What is Carvana's deferred revenue?

Carvana (CVNA) reported deferred revenue of $47M in Q1 2026.

How has Carvana's deferred revenue changed year-over-year?

Carvana's deferred revenue decreased by 17.5% year-over-year, from $57M to $47M.

What is the long-term trend for Carvana's deferred revenue?

Over 5 years (2020 to 2025), Carvana's deferred revenue has grown at a 24.6% compound annual growth rate (CAGR), from $17M to $51M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Carvana CVNA Deferred Revenue

Deferred Revenue at other companies

AutoNationAN

$44.8M+1.4%

CopartCPRT

$33.49M+10.6%

CarGurus, Inc.CARG

$24.66M+10.0%

ACV Auctions Inc.ACVA

$7.7M+35.1%

Rush EnterprisesRUSHB

$86.46M-11.0%

Penske Automotive GroupPAG

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Other financials

Income statement

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Revenue$6.4B+52.0%

Gross profit$1.3B+36.8%

Operating income$581.0M+47.5%

Net income$250.0M+15.7%

EPS (diluted)$2.11—

Balance sheet

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Cash & equivalents$2.5B+31.9%

Total debt$5.7B-8.4%

Total equity$3.7B+147%

Total assets$13.8B+55.1%

Cash flow

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Operating cash flow$107.0M-53.9%

CapEx$51.0M+88.9%

Free cash flow$56.0M-72.7%

Valuation

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Market cap$47.42B+9.8%

Enterprise value$50.59B+6.5%

P/E32.9×-75.6×

P/S2.1×-0.8×

Profitability

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Gross margin20.1%-1.5pp

Operating margin9.2%+0.8pp

Net margin6.4%+3.7pp

FCF margin3.3%-3.1pp

Returns & leverage

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Return on equity55.2%+10.8pp

Debt / equity1.5×-2.6×

Current ratio4.1×+0.3×

Where this comes from

Reported directly by Carvana in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Carvana’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Carvana's deferred revenue?: Carvana (CVNA) reported deferred revenue of $47M in Q1 2026.
How has Carvana's deferred revenue changed year-over-year?: Carvana's deferred revenue decreased by 17.5% year-over-year, from $57M to $47M.
What is the long-term trend for Carvana's deferred revenue?: Over 5 years (2020 to 2025), Carvana's deferred revenue has grown at a 24.6% compound annual growth rate (CAGR), from $17M to $51M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.