EfficiencyCVNA's software platform is seen as an unappreciated and widening competitive moat, set to drive continued profitable growth.
Financial PerformanceRetail units sold grew 16% y/y, exceeding expectations, and total non-GAAP GPU of $6,802 beat consensus by nearly 11%.
ManagementManagement believes its existing production and fulfillment infrastructure can handle ~3x its current retail volume, providing an opportunity for meaningful leverage when CVNA decides to shift its focus to more meaningful growth.