CVNA - Carvana reports Q1 results

2023-05-04 16:13:35 ET

• Carvana press release ( NYSE: CVNA ): Q1 Total gross profit per unit ("GPU") was $4,303, an increase of 52% compared to first quarter 2022
• Revenue of $2.61B (-25.4% Y/Y) beats by $30M .
• Shares +10% .
• Total Non-GAAP GPU was $4,796, an increase of 61% compared to first quarter 2022, the best first quarter in company history
  • Net loss margin was (11.0%), an improvement of 3.5% compared to first quarter 2022
  • Adjusted EBITDA margin was (0.9)%, an improvement of 9.4% compared to fourth quarter 2022, resulting in the best first quarter in company history
  • Company expects to achieve positive adjusted EBITDA in second quarter 2023

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