XML 30 R19.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
2025202420252024
Revenue$199,561 $171,329 $575,961 $477,642 
Less:
Marketplace and service cost of revenue (excluding depreciation & amortization)70,859 67,064 214,580 187,010 
Customer assurance cost of revenue (excluding depreciation & amortization)22,098 14,176 52,984 41,548 
Marketplace operations31,640 28,094 91,405 78,163 
Technology and development14,886 14,445 45,112 42,139 
Sales and marketing24,614 24,209 78,583 71,553 
General and administrative48,212 30,764 106,233 89,185 
Depreciation and amortization10,969 9,716 32,407 26,351 
Total operating expenses223,278 188,468 621,304 535,949 
Loss from operations(23,717)(17,139)(45,343)(58,307)
Interest income2,218 2,050 6,259 7,410 
Interest expense(2,483)(1,077)(6,679)(2,218)
Provision for (benefit from) income taxes
483 (137)817 448 
Segment net loss
$(24,465)$(16,029)$(46,580)$(53,563)

For the three and nine months ended September 30, 2025 and 2024, revenue outside of the United States, based on the billing address of the customer, was not material. As of September 30, 2025 and December 31, 2024, long-lived assets located outside of the United States were not material.