Carvana co. (CVNA)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17
Cash Flows from Operating Activities:
Net loss

-465,561

-364,600

-325,258

-297,433

-284,624

-254,700

-215,563

-190,913

-178,533

-164,300

0

0

0

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense

49,133

41,265

34,743

30,507

26,877

23,539

20,123

16,785

14,073

11,568

0

0

0

Loss on disposal of property and equipment

-1,810

-1,714

-1,079

-961

-521

-575

-618

-660

-861

-958

0

0

0

Provision for bad debt and valuation allowance

15,750

11,922

7,572

4,077

2,705

1,917

1,945

2,012

1,687

1,375

0

0

0

Gain on loan sales

131,077

137,301

115,482

88,989

61,038

51,729

42,370

35,620

28,646

21,697

0

0

0

Equity-based compensation expense

31,292

33,063

31,480

35,747

30,296

24,095

19,603

7,602

6,963

5,611

0

0

0

Amortization and write-off of debt issuance costs and bond premium

6,494

5,541

4,819

3,828

2,961

2,305

1,294

1,045

1,788

1,646

0

0

0

Originations of finance receivables

2,875,525

2,625,351

2,264,493

1,915,461

1,563,010

1,259,539

1,040,270

831,195

661,220

529,153

0

0

0

Proceeds from sale of finance receivables, net

2,855,223

2,643,912

2,546,904

2,476,044

2,014,719

1,633,519

1,279,910

809,143

648,478

527,265

0

0

0

Purchase of finance receivables

34,071

161,781

296,185

549,226

515,155

387,445

0

0

0

-

-

-

-

Principal payments received on finance receivables held for sale

99,443

85,017

54,623

30,846

11,227

0

0

0

0

-

-

-

-

Unrealized loss on beneficial interests in securitization

-12,369

-964

0

0

0

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

-8,689

9,741

37,685

19,459

17,678

19,212

11,990

9,922

13,214

8,715

0

0

0

Vehicle inventory

312,339

344,861

286,518

300,242

223,574

183,068

145,189

127,324

98,825

40,839

0

0

0

Other current assets

-

-

-

-

-

-

0

0

9,895

-

0

0

0

Other assets

23,731

32,619

14,423

14,543

25,419

12,249

6,322

6,206

4,471

7,624

0

0

0

Accounts payable and accrued liabilities

51,100

97,912

87,465

90,926

104,225

68,550

54,747

48,964

32,551

16,904

0

0

0

Operating lease right-of-use assets

91,987

46,928

0

0

0

-

-

-

-

-

-

-

-

Operating lease liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

Accounts payable to related party

-

-

-

-

-

-

-

0

-1,790

-

0

0

0

Other liabilities

-148

-418

-729

-1,099

-1,392

-853

-333

1,620

4,996

7,093

0

0

0

Net cash used in operating activities

-711,083

-757,134

-585,140

-529,689

-497,400

-414,340

-347,785

-318,118

-278,487

-199,924

0

0

0

Cash Flows from Investing Activities:
Purchases of property and equipment, including $0 and $4,257, respectively, from related parties

276,772

230,538

187,820

158,380

158,856

143,668

126,310

109,339

87,945

78,490

0

0

0

Principal payments received on beneficial interests in securitizations

3,524

2,799

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-273,248

-227,739

-185,243

-157,272

-165,526

-150,338

-132,980

-116,009

-87,945

-78,490

0

0

0

Cash Flows from Financing Activities:
Proceeds from short-term revolving facilities

5,642,523

4,485,917

3,643,671

2,911,985

2,262,822

1,848,051

1,572,152

1,389,735

1,194,873

949,144

0

0

0

Payments on short-term revolving facilities

5,370,461

4,219,415

3,836,247

3,324,750

2,176,578

1,899,880

1,417,843

1,209,488

1,036,076

865,665

0

0

0

Proceeds from issuance of long-term debt

491,918

481,772

370,233

689,067

425,272

399,063

421,281

55,388

48,306

32,698

0

0

0

Payments on long-term debt

18,592

15,683

33,252

31,506

39,834

35,522

-5,421

48

1,210

2,259

0

0

0

Proceeds from Verde Credit Facility

-

-

-

-

-

-

-

-

-

-

0

0

0

Payments of debt issuance costs

14,350

11,445

13,504

18,099

11,816

11,390

7,364

1,380

1,196

2,055

0

0

0

Net proceeds from issuance of Class A Convertible Preferred Stock

-

-

-

-

-

-

-

-

0

-

-

-

0

Proceeds from exercise of stock options

1,415

1,696

1,645

1,424

1,158

795

662

217

111

48

0

0

0

Tax withholdings related to restricted stock awards

7,753

5,830

4,685

4,176

2,782

2,509

1,681

1,027

864

704

0

0

0

Dividends paid on Class A Convertible Preferred Stock

-

-

-

-

-

-

-

-

0

-

-

-

0

Payments of costs related to initial public offering

-

-

-

-

-

-

-

-

0

-

-

-

0

Net cash provided by financing activities

1,022,311

1,014,623

420,592

511,809

630,056

466,264

823,821

496,903

486,562

416,087

0

0

0

Net increase in cash, cash equivalents and restricted cash

37,980

29,750

-349,791

-175,152

-32,870

-98,414

343,056

62,776

120,130

137,673

0

0

0

Class A Convertible Preferred Stock
Payments of costs related to issuance of Class A Convertible Preferred Stock

-

-

-

-

-

-

0

0

0

-

0

0

0

Dividends paid on Class A Convertible Preferred Stock

-

-

-

-

-

4,600

0

0

0

-

-

-

-

Convertible Preferred Stock
Payments of Stock Issuance Costs

-

-

-

-

-

-

-

-

-

-

0

0

0