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Carma Limited ( (AU:CMA) ) just unveiled an update.
Carma Limited reported a sharp acceleration in its used-car operations for the March quarter, with total units sold jumping 118% year-on-year to 1,344 and revenue rising 94% to $28.7 million. The company is increasingly relying on its Sell-to Carma channel and trade-ins, which delivered 1,627 vehicle purchases, and it opened a new Newcastle site to expand its New South Wales footprint.
Improved reconditioning throughput lifted retail units reconditioned 146% and pushed gross profit per retail unit up 32% to $3,800, contributing to a 128% gain in total gross profit to $3.0 million. Despite posting a $12.5 million operating cash outflow as it built inventory and repaid bailment debt, Carma ended the quarter with $48.4 million in available funding, underscoring a strategy of investing liquidity into inventory growth to drive future sales across its retail and wholesale platforms.
The most recent analyst rating on (AU:CMA) stock is a Buy with a A$3.50 price target. To see the full list of analyst forecasts on Carma Limited stock, see the AU:CMA Stock Forecast page.
More about Carma Limited
Carma Limited is an Australian online used-car retailer focused on sourcing, reconditioning and selling vehicles through both retail and wholesale channels. The company leverages its Sell-to Carma offering and trade-ins to acquire inventory, supported by a growing physical network of locations across New South Wales aimed at improving accessibility and supply depth.
Average Trading Volume: 131,628
Technical Sentiment Signal: Strong Sell
See more data about CMA stock on TipRanks’ Stock Analysis page.