Direct Answer
Carvana reports revenue across 3 product and service lines in its fiscal 2025 Form 10-K. Used Vehicle Sales is the largest, with $14.5 billion of revenue (72% of the total), followed by Wholesale Sales and Revenues at $4.1 billion (20%).
How Does Carvana Make Money?
Used Vehicle Sales supplies 72% of revenue, so Carvana's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Product and Service Other grew fastest (+50.6%) and Wholesale Sales and Revenues slowest (+42.6%), so the revenue mix tilts toward Product and Service Other while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Used Vehicle Sales | $14.5 billion | $9.7 billion | 71.5% | 50.2% |
| Wholesale Sales and Revenues | $4.1 billion | $2.8 billion | 19.9% | 42.6% |
| Product and Service Other | $1.7 billion | $1.2 billion | 8.5% | 50.6% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Carvana's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Carvana reported in the segment note and revenue disclosures of its Form 10-K filed February 18, 2026 (accession 0001690820-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Carvana's main products and services?
In its fiscal 2025 Form 10-K, Carvana reports revenue for Used Vehicle Sales, Wholesale Sales and Revenues and Product and Service Other.
Which part of Carvana brings in the most revenue?
Used Vehicle Sales, with $14.5 billion of revenue in fiscal 2025, or 72% of the total.
Where does Carvana report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 18, 2026, alongside management's discussion of each segment's results.