{ "schemaVersion": 1, "organisationId": "O-f8747fc46aa44b88932d2de9d630033e", "slug": "carvana-co", "name": "CARVANA CO.", "updatedAt": "2026-09-28T11:53:55.059622Z", "sections": [ { "type": "OVERVIEW", "text": "Carvana Co. is a U.S.-focused online retailer of used vehicles. Customers can browse and buy vehicles online, arrange financing, and choose home delivery or, in some markets, pickup. Carvana also buys cars from consumers and sells vehicles through wholesale channels. Its stated mission is to change the way people buy cars. [P23960595][P11589146][P42627410][P7251992][P19828933][P75075915]\n\nCarvana began operations in 2012. At the end of 2025, its logistics network spanned 316 U.S. metropolitan statistical areas. The company reported $20.3 billion in 2025 revenue and more than 23,100 full- and part-time employees. [P23960595][T5402107][P39004519]\n[P23960595][P11589146][P42627410][P7251992][P19828933][P75075915][T5402107][P39004519]", "updatedAt": "2026-09-28T11:53:55.059622Z" }, { "type": "PRODUCTS", "text": "Carvana sells used vehicles through an online storefront where customers can search inventory and view annotated, high-definition 360-degree images of each vehicle’s interior, exterior and imperfections. Vehicles intended for retail sale undergo inspection and reconditioning covering features, controls, brakes, tires and cosmetics. Customers can choose home delivery or, in certain markets, pickup at a Carvana vehicle vending machine or other location; purchases carry a seven-day return policy. [P62327643][P19828933][P42627410][P81864373]\n\nCustomers can trade in a vehicle or sell it to Carvana without making a purchase. An online tool generates a conditional offer based on the vehicle’s condition and features, with pickup or drop-off available. Carvana also offers financing through its own loan-origination platform: eligible customers can compare conditional terms by down payment, monthly payment and loan length. Customers may instead pay cash or use a third-party lender. Optional products include vehicle service contracts covering certain mechanical repairs after the manufacturer’s warranty expires and GAP waiver coverage for eligible financed purchases. [P7251992][P11589146][P53727148]\n\nCarvana sells trade-ins and other vehicles that do not meet its retail standards through wholesale channels. Its wholesale marketplace also handles vehicles from third-party sellers and earns auction and related service fees. In 2025, retail vehicle sales represented approximately 71.5% of reported revenue, wholesale sales and revenues 19.9%, and other sales and revenues—including revenue associated with financing and ancillary products—8.5%. [P72931484][P540645][T5402107]\n[P62327643][P19828933][P42627410][P81864373][P7251992][P11589146][P53727148][P72931484][P540645][T5402107][T5402107][T5402107][T5402107]", "updatedAt": "2026-09-28T11:53:55.059622Z" }, { "type": "GEOGRAPHY", "text": "Carvana’s operations and sales are concentrated in the United States: substantially all of its revenue is generated and all of its assets are held there. It reports its business as a single segment rather than disclosing revenue by state or region. [P92443452] Its principal executive offices are in Tempe, Arizona. [https://www.sec.gov/Archives/edgar/data/1690820/000169082026000009/cvna-20251231.htm]\n\nAt year-end 2025, Carvana’s logistics network spanned 316 U.S. metropolitan statistical areas, and its in-house distribution network served more than 80% of the U.S. population. [P23960595] Its U.S. reconditioning network included inspection and reconditioning centers and auction locations with reconditioning capabilities. [P19828933]\n[P92443452][P23960595][P19828933][https://www.sec.gov/Archives/edgar/data/1690820/000169082026000009/cvna-20251231.htm]", "updatedAt": "2026-09-28T11:53:55.059622Z" }, { "type": "SEGMENTS", "text": "Carvana reports one operating and reportable segment, rather than separate retail, wholesale and financing segments. Its reported revenue categories describe different activities within that integrated business.[P101227664]\n\nIn 2025, retail vehicle sales, net, accounted for approximately 71.5% of revenue. This category includes vehicle sales to customers, shipping and delivery fees, and service revenue from retail marketplace transactions.[P112672261][P89312822] Wholesale sales and revenues contributed approximately 19.9%, comprising sales of trade-ins and other customer-acquired vehicles that do not qualify for retail inventory, plus wholesale marketplace fees and related services.[P112672261][P72931484] Other sales and revenues contributed approximately 8.5% and primarily include gains on sales of finance receivables and commissions on complementary products such as vehicle service contracts, GAP waiver coverage and auto insurance.[P112672261][P12913946]\n[P101227664][P112672261][P89312822][P72931484][P12913946]", "updatedAt": "2026-09-28T11:53:55.059622Z" }, { "type": "HISTORY", "text": "Carvana was founded in Phoenix in 2012 by Ernie Garcia, Ben Huston and Ryan Keeton. Backed by DriveTime, it launched its online used-car retail business in Atlanta in January 2013. Later that year it opened a vehicle-pickup facility described as a car vending machine; in 2015, it introduced a fully automated, coin-operated version in Nashville. [https://press.carvana.com/about/][https://www.prnewswire.com/news-releases/carvana-launches-first-100-percent-online-car-retailer-in-atlanta-188822201.html][https://www.prnewswire.com/news-releases/online-auto-retailer-launches-nations-first-car-vending-machine-232326311.html][https://www.businesswire.com/news/home/20151112005399/en/Carvana-Opens-World%E2%80%99s-Fully-Automated-Coin-Operated-Car-Vending]\n\nCarvana Co. completed its initial public offering in 2017. It acquired Car360 in 2018, adding technology for interactive vehicle imagery, and in 2022 acquired ADESA’s U.S. physical auction business, substantially expanding its auction and vehicle-processing footprint. [P23903997][https://investors.carvana.com/news-releases/2018/04-17-2018-110022377][P58649577][P7434023]\n[P23903997][P58649577][P7434023][https://press.carvana.com/about/][https://www.prnewswire.com/news-releases/carvana-launches-first-100-percent-online-car-retailer-in-atlanta-188822201.html][https://www.prnewswire.com/news-releases/online-auto-retailer-launches-nations-first-car-vending-machine-232326311.html][https://www.businesswire.com/news/home/20151112005399/en/Carvana-Opens-World%E2%80%99s-Fully-Automated-Coin-Operated-Car-Vending][https://investors.carvana.com/news-releases/2018/04-17-2018-110022377]", "updatedAt": "2026-09-28T11:53:55.059622Z" } ], "sources": [ { "id": "P23960595", "href": "https://app.finbar.com/go?id=P23960595", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P11589146", "href": "https://app.finbar.com/go?id=P11589146", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P42627410", "href": "https://app.finbar.com/go?id=P42627410", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P7251992", "href": "https://app.finbar.com/go?id=P7251992", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P19828933", "href": "https://app.finbar.com/go?id=P19828933", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P75075915", "href": "https://app.finbar.com/go?id=P75075915", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "T5402107", "href": "https://app.finbar.com/go?id=T5402107", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P39004519", "href": "https://app.finbar.com/go?id=P39004519", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P62327643", "href": "https://app.finbar.com/go?id=P62327643", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P81864373", "href": "https://app.finbar.com/go?id=P81864373", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P53727148", "href": "https://app.finbar.com/go?id=P53727148", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P72931484", "href": "https://app.finbar.com/go?id=P72931484", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P540645", "href": "https://app.finbar.com/go?id=P540645", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P92443452", "href": "https://app.finbar.com/go?id=P92443452", "label": "CARVANA CO. — Full financial report (2024 Y)", "documentId": "D-c78bc84959b64c6ebb4cab3432193995" }, { "id": "https://www.sec.gov/Archives/edgar/data/1690820/000169082026000009/cvna-20251231.htm", "href": "https://www.sec.gov/Archives/edgar/data/1690820/000169082026000009/cvna-20251231.htm", "label": "www.sec.gov" }, { "id": "P101227664", "href": "https://app.finbar.com/go?id=P101227664", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P112672261", "href": "https://app.finbar.com/go?id=P112672261", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P89312822", "href": "https://app.finbar.com/go?id=P89312822", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "P12913946", "href": "https://app.finbar.com/go?id=P12913946", "label": "CARVANA CO. — Full financial report (2025 Y)", "documentId": "D-d9db8082cb494e2f85f984b51c95b37d" }, { "id": "https://press.carvana.com/about/", "href": "https://press.carvana.com/about/", "label": "press.carvana.com" }, { "id": "https://www.prnewswire.com/news-releases/carvana-launches-first-100-percent-online-car-retailer-in-atlanta-188822201.html", "href": "https://www.prnewswire.com/news-releases/carvana-launches-first-100-percent-online-car-retailer-in-atlanta-188822201.html", "label": "www.prnewswire.com" }, { "id": "https://www.prnewswire.com/news-releases/online-auto-retailer-launches-nations-first-car-vending-machine-232326311.html", "href": "https://www.prnewswire.com/news-releases/online-auto-retailer-launches-nations-first-car-vending-machine-232326311.html", "label": "www.prnewswire.com" }, { "id": "https://www.businesswire.com/news/home/20151112005399/en/Carvana-Opens-World%E2%80%99s-Fully-Automated-Coin-Operated-Car-Vending", "href": "https://www.businesswire.com/news/home/20151112005399/en/Carvana-Opens-World%E2%80%99s-Fully-Automated-Coin-Operated-Car-Vending", "label": "www.businesswire.com" }, { "id": "P23903997", "href": "https://app.finbar.com/go?id=P23903997", "label": "CARVANA CO. — Full financial report (2017 Y)", "documentId": "D-8adeba571ad34c4786b176c86efb020f" }, { "id": "https://investors.carvana.com/news-releases/2018/04-17-2018-110022377", "href": "https://investors.carvana.com/news-releases/2018/04-17-2018-110022377", "label": "investors.carvana.com" }, { "id": "P58649577", "href": "https://app.finbar.com/go?id=P58649577", "label": "CARVANA CO. — Full financial report (2022 Y)", "documentId": "D-1cc6b24523ce45a1870d1773496be629" }, { "id": "P7434023", "href": "https://app.finbar.com/go?id=P7434023", "label": "CARVANA CO. — Full financial report (2022 Y)", "documentId": "D-1cc6b24523ce45a1870d1773496be629" } ] }