Carma (CMA) Q1 2027 TU earnings summary

Executive summary

• Record 2,100 units sold, up 105% YoY; revenue reached $44.3m, up 88%, and gross profit was $3.5m, up 57%.

• Retail sales and reconditioning reached quarterly records; management said the business was well placed for the rest of FY2027.

Financial highlights

• Revenue was a record $44.3m, up 88% YoY; gross profit was a record $3.5m, up 57% YoY, driven by higher retail unit sales.

• Net cash used in operating activities was $10.2m; excluding $1.4m of inventory investment and $1.7m in payroll and superannuation timing differences, outflow was $7.2m.

Outlook and guidance

• Nine Sell-to-Carma centres have capacity to support further vehicle purchasing growth; Apollo operational improvements target a step change in unit economics.

• Management said it was well placed for the remainder of FY2027 as proprietary systems and AI tools are rolled out to improve efficiency and reduce third-party system costs.