Carvana

CVNA · Consumer Discretionary · Market cap $64.7B

Q2 FY26 Apr 1 – Jun 30, 2026 reported Jul 29, 2026

Revenue$7.4B +52% year over year

Gross profit$1.4B

Operating profit$0.7B

Net profit$0.3B 4% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	7.4	100%	+52%
Used Vehicle Sales	5.5	74%	+62%
Wholesale Sales and	1.3	18%	+31%
Product and Service Other	0.5	7%	+28%
Cost of revenue	−6	81%
Gross profit	1.4	19% margin	−3pp
SG&A	−0.7	10%	−2pp
Operating profit	0.7	9% margin	−1pp
Tax	−0.1
Interest & other costs	−0.3
Net profit	0.3	4%	+0pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	6.4	100%	+52%
Used Vehicle Sales	4.8	75%	+62%
Wholesale Sales and	1.1	17%	+25%
Product and Service Other	0.5	8%	+35%
Cost of revenue	−5.2	81%
Gross profit	1.3	20% margin	−2pp
SG&A	−0.7	11%	−2pp
Operating profit	0.6	9% margin	+0pp
Interest & other costs	−0.3
Net profit	0.3	4%	−1pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	5.6	100%	+58%
Used Vehicle Sales	4.2	75%	+63%
Wholesale Sales and	1	18%	+46%
Product and Service Other	0.5	9%	+45%
Cost of revenue	−4.6	82%
Gross profit	1.1	19% margin	−3pp
SG&A	−0.6	11%	−3pp
Operating profit	0.4	8% margin	+0pp
Interest & other costs	−2.3
Net profit	0.9	15%	+13pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	5.6	100%	+55%
Used Vehicle Sales	4	71%	+57%
Wholesale Sales and	1.2	21%	+50%
Product and Service Other	0.5	9%	+45%
Cost of revenue	−4.5	80%
Gross profit	1.1	20% margin	−2pp
SG&A	−0.6	11%	−2pp
Operating profit	0.6	10% margin	+1pp
Interest & other costs	−0.4
Net profit	0.2	3%	+0pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4.8	100%	+42%
Used Vehicle Sales	3.4	71%	+41%
Wholesale Sales and	1	21%	+42%
Product and Service Other	0.4	8%	+47%
Cost of revenue	−3.8	79%
Gross profit	1.1	22% margin	+1pp
SG&A	−0.6	11%	−2pp
Operating profit	0.5	11% margin	+3pp
Interest & other costs	−0.3
Net profit	0.2	4%	+3pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Apr 1 – Jun 30, 2026	Jul 29, 2026	$7.4B	+52%	9%	$0.3B	4%
Q1 FY26	Mar 31, 2026	Apr 29, 2026	$6.4B	+52%	9%	$0.3B	4%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 18, 2026	$5.6B	+58%	7%	$0.9B	15%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 29, 2025	$5.6B	+55%	11%	$0.2B	3%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 30, 2025	$4.8B	+42%	10%	$0.2B	4%