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AI brief of an SEC Form 8-K · Carvana (CVNA)

Carvana posts 2023 net income of $150 million; Q4 revenue fell 15% to $2.424 billion

Mixed Impact 3 of 5 earnings Written later

Carvana reported fourth-quarter and full-year 2023 results. Q4 revenue of $2.424 billion fell 15% from a year earlier, while the net loss margin narrowed to (8.3)% from (50.8)%. Full-year net income of $150 million was helped by an $878 million one-time gain on debt extinguishment, and the company expects Q1 2024 Adjusted EBITDA significantly above $100 million.

Key points

  • Q4 2023 revenue was $2.424 billion, down 15%; retail units sold were 76,090, down 13%
  • Q4 basic and diluted net loss per Class A share was ($1.00), versus a net loss margin of (50.8)% in Q4 2022
  • FY 2023 net income was $150 million, including an $878 million gain on debt extinguishment; FY revenue was $10.771 billion, down 21%
  • Q1 2024 outlook: retail units sold slightly up year over year and Adjusted EBITDA significantly above $100 million

The filing

CompanyCarvana (CVNA)
Form8-K, current report
Filed with the SECFeb 22, 2024, 4:10 PM ET
Accession number0001690820-24-000091

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 22, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.