CVNA — what changed in the latest 10-Q
A section-by-section comparison of CVNA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-29 vs the prior 10-Q · 2026-04-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +28 | −11 | ~27 | 102 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +3 | −2 | 0 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Other information | Text added/removed | +4 | −3 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-29
increase the share of customers with access to same-day or next-day delivery. We plan to continue expanding production capacity through integrating retail production lines at additional ADESA facilities, increasing staffing at existing facilities, building new lines at ADESA facilities, and eventual…
(dollars in millions, except per unit amounts)(dollars in millions, except per unit amounts)
(2) Includes $117, $83, $231 and $155, respectively, of other sales and revenues from related parties.
Six months ended June 30, 2026 versus 2025. Retail vehicle sales increased by $4.0 billion to $10.3 billion during the six months ended June 30, 2026, compared to $6.4 billion during the six months ended June 30, 2025. The increase in revenue was primarily due to an increase in the number of retail …
Three months ended June 30, 2026 versus 2025. Wholesale sales and revenues increased by $319 million to $1.3 billion during the three months ended June 30, 2026, compared to $1.0 billion during the three months ended June 30, 2025. The increase in revenue was primarily due to an increase in the numb…
Text removed vs the prior filing · source: 10-Q · 2026-04-29
existing facilities, building new lines at ADESA facilities, and eventually building new greenfield production locations.
(1) Includes $13 and $8, respectively, of wholesale sales and revenues from related parties.
Three months ended March 31, 2026 versus 2025. Wholesale sales and revenues increased by $215 million to $1.1 billion during the three months ended March 31, 2026, compared to $863 million during the three months ended March 31, 2025. The increase in revenue was primarily due to an increase in the n…
Three months ended March 31, 2026 versus 2025. Other sales and revenues increased by $137 million to $526 million during the three months ended March 31, 2026, compared to $389 million during the three months ended March 31, 2025. The increase in revenue was primarily due to an increase in gain on l…
Three months ended March 31, 2026 versus 2025. Retail vehicle gross profit increased by $164 million to $593 million during the three months ended March 31, 2026, compared to $429 million during the three months ended March 31, 2025. This increase was driven primarily by an increase in the number of…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-07-29
Under the supervision and with the participation of our management, including the chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securit…
period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective as of such date. Our disclosure controls and procedures are designed to ensure that information…
There were no changes to our internal controls over financial reporting that occurred during the three months ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2026-04-29
Under the supervision and with the participation of our management, including the chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securit…
There were no changes to our internal controls over financial reporting that occurred during the three months ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Other information
Text added vs the prior filing · source: 10-Q · 2026-07-29
On July 27, 2026, we amended our Ally Master Purchase and Sale Agreement to, among other things, increase the commitment by Ally to purchase up to $8.0 billion of principal balances of finance receivables between July 27, 2026 and July 26, 2027 on substantially similar terms as the preceding Ally MP…
On June 15, 2026, Gregory Sullivan, a member of the Company's board of directors, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (a "10b5-1 Plan"). Mr. Sullivan's 10b5-1 Plan provides for the potential sale of up to 142,140…
Also on June 15, 2026, Thomas Taira, the Company's President of Special Projects, modified his previously disclosed 10b5-1 Plan, entered into on July 31, 2025. Mr. Taira's amended 10b5-1 Plan provides for the potential sale of up to 200,000
shares of Class A common stock obtained from the exercise of vested stock options, as well as 100% of any net shares of Class A common stock received, after tax withholding, in connection with certain previously awarded RSUs that vest between July 1, 2026 and December 1, 2027, representing approxima…
Text removed vs the prior filing · source: 10-Q · 2026-04-29
On February 20, 2026, Ira Platt, a member of the Company's board of directors, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (a "10b5-1 Plan"). Mr. Platt's 10b5-1 Plan provides for the potential sale of up to 10,027 shares…
On February 27, 2026, Daniel Gill, the Company's Chief Product Officer, modified his previously disclosed 10b5-1 Plan, entered into on December 13, 2024. Mr. Gill's amended 10b5-1 Plan provides for the potential sale of up to 389,747 shares of Class A common stock, including shares obtained from the…
On March 11, 2026, Dan Quayle, a member of the Company's board of directors, entered into a 10b5-1 Plan that provides for the sale of up to 8,714 shares of Class A common stock, including shares obtained from the exercise of vested stock options, between the first potential sale date of June 10, 202…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice