Carvana achieved record profitability in Q2 2024, with retail units growing 33% YoY to 101,440 vehicles and revenue increasing 15% to $3.41 billion. The company posted a net income of $48 million, marking a 1.4% net income margin, while achieving an all-time-high Adjusted EBITDA margin of 10.4% at $355 million.Total gross profit rose 43% YoY to $715 million, with gross profit per unit reaching $7,049. The company demonstrated significant operational efficiency improvements, reducing SG&A expenses per unit to $4,485. These results position Carvana as both the fastest-growing and most profitable public automotive retailer.Looking ahead, Carvana expects sequential retail unit growth in Q3 and projects full-year 2024 Adjusted EBITDA of $1.0-1.2 billion, up from $339 million in 2023. With just 1% market share and infrastructure capacity for 3x growth, the company sees substantial opportunities for further expansion while maintaining profitability.

Carvana achieved record profitability in Q2 2024, with retail units growing 33% YoY to 101,440 vehicles and revenue increasing 15% to $3.41 billion. The company posted a net income of $48 million, marking a 1.4% net income margin, while achieving an all-time-high Adjusted EBITDA margin of 10.4% at $355 million.Total gross profit rose 43% YoY to $715 million, with gross profit per unit reaching $7,049. The company demonstrated significant operational efficiency improvements, reducing SG&A expenses per unit to $4,485. These results position Carvana as both the fastest-growing and most profitable public automotive retailer.Looking ahead, Carvana expects sequential retail unit growth in Q3 and projects full-year 2024 Adjusted EBITDA of $1.0-1.2 billion, up from $339 million in 2023. With just 1% market share and infrastructure capacity for 3x growth, the company sees substantial opportunities for further expansion while maintaining profitability.