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ACV ACV Announces Third Quarter 2021 Results November 10 , 2021 Increases Full Year 2021 Guidance • Third quarter total revenue of $ 91.8 million , up 36 % YoY • GAAP net loss of $ 24.8 million , compared to GAAP net income of $ 3.2 million in third quarter 2020 • Adjusted EBITDA loss of $ 12.4 million , compared to Adjusted EBITDA of $ 3.3 million in third quarter 2020 • Raises 2021 revenue guidance to a range of $ 341 to $ 344 million ; YoY growth of 64 % to 65 % BUFFALO , N.Y. , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) results for its third quarter ended September 30 , 2021 . " We were very pleased with our solid results in the third quarter , which once again exceeded expectations , despite ongoing supply challenges impacting the automotive industry . Our growth is driven by continued market share gains , strong adoption of ACV's value - added services , and early traction of new products and services launched this year , " said George Chamoun , CEO of ACV . -- ACV ( Nasdaq : ACVA ) , the leading online automotive marketplace for dealers , today reported " Our goal of achieving nationwide coverage on ACV's marketplace is tracking to plan , and along with investments in new platform features and offerings , we are well positioned to drive sustainable long - term growth within the large market opportunity ahead of us , " concluded Chamoun . Third Quarter 2021 Highlights • Revenue of $ 91.8 million , an increase of 36 % year over year . • Marketplace and Service revenue of $ 79.3 million , an increase of 41 % year over year . • Auction Marketplace revenue of $ 40.0 million , an increase of 22 % year over year . • Marketplace GMV of $ 2.0 billion , an increase of approximately 79 % year over year . • Marketplace Units of 140,734 , an increase of 19 % year over year . • Adjusted EBITDA loss of $ 12.4 million , compared to Adjusted EBITDA of $ 3.3 million in third quarter 2020 . Fourth Quarter and Full Year 2021 Guidance Based on information as of today , ACV is providing the following guidance : • Fourth quarter of 2021 : o Total revenue of $ 83 to $ 86 million , an increase of 54 % to 60 % year over year o Adjusted EBITDA loss of $ 22 to $ 26 million • Full year 2021 : o Total revenue of $ 341 to $ 344 million , an increase of 64 % to 65 % year over year , and $ 8 million above the midpoint of previous guidance • Adjusted EBITDA loss of $ 51 to $ 54 million Our financial guidance includes the following assumptions : • Strong used - vehicle demand is expected to continue through the balance of 2021 , creating a positive backdrop for vehicle values in the market . However , automotive supply chain challenges will likely continue to constrain new vehicle sales , and associated trade - in volumes , which in turn may pressure wholesale vehicle supplies in the near term . • Total operating expenses , excluding cost of revenue , are expected to grow approximately 57 % year over year in 2021 . Reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward - looking basis due to the high variability , complexity and low visibility with respect to the charges excluded from this non - GAAP measure ; in particular , the effects of stock - based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price . We expect the variability of the above charges to have a significant , and potentially unpredictable , impact on our future GAAP financial