CARVANA CO.CVNAEarnings & Financial Report
Carvana Co. is an online used car retailer based in Tempe, Arizona. Carvana was named to the 2021 Fortune 500 list, one of the youngest companies to be added to the list.
CVNA Q3 2025 Key Financial Metrics
Revenue
$5.6B
Gross Profit
$1.1B
Operating Profit
$552.0M
Net Profit
$151.0M
Gross Margin
20.3%
Operating Margin
9.8%
Net Margin
2.7%
YoY Growth
54.5%
Financial Flow
CARVANA CO. Q3 2025 Financial Summary
CARVANA CO. reported revenue of $5.6B for Q3 2025, with a net profit of $151.0M (2.7% margin). Cost of goods sold was $4.5B, operating expenses totaled $596.0M.
Key Financial Metrics
| Total Revenue | $5.6B |
|---|---|
| Net Profit | $151.0M |
| Gross Margin | 20.3% |
| Operating Margin | 9.8% |
| Report Period | Q3 2025 |
CARVANA CO. Annual Revenue by Year
CARVANA CO. annual revenue history includes year-by-year totals (for example, 2024 revenue was $13.7B).
| Year | Annual Revenue |
|---|---|
| 2024 | $13.7B |
| 2023 | $10.8B |
| 2022 | $13.6B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.42B | $3.06B | $3.41B | $3.65B | $3.55B | $4.23B | $4.84B | $5.65B |
| YoY Growth | -14.6% | 17.5% | 14.9% | 31.8% | 46.3% | 38.3% | 41.9% | 54.5% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $7.07B | $6.98B | $7.17B | $7.37B | $8.48B | $8.88B | $9.37B | $9.85B |
| Liabilities | $7.46B | $7.29B | $7.05B | $7.08B | $7.11B | $7.11B | $7.25B | $6.90B |
| Equity | $243.0M | $289.0M | $526.0M | $611.0M | $1.26B | $1.50B | $1.73B | $2.28B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-239.0M | $101.0M | $354.0M | $403.0M | $60.0M | $232.0M | $29.0M | $345.0M |
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