Record Revenue and Growth
Q1 revenue was $183 million, representing a 25% year-over-year growth. The company sold 208,000 vehicles, marking a 19% increase year-over-year.
Strong Performance in Transport and Capital
ACV Transport and ACV Capital delivered record performance with over 30% revenue growth in Q1. Revenue margin for ACV Transport expanded 460 basis points year-over-year.
Innovation and AI Integration
Significant advancements in AI integration across products and services, including AI-enabled pricing guidance and self-inspection tools, positioning the company for future growth.
Improved EBITDA and Cash Flow
Adjusted EBITDA of $14 million exceeded the high end of guidance, with a 500 basis points improvement in margin year-over-year. Operating cash flow in Q1 equaled the entire operating cash flow of the previous year.