Carvana Co. stock research
FY2024 Q2
Carvana (CVNA) Gross Margin — Quarter Ended Jun 30, 2024
Revenue grew relative to both the prior quarter and the same quarter last year, accompanied by a larger increase in gross profit. Cost of revenue also rose but at a slower pace, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue grew relative to both the prior quarter and the same quarter last year, accompanied by a larger increase in gross profit. Cost of revenue also rose but at a slower pace, resulting in an improved gross margin.
- The strongest observable margin driver is the expansion of gross margin compared to both the preceding quarter and the year-ago period.
- Gross margin improved sequentially and also compared to the same quarter one year earlier, reflecting a favorable balance between revenue growth and cost management.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
21.0%
Gross profit
$715.0M
Revenue
$3.4B
Cost of revenue
$2.7B
Quarter-over-quarter change
+1.7 pts
Year-over-year change
+4.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $2.8B | $482.0M | $2.3B | 17.4% |
| Dec 31, 2023 | $2.4B | $402.0M | $2.0B | 16.6% |
| Mar 31, 2024 | $3.1B | $591.0M | $2.5B | 19.3% |
| Jun 30, 2024 | $3.4B | $715.0M | $2.7B | 21.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+1.7 pts
Year-over-year change
Jun 30, 2023
+4.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the expansion of gross margin compared to both the preceding quarter and the year-ago period.
Gross margin improved sequentially and also compared to the same quarter one year earlier, reflecting a favorable balance between revenue growth and cost management.
Monitor the company's ability to sustain margin improvement as it continues to execute its profitability initiatives, per the filing discussion.