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News articleYahoo Finance· February 18, 2026

Carvana Announces Record Fourth Quarter and Full Year 2025 Results

View original at finance.yahoo.com
“Full year record Net income of $1.895 billion1 and Net income margin of 9.3%”
Verbatim excerpt from the source · Yahoo Finance · short snapshot — read the full document at the original

What we drew from this source

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  • Carvana expects significant growth in both retail units sold and Adjusted EBITDA in full year 2026, including a sequential increase in both retail units sold and Adjusted EBITDA in Q1 2026, assuming the environment remains stable.

    80% confidence
  • In 2025, Carvana made significant progress in record units, industry-leading margins, multi-year high customer NPS, and expanded integrated reconditioning and digital auction capabilities.

    80% confidence
  • Carvana is still very small relative to its opportunity, but with 5 million cumulative customer transactions and counting, it is actively changing the way people buy and sell cars.

    80% confidence
  • Net income for FY 2025 was positively impacted by approximately $685 million associated with the release of the valuation allowance against deferred tax assets and recording of the full tax receivable agreement liability.

    80% confidence
  • In 2025, Carvana grew 43% year-over-year, delivered record unit economics, and passed significant value back to customers through better selection, faster delivery times, and lower costs.

    80% confidence
  • Net income for FY 2025 and Q4 2025 was negatively impacted by approximately $64 million and $67 million, respectively, associated with changes in the fair value of warrants to acquire Root common stock.

    80% confidence
  • In 2026, Carvana plans to maintain its 2025 priorities while placing additional weight on driving significant profitable growth at scale.

    80% confidence
  • Since launching in 2013, more than 4 million customers have chosen Carvana's automotive e-commerce experience.

    80% confidence
  • Achieving significant growth in units, record unit economics, and lower costs simultaneously is rare and speaks to the powerful positive feedback the model generates as it grows.

    80% confidence
  • Carvana remains firmly on track to its goal of selling 3 million retail units a year at a 13.5% Adjusted EBITDA margin by 2030 to 2035.

    80% confidence

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High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
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Where sources disagree
Ford Motor Company
Both facts give cash for Ford Motor Company at the same point in time (2025-12-31; FY 2025 year-end and Q4 2025 year-end are the same date). Both are labelled USD, but the values are 23,356,000,000 and 23.356, which cannot both be true in USD. The two numbers agree once the second is read as billions (23.356 bn = 23,356,000,000), so the economic content is consistent and the conflict is a unit/scale error in the Q4 2025 record. The period is not the reason for the conflict: a Q4 and an FY figure at the same year-end date should match.
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