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Carvana | ARS: Annual Report to Security Holders

SEC announcement · Mar 26 16:21

CVNA +4.44%

Summary by Moomoo AI

Carvana Co., an online car retailer, has released its 2023 Annual Report, reflecting on the company's journey, challenges, and financial performance. The report highlights the company's resilience despite experiencing a significant stock price drop from an all-time high of $376.83 in August 2021 to an all-time low of $3.55 in December 2022. Carvana was also named 'The Worst Company of 2022' by Yahoo Finance. The report emphasizes the importance of resilience, which CEO Ernest Garcia III attributes to the company's competitive, curious, and purpose-driven team. Carvana's history is marked by initial rejections from private investors and a challenging path to going public in 2017. Despite these obstacles, the company has focused on its mission to improve the car buying and selling experience. The report includes customer testimonials and boasts a high average star rating from over 195,000 reviews. Financially, Carvana reported a decrease in total revenue from $13.604 billion in 2022 to $10.771 billion in 2023, with retail units sold also declining from 412,296 in 2021 to 312,847 in 2022. The company maintains its goal to become the largest and most profitable automotive retailer.

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This announcement is a separate document:

Doc 1

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