Carvana Earnings Reports

Carvana posted a strong Q3 2025 with 44% retail unit growth and 55% revenue growth year-over-year, while maintaining profitability with a 4.7% net income margin and delivering $637 million in adjusted EBITDA.

Carvana delivered record revenue, net income, and Adjusted EBITDA in Q2 2025, driven by 41% YoY growth in retail unit sales. Profitability metrics reached all-time highs as the company continues to scale efficiently.

Carvana delivered a strong Q1 2025 with record-breaking revenue, net income, and adjusted EBITDA, supported by significant growth in retail vehicle sales and improved margins.

Carvana achieved record revenue of $3.55 billion in Q4 2024, reflecting a 46% year-over-year increase. Net income reached $159 million, and adjusted EBITDA stood at $359 million. The company reported a net income margin of 4.5% and an adjusted EBITDA margin of 10.1%. Retail unit sales surged by 50% year-over-year, solidifying Carvana’s strong market position.

Carvana reported a strong Q3 2024 with significant year-over-year growth. The company achieved record profitability, driven by its unique business model and focus on customer experience. Revenue increased by 32% to $3.655 billion, and the company reported a net income of $148 million.

Carvana's Q2 2024 was a landmark quarter, marked by substantial unit growth and record profitability. The company achieved industry-leading Adjusted EBITDA margins and generated $48 million in net income and $355 million in Adjusted EBITDA. Carvana sold over 100,000 cars, solidifying its position as the second-largest used automotive retailer with 1% market share.

Carvana's Q1 2024 results reflect significant progress in profitability and growth, with record Adjusted EBITDA margin and a return to year-over-year growth in retail units sold. The company achieved net income of $49 million and an Adjusted EBITDA of $235 million, demonstrating the power of its business model.

Carvana's Q4 2023 results showed a decrease in retail units sold and revenue compared to Q4 2022, but a significant increase in total gross profit and total GPU. The company achieved record fourth quarter Total GPU and record fourth quarter Adjusted EBITDA, highlighting continued progress on its three-step plan for driving positive free cash flow.

Carvana reported a decrease in revenue by 18% to $2.773 billion, but achieved a net income of $741 million due to a gain on debt extinguishment. The company also saw an increase in total gross profit by 34% to $482 million and made substantial improvements in total gross profit per unit.

Carvana's Q2 2023 results show a significant step forward on its path to driving positive free cash flow. The company hit records in Total GPU, Adjusted EBITDA, and Adjusted EBITDA margin while also cutting SG&A expenses. Retail units sold totaled 76,530, a decrease of 35%. Revenue totaled $2.968 billion, a decrease of 24%. Total gross profit was $499 million, an increase of 26%.

Carvana's Q1 2023 results showed a 25% decrease in revenue to $2.606 billion and a 25% decrease in retail units sold to 79,240. However, the company achieved a 14% increase in total gross profit to $341 million and significant improvements in GPU and Adjusted EBITDA margins. The company is on track to achieve positive Adjusted EBITDA in Q2 2023.

Carvana's Q4 2022 results showed a decrease in retail units sold, revenue, and gross profit compared to Q4 2021. The company experienced a net loss and a decrease in Adjusted EBITDA margin. However, Carvana made progress in reducing SG&A expenses and is focused on driving the business to positive free cash flow.

Carvana's Q3 2022 results reflect strong operational progress, including a sequential reduction in Carvana-related SG&A expense by approximately $90 million and sequential improvement in Adjusted EBITDA, despite a challenging industry and macroeconomic environment that led to a decrease in retail units sold and limited progress in SG&A per retail unit sold.

Carvana's Q2 2022 results showed progress in retail units sold, revenue, and total GPU, with reductions in SG&A dollars and improved EBITDA margin. The acquisition of ADESA U.S. was completed, expanding the logistics network and reconditioning capacity. The company is adapting to industry challenges and aims for efficiency to capitalize on future improvements.

Carvana's Q1 2022 results were impacted by industry-wide and company-specific challenges, leading to a net loss of $506 million despite a 56% increase in revenue. The company continues to focus on long-term growth and market share gains.

Carvana's Q4 2021 saw significant growth in retail units sold, revenue, and gross profit, but also an increased net loss. The company achieved significant milestones, including selling its 1 millionth car and first profitable quarter in Q2 2021, but faced challenges at the end of 2021 and start of 2022 due to the Omicron wave, rising interest rates, and vehicle price increases.

Carvana's Q3 2021 showed significant growth with a 125% increase in revenue to $3.5 billion and a 74% increase in retail units sold. Despite operational constraints and the Delta variant impact, the company achieved positive EBITDA for the second consecutive quarter and expanded its market coverage.

Carvana reported a landmark quarter with record retail unit sales of 107,815, revenue of $3.3 billion, and a total gross profit per unit of $5,120. The company achieved its first quarter of positive net income at $45 million and a record EBITDA margin of 3.4%.

Carvana's Q1 2021 showcased significant growth, with a 76% increase in retail units sold and a 104% increase in revenue. The company also improved its total gross profit per unit and demonstrated operating leverage, despite inventory constraints and ongoing investments in capacity scaling.