For Immediate Release

Copart Reports Fourth Quarter Fiscal 2025 Financial Results

Dallas, Texas. (September 4, 2025) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2025.

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%.

On Thursday, September 4, 2025, at 5:30 p.m. Eastern Time (4:30 p.m. Central Time), Copart, will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed at www.copart.com/investorrelations. A replay of the call will be available through November 2025 by visiting www.copart.com/investorrelations.

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.

(In thousands, except per share amounts)

(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					$	—