ACV Auctions Reports 10.4% Revenue Growth to $213.9 Million in Q2 2026

ACV Auctions Inc. reported its financial results for the second quarter of 2026, revealing a total revenue of $213.9 million, a 10.4% increase from $193.7 million in the same period last year. The growth was primarily driven by an increase in marketplace and service revenue, which rose to $189.2 million from $176.0 million, and customer assurance revenue, which increased to $24.7 million from $17.7 million. Despite the revenue growth, the company recorded a net loss of $8.2 million, compared to a loss of $7.3 million in the prior year, reflecting ongoing investments in growth and operational costs.

In the first half of 2026, ACV Auctions generated total revenue of $418.1 million, up from $376.4 million in the first half of 2025, marking a 11.1% increase. The company’s marketplace and service revenue accounted for 89% of total revenue, while customer assurance revenue made up 11%. The increase in revenue was attributed to higher auction marketplace revenue and a significant rise in other marketplace revenue, which includes transportation and financing services. The number of vehicles transacted, or Marketplace Units, also saw a slight increase, reaching 211,472 in the second quarter, up from 210,429 in the same quarter of the previous year.

Operationally, ACV Auctions has been focusing on expanding its marketplace platform and enhancing customer engagement. The company reported a total of 424,964 Marketplace Units sold in the first half of 2026, compared to 418,454 in the same period last year. The increase in customer engagement is indicative of the ongoing transition within the wholesale automotive industry towards digital transactions. The company has also been investing in technology and infrastructure to support future growth, which has led to an increase in operating expenses, totaling $220.0 million for the second quarter, up from $200.9 million in the prior year.

In terms of strategic developments, ACV Auctions has initiated a share repurchase program, authorizing up to $100 million in buybacks. The company executed an accelerated share repurchase agreement in May 2026, purchasing $50 million worth of its common stock. As of June 30, 2026, the company had cash and cash equivalents of $242.3 million, which it believes will be sufficient to support its working capital and capital expenditure requirements for at least the next 12 months.

Looking ahead, ACV Auctions anticipates continued growth in its marketplace and service revenue, driven by an increase in Marketplace Units and customer engagement. However, the company acknowledges potential challenges, including macroeconomic conditions and competition in the digital auction space. The management remains focused on expanding its customer base and enhancing its service offerings to capture a larger share of the wholesale automotive market.