2026 Q2 10-Q: the profit on the books runs ahead of the money in the bank. Almost nothing non-cash sits between them, and a larger stock of cars is holding the difference
Carvana (CVNA) reported net income of $560m for the first half of 2026. Cash from operations over the same six months was $345m — 61.6% of the profit.
Carvana buys and sells used cars over the internet. In the first half of this year, less money came in than the profit on its books. It bought more cars to sell, and the money went into them. The company also pays very little of its staff in shares, so there is almost nothing to add back that would close the gap.
51 Filing score · Moderate
We find the numbers that are in the filing but not in the news, and analyze what they mean, how big they are and what to watch next quarter — with the arithmetic and quarterly metrics. Cancel any time.
It is common while a business is building up what it sells. Where the gap came from is tabled in the subscriber section.
Inventory at the prior year end and at this quarter end is compared in the subscriber section.
The comparison is in the subscriber section. It also means less is added back to bring book profit toward cash.
The growth against the prior-year quarter is set out in the subscriber section.
On SEC EDGAR, open Carvana Co.'s 2026 second-quarter 10-Q (accession 0001690820-26-000055) and read the cash flow statement and balance sheet.
Open the filing cited at the bottom of the article (e.g. the 10-Q note number) on SEC EDGAR via the link at the end of the article.
A four-item summary of the article: the key figure, what it means, the source, and what to watch next quarter. If you are short on time, read just that.
Customary quotation and sharing are fine with attribution (aiSwingX™ and the article URL). Republishing the full text elsewhere requires the License plan.