Arcadia Auctions

Concentration: Cardinal is 7% of ARR. Founder dependency: the CFO asked directly what happens to dealer retention if the founder leaves at month 24. And an internal build, however slow, gives Bell a reason to wait.

Arcadia's FY27 plan, presented at their investor day, targets a 30% increase in consumer-sourced units. They cannot hit it on the current tooling. Vantage's IOI gives them a reason to move before someone else does.

Enterprise dealer group logos (the Meridian and Cardinal deployments), a signed contractor IP audit, and twelve months of NRR above 115%. Two of the three are done.

Arcadia's consumer-sourcing product has the capture flow but not the qualification model, and their conversion rate is the constraint on auction volume growth. We close that gap immediately, with 604 live dealers and a model their product team has benchmarked as ahead of their own.