Carvana reported its strongest quarter ever in Q2 2025, delivering all-time records in retail unit sales, revenue, and profitability. The online used car retailer sold 143,280 vehicles, up 41% year-over-year, and posted $4.84 billion in revenue, a 42% gain from the same period in 2024. Net income reached $308 million, with a net income margin of 6.4%. The company also achieved $601 million in adjusted EBITDA and a 12.4% EBITDA margin, signaling operational efficiency from its vertically integrated model. Carvana expects continued growth through the third quarter and raised its full-year Adjusted EBITDA forecast to a range of $2.0 to $2.2 billion.