Commenting on the results, Eric J. Guerin, Chief Financial Officer, said, “We capped off the year with strong financial performance and a notable reduction in leverage, a testament to the Company’s sound strategy and execution.”
Fourth Quarter Financial Highlights123:
- GTV increased 160% year-over-year to $4.0 billion, which includes $2.2 billion from the impact of the acquisition of IAA, Inc. (“IAA”).
- Total revenue increased 134% year-over-year to $1.0 billion, which includes $559.2 million from the impact of the acquisition of IAA.
- Service revenue increased 197% year-over-year to $809.1 million, which includes $488.0 million from the impact of the acquisition of IAA.
- Inventory sales revenue increased 35% year-over-year to $231.8 million, which includes $71.2 million from the impact of the acquisition of IAA.
- Net income available to common stockholders increased 65% year-over-year to $74.8 million.
- Diluted earnings per share available to common stockholders increased 2% to $0.41 per share.
- Diluted adjusted earnings per share available to common stockholders increased 21% year-over-year to $0.82 per share.
- Adjusted EBITDA increased 153% year-over-year to $307.5 million.
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