Carvana (CVNA) Q3 FY25 earnings call

Earnings call· Sep 2025 (Q3 FY25)· Consumer Discretionary· Oct 29, 2025

Source: earnings call transcript

Carvana achieved record retail units, revenue, and profitability in Q3 FY25, demonstrating significant progress towards its long-term goals. The company continues to leverage its vertically integrated model and technology, including AI, to drive operational efficiencies and enhance customer experience, notably with expanded same-day delivery capabilities in test markets. Management remains focused on fundamental gains and scaling the business while strengthening its balance sheet.

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CVNA operating KPIs by quarter

CVNA operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	Mar 2025 Q1 FY25	Jun 2025 Q2 FY25	This call Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Retail units sold	114.379K Retail units sold totaled 114,379 in Q4, an increase of 50%, a significant acceleration from Q3, leading to the second highest quarterly retail unit sales in our history despite Q4 being a seasonally lower demand period. Source: earnings call transcript	133.898K Retail units sold totaled 133,898 in Q1, an increase of 46% and a new company record. Source: earnings call transcript	143.28K Retail units sold totaled 143,280 in Q2, an increase of 41% and a new company record. Source: earnings call transcript	155.941K Retail units sold totaled 155,941 in Q3, an increase of 44% and a new company record. Source: earnings call transcript	163.522K Retail units sold totaled 163,522 in Q4, an increase of 43% and a new company record. Source: earnings call transcript	187.393K Retail units sold totaled 187,393 in Q1, an increase of 40%, and a new company record. Source: earnings call transcript	197.325K Retail units sold totaled 197,325 in Q2, an increase of 38% and a new company record. Source: earnings call transcript	+5.3%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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