ACV Auctions Inc. (NYSE:ACVA) saw its stock plummet 16.33 percent on Tuesday after revising its 2025 revenue outlook. The company now expects revenues of $765 million to $775 million, reflecting a year-on-year growth of 20 to 22 percent. This update comes as the dealer wholesale market is anticipated to remain flat or decline slightly.

In the second quarter, ACV Auctions reported a 57 percent decrease in net loss to $7.3 million and a 20.6 percent increase in total revenues to $193.7 million compared to the same period last year. However, the first half of the year saw a 41 percent decrease in net loss to $22 million and a 22.87 percent drop in revenues to $376 million.

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Read more at Yahoo Finance: ACV Auctions (ACVA) Nosedives on Lower 2025 Revenue Outlook