CVNA Carvana

Q3 2025 10-Q

Filed: Oct 29, 2025Period ending Sep 30, 2025

Consumer Discretionary

Retail-Auto Dealers & Gasoline StationsSEC EDGAR

Carvana (CVNA) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 29, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue $5.65B Q3 2025, up 54.5% YoY from $3.66B in Q3 2024; nine-month revenue $14.7B up 45.4% YoY from $10.1B
• Total gross profit $1.15B Q3 2025, up 42.3% YoY; total gross profit per retail unit $7,362 Q3 2025 vs $7,427 Q3 2024 (down 0.9%)

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Risk Factors

• No material changes in risk factors compared to 2025 10-K filing
• Carvana continues exposure to automotive market volatility affecting vehicle supply and pricing

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Quarterly Financial Summary
XBRL

Revenue

$5.6B

▲ +54.5% YoY▲ +16.7% QoQ

Net Income

$151M

▲ +77.6% YoY▼ -17.5% QoQ

Gross Margin

20.3%

▼ -175bp YoY▼ -165bp QoQ

Operating Margin

9.8%

▲ +55bp YoY▼ -78bp QoQ

Net Margin

2.7%

▲ +35bp YoY▼ -111bp QoQ

ROE

6.6%

Total Assets

$9.9B

Operating Cash Flow

$345M

▼ -14.4% YoY▲ +1089.7% QoQ

Source: XBRL data from Carvana Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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