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May 13 , 2021 ACV ACV Announces First Quarter 2021 Results Initiates Second Quarter and Full Year 2021 Guidance • First quarter total revenue of $ 69.1 million , up 64 % year over year • GAAP net loss of $ 17.4 million , compared to GAAP net loss of $ 27.5 million in first quarter 2020 • Adjusted EBITDA loss of $ 12.4 million , compared to Adjusted EBITDA loss of $ 24.4 million in first quarter 2020 • Initiates full year 2021 revenue guidance of $ 307 to $ 313 million ; year - over - year growth of 47 % to 50 % BUFFALO , N.Y. , May 13 , 2021 ( GLOBE NEWSWIRE ) -- ACV Auctions Inc. ( Nasdaq : ACVA ) , the leading online automotive marketplace for dealers , today reported results for its first quarter ended March 31 , 2021 . " 2021 is off to a great start with growth driven by our highly trusted , digitally native platform that is transforming the wholesale automotive market . ACV's full suite of data powered solutions creates a marketplace experience that is transparent and efficient , which is reflected in our strong performance in the first quarter , " said George Chamoun , CEO of ACV . " We are excited about the multiple growth drivers we see for our business and the large and growing market opportunity ahead of us . To capitalize on this opportunity we are ramping investment to grow our team , broaden our reach , and drive innovation , which we believe will only further strengthen our market position , " concluded Chamoun . First Quarter 2021 Highlights • Completed its initial public offering and began trading on Nasdaq on March 24 , 2021 . Net proceeds from the IPO were approximately $ 385.0 million , after underwriting discounts and commissions and estimated offering costs . • Revenue of $ 69.1 million , an increase of 64 % year over year . • Marketplace and Service revenue of $ 58.4 million , an increase of 69 % year over year . • Auction Marketplace revenue of $ 34.3 million , an increase of 92 % year over year . • Marketplace GMV of $ 1.3 billion , an increase of approximately 107 % year over year . • Marketplace Units of 128,386 , an increase of 55 % year over year . • Adjusted EBITDA loss of $ 12.4 million , compared to Adjusted EBITDA loss of $ 24.4