ACV Reports Second-Quarter 2026 Results as Revenue Reaches Record Level and Adjusted EBITDA Tops Guidance
ACV, a digital automotive marketplace and data services provider serving automobile dealers and commercial clients, reported its financial results for the second quarter of 2026, highlighting continued revenue growth, improved profitability and expanding adoption of its technology-driven marketplace services.
The company, which trades on the New York Stock Exchange under the ticker symbol ACVA, generated $214 million in total revenue for the quarter ended June 30, 2026. Revenue increased 10% compared with the same period a year earlier, marking another record revenue quarter for the company.
ACV’s second-quarter performance came despite continued challenges in the dealer wholesale automotive market. The company said market share gains within dealer wholesale, combined with increasing adoption of its Marketplace Services and AI-powered dealer solutions, supported its financial performance.
Adjusted EBITDA reached $21 million during the quarter, up from $19 million in the second quarter of 2025. The result was also above the high end of the company’s previously issued guidance, demonstrating ACV’s ability to continue generating profitable growth while investing in its technology, sales organization and new business opportunities.
Revenue Growth Continues in the Second Quarter
ACV generated total revenue of $214 million in the second quarter of 2026, representing a 10% year-over-year increase. The result reflects continued expansion across the company’s digital automotive marketplace and related service offerings.
Marketplace and Service Revenue accounted for $189 million of total revenue, increasing 8% compared with the second quarter of 2025.
The company’s marketplace activity remained relatively stable during the quarter. Marketplace Gross Merchandise Value, or GMV, reached approximately $2.7 billion, which was broadly flat compared with the prior-year period. Marketplace units totaled 211,472, also approximately flat year over year.
The combination of relatively stable marketplace volume and higher revenue suggests that ACV continued to benefit from its broader services ecosystem and efforts to increase the value generated from customers using its platform.
ACV operates in an automotive wholesale environment where dealers and commercial sellers increasingly rely on digital platforms to remarket used vehicles, obtain vehicle information and complete wholesale transactions more efficiently. The company’s marketplace and data services are designed to support those activities while helping customers improve the speed and transparency of wholesale vehicle transactions.
Market Share Gains Support Performance
ACV Chief Executive Officer George Chamoun said the company delivered solid financial results during the quarter, including another record revenue performance and Adjusted EBITDA above the upper end of its guidance.
According to Chamoun, market share gains in dealer wholesale were an important contributor to the quarter’s performance. At the same time, the company saw strong adoption of its Marketplace Services, providing another source of growth beyond traditional marketplace transaction volume.
The dealer wholesale market has faced ongoing pressure, making the company’s ability to grow market share particularly important. Rather than relying solely on an expansion in overall industry volumes, ACV is focused on capturing a larger share of transactions from dealers and commercial customers.
This strategy is increasingly supported by technology, including AI-powered tools designed to improve dealer operations and enhance the customer experience.
AI-Powered Dealer Solutions Gain Traction
One of the areas receiving increased attention from ACV is its artificial intelligence-based technology portfolio.
Chamoun highlighted continued expansion of VIPER, ACV’s AI-powered dealer solution, among its dealer partners. The company believes VIPER could become an important driver of increased customer wallet share and unit growth as adoption expands.
AI is becoming an increasingly important part of automotive retail and wholesale operations. Dealers are looking for tools that can help them make faster decisions, evaluate inventory and improve operational efficiency. ACV’s strategy is to integrate these capabilities into its existing relationships with dealers, potentially allowing the company to expand the range of services it provides to customers.
The continued expansion of VIPER therefore represents more than a technology initiative. ACV views the platform as an opportunity to deepen relationships with existing customers while creating additional revenue opportunities.
By increasing the number of services used by each customer, ACV can potentially grow its wallet share without relying entirely on the acquisition of new dealer accounts.
Commercial Wholesale Strategy Expands
Another important area of ACV’s growth strategy is commercial wholesale.
During the second quarter, the company said it engaged new commercial accounts while also increasing wallet share among existing customers. These customers include major captive finance companies, banks, fleet companies and automotive finance providers.
Commercial vehicle sellers can represent a significant opportunity for digital wholesale marketplaces because they frequently need to remarket large volumes of vehicles. Financial institutions, fleet operators and automotive finance providers may have substantial vehicle inventories that must eventually be sold through wholesale channels.
ACV is seeking to strengthen its position in this market by building relationships with these organizations and expanding its share of their wholesale activity.
The company believes its commercial wholesale strategy can help expand its total addressable market, or TAM, beyond its traditional dealer-focused opportunity.
Profitability Remains a Key Priority
ACV’s second-quarter results also demonstrate continued attention to profitability.
The company reported a GAAP net loss of $8 million for the quarter, compared with a GAAP net loss of $7 million during the second quarter of 2025.
On a non-GAAP basis, ACV generated net income of $10 million, compared with $12 million in the prior-year quarter.
Adjusted EBITDA was $21 million, increasing from $19 million in the second quarter of 2025.
The improvement in Adjusted EBITDA is notable because ACV continues to invest in its go-to-market organization and new growth initiatives. The company said it achieved its results while facing ongoing headwinds in the dealer wholesale market.
Chief Financial Officer Bill Zerella said the second-quarter results reinforce ACV’s focus on delivering profitable growth while continuing to invest in sales and marketing capabilities and future growth opportunities.
ACV Maintains Its 2026 Financial Outlook
Despite uncertainty surrounding the broader macroeconomic environment and continued challenges in the dealer wholesale market, ACV reaffirmed its financial outlook for the full year.
For the third quarter of 2026, ACV expects total revenue to range between $219 million and $225 million. At the midpoint, the forecast represents continued double-digit year-over-year growth.
The company expects third-quarter revenue to increase approximately 10% to 13% compared with the same period in 2025.
ACV expects a GAAP net loss of between $11 million and $7 million for the third quarter. On a non-GAAP basis, the company expects net income between $11 million and $15 million.
Adjusted EBITDA is expected to range between $21 million and $24 million.
For the full year, ACV is forecasting total revenue of between $845 million and $855 million. This represents expected year-over-year growth of approximately 11% to 13%.
The company expects its full-year GAAP net loss to range between $49 million and $44 million.
Full-year non-GAAP net income is expected to be between $32 million and $37 million, while Adjusted EBITDA is expected to range from $73 million to $77 million.
Dealer Wholesale Market Expected to Stabilize
ACV’s financial guidance is based partly on the expectation that the dealer wholesale market will stabilize during the second half of 2026.
Market conditions in wholesale vehicle transactions can be affected by vehicle supply, used-vehicle demand, dealer inventory levels, consumer demand and broader economic conditions. ACV’s outlook assumes that the market will become more stable in the second half of the year.
The company also expects conversion rates and wholesale vehicle price depreciation to follow normal seasonal patterns.
These assumptions are important because wholesale vehicle pricing and transaction activity can influence marketplace GMV and the number of vehicles processed through digital platforms.
ACV’s outlook does not assume a dramatic recovery in market conditions. Instead, the company appears to be planning around stabilization while continuing to pursue market share gains and expand its service offerings.
Controlled Operating Expense Growth
ACV also expects its non-GAAP operating expenses, excluding cost of revenue, to increase approximately 6% year over year.
The expected increase reflects continued investment in the business, including its go-to-market organization and new growth initiatives.
At the same time, ACV is targeting continued growth in revenue and Adjusted EBITDA. This suggests that the company is seeking to balance investment in future opportunities with greater operating efficiency.
For the third quarter, ACV’s non-GAAP net income guidance excludes approximately $18 million in stock-based compensation expense and approximately $3 million in intangible amortization.
For the full year, non-GAAP net income guidance excludes approximately $63 million of stock-based compensation expense and $10 million of intangible amortization.
Expanding the Total Addressable Market
A central part of ACV’s long-term strategy is expanding its total addressable market.
The company is pursuing this objective through several channels. These include gaining market share among traditional dealer customers, expanding Marketplace Services, increasing adoption of AI-powered solutions such as VIPER and developing relationships with large commercial vehicle sellers.
The commercial wholesale opportunity could be particularly significant because captive finance companies, banks, fleet operators and other automotive finance providers manage substantial vehicle portfolios.
By strengthening relationships with these organizations, ACV can potentially increase transaction volumes while diversifying its customer base.
The company’s technology platform also gives it an opportunity to build additional services around the core vehicle transaction. Rather than functioning only as an online marketplace, ACV is positioning itself as a broader data and technology partner for automotive businesses.
Technology Remains at the Center of ACV’s Strategy
Digital transformation continues to reshape the automotive wholesale industry. Traditional wholesale vehicle transactions have historically involved auctions, physical inspections, transportation logistics and other processes that can require significant time and coordination.
Digital marketplaces can simplify many of these activities by allowing buyers and sellers to interact through technology-enabled platforms.
ACV’s strategy combines its marketplace with data services and AI-powered solutions. The objective is to provide customers with greater visibility into vehicles, improve transaction efficiency and help dealers make better inventory decisions.
The company’s continued investment in AI reflects the broader shift toward intelligent automotive software. As dealers seek ways to improve margins and operate more efficiently, technology providers that can deliver actionable data and automation may have opportunities to capture a larger portion of dealer spending.
Outlook for the Remainder of 2026
Looking ahead, ACV enters the second half of 2026 with several growth initiatives underway.
The company expects the dealer wholesale market to stabilize, while continuing to pursue market share gains. It also intends to expand commercial wholesale relationships and increase adoption of its technology and Marketplace Services.
The expansion of VIPER and other AI-powered dealer solutions could provide an additional growth avenue, particularly if ACV can successfully increase wallet share among its existing dealer base.
At the same time, the company remains focused on maintaining profitability and controlling operating expenses.
Reaffirming its full-year revenue and Adjusted EBITDA guidance indicates that management remains confident in its ability to execute despite the uncertain macroeconomic environment.
Second-Quarter Conference Call
ACV scheduled a conference call and live webcast for August 10, 2026, at 5:00 p.m. Eastern Time to discuss its second-quarter financial results and business outlook.
Participants were invited to join the call approximately 10 minutes before the scheduled start time. International participants were provided with a separate dialing number.
The conference call provides investors and analysts with an opportunity to hear management discuss the company’s second-quarter performance, marketplace trends, commercial wholesale strategy, AI initiatives and expectations for the remainder of 2026.
ACV’s second-quarter 2026 results show a company continuing to grow despite challenging conditions in the dealer wholesale automotive market. Revenue reached a record $214 million, up 10% year over year, while Adjusted EBITDA increased to $21 million and exceeded the high end of the company’s guidance.
Although marketplace GMV and units were approximately flat, ACV continued to expand its business through market share gains, Marketplace Services and broader customer engagement.
The company’s emphasis on AI-powered dealer solutions, particularly the expansion of VIPER, represents an important part of its strategy to increase wallet share and generate additional unit growth. At the same time, its commercial wholesale initiative is opening opportunities with banks, captive finance companies, fleet operators and other automotive finance providers.
With full-year revenue guidance of $845 million to $855 million and Adjusted EBITDA guidance of $73 million to $77 million, ACV remains focused on balancing growth investments with financial discipline.
As the company moves into the second half of 2026, stabilization in the dealer wholesale market, continued market share gains, expansion of commercial accounts and growing adoption of AI-powered services will be key factors in determining whether ACV can sustain its growth trajectory and continue building a larger position within the digital automotive wholesale ecosystem.
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