ACV Auctions Inc. reported its financial results for the first quarter of 2025, showcasing a strong performance with revenue reaching $183 million. The company achieved a non-GAAP net income of $7 million, while the GAAP net income reflected a loss of $15 million. Adjusted EBITDA for the quarter was recorded at $14 million, exceeding the high-end of the company's guidance range. For the second quarter of 2025, ACV provides guidance of total revenue between $193 million and $198 million, marking a year-over-year increase of 20% to 23%. The projected GAAP net income (loss) ranges from ($13) million to ($11) million, with a non-GAAP net income anticipated between $11 million and $13 million. The expected Adjusted EBITDA is between $18 million and $20 million. For the full year of 2025, ACV anticipates total revenue within the range of $765 million to $785 million, representing a growth of 20% to 23% year-over-year. The company projects a GAAP net income (loss) of ($60) million to ($50) million, while non-GAAP net income is estimated between $33 million and $43 million. Adjusted EBITDA for the year is expected to be between $65 million and $75 million. ACV continues to strengthen its market position, with its suite of dealer solutions gaining further traction and contributing to additional share gains. Despite a modest growth in the dealer wholesale market and ongoing challenges due to the shortage of used vehicle inventory, ACV remains focused on scaling its business model and executing its commercial wholesale strategy.