Carvana reports record Q3: revenue $5.65B (+55% YoY), net income $263M, Adj. EBITDA $637M, guidance raised

CARVANA CO.

Record units sold 155,941 (+44% YoY); revenue $5.647B (+55% YoY), crossing $20B annual run rate.
Net income $263M (margin 4.7%); GAAP operating income $552M (margin 9.8%), both all-time records.
Adjusted EBITDA $637M (margin 11.3%); Q4 units >150k; FY25 Adj. EBITDA at/above $2.0-2.2B guidance.
Net income includes -$120M impact from decline in Root warrants fair value.

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