---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-25-000160"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:27:00.427685+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Carvana Q1 record: 133.9K retail units (+46% YoY), net income $373M, Adj. EBITDA $488M, expects Q2 records

## Summary
- Retail units sold 133,898 (+46% YoY); revenue $4.23B (+38% YoY); both all-time quarterly records.
- Net income $373M (margin 8.8%) vs $49M a year ago; Adjusted EBITDA $488M (margin 11.5%).
- GAAP Operating income $394M (9.3% margin), a new record; EPS $1.51 diluted.
- Expects sequential increases in Q2 to all-time records for both units and Adjusted EBITDA.
- New long-term objective: 3M retail units/year at 13.5% Adj. EBITDA margin within 5-10 years.

## SEC filing metadata
- accession: 0001690820-25-000160
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082025000160/0001690820-25-000160-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082025000160/cvna-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-25-000160
- JSON: https://secwatch.observer/filing/0001690820-25-000160.json
- Plain text: https://secwatch.observer/filing/0001690820-25-000160.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.