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Carvana Co. is a disruptive online used-car retail platform with a vertically integrated business model, offering several competitive advantages. As a digital auto retail pioneer, Carvana has disrupted the traditional used-car industry and provides customers with a convenient and transparent car-buying experience. The company has a Strong Buy rating and is poised for re-rating due to its unique business model and competitive advantages.

Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, announced its financial results for the quarter ended June 30, 2025. The company reported significant growth in retail units sold and profitability, driven by its unique business model.

In Q2 2025, Carvana sold 143,280 retail units, marking a 41% year-over-year (YoY) increase, and generated total revenue of $4.840 billion, up 42% YoY. The quarter also saw record profitability, with net income of $308 million and a net income margin of 6.4%, both all-time records for the company. Additionally, Carvana reported an Adjusted EBITDA of $601 million, which was an increase of 75% YoY, resulting in an Adjusted EBITDA margin of 12.4%.

Carvana expects a sequential increase in retail units sold in Q3 2025 and projects Adjusted EBITDA of $2.0 to $2.2 billion for the full year 2025, representing a significant increase from the $1.38 billion reported in 2024.

The company's founder and CEO, Ernie Garcia, attributed the strong performance to Carvana's differentiated business model and customer-centric approach. "Our record Q2 results further validate the strength and differentiation of the Carvana model," Garcia said. "Carvana’s industry-leading growth is the result of delivering an experience that customers love, and our industry-leading profitability is driven by our unique, efficient, and vertically integrated business model."

Carvana will host a conference call today, July 30, 2025, at 5:30 p.m. ET (2:30 p.m. PT) to discuss the financial results. To participate, analysts and investors can dial (833) 255-2830 or (412) 902-6715. A live audio webcast and supplemental financial information will be available on the company's website at investors.carvana.com.

References:
[1] https://investors.carvana.com/news-releases/2025/07-30-2025-210600779