Carvana said retail units sold totaled 133,898 in Q1 2025 ended March 31, an increase of 45.7%, and revenue totaled $4.232 billion, an increase of 38%.

1. 01

   Carvana said retail units sold totaled 133,898 in Q1 2025 ended March 31, an increase of 45.7%, and revenue totaled $4.232 billion, an increase of 38%.

2. 02

   The company said net income for Q1 2025 totaled $373 million, an increase from $49 million in the prior-year quarter, and Adjusted EBITDA totaled $488 million with a margin of 11.5%. Net income included a benefit of $158 million from the fair value of Root warrants.

3. 03

   Carvana said its new management objective is to sell 3 million retail units per year at an Adjusted EBITDA margin of 13.5% within 5 to 10 years, and it expects to convert approximately 90% of Adjusted EBITDA into GAAP operating income.

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. Some paragraphs were omitted because their support in the source could not be confirmed.

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

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