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
For further details see:
Carvana reports Q1 results