The company said full-year net income was $150 million, and net income margin was 1.4%. It said the result included a gain on debt extinguishment of $878 million from its debt exchange.

1. 01

   The company said full-year net income was $150 million, and net income margin was 1.4%. It said the result included a gain on debt extinguishment of $878 million from its debt exchange.

2. 02

   Carvana said full-year Adjusted EBITDA was $339 million, or 3.1% of revenue. It said full-year revenue was $10.771 billion, down 21%, and retail units sold fell 24% to 312,847.

3. 03

   The company said full-year GAAP Total GPU was $5,511, up $2,489 from 2022 $3,022, and Non-GAAP Total GPU was $5,984. It said full-year GAAP Retail GPU was $2,385.

4. 04

   Carvana said that if the environment remains stable, it expects retail units sold for Q1 2024 to be slightly up year over year and Adjusted EBITDA to be significantly above $100 million. The company also said it expects both metrics to increase in FY 2024 compared with FY 2023.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.