CARVANA CO. (CVNA) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	25.1B	20.3B	13.7B	10.8B	13.6B
Cost of Revenue	20.2B	16.1B	11.0B	9.0B	12.6B
Gross Profit	4.9B	4.2B	2.7B	1.7B	1.0B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	2.6B	2.3B	1.7B	1.6B	2.5B
General & Admin Expense	2.2B	1.9B	1.5B	1.4B	2.0B
Selling & Marketing Expense	446.0M	363.0M	229.0M	228.0M	490.0M
Other Expenses	1.0M	3.0M	—	198.0M	—
Total Operating Expenses	2.6B	2.3B	1.7B	1.8B	2.5B
Cost and Expenses	22.8B	18.4B	12.7B	10.9B	15.1B
Operating Income (EBIT)	2.2B	1.9B	1.0B	(80.0M)	(1.5B)
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	423.0M	505.0M	651.0M	632.0M	486.0M
Net Interest Income	(423.0M)	(505.0M)	(651.0M)	(632.0M)	(486.0M)
Other Non-Op Income/Expense	(2.8B)	(2.8B)	(602.0M)	255.0M	(1.4B)
Non-Operating Income (excl Interest)	2.4B	2.3B	(49.0M)	(887.0M)	917.0M
EBT (Pre-Tax Income)	(553.0M)	(890.0M)	400.0M	175.0M	(2.9B)
Income Tax Expense	(2.7B)	(2.8B)	(4.0M)	25.0M	1.0M
Bottom Line
Net Income	1.6B	1.4B	210.0M	450.0M	(1.6B)
Earnings from Cont. Ops	2.1B	1.9B	404.0M	150.0M	(2.9B)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	2.1B	1.9B	210.0M	150.0M	(1.6B)
Per Share
Basic EPS	$2.89	$2.04	$0.34	$0.82	($3.15)
Diluted EPS	$2.16	$1.69	$0.32	$0.15	($3.15)
Revenue Per Share	$34.91	$29.53	$22.35	$19.70	$26.98
Shares
Basic Shares Outstanding	717.7M	688.2M	611.7M	546.6M	504.1M
Diluted Shares Outstanding	740.0M	1.1B	661.0M	1.0B	504.1M
Profitability Metrics
EBITDA	142.0M	(110.0M)	1.4B	1.2B	(2.1B)
D&A	272.0M	275.0M	305.0M	352.0M	261.0M
EBIT	(130.0M)	(385.0M)	1.1B	807.0M	(2.4B)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026