Carvana Q1 FY26: where the revenue came from and where it went
The whole income statement of Carvana for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 29, 2026
Revenue$6.43B
+52% year over year
Gross profit$1.27B
20% margin
Operating profit$0.58B
9% margin
Net profit$0.25B
4% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 6.43 | 100% | +52% |
| Used vehicle sales | 4.83 | 75% | +62% |
| Wholesale sales & | 1.08 | 17% | +25% |
| Product & service other | 0.53 | 8% | +35% |
| Cost of revenue | −5.16 | 80% | |
| Gross profit | 1.27 | 20% margin | −2pp |
| SG&A | −0.69 | 11% | −2pp |
| Operating profit | 0.58 | 9% margin | +0pp |
| Interest & other costs | −0.30 | ||
| Tax | −0.04 | ||
| Net profit | 0.25 | 4% margin | −1pp |
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