	5.13	38	-28	68	-34	6.98	6.15	69	-99
Net Cash From Operating Activities	-26	43	4.52	21	-3.22	67	14	10	-12	77	-35
Net Cash From Continuing Operating Activities	-26	43	4.52	21	-3.22	67	14	10	-12	77	-35
Net Income / (Loss) Continuing Operations	-23	-20	-17	-16	-26	-15	-7.30	-24	-20	-11	-8.23
Consolidated Net Income / (Loss)	-23	-20	-17	-16	-26	-15	-7.30	-24	-20	-11	-8.23
Depreciation Expense	6.88	7.80	8.88	9.77	10	11	11	11	11	12	12
Non-Cash Adjustments To Reconcile Net Income	15	17	18	22	22	19	19	37	20	20	19
Changes in Operating Assets and Liabilities, net	-25	38	-4.99	5.77	-9.59	52	-8.41	-14	-24	56	-58
Net Cash From Investing Activities	-25	-21	17	16	-28	-31	-63	-31	51	-15	-19
Net Cash From Continuing Investing Activities	-25	-21	17	16	-28	-31	-63	-31	51	-15	-19
Purchase of Property, Plant & Equipment	-7.33	-8.59	-9.14	-8.55	-7.97	-10	-12	-12	-11	-11	-12
Purchase of Investments	-44	-3.95	-20	-11	-24	-27	-69	-20	11	-3.36	-7.18
Net Cash From Financing Activities	7.58	5.29	-16	0.10	3.05	32	15	28	-32	7.91	-44
Net Cash From Continuing Financing Activities	7.58	5.29	-16	0.10	3.05	32	15	28	-32	7.91	-44
Repayment of Debt	-105	-180	-167	-110	-29	-57	-101	-100	-102	-75	-85
Repurchase of Common Equity	-4.75	-7.09	-6.02	-6.43	-7.59	-12	-5.83	-5.85	-3.38	-2.78	-52
Issuance of Debt	115	190	150	115	37	100	120	134	70	85	90
Other Financing Activities, net	2.42	2.40	6.41	1.83	2.70	0.38	2.68	0.23	2.81	0.69	2.62
Effect of Exchange Rate Changes	0.05	-0.05	-0.02	0.02	-0.12	0.03	0.18	0.03	0.04	-0.15	-0.09

This table presents ACV Auctions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	405	983	915	923	984	1,086
Total Current Assets	354	857	755	707	593	674
Cash & Equivalents	234	566	281	183	224	271
Note & Lease Receivable	8.50	44	78	119	139	180
Accounts Receivable	104	223	169	164	169	197
Other Current Assets	8.04	11	11	13	15	24
Plant, Property, & Equipment, net	4.91	4.92	5.71	4.92	7.63	13
Total Noncurrent Assets	45	121	154	211	383	399
Goodwill	22	79	92	103	180	184
Intangible Assets	11	18	19	90	69	82
Other Noncurrent Operating Assets	12	24	43	18	134	134
Total Liabilities & Shareholders' Equity	405	983	915	923	984	1,086
Total Liabilities	178	427	429	466	544	656
Total Current Liabilities	167	423	348	334	381	421
Accounts Payable	152	396	324	306	346	391
Accrued Expenses	12	27	25	28	36	30
Total Noncurrent Liabilities	11	3.50	81	132	163	235
Long-Term Debt	4.83	0.50	76	115	123	190
Other Noncurrent Operating Liabilities	6.38	3.00	5.48	17	40	45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-140	556	486	457	440	430
Total Preferred & Common Equity	227	556	486	457	440	430
Preferred Stock	366	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-140	556	486	457	440	430
Common Stock	27	801	837	881	945	997
Retained Earnings	-167	-245	-347	-423	-502	-568
Accumulated Other Comprehensive Income / (Loss)	-0.06	-0.04	-3.78	-1.53	-2.74	1.34

This table presents ACV Auctions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	995	936	959	1,045	1,011	1,034	1,152	1,138	1,166	1,235	1,079
Total Current Assets	831	752	742	696	614	639	760	738	763	824	670
Cash & Equivalents	317	272	226	210	215	253	292	258	265	341	242
Note & Lease Receivable	104	98	106	121	121	131	157	207	199	190	192
Accounts Receivable	189	144	169	219	209	204	244	210	219	269	216
Other Current Assets	12	9.51	17	14	12	17	18	16	29	24	20
Plant, Property, & Equipment, net	5.56	5.52	5.17	7.90	7.49	7.93	8.47	10	12	14	14
Total Noncurrent Assets	158	179	212	341	389	387	384	390	392	397	395
Goodwill	92	97	118	169	176	178	181	184	184	183	183
Intangible Assets	18	71	53	138	165	66	72	162	163	85	163
Other Noncurrent Operating Assets	48	11	42	33	48	143	130	45	46	130	49
Total Liabilities & Shareholders' Equity	995	936	959	1,045	1,011	1,034	1,152	1,138	1,166	1,235	1,079
Total Liabilities	514	460	492	586	553	578	713	689	732	804	689
Total Current Liabilities	413	345	367	430	412	422	507	463	472	560	442
Accounts Payable	388	320	338	393	368	386	470	431	439	527	410
Accrued Expenses	26	25	29	37	44	37	37	32	33	34	32
Total Noncurrent Liabilities	101	116	125	156	141	156	206	227	260	244	248
Long-Term Debt	96	105	105	125	110	115	167	187	220	200	205
Other Noncurrent Operating Liabilities	5.38	11	20	31	31	41	39	40	40	44	43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	481	476	467	458	458	456	440	449	434	431	390
Total Preferred & Common Equity	481	476	467	458	458	456	440	449	434	431	390
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	481	476	467	458	458	456	440	449	434	431	390
Common Stock	849	861	870	903	919	933	958	972	982	1,010	978
Retained Earnings	-366	-381	-399	-443	-460	-476	-517	-524	-549	-579	-588
Accumulated Other Comprehensive Income / (Loss)	-2.53	-3.48	-3.65	-1.79	-1.62	-0.17	-1.52	1.65	1.38	0.26	-0.06

This table displays calculated financial ratios and metrics derived from ACV Auctions' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	95.01%	72.03%	17.60%	14.16%	32.40%	19.22%
EBITDA Growth	0.00%	56.87%	-105.69%	-38.03%	25.77%	32.81%	58.88%
EBIT Growth	0.00%	48.73%	-90.56%	-37.12%	15.57%	6.21%	24.87%
NOPAT Growth	0.00%	48.73%	-88.96%	-38.28%	15.57%	6.21%	24.87%
Net Income Growth	0.00%	46.88%	-90.59%	-30.71%	26.35%	-5.90%	17.01%
EPS Growth	0.00%	54.76%	67.37%	-4.84%	27.69%	-2.13%	18.75%
Operating Cash Flow Growth	0.00%	114.31%	722.63%	-188.14%	76.21%	465.65%	19.63%
Free Cash Flow Firm Growth	0.00%	0.00%	-25.33%	-393.56%	2.25%	-20.93%	48.05%
Invested Capital Growth	0.00%	0.00%	-928.81%	378.47%	148.19%	82.84%	18.87%
Revenue Q/Q Growth	0.00%	0.00%	14.88%	-0.52%	4.43%	6.90%	3.28%
EBITDA Q/Q Growth	0.00%	0.00%	-25.26%	-1.03%	5.67%	8.59%	31.42%
EBIT Q/Q Growth	0.00%	0.00%	-22.73%	-1.53%	0.58%	1.14%	11.18%
NOPAT Q/Q Growth	0.00%	0.00%	-21.70%	-1.53%	0.58%	1.14%	11.18%
Net Income Q/Q Growth	0.00%	0.00%	-21.91%	1.73%	1.66%	-3.77%	9.04%
EPS Q/Q Growth	0.00%	0.00%	83.42%	-66.67%	0.00%	0.00%	7.14%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	8.69%	4.16%	-304.52%	55.26%	-10.46%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	1.91%	-34.15%	13.37%	5.01%
Invested Capital Q/Q Growth	0.00%	0.00%	7.65%	-3.52%	31.47%	3.33%	2.88%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	22.53%	45.74%	42.88%	43.86%	49.20%	52.22%	52.42%
EBITDA Margin	-72.48%	-16.03%	-19.17%	-22.50%	-14.63%	-7.42%	-2.56%
Operating Margin	-74.20%	-19.51%	-21.43%	-25.20%	-18.63%	-13.20%	-8.32%
EBIT Margin	-74.20%	-19.51%	-21.61%	-25.20%	-18.63%	-13.20%	-8.32%
Profit (Net Income) Margin	-72.27%	-19.69%	-21.81%	-24.24%	-15.64%	-12.51%	-8.71%
Tax Burden Percent	100.04%	101.21%	100.93%	100.09%	100.70%	100.87%	102.06%
Interest Burden Percent	97.36%	99.72%	100.00%	96.14%	83.34%	93.94%	102.55%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-359.45%	-55.86%	-25.99%	-13.80%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-353.88%	-52.38%	-16.59%	5.37%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	339.83%	39.89%	8.21%	-1.41%
Return on Equity (ROE)	0.00%	29.37%	-37.55%	-19.62%	-15.97%	-17.78%	-15.21%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-251.09%	-140.98%	-84.56%	-31.05%
Operating Return on Assets (OROA)	0.00%	-10.05%	-11.17%	-11.19%	-9.76%	-8.82%	-6.11%
Return on Assets (ROA)	0.00%	-10.14%	-11.27%	-10.77%	-8.19%	-8.36%	-6.39%
Return on Common Equity (ROCE)	0.00%	29.37%	-37.55%	-19.62%	-15.97%	-17.78%	-15.21%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-18.10%	-14.06%	-21.04%	-16.49%	-18.11%	0.00%
Net Operating Profit after Tax (NOPAT)	-55	-28	-54	-74	-63	-59	-44
NOPAT Margin	-51.94%	-13.66%	-15.00%	-17.64%	-13.04%	-9.24%	-5.82%
Net Nonoperating Expense Percent (NNEP)	0.00%	18.29%	-11.05%	-5.57%	-3.48%	-9.39%	-19.17%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-13.25%	-10.98%	-10.46%	-7.14%
Cost of Revenue to Revenue	77.47%	54.26%	57.12%	56.14%	50.80%	47.78%	47.58%
SG&A Expenses to Revenue	58.44%	31.14%	33.80%	34.08%	34.60%	34.13%	30.94%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	96.73%	65.25%	64.30%	69.05%	67.84%	65.42%	60.74%
Earnings before Interest and Taxes (EBIT)	-79	-41	-77	-106	-90	-84	-63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-77	-33	-69	-95	-70	-47	-19
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.27	2.67	5.36	8.23	3.21
Price to Tangible Book Value (P/TBV)	0.00	0.00	6.38	3.47	9.29	36.16	16.64
Price to Revenue (P/Rev)	3.87	1.99	8.18	3.08	5.08	5.68	1.82
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	13.60	13.42	11.86	3.73
Enterprise Value to Revenue (EV/Rev)	0.00	2.65	6.56	2.08	4.47	5.45	1.71
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	53.16	27.57	0.00	0.00	53.12	16.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	-0.03	0.00	0.16	0.25	0.28	0.44
Long-Term Debt to Equity	0.00	-0.03	0.00	0.16	0.25	0.28	0.44
Financial Leverage	0.00	-0.98	-1.06	-0.96	-0.76	-0.49	-0.26
Leverage Ratio	0.00	-2.90	3.33	1.82	1.95	2.13	2.38
Compound Leverage Factor	0.00	-2.89	3.33	1.75	1.63	2.00	2.44
Debt to Total Capital	0.00%	-3.58%	0.09%	13.45%	20.12%	21.85%	30.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	-3.58%	0.09%	13.45%	20.12%	21.85%	30.66%
Preferred Equity to Total Capital	0.00%	-271.64%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	103.58%	99.91%	86.55%	79.88%	78.15%	69.34%
Debt to EBITDA	0.00	-0.14	-0.01	-0.80	-1.63	-2.60	-9.77
Net Debt to EBITDA	0.00	6.85	8.43	4.44	4.21	3.11	4.19
Long-Term Debt to EBITDA	0.00	-0.14	-0.01	-0.80	-1.63	-2.60	-9.77
Debt to NOPAT	0.00	-0.17	-0.01	-1.02	-1.83	-2.09	-4.30
Net Debt to NOPAT	0.00	8.04	10.77	5.67	4.72	2.50	1.84
Long-Term Debt to NOPAT	0.00	-0.17	-0.01	-1.02	-1.83	-2.09	-4.30
Altman Z-Score	0.00	1.56	4.41	1.90	3.19	3.90	1.32
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.13	2.03	2.17	2.12	1.56	1.60
Quick Ratio	0.00	2.08	2.00	2.14	2.08	1.52	1.54
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-26	-33	-162	-158	-192	-100
Operating Cash Flow to CapEx	-1,099.04%	116.69%	607.96%	-321.32%	-63.49%	324.42%	175.20%
Free Cash Flow to Firm to Interest Expense	0.00	-41.39	-41.99	-165.55	-101.23	-45.14	-10.34
Operating Cash Flow to Interest Expense	0.00	16.38	109.07	-76.79	-11.43	15.41	8.13
Operating Cash Flow Less CapEx to Interest Expense	0.00	2.34	91.13	-100.69	-29.43	10.66	3.49
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.52	0.52	0.44	0.52	0.67	0.73
Accounts Receivable Turnover	0.00	2.00	2.19	2.15	2.89	3.83	4.15
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	42.42	72.94	79.34	90.56	101.60	74.19
Accounts Payable Turnover	0.00	0.74	0.75	0.66	0.78	0.93	0.98
Days Sales Outstanding (DSO)	0.00	182.43	166.44	169.49	126.19	95.32	87.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	490.65	488.39	554.96	469.97	390.52	371.88
Cash Conversion Cycle (CCC)	0.00	-308.23	-321.95	-385.47	-343.78	-295.20	-283.94
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-2.25	-23	65	160	293	348
Invested Capital Turnover	0.00	-184.96	-28.19	20.38	4.28	2.81	2.37
Increase / (Decrease) in Invested Capital	0.00	-2.25	-21	88	96	133	55
Enterprise Value (EV)	0.00	551	2,352	878	2,149	3,474	1,299
Market Capitalization	414	414	2,931	1,299	2,446	3,621	1,381
Book Value per Share	$0.00	($6.47)	$3.57	$3.07	$2.83	$2.62	$2.50
Tangible Book Value per Share	$0.00	($8.01)	$2.95	$2.37	$1.63	$0.60	$0.48
Total Capital	0.00	-135	557	561	572	563	620
Total Debt	0.00	4.83	0.50	76	115	123	190
Total Long-Term Debt	0.00	4.83	0.50	76	115	123	190
Net Debt	0.00	-229	-579	-421	-296	-147	-81
Capital Expenditures (CapEx)	6.59	8.89	14	23	28	20	45
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-46	-146	-90	-38	-58	-19
Debt-free Net Working Capital (DFNWC)	0.00	188	434	407	373	212	253
Net Working Capital (NWC)	0.00	188	434	407	373	212	253
Net Nonoperating Expense (NNE)	22	13	24	28	12	21	22
Net Nonoperating Obligations (NNO)	0.00	137	-579	-421	-296	-147	-81
Total Depreciation and Amortization (D&A)	1.84	7.24	8.75	11	19	37	44
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-22.09%	-40.66%	-21.38%	-7.97%	-9.11%	-2.48%
Debt-free Net Working Capital to Revenue	0.00%	90.09%	121.10%	96.45%	77.50%	33.28%	33.26%
Net Working Capital to Revenue	0.00%	90.09%	121.10%	96.45%	77.50%	33.28%	33.26%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.62)	($0.65)	($0.47)	($0.48)	($0.39)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	156.27M	156.99M	159.95M	164.85M	170.58M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.62)	($0.65)	($0.47)	($0.48)	($0.39)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	156.27M	156.99M	159.95M	164.85M	170.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($0.62)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	125.33M	158.80M	163.89M	168.77M	174.07M
Normalized Net Operating Profit after Tax (NOPAT)	-55	-28	-54	-74	-63	-59	-44
Normalized NOPAT Margin	-51.94%	-13.66%	-15.00%	-17.64%	-13.04%	-9.24%	-5.82%
Pre Tax Income Margin	-72.24%	-19.45%	-21.61%	-24.22%	-15.53%	-12.40%	-8.53%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-64.21	-99.05	-108.49	-57.30	-19.82	-6.57
NOPAT to Interest Expense	0.00	-44.95	-68.75	-75.94	-40.11	-13.87	-4.60
EBIT Less CapEx to Interest Expense	0.00	-78.25	-116.99	-132.39	-75.30	-24.57	-11.21
NOPAT Less CapEx to Interest Expense	0.00	-58.99	-86.69	-99.84	-58.11	-18.62	-9.24
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-3.54%	-5.34%	-21.29%	-34.04%	-40.62%

This table displays calculated financial ratios and metrics derived from ACV Auctions' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	174,071,580.00	174,584,894.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	174,071,580.00	174,584,894.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.06	-0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.83%	21.79%	29.31%	43.96%	34.75%	25.40%	20.59%	16.48%	15.13%	11.77%	10.45%
EBITDA Growth	17.56%	15.58%	38.46%	57.15%	22.36%	73.48%	137.98%	-72.86%	57.70%	168.73%	61.59%
EBIT Growth	1.92%	-8.13%	5.81%	23.10%	3.62%	35.85%	61.40%	-38.38%	30.82%	36.09%	15.97%
NOPAT Growth	1.92%	-8.13%	5.81%	23.10%	3.62%	35.94%	61.40%	-38.38%	30.82%	36.00%	15.97%
Net Income Growth	5.20%	-12.48%	-9.50%	12.11%	-12.46%	27.62%	57.23%	-52.63%	25.16%	26.49%	-12.73%
EPS Growth	0.00%	-18.18%	0.00%	9.09%	0.00%	30.77%	60.00%	-40.00%	20.00%	33.33%	-25.00%
Operating Cash Flow Growth	-19,873.13%	-0.01%	123.01%	243.27%	87.85%	55.03%	203.70%	-51.47%	-283.97%	14.84%	-358.83%
Free Cash Flow Firm Growth	-7.07%	-485.79%	-1,010.95%	-146.07%	-31.80%	84.27%	82.12%	58.77%	55.05%	1.21%	35.21%
Invested Capital Growth	148.19%	378.35%	264.88%	132.63%	82.84%	9.29%	12.06%	19.39%	18.87%	9.72%	6.68%
Revenue Q/Q Growth	-0.54%	23.07%	10.25%	6.66%	-6.90%	14.53%	6.02%	3.02%	-7.98%	11.19%	4.77%
EBITDA Q/Q Growth	-15.63%	25.96%	33.71%	24.50%	-109.51%	74.71%	194.93%	-443.67%	48.74%	141.10%	123.17%
EBIT Q/Q Growth	-20.10%	15.84%	17.25%	8.06%	-50.52%	43.98%	50.21%	-229.63%	24.75%	48.25%	34.54%
NOPAT Q/Q Growth	-20.10%	15.84%	17.25%	8.06%	-50.52%	44.06%	50.14%	-229.63%	24.75%	48.25%	34.54%
Net Income Q/Q Growth	-27.43%	11.92%	16.65%	6.06%	-63.06%	43.31%	50.75%	-235.23%	20.05%	44.32%	24.47%
EPS Q/Q Growth	-36.36%	13.33%	23.08%	0.00%	-50.00%	40.00%	55.56%	-250.00%	14.29%	50.00%	16.67%
Operating Cash Flow Q/Q Growth	-79.69%	262.19%	-89.49%	367.78%	-115.24%	2,169.71%	-79.41%	-25.24%	-220.55%	719.01%	-146.40%
Free Cash Flow Firm Q/Q Growth	-62.13%	-80.99%	-9.74%	23.58%	13.16%	78.41%	-24.76%	-76.22%	5.30%	52.55%	18.18%
Invested Capital Q/Q Growth	31.47%	50.94%	21.99%	-3.90%	3.33%	-9.78%	25.09%	2.38%	2.88%	-16.72%	21.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.77%	52.98%	50.93%	52.58%	52.43%	54.36%	52.90%	53.42%	48.90%	51.61%	49.88%
EBITDA Margin	-16.80%	-10.11%	-6.08%	-4.30%	-9.68%	-2.14%	1.91%	-6.38%	-3.56%	1.31%	2.80%
Operating Margin	-22.61%	-15.46%	-11.61%	-10.00%	-16.17%	-7.90%	-3.71%	-11.88%	-9.72%	-4.52%	-2.83%
EBIT Margin	-22.61%	-15.46%	-11.61%	-10.00%	-16.17%	-7.91%	-3.71%	-11.88%	-9.72%	-4.52%	-2.83%
Profit (Net Income) Margin	-19.63%	-14.05%	-10.62%	-9.36%	-16.39%	-8.11%	-3.77%	-12.26%	-10.65%	-5.33%	-3.85%
Tax Burden Percent	100.51%	102.20%	100.86%	99.15%	100.93%	102.53%	99.58%	102.01%	102.74%	105.11%	107.18%
Interest Burden Percent	86.39%	88.92%	90.76%	94.32%	100.38%	100.00%	101.86%	101.12%	106.68%	112.19%	126.96%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-67.78%	-37.56%	-23.51%	-20.59%	-31.84%	-14.73%	-5.88%	-19.68%	-16.12%	-8.92%	-4.64%
ROIC Less NNEP Spread (ROIC-NNEP)	-66.53%	-36.11%	-22.07%	-19.04%	-28.20%	-12.32%	-4.27%	-13.83%	-9.94%	-6.13%	0.50%
Return on Net Nonoperating Assets (RNNOA)	50.66%	24.87%	13.19%	10.68%	13.95%	5.38%	1.32%	4.17%	2.61%	2.23%	-0.09%
Return on Equity (ROE)	-17.12%	-12.69%	-10.32%	-9.91%	-17.89%	-9.35%	-4.56%	-15.51%	-13.51%	-6.70%	-4.73%
Cash Return on Invested Capital (CROIC)	-140.98%	-174.59%	-147.57%	-109.13%	-84.56%	-29.90%	-25.83%	-33.69%	-31.05%	-23.92%	-18.11%
Operating Return on Assets (OROA)	-11.84%	-7.69%	-6.48%	-5.98%	-10.81%	-4.85%	-2.44%	-7.94%	-7.13%	-2.96%	-2.04%
Return on Assets (ROA)	-10.28%	-6.99%	-5.93%	-5.59%	-10.95%	-4.98%	-2.48%	-8.19%	-7.82%	-3.49%	-2.78%
Return on Common Equity (ROCE)	-17.12%	-12.69%	-10.32%	-9.91%	-17.89%	-9.35%	-4.56%	-15.51%	-13.51%	-6.70%	-4.73%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-16.92%	-17.27%	-16.84%	0.00%	-16.85%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-19	-16	-13	-12	-18	-10	-5.04	-17	-12	-6.47	-4.23
NOPAT Margin	-15.83%	-10.82%	-8.12%	-7.00%	-11.32%	-5.53%	-2.60%	-8.32%	-6.80%	-3.17%	-1.98%
Net Nonoperating Expense Percent (NNEP)	-1.26%	-1.45%	-1.44%	-1.56%	-3.64%	-2.41%	-1.61%	-5.85%	-6.18%	-2.80%	-5.14%
Return On Investment Capital (ROIC_SIMPLE)	-3.28%	-	-	-	-3.21%	-1.67%	-0.79%	-2.54%	-2.02%	-1.02%	-0.71%
Cost of Revenue to Revenue	51.23%	47.02%	49.07%	47.42%	47.57%	45.64%	47.10%	46.58%	51.10%	48.39%	50.12%
SG&A Expenses to Revenue	36.10%	36.96%	32.32%	32.09%	35.54%	32.30%	27.35%	36.49%	27.32%	27.54%	25.14%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	71.38%	68.44%	62.54%	62.59%	68.60%	62.26%	56.62%	65.30%	58.62%	56.14%	52.71%
Earnings before Interest and Taxes (EBIT)	-27	-23	-19	-17	-26	-14	-7.20	-24	-18	-9.24	-6.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-15	-9.76	-7.37	-15	-3.91	3.71	-13	-6.53	2.68	5.99
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.36	6.61	6.58	7.42	8.23	5.41	6.18	3.93	3.21	1.71	3.22
Price to Tangible Book Value (P/TBV)	9.29	20.10	25.81	15.97	36.16	12.78	26.87	19.41	16.64	4.53	28.34
Price to Revenue (P/Rev)	5.08	5.97	5.54	5.68	5.68	3.53	3.92	2.32	1.82	0.94	1.57
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	13.42	11.64	9.66	11.34	11.86	8.34	8.04	4.76	3.73	2.06	3.45
Enterprise Value to Revenue (EV/Rev)	4.47	5.55	5.24	5.39	5.45	3.27	3.76	2.19	1.71	0.76	1.52
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	456.03	76.30	53.12	24.74	27.04	18.42	16.61	6.78	31.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.27	0.24	0.25	0.28	0.38	0.42	0.51	0.44	0.46	0.53
Long-Term Debt to Equity	0.25	0.27	0.24	0.25	0.28	0.38	0.42	0.51	0.44	0.46	0.53
Financial Leverage	-0.76	-0.69	-0.60	-0.56	-0.49	-0.44	-0.31	-0.30	-0.26	-0.36	-0.19
Leverage Ratio	1.95	2.17	2.09	2.16	2.13	2.45	2.37	2.47	2.38	2.74	2.64
Compound Leverage Factor	1.69	1.93	1.89	2.04	2.14	2.45	2.42	2.50	2.54	3.08	3.36
Debt to Total Capital	20.12%	21.43%	19.38%	20.13%	21.85%	27.47%	29.36%	33.62%	30.66%	31.70%	34.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	20.12%	21.43%	19.38%	20.13%	21.85%	27.47%	29.36%	33.62%	30.66%	31.70%	34.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	79.88%	78.57%	80.62%	79.87%	78.15%	72.53%	70.64%	66.38%	69.34%	68.30%	65.54%
Debt to EBITDA	-1.63	-1.85	-1.79	-2.22	-2.60	-4.57	-8.11	-7.76	-9.77	-15.53	-19.35
Net Debt to EBITDA	4.21	3.20	2.64	3.34	3.11	4.81	5.14	3.39	4.19	10.94	3.52
Long-Term Debt to EBITDA	-1.63	-1.85	-1.79	-2.22	-2.60	-4.57	-8.11	-7.76	-9.77	-15.53	-19.35
Debt to NOPAT	-1.83	-1.95	-1.74	-1.93	-2.09	-3.13	-4.13	-4.42	-4.30	-4.93	-5.15
Net Debt to NOPAT	4.72	3.38	2.58	2.90	2.50	3.29	2.62	1.93	1.84	3.47	0.94
Long-Term Debt to NOPAT	-1.83	-1.95	-1.74	-1.93	-2.09	-3.13	-4.13	-4.42	-4.30	-4.93	-5.15
Altman Z-Score	3.42	3.23	3.35	3.64	4.10	2.18	2.66	1.60	1.45	0.76	1.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.12	1.62	1.49	1.51	1.56	1.50	1.60	1.62	1.60	1.47	1.52
Quick Ratio	2.08	1.59	1.46	1.47	1.52	1.46	1.56	1.56	1.54	1.43	1.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-114	-207	-227	-174	-151	-33	-41	-72	-68	-32	-26
Operating Cash Flow to CapEx	-361.33%	500.41%	49.41%	247.22%	-40.39%	661.15%	113.72%	89.11%	-112.26%	669.09%	-296.96%
Free Cash Flow to Firm to Interest Expense	-317.74	-386.96	-374.88	-161.19	-74.42	-17.05	-17.77	-28.83	-23.05	-11.40	-8.17
Operating Cash Flow to Interest Expense	-73.60	80.33	7.45	19.61	-1.59	34.88	6.00	4.13	-4.20	27.13	-11.02
Operating Cash Flow Less CapEx to Interest Expense	-93.97	64.27	-7.63	11.68	-5.52	29.61	0.72	-0.50	-7.95	23.08	-14.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.50	0.56	0.60	0.67	0.61	0.66	0.67	0.73	0.65	0.72
Accounts Receivable Turnover	2.89	2.48	3.08	3.20	3.83	2.91	3.38	3.48	4.15	3.05	3.76
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	90.56	75.37	83.59	91.00	101.60	82.36	80.25	74.78	74.19	70.62	65.43
Accounts Payable Turnover	0.78	0.65	0.78	0.80	0.93	0.74	0.83	0.83	0.98	0.76	0.93
Days Sales Outstanding (DSO)	126.19	146.95	118.35	114.07	95.32	125.32	107.98	104.88	87.93	119.75	97.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	469.97	562.75	467.65	456.78	390.52	493.51	439.30	438.23	371.88	482.83	390.60
Cash Conversion Cycle (CCC)	-343.78	-415.80	-349.30	-342.71	-295.20	-368.18	-331.33	-333.35	-283.94	-363.09	-293.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	160	242	295	283	293	264	331	338	348	290	353
Invested Capital Turnover	4.28	3.47	2.89	2.94	2.81	2.66	2.26	2.37	2.37	2.82	2.35
Increase / (Decrease) in Invested Capital	96	191	214	162	133	22	36	55	55	26	22
Enterprise Value (EV)	2,149	2,814	2,850	3,214	3,474	2,203	2,656	1,610	1,299	597	1,218
Market Capitalization	2,446	3,030	3,013	3,387	3,621	2,378	2,775	1,706	1,381	738	1,255
Book Value per Share	$2.83	$2.81	$2.77	$2.74	$2.62	$2.60	$2.62	$2.52	$2.50	$2.48	$2.23
Tangible Book Value per Share	$1.63	$0.93	$0.71	$1.27	$0.60	$1.10	$0.60	$0.51	$0.48	$0.94	$0.25
Total Capital	572	583	568	571	563	606	635	654	620	631	595
Total Debt	115	125	110	115	123	167	187	220	190	200	205
Total Long-Term Debt	115	125	110	115	123	167	187	220	190	200	205
Net Debt	-296	-216	-163	-173	-147	-175	-118	-96	-81	-141	-37
Capital Expenditures (CapEx)	7.33	8.59	9.14	8.55	7.97	10	12	12	11	11	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-38	-75	-71	-71	-58	-89	-29	-25	-19	-77	-14
Debt-free Net Working Capital (DFNWC)	373	266	202	217	212	253	275	291	253	264	228
Net Working Capital (NWC)	373	266	202	217	212	253	275	291	253	264	228
Net Nonoperating Expense (NNE)	4.50	4.70	4.01	4.03	8.08	4.72	2.26	7.86	7.07	4.43	3.99
Net Nonoperating Obligations (NNO)	-296	-216	-163	-173	-147	-175	-118	-96	-81	-141	-37
Total Depreciation and Amortization (D&A)	6.88	7.80	8.88	9.77	10	11	11	11	11	12	12
Debt-free, Cash-free Net Working Capital to Revenue	-7.97%	-14.85%	-13.00%	-11.87%	-9.11%	-13.20%	-4.16%	-3.43%	-2.48%	-9.86%	-1.74%
Debt-free Net Working Capital to Revenue	77.50%	52.47%	37.14%	36.41%	33.28%	37.50%	38.92%	39.54%	33.26%	33.79%	28.50%
Net Working Capital to Revenue	77.50%	52.47%	37.14%	36.41%	33.28%	37.50%	38.92%	39.54%	33.26%	33.79%	28.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.15)	($0.13)	($0.10)	($0.10)	($0.15)	($0.09)	($0.04)	($0.14)	($0.12)	($0.06)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	159.95M	162.89M	164.38M	165.72M	164.85M	168.35M	170.47M	171.35M	170.58M	173.36M	171.04M
Adjusted Diluted Earnings per Share	($0.15)	($0.13)	($0.10)	($0.10)	($0.15)	($0.09)	($0.04)	($0.14)	($0.12)	($0.06)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	159.95M	162.89M	164.38M	165.72M	164.85M	168.35M	170.47M	171.35M	170.58M	173.36M	171.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	163.89M	165.09M	166.59M	167.64M	168.77M	171.06M	172.11M	172.17M	174.07M	174.58M	169.81M
Normalized Net Operating Profit after Tax (NOPAT)	-19	-16	-13	-12	-18	-10	-5.04	-17	-12	-6.47	-4.23
Normalized NOPAT Margin	-15.83%	-10.82%	-8.12%	-7.00%	-11.32%	-5.53%	-2.60%	-8.32%	-6.80%	-3.17%	-1.98%
Pre Tax Income Margin	-19.53%	-13.75%	-10.53%	-9.44%	-16.23%	-7.91%	-3.78%	-12.02%	-10.37%	-5.07%	-3.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-74.35	-42.11	-30.76	-15.91	-12.73	-7.57	-3.15	-9.55	-6.07	-3.28	-1.88
NOPAT to Interest Expense	-52.05	-29.47	-21.53	-11.14	-8.91	-5.29	-2.20	-6.69	-4.25	-2.29	-1.31
EBIT Less CapEx to Interest Expense	-94.72	-58.16	-45.84	-23.85	-16.67	-12.84	-8.42	-14.19	-9.81	-7.33	-5.59
NOPAT Less CapEx to Interest Expense	-72.41	-45.53	-36.61	-19.07	-12.85	-10.56	-7.48	-11.32	-7.99	-6.35	-5.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-21.29%	-25.15%	-28.48%	-31.62%	-34.04%	-43.01%	-49.25%	-42.75%	-40.62%	-28.67%	-100.75%

Financials Breakdown Chart

Key Financial Trends

ACV Auctions’ financial profile shows strong revenue growth and improving losses, but profitability and cash generation remain uneven. Revenue reached $213.9 million in Q2 2026, up 4.8% from Q1 2026 and 10.6% from Q2 2025. Compared with Q2 2023, revenue has increased approximately 72%, indicating continued expansion of the company’s auction marketplace and related services.

Gross profit also increased to $106.7 million in Q2 2026 from $102.5 million in Q2 2025. However, the gross margin declined to approximately 49.9% from 52.9% a year earlier and 51.6% in Q1 2026. This suggests that revenue growth has recently come with some pressure on unit economics or transaction-related costs.

ACV Auctions has made progress reducing operating losses over the longer term. The Q2 2026 operating loss was $6.0 million, compared with losses of $17.8 million in Q4 2025 and $23.7 million in Q3 2025. The net loss narrowed to $8.2 million, or $0.05 per diluted share, from $10.9 million, or $0.06 per share, in Q1 2026. Nevertheless, the company remains unprofitable, and quarterly results have not yet established a consistent path to positive earnings.

The balance sheet remains reasonably liquid, although liquidity weakened during the latest quarter. Cash and equivalents declined from $341.0 million at the end of Q1 2026 to $242.3 million at the end of Q2. Current assets of $670.0 million exceeded current liabilities of $441.6 million, producing a current ratio of approximately 1.5. Long-term debt stood at $205.0 million, leaving the company with roughly $37 million of cash net of long-term debt before considering receivables and other liquid assets.

Revenue growth remains a key strength: quarterly revenue increased from $105.4 million in Q3 2022 to $213.9 million in Q2 2026, roughly doubling over the period.
Losses are narrowing: Q2 2026’s $8.2 million net loss was materially better than the $26.1 million loss reported in Q4 2024 and the $19.6 million loss in Q4 2025.
Operating leverage is emerging: the operating loss improved to $6.0 million in Q2 2026 from $9.2 million in Q1 and $17.8 million in Q4 2025, despite continued investment in the business.
Gross profit dollars continue to rise: gross profit reached $106.7 million in Q2 2026, up from $81.3 million in Q2 2024 and $60.5 million in Q2 2023.
Share repurchases have reduced dilution pressure: weighted average basic shares declined to 171.0 million in Q2 2026 from 173.4 million in Q1 2026, partly reflecting the company’s repurchase activity.
Cash flow is highly volatile: ACV generated $76.5 million of operating cash flow in Q1 2026 but used $35.5 million in Q2. Earlier quarters also alternated between positive and negative operating cash flow, making short-term cash trends difficult to predict.
Receivables are a major part of the asset base: notes and lease receivables plus accounts receivable totaled approximately $408.0 million in Q2 2026. Their conversion into cash will remain important to liquidity and operating cash flow.
ACV remains consistently unprofitable: the company reported net losses in every quarter presented, with retained earnings reaching a deficit of $587.6 million at the end of Q2 2026.
Latest-quarter cash consumption was substantial: cash declined by $98.7 million in Q2 2026 after negative operating and investing cash flow, debt repayments, and a $51.6 million share repurchase.
Margins have recently weakened: gross margin fell below 50% in Q2 2026 after generally improving from 2022 through 2025, while accounts payable remained elevated at $410.1 million.

Investor takeaway: ACV Auctions is growing quickly and moving closer to operating profitability, but the investment case still depends on the company converting revenue growth into stable margins and consistently positive operating cash flow. The latest quarter’s sharp cash decline, ongoing net losses, debt activity, and margin compression are important risks for investors to monitor.

09/04/26 10:08 PM ETAI Generated. May Contain Errors.

ACV Auctions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ACV Auctions' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

ACV Auctions' net income were at -$66.14 million at the end of 2025, a 17.0% decrease from 2024, and a 14.3% decrease since 2019. View ACV Auctions' forecast to see where analysts expect ACV Auctions to go next.

ACV Auctions' total operating income in 2025 was -$63.19 million, based on the following breakdown:

Total Gross Profit: $398.20 million
Total Operating Expenses: $461.39 million

Over the last 6 years, ACV Auctions' total revenue changed from $106.85 million in 2019 to $759.61 million in 2025, a change of 610.9%.

ACV Auctions' total liabilities were at $655.93 million at the end of 2025, a 20.5% increase from 2024, and a 268.7% increase since 2020.

In the past 5 years, ACV Auctions' cash and equivalents has ranged from $182.57 million in 2023 to $565.99 million in 2021, and is currently $271.50 million as of their latest financial filing in 2025.

Over the last 6 years, ACV Auctions' book value per share changed from 0.00 in 2019 to 2.50 in 2025, a change of 249.6%.

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Financial statements for NYSE:ACVA last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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ACV Auctions (ACVA) Financials

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ACV Auctions (ACVA) Financials

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