Second Quarter and Full-Year 2024 Guidance
Based on information as of today, ACV is providing the following guidance:
- Second Quarter of 2024:
- Total revenue of $154 to $158 million, an increase of 24% to 27% year over year
- GAAP net income (loss) of ($19) to ($17) million
- Non-GAAP net income of $2 to $4 million
- Adjusted EBITDA of $6 to $8 million
- Full-Year 2024:
- Total revenue of $610 to $625 million, an increase of 27% to 30% year over year
- GAAP net income (loss) of ($85) to ($80) million
- Non-GAAP net income of $3 to $8 million
- Adjusted EBITDA of $20 to $25 million
Our financial guidance includes the following assumptions:
- Dealer wholesale volumes are expected to improve modestly in the back-half of 2024, primarily due to increasing new vehicle supply and retail sales.
- Conversion rates and wholesale price depreciation expected to follow normal seasonal patterns.
- Revenue growth is expected to outpace Non-GAAP Operating Expense growth (excluding Cost of Revenue and Depreciation and Amortization) by approximately 10 percentage points.
- Second quarter non-GAAP net income guidance excludes approximately $18 million of stock-based compensation expense and approximately $3 million of intangible amortization.
- Full-year non-GAAP net income guidance excludes approximately $70 million of stock-based compensation expense and $10 million of intangible amortization.
