ACV Auctions Inc. (NASDAQ:ACVA) saw its stock plummet 5.06% in Friday's trading session, continuing a downward trend that began earlier in the week following the company's full-year 2024 earnings report.
On Thursday, ACVA's shares had already fallen nearly 10% after the company reported a widening net loss of $26.1 million for the quarter, despite revenue growth of 35% year-over-year. For the full year, net loss increased by 5.9% to $79.7 million, even as revenues rose 32% to $637 million.
Furthermore, ACVA missed analyst expectations for earnings per share (EPS) in the full-year results, despite meeting revenue forecasts. The company's EPS of $0.48 loss per share represented a further deterioration from the $0.47 loss per share in the previous year, disappointing investors.
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