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For the three months ended July 31, 2025, revenue, gross profit, and net income attributable to Copart, Inc. were $1.1 billion, $510 million, and $396 million, respectively. These represent an increase in revenue of $56.1 million, or 5.2%; an increase in gross profit of $56.1 million, or 12.4%; and an increase in net income attributable to Copart, Inc. of $73.8 million, or 22.9%, respectively, from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2025 was $0.41 compared to $0.33 last year, an increase of 24.2%.

For the year ended July 31, 2025, revenue, gross profit, and net income attributable to Copart, Inc. were $4.6 billion, $2.1 billion, and $1.6 billion, respectively. These represent an increase in revenue of $410.1 million, or 9.7%; an increase in gross profit of $192.4 million, or 10.1%; and an increase in net income attributable to Copart, Inc. of $189.4 million, or 13.9%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2025 was $1.59 compared to $1.40 last year, an increase of 13.6%.

Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart’s innovative technology and online auction platforms connect vehicle consignors to approximately 1 million members in over 185 countries. Copart offers a comprehensive suite of vehicle remarketing services to insurance companies, financial institutions, dealers, rental car companies, charities, fleet operators, and individuals, and offers vehicles via auction to dealers, dismantlers, rebuilders, exporters, and the general public. With operations at over 250 locations in 11 countries, Copart sold more than 4 million units in the last year. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/register.

This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management’s Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.

(Unaudited)


	Three Months Ended July 31,						Twelve Months Ended July 31,
	2025		2024		% Change		2025		2024		% Change
Service revenues and vehicle sales:
Service revenues	$	956,209	$	893,091	7.1	%	3,968,662		$	3,561,002	11.4	%
Vehicle sales	168,888		175,908		(4.0)	%	678,296		675,821		0.4	%
Total service revenues and vehicle sales	1,125,097		1,068,999		5.2	%	4,646,958		4,236,823		9.7	%
Operating expenses:
Yard operations	418,500		407,044		2.8	%	1,744,436		1,532,484		13.8	%
Cost of vehicle sales	147,398		161,891		(9.0)	%	602,997		619,487		(2.7)	%
Yard depreciation and amortization	47,172		44,539		5.9	%	191,775		170,650		12.4	%
Yard stock-based compensation	2,309		1,949		18.5	%	8,107		6,950		16.6	%
Gross profit	509,718		453,576		12.4	%	2,099,643		1,907,252		10.1	%
General and administrative	83,902		81,377		3.1	%	348,958		287,834		21.2	%
General and administrative depreciation and amortization	6,435		6,064		6.1	%	24,074		19,111		26.0	%
General and administrative stock-based compensation	6,790		6,591		3.0	%	29,897		28,284		5.7	%

Total operating expenses	712,506		709,455		0.4	%	2,950,244		2,664,800		10.7	%
Operating income	412,591		359,544		14.8	%	1,696,714		1,572,023		7.9	%
Other income (expense):
Interest income (expense), net	49,839		43,494		14.6	%	178,909		145,673		22.8	%

Other income (expense), net	15,978		5,389		196.5	%	19,958		(3,095)		(744.8)	%
Total other income	65,817		48,883		34.6	%	198,867		142,578		39.5	%
Income before income taxes	478,408		408,427		17.1	%	1,895,581		1,714,601		10.6	%
Income tax expense	83,100		86,249		(3.7)	%	347,218		352,254		(1.4)	%
Net income	395,308		322,178		22.7	%	1,548,363		1,362,347		13.7	%
Less: Net loss attributable to noncontrolling interest	(1,046)		(389)		168.9	%	(4,086)		(673)		507.1	%
Net income attributable to Copart, Inc.	$	396,354	$	322,567	22.9	%	$	1,552,449	$	1,363,020	13.9	%

Basic net income per common share	$	0.41	$	0.34	20.6	%	$	1.61	$	1.42	13.4	%
Weighted average common shares outstanding	967,100		962,515		0.5	%	965,306		960,739		0.5	%

Diluted net income per common share	$	0.41	$	0.33	24.2	%	$	1.59	$	1.40	13.6	%
Diluted weighted average common shares outstanding	977,778		976,500		0.1	%	977,563		974,798		0.3	%

(Unaudited)


	July 31, 2025		July 31, 2024
ASSETS
Current assets:
Cash, cash equivalents, and restricted cash	$	2,780,531	$	1,514,111
Investment in held to maturity securities	2,008,539		1,908,047
Accounts receivable, net	762,811		785,877
Vehicle pooling costs	116,145		132,638
Inventories	39,661		43,639
Income taxes receivable	580		—
Prepaid expenses and other assets	46,361		33,872
Total current assets	5,754,628		4,418,184
Property and equipment, net	3,598,093		3,175,838
Operating lease right-of-use assets	99,708		116,301
Intangibles, net	62,832		74,088
Goodwill	517,779		513,909
Other assets	57,862		129,444
Total assets	$	10,090,902	$	8,427,764

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	591,831		$	518,148
Deferred revenue	30,440		28,121
Income taxes payable	41,141		60,994
Current portion of operating and finance lease liabilities	19,869		21,304
Total current liabilities	683,281		628,567
Deferred income taxes	80,625		93,653
Income taxes payable	35,635		59,560
Operating and finance lease liabilities, net of current portion	83,870		97,429

Total liabilities	883,411		879,209
Commitments and contingencies
Redeemable non-controlling interest	20,458		24,544
Stockholders’ equity:
Preferred stock	—		—
Common stock	97		96
Additional paid-in capital	1,214,150		1,120,985
Accumulated other comprehensive loss	(120,283)		(142,972)
Retained earnings	8,093,069		6,545,902

Total stockholders’ equity	9,187,033		7,524,011
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$	10,090,902	$	8,427,764

(Unaudited)


	Year Ended July 31,
	2025		2024
Cash flows from operating activities:
Net Income	$	1,548,363	$	1,362,347
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including debt cost	217,784		190,256
Allowance for credit losses	354		3,914
Gain on extinguishment of liabilities	—		(4,058)
Equity in losses of unconsolidated affiliates	(149)		2,241
Stock-based compensation	38,004		35,234
Gain on sale of property and equipment	(13,726)		(2,386)

Deferred income taxes	(13,440)		(847)
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable	(33,950)		(145,385)
Vehicle pooling costs	16,705		(9,542)
Inventories	4,655		(3,698)
Prepaid expenses and other current and non-current assets	7,748		(71,067)
Operating lease right-of-use assets and lease liabilities	478		1,064
Accounts payable and accrued liabilities	69,599		59,528
Deferred revenue	2,159		1,867
Income taxes receivable	(575)		6,561
Income taxes payable	(44,259)		46,535

Net cash provided by operating activities	1,799,750		1,472,564

Cash flows from investing activities:
Purchases of property and equipment	(568,990)		(510,990)

Assets and liabilities acquired in connection with acquisition	(1,223)		17,662
Proceeds from sale of property and equipment	31,831		4,166
Investment in held to maturity securities	(4,001,918)		(4,087,162)


Proceeds from held to maturity securities	3,960,000		3,645,000
Acquisition of investment in unconsolidated affiliates	(7,148)		(8,755)
Net cash used in investing activities	(587,448)		(940,079)

Cash flows from financing activities:
Proceeds from the exercise of stock options	42,759		24,260
Proceeds from the issuance of Employee Stock Purchase Plan shares	14,679		12,406

Payments for employee stock-based tax withholdings	(5,282)		(6,558)



Principal payments on revolver facility	—		(10,821)


Payments of finance lease obligations	(49)		(14)

Net cash provided by financing activities	52,107		19,273
Effect of foreign currency translation	2,011		4,958
Net increase in cash, cash equivalents, and restricted cash	1,266,420		556,716
Cash, cash equivalents, and restricted cash at beginning of period	1,514,111		957,395
Cash, cash equivalents, and restricted cash at end of period	$	2,780,531	$	1,514,111

Supplemental disclosure of cash flow information:
Interest paid	$	2,019	$	3,127
Income taxes paid, net of refunds	$	409,003	$	285,891
Purchase of property and equipment through settlement of deposit	$	64,050	$	—


Contact:			Copart Investor Relations
			investor.relations@copart.com