v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s Chief Executive Officer is the chief operating decision maker (“CODM”) and is responsible for reviewing financial information presented on a segment basis for purposes of making operating decisions and assessing financial performance. The CEO reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating the Company’s financial performance. Accordingly, the Company has determined that it operates in a single reporting segment (the “ACV segment”).
The ACV segment provides the marketplace to facilitate business-to-business used vehicle sales between a seller and a buyer. Customers using the marketplace are licensed automotive dealerships or other commercial automotive enterprises. At the election of the customer purchasing a vehicle, the Company can arrange third-party transportation services for the delivery of the purchased vehicle through its wholly owned subsidiary, ACV Transportation LLC. The Company can also provide the customer with financing for the purchased vehicle through its wholly owned subsidiary, ACV Capital LLC. ACV also provides data services that offer insights into the condition and value of used vehicles for transactions both on and off the Company's Marketplace. The ACV segment provides a wholesale auction marketplace to dealers and derives its revenues primarily from North America. The CODM assesses performance for the ACV segment and decides how to allocate resources based on net income (loss) that also is reported on the consolidated statement of operations as consolidated net income (loss). The CODM uses net income (loss) in budget versus actual analysis to measure performance and as a key input to make resource investment and management compensation decisions.
The following is the information used by the CODM in assessing segment performance:
Three Months ended June 30,Six Months ended June 30,
2026202520262025
Revenue$213,941 $193,703 $418,133 $376,400 
Less:
Marketplace and service cost of revenue (excluding depreciation & amortization)85,504 74,319 165,324 143,721 
Customer assurance cost of revenue (excluding depreciation & amortization)21,722 16,909 40,702 30,886 
Marketplace operations30,322 30,153 60,945 59,765 
Technology and development16,622 15,648 32,469 30,226 
Sales and marketing24,656 26,232 50,558 53,969 
General and administrative29,125 26,740 59,461 58,021 
Depreciation and amortization12,036 10,897 23,956 21,438 
Total operating expenses219,987 200,898 433,415 398,026 
Loss from operations(6,046)(7,195)(15,282)(21,626)
Interest income1,591 2,152 3,285 4,041 
Interest expense(3,221)(2,286)(6,041)(4,196)
Provision for (benefit from) income taxes551 (31)1,081 334 
Segment net loss
$(8,227)$(7,298)$(19,119)$(22,115)

For the three and six months ended June 30, 2026 and 2025, revenue outside of the United States, based on the billing address of the customer, was not material. As of June 30, 2026 and December 31, 2025, long-lived assets located outside of the United States were not material.