Carvana Letter To Shareholders Q4 2022

Dear Shareholders Q2 2021 was a landmark quarter for Carvana. The company posted net income of 45 million in the second quarter a turnaround from a loss of 106 million in the year-earlier period. Q1 2021 was another strong quarter for Carvana. In Q4 we sourced 65 percent of retail units sold from customers up from 43 percent.

1 Dear Shareholders.

Carvana Letter To Shareholders Q4 2022. The company remained constrained into the first quarter with sale-ready inventory on its website down about 50 percent in January year over year. In the second quarter Carvana sold 107815 retail units nearly double what it sold in the same period last year. Growth in vehicles acquired from customers also fed our retail inventory diversifying our selection and improving acquisition prices Carvana said in a letter to shareholders.

In our Q4 2020 shareholder letter we outlined our expectations for the year including accelerated FY21 retail units. We grew retail unit sales 136 YOY improved GPU 50 YOY as we march towards our mid-term target of 3000 and we opened a record 23 markets. Retail units sold totaled 107815 an increase of 96 Revenue totaled 3336 billion an increase of 198.

Complete financial tables appear at the end of this letter. 2 Annual Key Metrics. Q3 2019 GAAP Results Retail units sold totaled 46413 an increase of 83.

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