---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-25-000352"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:40:58.721543+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001690820-25-000352
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082025000352/0001690820-25-000352-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082025000352/cvna-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-25-000352
- JSON: https://secwatch.observer/filing/0001690820-25-000352.json
- Plain text: https://secwatch.observer/filing/0001690820-25-000352.txt

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