Carvana Co. · NYSE:CVNA

Carvana — Q1 2025 Earnings Presentation

12 slides from Carvana's earnings presentation, May 7, 2025

  1. Slide 1: Supplemental Financial Tables Q1 2025

    Supplemental Financial Tables Q1 2025 May 2025 ©2025 Carvana, LLC

  2. Slide 2: Supplemental Financial Tables

    Supplemental Financial Tables Over the last several years we reported three non-GAAP financial metrics to clearly demonstrate and highlight the most meaningful drivers within our business: Non-GAAP Gross Profit, Non-GAAP SG&A Expense, and Adjusted EBITDA. The Non-GAAP metrics presented in these tabl

  3. Slide 3: Quarterly Units

    Quarterly Units © 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 3

  4. Slide 4: Year-Over-Year Changes in GPU and SG&A

    Year-Over-Year Changes in GPU and SG&A © 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 4

  5. Slide 5: Quarterly GPU

    Quarterly GPU Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in cost of sales. 2 SBC includes stock based compensation expense in cost of sales. 3 Root warrant revenue represents the non-cash impact of earning Root warrants associated with our

  6. Slide 6: Quarterly Retail GPU

    Quarterly Retail GPU Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in cost of sales. 2 SBC includes stock based compensation expense in cost of sales. © 2024 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 6

  7. Slide 7: Quarterly Wholesale Vehicle GPU

    Quarterly Wholesale Vehicle GPU Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in cost of sales. © 2024 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 7

  8. Slide 8: Quarterly Wholesale Marketplace GPU

    Quarterly Wholesale Marketplace GPU Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in cost of sales. © 2024 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 8

  9. Slide 9: Quarterly Other GPU

    Quarterly Other GPU Numbers may not foot due to rounding. Notes 1 Root warrant revenue represents the non-cash impact of earning Root warrants associated with our partnership with Root. © 2024 2025 Carvana, LLC ©2023 Carvana, LLC Confidential Document 9

  10. Slide 10: Quarterly SG&A Expenses

    Quarterly SG&A Expenses $m Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in SG&A expenses. 2 SBC includes stock based compensation expense in SG&A expenses. 3 Additional SG&A Expense Detail represented here is a reallocation of the SG&A expe

  11. Slide 11: Quarterly SG&A Expenses Per Retail Unit

    Quarterly SG&A Expenses Per Retail Unit Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in SG&A expenses. 2 SBC includes stock based compensation expense in SG&A expenses. 3 Additional SG&A Expense Detail represented here is a reallocation of th

  12. Slide 12: Quarterly Adjusted EBITDA

    Quarterly Adjusted EBITDA $m Numbers may not foot due to rounding. Notes 1 D&A includes depreciation and amortization expense in cost of sales and SG&A expenses. 2 SBC includes stock based compensation expense in cost of sales and SG&A expenses. 3 Root warrant revenue represents the non-cash

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