ACV Auctions sees FY24 revenue $610M-$625M, consensus

Sees FY24 adjusted EBITDA $20M-$25M. “Dealer wholesale volumes remain below historical levels due to lower-than-normal new and used vehicle inventory, which is causing dealers to keep more trades for retail. We expect market headwinds will ease resulting in modest growth in dealer wholesale volumes in the back-half of 2024. We believe ACV remains well positioned to deliver sustainable growth as end-markets further recover, and we execute on our emerging commercial wholesale strategy, while also continuing to scale our business model,” concluded Chamoun.