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Cars.com Inc (CARS) Q4 2025 Earnings Call Transcript

Carvana reported a record 596,006 retail units sold in 2025, a 43% increase year‑over‑year, and Q4 revenue of $5.6 billion, up 58%. Adjusted EBITDA hit a new quarterly high of $511 million, while net income surged to $951 million, largely due to a $618 million non‑cash tax benefit. The company expanded its loan‑sale platform with up to $4 billion in new purchases through 2027, bringing total partner commitments to $12 billion, and pushed AI‑driven, no‑human‑interaction transactions to 30% of retail sales. Reconditioning capacity now spans 34 sites, supporting a goal of 3 million annual retail units.