ACV Auctions Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
ACVA$10.500.0%Stored close · as of Oct 15, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities | ||
| Net income (loss) | $(53,563) | $(52,020) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 26,451 | 12,407 |
| Stock-based compensation expense, net of amounts capitalized | 48,055 | 36,262 |
| Provision for bad debt | 8,161 | 8,530 |
| Other non-cash, net | 369 | (772) |
| Changes in operating assets and liabilities, net of effects from purchases of businesses: | ||
| Trade receivables | (16,803) | 10,990 |
| Other operating assets | (2,168) | (5,266) |
| Accounts payable | 55,684 | (2,543) |
| Other operating liabilities | 2,430 | 1,023 |
| Net cash provided by (used in) operating activities | 68,616 | 8,611 |
| Cash Flows from Investing Activities | ||
| Net increase in finance receivables | (12,536) | (30,991) |
| Proceeds from sale of real estate | 14,083 | — |
| Purchases of property and equipment | (3,834) | (1,518) |
| Capitalization of software costs | (22,438) | (19,319) |
| Purchases of marketable securities | (21,607) | (116,036) |
| Maturities and redemptions of marketable securities | 85,164 | 107,690 |
| Sales of marketable securities | 130,090 | 2,649 |
| Acquisition of businesses (net of cash acquired) | (156,608) | (28,649) |
| Net cash provided by (used in) investing activities | 12,314 | (86,174) |
| Cash Flows from Financing Activities | ||
| Proceeds from long term debt | 455,000 | 305,000 |
| Payments towards long term debt | (455,000) | (275,500) |
| Payment of debt issuance costs | (1,966) | — |
| Proceeds from exercise of stock options | 8,644 | 3,576 |
| Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders | (19,537) | (11,280) |
| Proceeds from employee stock purchase plan | 1,998 | 1,330 |
| Other financing activities | (66) | (74) |
| Net cash provided by (used in) financing activities | (10,927) | 23,052 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (50) | (5) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 69,953 | (54,516) |
| Cash, cash equivalents, and restricted cash, beginning of period | 182,571 | 280,752 |
| Cash, cash equivalents, and restricted cash, end of period | $252,524 | $226,236 |
| Supplemental disclosure of cash flow information | ||
| Non-cash investing and financing activities: | ||
| Stock-based compensation included in capitalized software development costs | $3,869 | $2,394 |
| Purchase of property and equipment and internal use software in accounts payable | $886 | $1,277 |
The accompanying notes are an integral part of these condensed consolidated financial statements
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