Copart, Inc. is a multi-segment online vehicle auction and remarketing company that provides vehicle sales, facility operations, and membership-based services to buyers and sellers worldwide.

# Company

## Nature of the business
- The document is organized as a Part I, Item 1 (Business) section with multiple subsections, indicating a multi‑faceted company that follows formal governance and public reporting requirements.
- A Mine Safety Disclosure is included, which indicates operations in mining or mineral resources and attention to industry safety and regulatory compliance.

## Core activities and offerings
- Sections such as Industry Overview, Operating and Growth Strategy, and Our Competitive Advantages indicate a growth‑oriented company with a defined market position.
- Our Business Segments and Our Service Offerings point to a diversified, multi‑segment model delivering multiple products or services.
- Sales and Memberships/Members imply revenue generation tied to customers or members, potentially across distinct product lines or services.
- Management Information Systems highlights reliance on data and IT infrastructure to support operations, decision making, and reporting.
- Environmental Matters and Governmental Regulations reflect ongoing environmental responsibilities and regulatory compliance.
- Intellectual Property and Proprietary Rights indicate reliance on IP assets and protections.
- A Seasonality item suggests the business experiences seasonal variations in demand or operations.

## Competitive and market context
- Competition and Our Competitive Advantages signal an active competitive landscape and plans or characteristics used to differentiate the company.
- The Industry Overview situates the company within a broader industry context.

## People and governance
- Employees and Human Capital emphasizes workforce management, talent development, and related governance considerations.
- Risk Factors and Item 1C (Cybersecurity) show that risk management and data security are material governance topics.

## Risks, compliance, and governance
- Risk Factors and Cybersecurity sections cover the company’s exposure to various risks, including cyber risk.
- Properties, Legal Proceedings, and Mine Safety Disclosure address tangible assets, potential liabilities, legal matters, and sector‑specific safety obligations.

## Operational and regulatory environment
- Environmental Matters and Governmental Regulations describe ongoing interactions with environmental and governmental regimes, including permitting, compliance, and reporting obligations.

Copart, Inc. is a leading global provider of online auctions and vehicle remarketing services, primarily focusing on the sale of salvage vehicles through its Virtual Bidding platform.

# Company Overview: Copart, Inc.

**Business Model**  
Copart, Inc. is a leading global provider of online auctions and vehicle remarketing services, primarily focused on the sale of salvage vehicles. The company operates a virtual auction platform known as Virtual Bidding Third Generation (VB3), which enables vehicle sellers and buyers to transact online. The primary sellers include insurance companies, dealers, individuals, charities, rental companies, and financial institutions. Buyers include licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers, exporters, and the general public.

## Key Metrics

- **Incorporation:** Founded in 1982 in California, public since 1994, and reincorporated in Delaware in January 2012.
- **Headquarters:** 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254.
- **Global Presence:** Operations in the U.S., U.K., Germany, Brazil, Canada, U.A.E., Spain, Finland, Oman, Republic of Ireland, and Bahrain.

## Financial Performance

- **Revenue for FY 2024:** $4.2 billion.
- **Operating Income for FY 2024:** $1.6 billion.

## Customer and Employee Base

- **Customers:** Approximately 1 million registered members (buyers), including those from various industries such as vehicle dismantling, rebuilding, and exports, as well as the general public.
- **Employees:** Approximately 11,700 full and part-time employees as of July 31, 2024, with around 65% based in the U.S. and 35% in international markets.

## Services Offered

1. **Auction Services:**
   - Online vehicle auctions through the VB3 platform.
   - Initial bidding via a two-step process, allowing preliminary bids and real-time virtual auctions.
   - Comprehensive auction-related services such as vehicle purchasing, listing, and selling fees.

2. **Support Services:**
   - **Transportation:** Timely vehicle pickup and delivery through an in-house fleet and third-party services.
   - **Title Processing:** Expertise in DMV document and title processing, aimed at expediting vehicle sales.
   - **End-of-Life Vehicle Processing:** De-pollution and disposal services for end-of-life vehicles, particularly in the U.K.

3. **Value-Added Services:**
   - Online seller access via Copart Access to view sales performance and vehicle history.
   - Real-time data availability through on-demand reporting to facilitate vehicle disposition analysis.

4. **Mobile Enhancements:**
   - Mobile applications for bidders to search, engage, and bid on vehicles.
   - Features such as predictive analytics, "Buy It Now," and "Make An Offer" pricing options.

## Growth and Expansion Strategy

1. **Facility Development and Acquisitions:** Continued expansion through new operational facilities and strategic acquisitions in key markets.
2. **Diversification of Offerings:** Enhanced range of services aimed at maximizing sales prices and returns for sellers and buyers.

## Environmental and Community Engagement

- Committed to environmental stewardship by promoting the re-use and recycling of vehicles, parts, and raw materials to reduce carbon footprints.
- Contributes to economic development and disaster recovery efforts by providing affordable mobility through vehicle sales.

Overall, Copart, Inc. is a significant player in the vehicle remarketing industry, leveraging technology to enhance vehicle sales processes and maintaining a strong market position through expansion, innovation, and community engagement.

COPART INC

10-K / September 29, 2026

10-K / September 30, 2024

10-K / September 29, 2026

Company

Nature of the business

Core activities and offerings

Competitive and market context

People and governance

Risks, compliance, and governance

Operational and regulatory environment