secwatch.observer — SEC 8-K summary
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Issuer:     CARVANA CO. (CVNA)
CIK:        0001690820
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0001690820-26-000008
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carvana Q4/FY2025: record 596.6K units sold (+43% YoY), revenue $20.3B (+49%), Adj EBITDA $2.237B
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- Record FY2025 net income of $1.895B (incl. ~$685M non-cash tax benefit); GAAP operating income $1.881B, margin 9.3%.
- Q4 retail units 163,522 (+43% YoY), revenue $5.603B (+58%), Adj EBITDA $511M (margin 9.1%).
- FY2025 retail units 596,641 (+43% YoY), revenue $20.322B (+49%), Adj EBITDA $2.237B (margin 11.0%).
- Guidance expects significant growth in retail units and Adj EBITDA in FY2026; sequential increase in Q1 2026.
- Long-term target: 3M retail units/year at 13.5% Adj EBITDA margin by 2030-2035.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1690820/000169082026000008/0001690820-26-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1690820/000169082026000008/cvna-20260218.htm
  HTML page:      https://secwatch.observer/filing/0001690820-26-000008

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