{"schema_version":"secwatch.filing_event.v1","accession":"0001690820-23-000218","form_type":"8-K","ticker":"CVNA","cik":"0001690820","company_name":"CARVANA CO.","filed_at":"2023-07-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.871498+00:00","generated_at":"2026-06-13T06:25:21.335361+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Carvana Q2 record Adj EBITDA $155M; revenue down 24% but GPU surges 94%","bullets":["Retail units 76,530 (-35% YoY); revenue $2.97B (-24% YoY).","GAAP GPU $6,520 (+94% YoY); Non-GAAP $7,030; includes ~$900 non-recurring per unit.","Net loss -$105M; net loss margin (3.5%) improved from (11.0%) in Q1 2023.","Adj EBITDA $155M (5.2% margin) record; expects positive Adj EBITDA again in Q3 2023.","Achieved $1.1B annualized cost reductions; sees further SG&A efficiencies ahead."],"urls":{"canonical":"https://secwatch.observer/filing/0001690820-23-000218","json":"https://secwatch.observer/filing/0001690820-23-000218.json","markdown":"https://secwatch.observer/filing/0001690820-23-000218.md","text":"https://secwatch.observer/filing/0001690820-23-000218.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1690820/000169082023000218/0001690820-23-000218-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1690820/000169082023000218/cvna-20230719.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T06:25:21.335361+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4c7c255e47114a18296b7b4f2c4cfd686293782e","claim":"CARVANA CO. reported the fiscal quarter ended June 30, 2023 results: revenue $2.968 billion, net income -105 million, EPS $0.55.","evidence_excerpt":"Q2 2023 Financial Results : All financial comparisons stated below are versus Q2 2022, unless otherwise noted. Complete financial tables appear at the end of this letter. • Retail units sold totaled 76,530, a decrease of 35% • Revenue totaled $2.968 billion, a decrease of 24% • Total gross profit was $499 million, an increase of 26% • Total gross profit per unit (“GPU”) was $6,520, an increase of $3,152 • Non-GAAP Total GPU was $7,030, an increase of $3,347 ◦ GAAP and Non-GAAP Total GPU benefited from ~$900 of non-recurring items, including selling and holding a higher-than-normalized volume of loans and a benefit from our retail inventory allowance • Net loss margin was (3.5%), a sequential improvement from (11.0%) • Adjusted EBITDA margin 1 was 5.2% a sequential improvement from (0.9%) ◦ Adjusted EBITDA benefitted by ~$70 million from non-recurring items, including selling and holding a higher-than-normalized volume of loans and a benefit from our retail inventory allowance ◦ Basic a","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1690820/000169082023000218/0001690820-23-000218-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal quarter ended June 30, 2023"},{"label":"Revenue","value":"$2.968 billion"},{"label":"Net income","value":"-105 million"},{"label":"EPS","value":"$0.55"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}