Public deck

ACV Auctions: record revenue, real losses, and a buyback in a tougher used-car market

ACV just paired record Q1 revenue and improving adjusted EBITDA with GAAP losses, $200 million of debt, big receivable balances, and a $50 million accelerated repurchase. The tension is not whether the marketplace is real; it is whether the economics can become clean while wholesale auto conditions get harder.