Carvana Co. (CVNA) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 6.43B | 5.6B | 5.65B | 4.84B | 4.23B | 3.55B | 3.65B | 3.41B | 3.06B | 2.42B | 2.77B | 2.97B | 2.61B | 2.84B | 3.39B | 3.88B | 3.5B | 3.75B | 3.48B | 3.34B |
| Revenue Growth % | 51.98% | 57.96% | 54.5% | 41.94% | 38.26% | 46.33% | 31.81% | 14.89% | 17.46% | -14.56% | -18.1% | -23.58% | -25.48% | -24.41% | -2.7% | 16.43% | 55.77% | 105.49% | 125.39% | 198.39% |
| Cost of Goods Sold | 5.16B | 4.55B | 4.5B | 3.81B | 3.35B | 2.83B | 2.89B | 2.74B | 2.51B | 2.06B | 2.34B | 2.47B | 2.35B | 2.72B | 3.1B | 3.55B | 3.23B | 3.27B | 2.98B | 2.81B |
| COGS % of Revenue | 80.24% | 81.24% | 79.67% | 78.78% | 79.04% | 79.64% | 79.02% | 80.23% | 82.1% | 85.19% | 84.24% | 83.19% | 90.29% | 95.88% | 91.52% | 91.37% | 92.51% | 87.08% | 85.75% | 84.14% |
| Gross Profit | 1.27B | 1.05B | 1.15B | 1.03B | 887M | 722M | 767M | 674M | 548M | 359M | 437M | 499M | 253M | 117M | 287M | 335M | 262M | 485M | 496M | 529M |
| Gross Margin % | 19.76% | 18.76% | 20.33% | 21.22% | 20.96% | 20.36% | 20.98% | 19.77% | 17.9% | 14.81% | 15.76% | 16.81% | 9.71% | 4.12% | 8.48% | 8.63% | 7.49% | 12.92% | 14.25% | 15.86% |
| Gross Profit Growth % | 43.29% | 45.57% | 49.67% | 52.37% | 61.86% | 101.11% | 75.51% | 35.07% | 116.6% | 206.84% | 52.26% | 48.96% | -3.44% | -75.88% | -42.14% | -36.67% | -17.09% | 117.93% | 87.88% | 250.33% |
| Operating Expenses | 690M | 627M | 596M | 514M | 493M | 453M | 429M | 414M | 413M | 396M | 388M | 457M | 384M | 556M | 584M | 660M | 691M | 589M | 519M | 447M |
| OpEx % of Revenue | 10.73% | 11.19% | 10.55% | 10.62% | 11.65% | 12.77% | 11.74% | 12.14% | 13.49% | 16.34% | 13.99% | 15.4% | 14.74% | 19.6% | 17.25% | 16.99% | 19.76% | 15.69% | 14.91% | 13.4% |
| Selling, General & Admin | 690M | 627M | 595M | 551M | 535M | 329M | 469M | 455M | 456M | 256M | 433M | 452M | 468M | 379M | 656M | 721M | 707M | 589M | 546M | 470M |
| SG&A % of Revenue | 10.73% | 11.19% | 10.54% | 11.38% | 12.64% | 9.28% | 12.83% | 13.34% | 14.9% | 10.56% | 15.61% | 15.23% | 17.96% | 13.36% | 19.37% | 18.56% | 20.22% | 15.69% | 15.69% | 14.09% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 0 | -1000K | -1000K |
| Operating Income | 581M | 424M | 552M | 513M | 394M | 269M | 338M | 260M | 135M | -37M | 49M | 42M | -131M | -439M | -297M | -325M | -429M | -104M | -23M | 82M |
| Operating Margin % | 9.03% | 7.57% | 9.78% | 10.6% | 9.31% | 7.58% | 9.25% | 7.62% | 4.41% | -1.53% | 1.77% | 1.42% | -5.03% | -15.47% | -8.77% | -8.37% | -12.27% | -2.77% | -0.66% | 2.46% |
| Operating Income Growth % | 47.46% | 57.62% | 63.31% | 97.31% | 191.85% | 827.03% | 589.8% | 519.05% | 203.05% | 91.57% | 116.5% | 112.92% | 69.46% | -322.12% | -1191.3% | -496.34% | -627.12% | -5.25% | -228.57% | 192.13% |
| EBITDA | 650M | 493M | 617M | 581M | 467M | 343M | 411M | 336M | 217M | 45M | 136M | 132M | -38M | -357M | -219M | -260M | -392M | -72M | 5M | 106M |
| EBITDA Margin % | 10.11% | 8.8% | 10.93% | 12% | 11.04% | 9.67% | 11.24% | 9.85% | 7.09% | 1.86% | 4.9% | 4.45% | -1.46% | -12.58% | -6.47% | -6.69% | -11.21% | -1.92% | 0.14% | 3.18% |
| EBITDA Growth % | 39.19% | 43.73% | 50.12% | 72.92% | 115.21% | 662.22% | 202.21% | 154.55% | 671.05% | 112.61% | 162.1% | 150.77% | 90.31% | -395.83% | -4480% | -345.28% | -959.46% | 6.61% | -58.33% | 247.22% |
| D&A (Non-Cash Add-back) | 69M | 69M | 65M | 68M | 73M | 74M | 73M | 76M | 82M | 82M | 87M | 90M | 93M | 82M | 78M | 65M | 37M | 32M | 28M | 24M |
| EBIT | 581M | -1.73B | 384M | 451M | 514M | 304M | 304M | 222M | 221M | -37M | 923M | 50M | -129M | -1.29B | -355M | -322M | -442M | -126M | -20M | 88M |
| Net Interest Income | -99M | -98M | -125M | -143M | -139M | -148M | -157M | -173M | -173M | -165M | -153M | -155M | -159M | -153M | -153M | -116M | -64M | -55M | -48M | -43M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 99M | 98M | 125M | 143M | 139M | 148M | 157M | 173M | 173M | 165M | 153M | 155M | 159M | 153M | 153M | 116M | 64M | 55M | 48M | 43M |
| Other Income/Expense | -140M | -2.26B | -293M | -205M | -19M | -113M | -191M | -211M | -87M | -165M | 721M | -147M | -157M | -1B | -211M | -113M | -77M | -77M | -45M | -37M |
| Pretax Income | 441M | -1.83B | 259M | 308M | 375M | 156M | 147M | 49M | 48M | -202M | 770M | -105M | -288M | -1.44B | -508M | -438M | -506M | -181M | -68M | 45M |
| Pretax Margin % | 6.86% | -32.7% | 4.59% | 6.36% | 8.86% | 4.4% | 4.02% | 1.44% | 1.57% | -8.33% | 27.77% | -3.54% | -11.05% | -50.79% | -15% | -11.28% | -14.47% | -4.82% | -1.95% | 1.35% |
| Income Tax | 36M | -2.78B | -4M | 0 | 2M | -3M | -1M | 1M | -1M | -2M | 29M | 0 | -2M | 0 | 0 | 1M | 0 | 1M | 0 | 0 |
| Effective Tax Rate % | 8.16% | 151.91% | -1.54% | 0% | 0.53% | -1.92% | -0.68% | 2.04% | -2.08% | 0.99% | 3.77% | 0% | 0.69% | 0% | 0% | -0.23% | 0% | -0.55% | 0% | 0% |
| Net Income | 405M | 857M | 151M | 183M | 216M | 79M | 85M | 18M | 28M | -114M | 782M | -58M | -160M | -806M | -283M | -238M | -260M | -89M | -32M | 22M |
| Net Margin % | 6.3% | 15.3% | 2.67% | 3.78% | 5.1% | 2.23% | 2.33% | 0.53% | 0.91% | -4.7% | 28.2% | -1.95% | -6.14% | -28.41% | -8.36% | -6.13% | -7.43% | -2.37% | -0.92% | 0.66% |
| Net Income Growth % | 87.5% | 984.81% | 77.65% | 916.67% | 671.43% | 169.3% | -89.13% | 131.03% | 117.5% | 85.86% | 376.33% | 75.63% | 38.46% | -805.62% | -784.38% | -1181.82% | -622.22% | -40.52% | -357.14% | 153.66% |
| Net Income (Continuing) | 405M | 951M | 263M | 308M | 373M | 159M | 148M | 48M | 49M | -200M | 741M | -105M | -286M | -1.44B | -508M | -439M | -506M | -182M | -68M | 45M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 912M | 762M | 672M | 387M | 269M | 115M | -325M | -411M | -600M | -627M | -541M | -709M | -662M | -535M | 100M | 325M | -28M | 219M | 323M | 367M |
| EPS (Diluted) | 0.34 | 1.19 | 0.21 | 0.26 | 0.30 | 0.11 | 0.13 | 0.03 | 0.05 | -0.20 | 0.76 | -0.11 | -0.30 | -1.52 | -0.53 | -0.47 | -0.58 | -0.20 | -0.08 | 0.05 |
| EPS Growth % | 12.58% | 964.29% | 60.94% | 814.29% | 504% | 156.06% | -83.14% | 125.64% | 116.56% | 86.87% | 242.21% | 76.77% | 47.78% | -646.08% | -602.63% | -1003.85% | -528.26% | -17.24% | -280% | 141.94% |
| EPS (Basic) | 0.35 | 1.90 | 0.22 | 0.27 | 0.32 | 0.12 | 0.14 | 0.03 | 0.05 | -0.20 | 1.41 | -0.11 | -0.30 | -1.52 | -0.53 | -0.47 | -0.58 | -0.20 | -0.08 | 0.05 |
| Diluted Shares Outstanding | 740.42M | 1.13B | 731.37M | 716.15M | 712.93M | 699.29M | 667.77M | 642.33M | 581.49M | 570.55M | 550.83M | 531.11M | 530.05M | 529.54M | 529.28M | 507.25M | 450.48M | 434.69M | 423.89M | 407.2M |
| Basic Shares Outstanding | 713.75M | 708.75M | 696.07M | 677.07M | 670.29M | 650.82M | 619.41M | 594.65M | 581.49M | 570.55M | 554.22M | 531.11M | 530.05M | 529.54M | 529.28M | 507.25M | 450.48M | 434.69M | 423.89M | 406.99M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |