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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Rajat Gupta | JPMorgan | 14 (14%) |
| Sharon Zackfia | William Blair | 14 (0%) |
| Daniela Haigian | Morgan Stanley | 13 (15%) |
| Jeff Lick | Stephens | 12 (8%) |
| Brian Nagel | Oppenheimer | 11 (0%) |
| Marvin Fong | BTIG | 9 (0%) |
| Chris Pierce | Needham | 9 (0%) |
| John Colantuoni | Jefferies | 8 (13%) |
| Michael McGovern | Bank of America | 8 (0%) |
| Chris Bottiglieri | BNP Paribas | 8 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| William Blair | 1 | 14 (0%) |
| JPMorgan | 1 | 14 (14%) |
| Morgan Stanley | 1 | 13 (15%) |
| Stephens | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.55B | +46.3% | $0.11 | +156.1% | 20.4% | 7.6% | 2.2% | $36M |
| FY2025 Q1 | $4.23B | +38.3% | $0.30 | +504.0% | 21.0% | 9.3% | 5.1% | $205M |
| FY2025 Q2 | $4.84B | +41.9% | $0.26 |
| 12 (8%) |
| Oppenheimer | 1 | 11 (0%) |
| Needham | 1 | 9 (0%) |
| BTIG | 1 | 9 (0%) |
| Jefferies | 1 | 8 (13%) |
| +814.3% |
| 21.2% |
| 10.6% |
| 3.8% |
| $-2M |
| FY2025 Q3 | $5.65B | +54.5% | $0.21 | +60.9% | 20.3% | 9.8% | 2.7% | $307M |
| FY2025 Q4 | $5.60B | +58.0% | $1.19 | +964.3% | 18.8% | 7.6% | 15.3% | $379M |
| FY2026 Q1 | $6.43B | +52.0% | $0.34 | +12.6% | 19.8% | 9.0% | 3.9% | $56M |
| FY2026 Q2 | $7.38B | +52.4% | $0.42 | +64.1% | 18.8% | 9.2% | 4.2% | $187M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Carvana delivered Q1 FY2026 revenue of $6.432 billion, up 52%, with record retail unit growth of 40% to 187,393 units. Net income reached $405 million at a 6.3% net income margin, and adjusted EBITDA hit a new record of $672 million at a 10.4% margin. Reconditioning efficiency recovered after a Q4 setback, and strong SG&A leverage delivered a $170 per-unit reduction. Full-year 2026 guidance was reiterated for significant growth in both retail units sold and adjusted EBITDA.
Margin | Competitive Dynamics | Demand | Pricing | Cost Pressure | Revenue Growth | Innovation & R&D | Credit | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 3 | 3 | 3 | 2 | 4 | 3 | 4 |
| 2025Q1 | 6 | 5 | 1 | 3 | 1 | 5 | 1 | 3 |
| 2025Q2 | 9 | 6 | 7 | 2 | 1 | 4 | 2 | 3 |
| 2025Q3 | 7 | 4 | 6 | 2 | 3 | 2 | 5 | 4 |
| 2025Q4 | 7 | 5 | 5 | 5 | 3 | 3 | 3 | 1 |
| 2026Q1 | 7 | 8 | 4 | 5 | 9 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 6 | 6 | 9 | 7 | 7 | 7 |
| Competitive Dynamics | 3 | 5 | 6 | 4 | 5 | 8 |
| Demand | 3 | 1 | 7 | 6 | 5 | 4 |
| Pricing | 3 | 3 | 2 | 2 | 5 | 5 |
| Cost Pressure | 2 | 1 | 1 | 3 | 3 | 9 |
| Revenue Growth | 4 | 5 | 4 | 2 | 3 | |
| Innovation & R&D | 3 | 1 | 2 | 5 | 3 | 4 |
| Credit | 4 | 3 | 3 | 4 | 1 |
What CVNA and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We also continue to scale our embedded insurance offering with Carvana now surpassing 200,000 policies sold.”
Root's embedded insurance partnership with Carvana surpassed 200,000 policies sold, a growing point-of-sale distribution channel.
“I think you guys are up to maybe 6 or 7 Chrysler dealerships.”
An analyst notes Carvana has acquired roughly 6-7 Chrysler franchised dealerships as it experiments with new-car retail; management says the effort is still early.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CVNA Carvana Co. | 8 | +52.0% | |
| CPRT Copart | 3 | -3.6% |