ACV Auctions Inc. (NASDAQ:ACVA) Q2 2022 Earnings Conference Call August 10, 2022 5:00 PM ET
Company Participants
Tim Fox - Vice President of Investor Relations
George Chamoun - Chief Executive Officer
Bill Zerella - Chief Financial Officer
Conference Call Participants
John Colantuoni - Jefferies
Ali Faghri - Guggenheim Partners
Ron Josey - Citi
Eric Sheridan - Goldman Sachs
Chris Pierce - Needham & Company
Bob Labick - CJS Securities
Rajat Gupta - JPMorgan
Operator
Good afternoon, ladies and gentlemen, and thank you for standing by. And welcome to the ACV Second Quarter Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the call will be open for questions. I would now like to turn the call over to Tim Fox, ACV's Vice President of Investor Relations. Please, go ahead
Tim Fox
Thank you, operator. Good afternoon, and thank you for joining ACV's conference call to discuss our second quarter 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, 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 very pleased with our second quarter performance, with revenue and EBITDA, both exceeding guidance. The ACV team once again delivered strong results in a challenging macro environment for our dealer partners.
With that, let me turn to second quarter highlights on slide four. Our market momentum continued in the second quarter, with record revenue of $115 million, year-over-year growth of 18% versus very strong results in Q2 2021. GMV of $2.7 billion also set a new record and increased 27% year-over-year.
We sold 148,000 vehicles on our digital marketplace, a 6% sequential increase from Q1 and a modest decline versus record unit performance in Q2 2021. Overall, we are very pleased with our execution in Q2 and our progress on key strategic initiatives.