Carvana Co. (CVNA) Q4 2025 Earnings Call

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WEBVTT 00:00:00.419 -- 00:00:06.068 Good day and welcome to the Carvana Fourth Quarter 2025 Earnings Conference Call. 00:00:06.068 -- 00:00:08.432 All participants will be in a listen-only mode. 00:00:08.432 -- 00:00:12.158 Should you need assistance, please signal a conference specialist by pressing the star 00:00:12.158 -- 00:00:16.866 key followed by zero. After today's presentation, there will be an opportunity to ask 00:00:16.866 -- 00:00:21.894 questions. To ask a question, you may press star, then one on a touch-tone phone. 00:00:21.894 -- 00:00:25.040 To withdraw your question, please press star, then two. 00:00:25.040 -- 00:00:29.665 Please note this event is being recorded. I would now like to turn the conference over 00:00:29.665 -- 00:00:34.170 to Meg Keehan with Investor Relations. Please go ahead. 00:00:34.170 -- 00:00:38.034 Thank you, Nick. Good afternoon, ladies and gentlemen, and thank you for joining us on 00:00:38.034 -- 00:00:42.099 Carvana's fourth quarter and full year 2025 earnings conference call. 00:00:42.099 -- 00:00:47.064 Please note that this call will be simultaneously webcast on the Investor Relations section 00:00:47.064 -- 00:00:50.606 of the company's corporate website at investors.carvana.com. 00:00:51.089 -- 00:00:54.655 The fourth quarter shareholder letter is also posted on the IR website. 00:00:54.655 -- 00:00:59.420 Additionally, we posted a set of supplemental financial tables for Q4, which can be found 00:00:59.420 -- 00:01:02.484 on the events and presentations page of our IR website. 00:01:02.484 -- 00:01:06.709 Joining me on the call today are Ernie Garcia, Chief Executive Officer, and Mark Jenkins, 00:01:06.709 -- 00:01:10.993 Chief Financial Officer. Before we start, I would like to remind you that the following 00:01:1...