Carvana Q2 record: 143k units (+41% YoY), net income $308M, Adj EBITDA $601M

CARVANA CO.

Retail units sold 143,280 (+41% YoY), revenue $4.84B (+42% YoY).
Net income $308M (margin 6.4%) vs $48M a year ago; GAAP op income $511M.
Adjusted EBITDA $601M (12.4% margin), +70% YoY.
Full year 2025 Adj EBITDA guidance raised to $2.0-2.2B from $1.38B in 2024.
Expects sequential increase in retail units in Q3 2025.

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