Carvana Co. · NYSE:CVNA
Carvana — 2023 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Confere
9 slides from Carvana's conference presentation, Nov 14, 2023
Slide 1: 2023 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference
2023 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference November 14, 2023 November 2023 ©2023 Carvana, LLC
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Carvana’s current expectations and projections with respect to, among other things, its fi
Slide 3: History of Carvana
History of Carvana 1 2013 - 2021: The Growth Phase 2 2022: Challenges 3 2023: Profitability Focus ● Disrupted a $1T highly fragmented industry by ● Unforeseen macroeconomic and ● Have cut over $1.2B of annualized SG&A offering a simple and seamless car buying industry dynamics including expense resu
Slide 4: 2023: Getting Back on Trend
2023: Getting Back on Trend Continued focus on more profitable transactions, operational efficiencies, and cost reductions have driven dramatic improvements throughout our 2023 financial results. ©2023 Carvana, LLC Confidential Document 4
Slide 5: A Profitable Online Business Model
A Profitable Online Business Model The results of the last two quarters (Q2 and Q3) have clearly demonstrated the profitability of our vertically-integrated, online business model. Fundamental Improvements in Unit Profitability Significant Adjusted EBITDA Generation GAAP and Non-GAAP Total GPU in Q2
Slide 6: Driving Significant Unit Economics Gains
Driving Significant Unit Economics Gains Our focus on driving fundamental operating efficiency in Step 2 is generating significant unit economics gains. ~70% Retail Unit CAGR (Q1 2018 - Q1 2021) Our focus on efficiency has reduced non-vehicle We have also reduced operations expenses per retail cost
Slide 7: Excess Capacity Supports Multiples of Current Retail Unit Volume
Excess Capacity Supports Multiples of Current Retail Unit Volume Current Capacity Utilization Customer Care / Carvana Production Logistics Network Office Footprint 4.8x 3.4x 4.2x 4.5x 5.6x 2.9x ● In 2021 and early 2022, we invested significantly ● As utilization increases, we believe that our curren
Slide 8: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement our consolidated financial measures, which are prepared and presented in accordance with GAAP, we also refer to the following non-GAAP measures in this presentation: Non-GAAP GPU and Adjusted EBITDA. Non-GAAP Gross Profit is defined as GAAP Gross Profit plus
Slide 9: Non-GAAP Financial Measures
Non-GAAP Financial Measures ©2023 Carvana, LLC Confidential Document 9