Carvana Co. CVNA

What this company does

Carvana operates an e-commerce platform for buying and selling used cars. Since its inception in 2012 through December 31, 2025, the company's logistics network, which spans 316 metropolitan statistical areas, and its distribution network, serving over 80% of the U.S. population, supported the sale of 2.8 million retail vehicles and generated $84.1 billion in total revenue. As of December 31, 2025, it had over 23,100 full-time and part-time employees. It primarily acquires its used vehicle inventory directly from customers, used car auctions, including through its digital auction platform, and wholesale used vehicle suppliers, including retail marketplace partners. Once it acquires a vehicle, the company transports it to one of its inspection and reconditioning centers, or to auction locations with reconditioning capabilities, together referred to as Reconditioning Sites, where the vehicle enters its inventory management system. It offers integrated financing through its own loan origination platform. Carvana Co. was formed as a Delaware corporation in 2016 to operate the business of Carvana Group, LLC and its subsidiaries.

Written from the business description in CARVANA CO.'s annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.