Competitive AdvantageCarvana's recent results have diminished concerns and skepticism around its progress on unit economics, shifting focus to the unique benefits of its operating model and widening competitive moat.
Debt ManagementThe company is generating positive free cash flow in a magnitude that supports self-financing while providing the opportunity to pay down its $5.6bn corporate debt balance.
Financial PerformanceCarvana's 3Q results demonstrated an EBITDA and cash flow run-rate well over a year ahead of prior forecasts, making a strong case for the company having achieved 'escape velocity' on profitable growth.