Net income was $513 million, while adjusted EBITDA exceeded a $3 billion annualized run rate for the first time. Net income was $513 million, while adjusted EBITDA exceeded a $3 billion annualized run rate for the first time. Adjusted EBITDA margin decreased to 10.4% from 12.4%, although management cited approximately $300 per vehicle of underlying efficiency gains that partially offset these headwinds. Adjusted EBITDA margin decreased to 10.4% from 12.4%, although management cited approximately $300 per vehicle of underlying efficiency gains that partially offset these headwinds. Carvana Stock Down 11.3%Shares of CVNA stock traded down $7.51 on Thursday, hitting $58.80.