INTERIM FINANCIAL STATEMENTS |
6 Months Ended |
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Jun. 30, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| INTERIM FINANCIAL STATEMENTS | INTERIM FINANCIAL STATEMENTS Basis of Presentation These Consolidated Financial Statements contain unaudited information as of June 30, 2026, and for the three and six months ended June 30, 2026 and 2025. The unaudited interim financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by accounting principles generally accepted in the United States of America for annual financial statements are not included herein. In management’s opinion, these unaudited financial statements reflect all adjustments (which include only normal recurring adjustments) necessary for a fair presentation of the information when read in conjunction with our 2025 audited Consolidated Financial Statements and the related notes thereto. The financial information as of December 31, 2025, is derived from our Annual Report on Form 10-K filed with the SEC on February 25, 2026. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying Consolidated Financial Statements to maintain consistency and comparability between periods presented. Within our Consolidated Statements of Operations, we combined used wholesale revenue with used retail revenue and now present these revenues collectively as used vehicle revenue. In addition, we combined fleet revenue with new retail revenue and now present these revenues collectively as new vehicle revenue. These changes were made to better reflect how management evaluates our revenue performance and to improve comparability with industry practice. The reclassifications had no impact on total revenue, gross profit, operating income, net income, or cash flows for any period presented.
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