ACV Auctions, Inc. (NASDAQ:ACVA) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET

Company Participants

Timothy Fox - VP, IR

George Chamoun - CEO & Director

William Zerella - CFO

Conference Call Participants

Christopher Pierce - Needham & Company

Robert Labick - CJS Securities

Michael Graham - Canaccord Genuity

Vincent Kardos - Jefferies

Nicholas Jones - JMP Securities

Gary Prestopino - Barrington Research Associates

Daniel Imbro - Stephens Inc.

Ronald Josey - Citigroup

Rajat Gupta - JPMorgan Chase & Co.

Operator

Good day, and thank you for standing by. Welcome to the ACVA Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Tim Fox, Vice President of Investor Relations.

Timothy Fox

Thank you, Operator. Good afternoon, and thank you for joining ACV's conference call to discuss our fourth quarter and full year 2022 financial results. With me on the call today are George Chamoun, Chief Executive Officer; and Bill Zerella, Chief Financial Officer.

Before we get started, please note that today's comments include forward-looking statements, including statements regarding future financial guidance. These forward-looking statements are subject to risks and uncertainties and involve factors that could cause actual results to differ materially from those expressed or implied by such statements. A discussion of the risks and uncertainties related to our business can be found in our SEC filings and in today's press release, both of which can be found on our Investor Relations website.

During this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in today's earnings materials, which can also be found on our Investor Relations website. And with that, let me turn the call over to George.

George Chamoun

Thanks, Tim. Good afternoon, everyone, and thank you for joining us. We are pleased with our fourth quarter performance, which capped off a year that required strong execution from the ACV team during a challenging market environment. And execute we did. ACV delivered 18% revenue growth, and gained share in a market that declined an estimated 20%. We expanded our marketplace, exiting the year with over 24,000 dealer partners. Our VCI team reached an exciting milestone, performing over 1 million inspections in 2022. Our technology team launched a broad range of new solutions to drive growth and scale across our operations. And we achieved all this while expanding margins and exceeding our EBITDA guidance.