CARVANA CO.

Carvana Co., trading as CVNA on the New York Stock Exchange, operates as the leading e-commerce platform for buying and selling used cars in the United States. The company's website is located at investors.carvana.com. Founded in 2012, Carvana has transformed the automotive retail experience through a vertically integrated business model that combines comprehensive online sales capabilities with a sophisticated supply chain infrastructure.

The company's core business centers on retail vehicle sales, which generate the majority of revenue while enabling additional revenue streams from integrated financing, complementary products, and trade-in vehicles. Carvana's platform allows consumers to browse an inventory of over 75,000 vehicles online, complete with patented 360-degree virtual tours powered by proprietary photography technology. The company offers integrated financing through its proprietary loan origination platform, complementary products including vehicle service contracts and guaranteed asset protection coverage, and partnerships for auto insurance solutions.

Carvana operates a nationwide logistics network spanning 316 metropolitan statistical areas, with in-house distribution servicing over eighty percent of the U.S. population as of December 31, 2025. The company maintains a network of inspection and reconditioning centers with capacity to process approximately 1.5 million vehicles annually at full utilization. The company operates 39 patented car vending machines across the country, which serve as distinctive pickup locations and brand awareness drivers. As of December 31, 2025, Carvana employed over 23,100 full-time and part-time employees.

Since inception through December 31, 2025, Carvana has sold 2.8 million retail vehicles and generated $84.1 billion in total revenue. The company estimates its current market share at approximately 1.6 percent of the approximately 37 million annual used vehicle retail transactions in the United States. Carvana holds 51 issued U.S. patents covering vending machine technology, photography systems, website interfaces, and artificial intelligence applications, along with 28 domestic trademark registrations. The company's competitive advantages stem from its purpose-built vertically integrated platform, differentiated shopping experience, proprietary financing technology, and scaled infrastructure that creates powerful network effects through its nationally pooled inventory model.