Carvana delivered exceptional Q3 2024 results with retail unit sales growing 34% YoY to 108,651 units and revenue increasing 32% to $3.66 billion. The company achieved record profitability with net income of $148 million and a 4.0% net income margin, while Adjusted EBITDA reached an all-time high of $429 million with an industry-leading 11.7% margin.The company demonstrated strong operational performance with record GAAP gross profit of $807 million and total gross profit per unit of $7,427. SG&A expenses per retail unit decreased by $1,030 YoY to $4,317, driven by operational efficiency initiatives and higher sales volume. The integration with ADESA continues to progress, with 5 locations integrated and plans for further expansion.Looking ahead to Q4, Carvana expects a sequential increase in year-over-year growth rate for retail units sold and projects full-year 2024 Adjusted EBITDA to significantly exceed its previous guidance range of $1.0-1.2 billion. The company maintains strong liquidity with $871 million in cash and $2.39 billion in committed liquidity resources as of September 30, 2024.

Carvana delivered exceptional Q3 2024 results with retail unit sales growing 34% YoY to 108,651 units and revenue increasing 32% to $3.66 billion. The company achieved record profitability with net income of $148 million and a 4.0% net income margin, while Adjusted EBITDA reached an all-time high of $429 million with an industry-leading 11.7% margin.The company demonstrated strong operational performance with record GAAP gross profit of $807 million and total gross profit per unit of $7,427. SG&A expenses per retail unit decreased by $1,030 YoY to $4,317, driven by operational efficiency initiatives and higher sales volume. The integration with ADESA continues to progress, with 5 locations integrated and plans for further expansion.Looking ahead to Q4, Carvana expects a sequential increase in year-over-year growth rate for retail units sold and projects full-year 2024 Adjusted EBITDA to significantly exceed its previous guidance range of $1.0-1.2 billion. The company maintains strong liquidity with $871 million in cash and $2.39 billion in committed liquidity resources as of September 30, 2024.