After the bell on Wednesday, we received third quarter results from online vehicle retailer Carvana (CVNA), seen in this shareholder letter. As the company has continued to grow its revenues at a significant pace, expenses have also grown quite considerably as well. Unfortunately, the Q3 results weren't that great overall, as the company's financial picture continues to weaken despite the stock trading at a tremendously high valuation.
The company reported revenues of almost $1.1 billion for the period, easily outpacing estimates for $1.01 billion, and top-line numbers have not been the problem. The big