Slide 1: Q3-25 Earnings Presentation
HIGHLIGHTS Q3-25 EARNINGS PRESENTATION NOVEMBER 5, 2025 © 2025 ACV Auctions, Inc.
Slide 2: Forward Looking Statements
HIGHLIGHTS FORWARD LOOKING Statements in this presentation regarding future performance and future expectations, beliefs, goals, plans or prospects include forward looking statements for purposes of federal and state securities laws, including statements regarding ACV’s avenues for long STATEMENTS t
Slide 3: Highlights
HIGHLIGHTS HIGHLIGHTS George Chamoun CHIEF EXECUTIVE OFFICER
Slide 4: Q3 Revenue, Marketplace Units and Adjusted EBITDA
HIGHLIGHTS Q3-24 Q3-25 $171M Revenue $200M YoY Revenue 44% Growth 16% Marketplace 198K Units 218K Adjusted $11M EBITDA $19M 4
Slide 5: Maximizing Long-Term Shareholder Value
HIGHLIGHTS MAXIMIZING LONG-TERM SHAREHOLDER VALUE GROWTH I N N O V AT I O N SCALE Transforming the automotive market Leveraging technology to extend Proven business model delivering with the leading digitally native, ACV’s competitive moat and to growth at scale, with attractive data-driven platform
Slide 6: Growth
HIGHLIGHTS GROWTH GROWTH
Slide 7: Driving Growth
GROWTH Driving Growth Record Buyers and Sellers Franchise Penetration Milestone Major Account Momentum 7
Slide 8: ClearCar
Yn ClearCar Get your price in 60 Seconds Share a few details about your vehicle and get a price right away. PLATE MAKE & MODEL JF2SJABCXHH428594 MY PRICE Powered by ClearCar A 2023 TOYOTA CAMRY SEDAN rtd x5 FO CVT (4H) 2.5 incr Eran Automate) © Tee © Purchase TRE 2. Vere Pobre ACV MAX Retail $31,600
Slide 9: Record revenue with ~125,000 transports
GROWTH Record revenue with ~125,000 transports 95% lane coverage with AI-optimized pricing Strong revenue margin with 200 bps of expansion YoY Off-Platform transportation services gaining further traction 9
Slide 10: Accelerating revenue growth 70% YoY
GROWTH Accelerating revenue growth 70% YoY Expanding TAM Managing risk 10
Slide 11: Innovation
GROWTH GROWTH INNOVATION
Slide 12: Data Pipeline Processing and Analysis
INNOVATION DATA PIPELINE PROCESSING AND ANALYSIS Consistent Data Capture Real-time valuation and pricing ACV NEXT GEN ACV CORE IP Product Expansion Guidance on every vehicle 12
Slide 13: AI-driven condition capture
INNOVATION AI-driven condition capture Real-time valuation and pricing Guidance on every vehicle 13
Slide 14: Commercial Enablement
INNOVATION Commercial Enablement Integrations Commercial Inspections • AutoIMS • Commercial Insp. Template • Consignor Direct • Damage Detection • Other 3rd Party Data & Decisions Platform • Pricing Guidance • Marketplace • Recon Estimates • Workflow Tool • Recon Facilities 14
Slide 15: Bill Zerella, Chief Financial Officer
SCALE Bill Zerella CHIEF FINANCIAL OFFICER
Slide 16: Solid Q3-25 Performance
SCALE Solid Q3-25 Performance REVENUE ($M) % YOY GROWTH ADJ. EBITDA ($M)(1) ADJ. EBITDA MARGIN NON-GAAP NET INCOME ($M) (1) NON-GAAP NET INCOME MARGIN $775M 44% 16% 7% 9% 4% 6% 5% $198 - $203 $18 - $20 $200 $10 - $12 $19 37% $11 $171 8% $8 6% $11 36% 37% 34% 58% 56% 56% Q3-24 Q3-25 Q3-25 Q3-24 Q3-25
Slide 17: Diversified Revenue Streams
SCALE Diversified Revenue Streams $200M ‘24-’25 YoY Revenue Breakdown ($M) 4% $171M SAAS & DATA SERVICES 2% YOY SAAS PRODUCTS 5% DATA-ENABLED SOLUTIONS 40% $119M 37% 28% YOY 7% MARKETPLACE SERVICES TRANSPORTATION CAPITAL 38% 56% 59% 10% AUCTION & ASSURANCE YOY AUCTION FEES 55% GO GREEN ASSURANCE Q3-
Slide 18: Delivering Margin Improvement and Managing OpEx
SCALE Delivering Margin Improvement and Managing OpEx NON-GAAP COST OF REVENUE NON-GAAP OPERATING EXPENSE (EX. COR) % OF REVENUE (1) % OF REVENUE 49% 47% 48% 46% Q3-24 Q3-25 Q3-24 Q3-25 (1) Q3-25 non-GAAP cost of revenue includes a $7.6M credit related to a class action lawsuit settlement against a
Slide 19: Balancing Growth and Investments
SCALE Balancing Growth and Investments ADJ. EBITDA MARGIN ADJ. EBITDA ($M) NON-GAAP OPERATING EXPENSE (EX. COR) ($M) % YOY GROWTH ($56) ($18) $28 $57 22% 8% 22% 12% $367 8% $327 4% $268 $248 (4%) (13%) 2022 2023 2024 2025G 2022 2023 2024 2025G Note: 2025 refers to the midpoint of guidance Refer to t
Slide 20: Strong Capital Position and Cash Flow
SCALE Strong Capital Position and Cash Flow ($M) As of September 30, 2025 OPERATING CASH FLOW ($M) Cash, Cash Equivalents and $316 Marketable Securities (Includes ~$200 of Marketplace float) 32% Growth YoY ACV Capital Receivables $199 $91 $69 Long Term Debt $220 Total Assets $1,166 Total Liabilities
Slide 21: Guidance
SCALE Guidance Q4-25 2025 Dealer wholesale market expected to (dollars in millions) decline in the mid-single digits YoY in Q4, a higher decline than previously expected Revenue $180 to $184 $756 to $760 YoY Growth 13% to 15% ~19% Conversion rates expected to be below GAAP Net Income (Loss) ($23) to
Slide 22: Wrap Up
HIGHLIGHTS Executing on Growth Strategy and Gaining Share Delivering on Product Roadmap and Broadening Competitive Moat Wrap Up Expanding Addressable Market Driving Profitable Growth Through Scalable Business Model Building World Class Team with People-First Culture 22
Slide 23: Highlights
HIGHLIGHTS © 2025 ACV Auctions, Inc.
Slide 24: Appendix
HIGHLIGHTS APPENDIX
Slide 25: GAAP Net Income to Non-GAAP Net Income to Adjusted EBITDA Reconciliations
HIGHLIGHTS GAAP Net Income (Loss) to Non-GAAP Net Income (Loss) to Adjusted EBITDA Reconciliations Note: Tricolor operating expenses are related to the bankruptcy of an ACV Capital customer which we do not consider to be representative of our ongoing operating performance.
Slide 26: GAAP to Non-GAAP Operating Cost Reconciliation
HIGHLIGHTS GAAP to Non-GAAP Operating Cost Reconciliation
Slide 27: GAAP to Non-GAAP Net Income Guidance Reconciliation
HIGHLIGHTS GAAP to Non-GAAP Net Income Guidance Reconciliation
Slide 28: Information About Non-GAAP Financial Measures
HIGHLIGHTS ACV provides supplemental non-GAAP financial measures to its financial results. We use these non-GAAP financial measures, and we believe that they assist our investors to make period-to-period comparisons of our operating performance because they provide a INFORMATION ABOUT view of our op
Slide 29: Information About Non-GAAP Financial Measures
Non-GAAP net income (loss), and non-GAAP operating expenses, are financial measures that are not presented in accordance with HIGHLIGHTS GAAP, provide investors with additional useful information to measure operating performance and current and future liquidity when taken together with our financial
Slide 30: Key Operating and Financial Metrics
HIGHLIGHTS KEY OPERATING AND We regularly monitor the following operating and financial metrics in order to measure our current performance and estimate our future performance. Our key operating and financial metrics may be calculated in a manner different than FINANCIAL METRICS similar business met
Slide 31: Forward Looking Statements
HIGHLIGHTS This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning our financial guidance for the fi