ACV Auctions | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 204.19 M

Revenue: As of FY2026 Q1, the actual value is USD 204.19 M, beating the estimate of USD 201.7 M.

EPS: As of FY2026 Q1, the actual value is USD -0.06.

EBIT: As of FY2026 Q1, the actual value is USD -8.11 M.

First Quarter 2026 Highlights

ACV Auctions Inc. reported total revenue of $204 million for the first quarter of 2026, marking a 12% increase year over year compared to $182,697 thousand in the first quarter of 2025.

Segment Revenue

Marketplace and service revenue reached $182 million, an increase of 10% year over year from $165,937 thousand in the first quarter of 2025. Customer assurance revenue was $21,982 thousand in the first quarter of 2026, up from $16,760 thousand in the first quarter of 2025.

Net Income

GAAP net income (loss) for the first quarter of 2026 was - $11 million, an improvement from - $15 million in the first quarter of 2025. Non-GAAP net income remained consistent at $7 million in both the first quarter of 2026 and 2025.

Adjusted EBITDA

Adjusted EBITDA for the first quarter of 2026 was $17 million, compared to $14 million in the first quarter of 2025.

Operational Metrics

Marketplace GMV grew to $2.7 billion, representing a 5% increase year over year. Marketplace Units totaled 213,492, an increase of 3% year over year.

Operating Expenses

For the three months ended March 31, 2026, total operating expenses were $213,428 thousand, compared to $197,128 thousand in the same period of 2025. Specific expenses include Marketplace and service cost of revenue (excluding depreciation & amortization) at $79,820 thousand in 2026 versus $69,402 thousand in 2025, and Customer assurance cost of revenue (excluding depreciation & amortization) at $18,980 thousand in 2026 versus $13,977 thousand in 2025. Operations and technology expenses were $46,470 thousand in 2026 compared to $44,190 thousand in 2025, while selling, general, and administrative expenses were $56,238 thousand in 2026 versus $59,018 thousand in 2025. Depreciation and amortization stood at $11,920 thousand in 2026 compared to $10,541 thousand in 2025. The company reported a loss from operations of - $9,236 thousand in 2026, an improvement from - $14,431 thousand in 2025.

Cash Flow

Net cash provided by operating activities was $76,510 thousand for the three months ended March 31, 2026, an increase from $66,624 thousand in the prior year period. Net cash used in investing activities was - $14,798 thousand, compared to - $30,868 thousand for the same period in 2025. Net cash provided by financing activities was $7,910 thousand, down from $32,032 thousand in the first quarter of 2025.

Share Repurchase Program

ACV Auctions Inc.’s Board of Directors authorized a share repurchase program of up to $100 million. The company plans to execute an accelerated share repurchase program to buy back $50 million of its common stock under this authorization.

Outlook / Guidance

ACV Auctions Inc. reaffirmed its 2026 revenue and Adjusted EBITDA guidance, despite challenging market conditions. For the second quarter of 2026, total revenue is projected to be between $213 million and $217 million, with Adjusted EBITDA expected to range from $18 million to $20 million. The full-year 2026 outlook anticipates total revenue of $845 million to $855 million and Adjusted EBITDA between $73 million and $77 million.