Filing Flows › ACV Auctions (ACVA) › Q4 2025
ACV Auctions (ACVA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
ACV Auctions (ACVA) reported revenue of $184M for the fourth quarter 2025 (Q4 2025), +15% from a year earlier and -8% from the quarter before. Operating margin was -9.7%, net loss $19.6M (10.7% of revenue).
ACV Auctions, Q4 2025: revenue $184M (+15% year over year), operating margin -9.7%, net loss $19.6M, operating cash flow −$12.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $184M | -8% | +15% |
| Operating profit | −$17.8M | — | — |
| Net earnings | −$19.6M | — | — |
| Operating cash flow | −$12.4M | -221% | — |
What changed
Revenue was $183.6M in Q4 2025, up 15% year over year and down 8% from the previous quarter. Auction marketplace revenue was the largest line at 42% of revenue.
Operating costs exceeded revenue by $17.8M, an operating margin of -9.7%. Total costs grew 9% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+18%). The quarter ended with a net loss of $19.6M, narrower than the previous quarter's $24.5M loss.
Operating cash flow was −$12.4M. Non-cash charges added back $11.3M of depreciation and amortization and $13.5M of share-based compensation. Working capital and other items used $17.6M. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$14.7M.
Questions
What was ACV Auctions' revenue in the fourth quarter 2025?
ACV Auctions (ACVA) reported revenue of $184M for the fourth quarter 2025 (Q4 2025), +15% from a year earlier and -8% from the quarter before.
Was ACV Auctions profitable in the fourth quarter 2025?
Operating loss was $17.8M (-9.7% of revenue) and net loss $19.6M.
Source: ACV Auctions 10-K on SEC EDGAR.