Carvana Co.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.38B | $6.43B | $5.65B | $4.84B | $4.23B | $3.66B | $3.41B | $3.06B |
| Cost of Revenue | $5.99B | $5.16B | $4.50B | $3.78B | $3.30B | $2.85B | $2.70B | $2.47B |
| Gross Profit | $1.38B | $1.27B | $1.15B | $1.06B | $929.0M | $807.0M | $715.0M | $591.0M |
| Gross Margin | 18.8% | 19.8% | 20.3% | 22.0% | 22.0% | 22.1% | 21.0% | 19.3% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $704.0M | $690.0M | $595.0M | $551.0M | $535.0M | $469.0M | $455.0M | $456.0M |
| Operating Income | $680.0M | $581.0M | $552.0M | $511.0M | $394.0M | $337.0M | $259.0M | $134.0M |
| Operating Margin | 9.2% | 9.0% | 9.8% | 10.6% | 9.3% | 9.2% | 7.6% | 4.4% |
| Interest Expense | — | — | — | — | — | — | — | $173.0M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | $66.0M | $36.0M | $-4.0M | $0 | $2.0M | $-1.0M | $1.0M | $-1.0M |
| Net Income | $310.0M | $250.0M | $151.0M | $183.0M | $216.0M | $85.0M | $18.0M | $28.0M |
| Net Margin | 4.2% | 3.9% | 2.7% | 3.8% | 5.1% | 2.3% | 0.5% | 0.9% |
| EPS (Basic) | — | — | — | — | — | — | — | $0.24 |
| EPS (Diluted) | — | — | — | — | — | — | — | $0.24 |
| Shares Outstanding (Basic) | 717.7M | — | — | 677.1M | — | — | — | — |
| Shares Outstanding (Diluted) | 740.0M | — | — | 716.2M | — | — | — | — |
| Dividends Per Share | — | — | — | — | — | — | — | — |