Copart Inc. reported that for the three months ended October 31, 2025, service revenues represented 86.0% and vehicle sales accounted for 14.0% of total service revenues and vehicle sales, unchanged from the same period in 2024. Facility operations expenses were 41.0% and cost of vehicle sales were 12.0%, while general and administrative expenses were 9.0%, resulting in total operating expenses of 62.0% of total service revenues and vehicle sales, down from 64.0% in 2024. Operating income was 38.0%, up from 36.0% in the prior year period. As of October 31, 2025, Copart had no outstanding borrowings under its Revolving Loan Facility and remained in compliance with all related covenants. The company continues to evaluate the use of cash flows for stock repurchases, acquisitions, and potential dividend payments. The business remained subject to seasonality, with higher vehicle volumes processed during winter months.