Carvana (CVNA) Operating Expenses (2016 - 2026)
Carvana (CVNA) posted quarterly Operating Expenses of $704.0 million for Q2 2026, up 27.77% year-over-year from $551.0 million in Q2 2025, and up 2.03% quarter-over-quarter from $690.0 million in Q1 2026.
Carvana (CVNA) Operating Expenses (2016 - 2026) Analysis & Trends
Carvana's Operating Expenses history runs 11 years deep, the most recent figure standing at $704.0 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 27.77% year-over-year to $704.0 million; the TTM figure through Jun 2026 stood at $2.6 billion (up 27.67% YoY), while the FY2025 annual figure was $2.3 billion, up 23.16% from the prior year.
- Operating Expenses for Q2 2026 stood at $704.0 million, up from $690.0 million in the prior quarter.
- The five-year high for Operating Expenses was $727.0 million in Q1 2022, with the low at $433.0 million in Q3 2023.
- The 5-year median for Operating Expenses is $543.0 million (2025), against an average of $561.6 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses soared 83.12% in 2022, then tumbled 37.31% in 2023.
- Carvana's Operating Expenses stood at $632.0 million in 2022, then slumped by 30.54% to $439.0 million in 2023, then climbed by 12.53% to $494.0 million in 2024, then rose by 26.92% to $627.0 million in 2025, then gained by 12.28% to $704.0 million in 2026.
- Business Quant data shows CVNA's Operating Expenses at $704.0 million in Q2 2026, $690.0 million in Q1 2026, and $627.0 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Uxin | 78.07 Bn | 78.06 Bn | - | 1,188.60 |
| 2 | Carvana | 51.16 Bn | 48.42 Bn | 1.38 Bn | 704.00 Mn |
| 3 | Penske Automotive | 14.27 Bn | 14.21 Bn | 1.36 Bn | 974.00 Mn |
| 4 | Lithia Motors | 8.57 Bn | 8.21 Bn | 1.50 Bn | 1.01 Bn |
| 5 | Carmax | 8.31 Bn | 7.71 Bn | 854.41 Mn | 635.18 Mn |
| 6 | Autonation | 6.98 Bn | 6.93 Bn | 1.23 Bn | 856.30 Mn |
| 7 | Autozi Internet Technology (Global) | 6.85 Bn | 6.66 Bn | - | - |
| 8 | Rush Enterprises Inc \Tx\ | 6.31 Bn | 6.04 Bn | 361.67 Mn | 245.47 Mn |
| 9 | Valvoline | 4.29 Bn | 4.21 Bn | 214.90 Mn | 103.10 Mn |
| 10 | Openlane | 4.27 Bn | 4.08 Bn | 248.20 Mn | 487.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 704.00 Mn |
| Mar 31, 2026 | 690.00 Mn |
| Dec 31, 2025 | 627.00 Mn |
| Sep 30, 2025 | 595.00 Mn |
| Jun 30, 2025 | 551.00 Mn |
| Mar 31, 2025 | 535.00 Mn |
| Dec 31, 2024 | 494.00 Mn |
| Sep 30, 2024 | 469.00 Mn |
| Jun 30, 2024 | 455.00 Mn |
| Mar 31, 2024 | 456.00 Mn |
| Dec 31, 2023 | 439.00 Mn |
| Sep 30, 2023 | 433.00 Mn |
| Jun 30, 2023 | 452.00 Mn |
| Mar 31, 2023 | 472.00 Mn |
| Dec 31, 2022 | 632.00 Mn |
| Sep 30, 2022 | 656.00 Mn |
| Jun 30, 2022 | 721.00 Mn |
| Mar 31, 2022 | 727.00 Mn |
| Dec 31, 2021 | 620.00 Mn |
| Sep 30, 2021 | 546.00 Mn |