NASDAQ
19 days, 19 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Chief Accounting Officer Reports Routine Stock Disposition for Tax Purposes
America's Car-Mart's Chief Accounting Officer, Judy Vickie D., reported the disposition of 318 shares of common stock at $55.5 per share, primarily for tax purposes, as part of a pre-arranged Rule 10b5-1 plan.

NASDAQ
27 days, 21 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart CFO Jonathan Collins Boosts Stake with Common Stock Purchase
America's Car-Mart, Inc. Chief Financial Officer Jonathan M. Collins acquired 102 shares of the company's common stock, signaling management confidence.
Better than expected
 

NASDAQ
34 days, 8 hours ago 
CRMT
Americas Carmart INC
8-K: America's Car-Mart Reports Strong Q4 and Fiscal Year 2025 Results, Driven by Profitability Turnaround and Improved Credit Performance
America's Car-Mart, Inc. announced significantly improved financial results for the fourth quarter and full fiscal year ended April 30, 2025, highlighted by a return to profitability, enhanced gross margins, and better credit performance.
Better than expected
 
Capital raise
 

NASDAQ
34 days, 20 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director and 10% Owner Plans Significant Stock Sales in June 2025
Adam K. Peterson, a Director and 10% Owner of America's Car-Mart Inc. (CRMT), along with affiliated entities, has filed a Form 4 indicating planned sales of 154,269 shares of common stock in June 2025.
Worse than expected
 

NASDAQ
36 days, 21 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart CFO Awarded Significant Equity Compensation
America's Car-Mart, Inc. (CRMT) Chief Financial Officer Jonathan M. Collins received awards of restricted stock and stock options, aligning executive incentives with long-term shareholder value.

NASDAQ
42 days, 4 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Completes $216 Million Auto Loan Securitization, Securing Favorable Financing Terms
Americas Car-Mart, Inc. has successfully completed a $216 million asset-backed securitization, issuing Class A and Class B notes collateralized by auto loan receivables, which is expected to lower financing costs.
Better than expected
 
Capital raise
 

NASDAQ
49 days, 20 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Chief Accounting Officer Awarded Restricted Stock Grant
America's Car-Mart, Inc. (CRMT) Chief Accounting Officer, Judy Vickie D., was awarded 9,453 shares of restricted common stock, set to vest in three equal annual installments beginning May 22, 2026.

NASDAQ
64 days, 1 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Appoints Jonathan Collins as New CFO, Vickie Judy Transitions to Chief Accounting Officer
Americas Car-Mart announced the appointment of Jonathan Collins as Chief Financial Officer, effective May 12, 2025, succeeding Vickie Judy, who will become Chief Accounting Officer.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director, Jeffrey A. Williams, Reports Stock Award and 401(k) Acquisitions
Director Jeffrey A. Williams reports acquisition of restricted stock and shares through the employee stock purchase and 401(k) plans.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Acquires Stock Options
Director Joshua G. Welch acquired 13,775 stock options in America's Car-Mart, Inc. on May 1, 2025.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Dawn C. Morris Acquires Restricted Stock
Director Dawn C. Morris receives an award of 3,135 shares of restricted stock in America's Car-Mart, vesting on May 1, 2026, while disposing of 3,135 shares.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Acquires Stock Options
Director Daniel J. Englander acquires stock options in America's Car-Mart, Inc.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Julia K. Davis Reports Stock Award and Disposal
Director Julia K. Davis reports acquisition of restricted stock and disposal of common stock in America's Car-Mart, Inc.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Jonathan Z Buba Acquires Stock Options in Lieu of Cash Retainer
Director Jonathan Z Buba acquired stock options in America's Car-Mart in lieu of a cash retainer, according to a Form 4 filing.

NASDAQ
71 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Ann G. Bordelon Acquires Restricted Stock
Director Ann G. Bordelon acquired 3,135 shares of America's Car-Mart restricted stock on May 1, 2025, which will vest on May 1, 2026.

NASDAQ
125 days, 5 hours ago 
CRMT
Americas Carmart INC
8-K/A: Americas Car-Mart Reports Improved Q3 2025 Results Driven by Sales Volume and Margin Growth
Americas Car-Mart announced positive Q3 2025 results, with revenue up 8.7% and diluted earnings per share at $0.37, a significant improvement from the previous year's loss.
Better than expected
 

NASDAQ
125 days, 19 hours ago 
CRMT
Americas Carmart INC
SCHEDULE 13D/A: Nantahala Capital Management Boosts Stake in America's Car-Mart to 7.8%
Nantahala Capital Management, along with its principals, has increased its beneficial ownership in America's Car-Mart, Inc. to 7.8% through recent open market purchases.

NASDAQ
125 days, 20 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Jonathan Z. Buba Increases Indirect Holdings Through Nantahala Capital Management
Director Jonathan Z. Buba reports indirect acquisition of America's Car-Mart shares through Nantahala Capital Management, LLC.

NASDAQ
125 days, 20 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Joshua Welch Increases Stake Through Vicuna Capital I, LP
Director Joshua Welch, through Vicuna Capital I, LP, acquired 12,000 shares of America's Car-Mart (CRMT) common stock in multiple transactions on March 10, 2025.

NASDAQ
127 days, 23 hours ago 
CRMT
Americas Carmart INC
10-Q: Americas Car-Mart Reports Q3 2025 Results: Revenue Mixed Amidst Strategic Shifts
Americas Car-Mart's Q3 2025 results show a mixed performance with revenue fluctuations and strategic adjustments in inventory and credit management.
Capital raise
 

NASDAQ
128 days, 6 hours ago 
CRMT
Americas Carmart INC
8-K: America's Car-Mart Reports Strong Third Quarter Fiscal Year 2025 Results, Driven by Sales Volume and Margin Improvements
America's Car-Mart announces positive Q3 FY25 results with increased revenue, sales volumes, and improved gross margins, alongside strategic financial moves to enhance capital structure.
Better than expected
 

NASDAQ
132 days, 21 hours ago 
CRMT
Americas Carmart INC
8-K: America's Car-Mart Upsizes and Extends Revolving Credit Facility to $350 Million
America's Car-Mart extended and increased its asset-based revolving credit facility to $350 million, maturing on March 31, 2027.

NASDAQ
154 days, 0 hours ago 
CRMT
Americas Carmart INC
SCHEDULE 13G: FMR LLC and Abigail P. Johnson Disclose 5.4% Passive Stake in Americas Car Mart Inc.
FMR LLC and Abigail P. Johnson have disclosed a 5.4% beneficial ownership stake in Americas Car Mart Inc., held for passive investment purposes as of December 31, 2024.

NASDAQ
161 days, 1 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Completes $200 Million Securitization with Improved Coupon Rate
Americas Car-Mart finalized a $200 million securitization, achieving a 95 basis point improvement in the weighted average coupon rate compared to its previous transaction.
Better than expected
 

NASDAQ
166 days, 13 hours ago 
CRMT
Americas Carmart INC
SCHEDULE 13G: Vanguard Group Discloses 5.16% Passive Stake in America's Car-Mart
The Vanguard Group has reported a passive ownership stake of 5.16% in America's Car-Mart Inc/TX, holding 426,452 shares of common stock as of December 31, 2024.

NASDAQ
187 days, 0 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart COO Jamie Fischer Acquires Restricted Stock
America's Car-Mart Chief Operating Officer Jamie Fischer was granted 2,927 shares of restricted stock on December 31, 2024.

NASDAQ
218 days, 22 hours ago 
CRMT
Americas Carmart INC
10-Q: Americas Car-Mart Reports Mixed Q2 Results Amidst Strategic Shifts
Americas Car-Mart's second quarter results show a decrease in revenue due to lower unit sales, but improved gross margins and a strategic shift in service contract revenue recognition.
Better than expected
 
Capital raise
 

NASDAQ
223 days, 7 hours ago 
CRMT
Americas Carmart INC
8-K: America's Car-Mart Reports Mixed Q2 Results with Revenue Dip but Improved Profitability
America's Car-Mart experienced a slight revenue decrease in the second quarter of fiscal year 2025, but saw improvements in gross margin and earnings per share.
Better than expected
 
Capital raise
 

NASDAQ
266 days, 23 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Completes Share Offering, Raising Additional $5.6 Million
Americas Car-Mart has finalized the sale of additional shares, generating $5.6 million in net proceeds through the partial exercise of an underwriter's option.
Capital raise
 

NASDAQ
268 days, 0 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart COO Jamie Fischer Receives Stock Award
Jamie Fischer, Chief Operating Officer of America's Car-Mart, was granted 5,978 shares of restricted stock on October 18, 2024, which will vest in full on October 18, 2025.

NASDAQ
278 days, 7 hours ago 
CRMT
Americas Carmart INC
8-K: America's Car-Mart Finalizes $300 Million Securitization Deal, Achieves Lower Coupon Rates
America's Car-Mart successfully completed a $300 million term securitization, securing a weighted average coupon of 7.44% and improving upon previous rates.
Better than expected
 

NASDAQ
281 days, 21 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart CEO Douglas W. Campbell Jr. Reports Stock Disposals for Tax Obligations
Douglas W. Campbell Jr., President and CEO of America's Car-Mart, disposed of shares to cover tax obligations related to vesting restricted stock.

NASDAQ
286 days, 4 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Joshua G. Welch Reports Share Distribution
Director Joshua G. Welch reports a distribution of America's Car-Mart shares to a limited partner by Vicuna Capital I, LP.

NASDAQ
295 days, 7 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Appoints Jamie Fischer as Chief Operating Officer
Americas Car-Mart has announced the appointment of Jamie Fischer as its new Chief Operating Officer, effective October 7, 2024.

NASDAQ
295 days, 18 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Dawn C. Morris Increases Stake in Company
Director Dawn C. Morris recently purchased 116 shares of America's Car-Mart, Inc. at $43 per share, increasing her direct holdings in the company.

NASDAQ
295 days, 23 hours ago 
CRMT
Americas Carmart INC
Form 4: Magnolia Capital Fund Increases Stake in America's Car-Mart with $813,953 Purchase
Adam K. Peterson, through Magnolia Capital Fund, acquired 813,953 shares of America's Car-Mart at $43 per share, increasing their holdings to 1,582,363 shares.

NASDAQ
298 days, 19 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Acquires Shares in Public Offering
Director Joshua G. Welch reports acquisition of America's Car-Mart shares through Vicuna Capital I, LP in a recent public offering.

NASDAQ
298 days, 19 hours ago 
CRMT
Americas Carmart INC
Form 4: Director Buba's Firm Acquires Shares in America's Car-Mart Public Offering
Jonathan Z. Buba, a director of America's Car-Mart, indirectly acquired shares through Nantahala Capital Management, LLC in a recent public offering.

NASDAQ
298 days, 19 hours ago 
CRMT
Americas Carmart INC
Form 4: America's Car-Mart Director Ann G. Bordelon Increases Stake in Company
Director Ann G. Bordelon recently purchased 1,232 shares of America's Car-Mart at $43 per share, increasing her total holdings to 5,003 shares.

NASDAQ
298 days, 23 hours ago 
CRMT
Americas Carmart INC
8-K: Americas Car-Mart Announces $73.1 Million Public Offering of Common Stock
Americas Car-Mart has successfully priced a public offering of 1.7 million shares of common stock at $43.00 per share, with an option for underwriters to purchase an additional 255,000 shares.
Capital raise
 

CRMT 
Americas Carmart INC 
NASDAQ

8-K: America's Car-Mart Finalizes $300 Million Securitization Deal, Achieves Lower Coupon Rates

Sentiment:
 Securitization Announcement
 11 October 2024 8:30 AM

America's Car-Mart successfully completed a $300 million term securitization, securing a weighted average coupon of 7.44% and improving upon previous rates.

Better than expected
  The weighted average coupon rate of 7.44% is a 198 basis point improvement compared to the January 2024 transaction, indicating better terms for the company. 

Summary
  • America's Car-Mart completed a securitization transaction on October 9, 2024, issuing $300 million in asset-backed notes.
  • The transaction included $228.23 million of Class A Notes with a 6.06% coupon and $71.77 million of Class B Notes with a 9.21% coupon.
  • The weighted average coupon for the transaction was 7.44%, a 198 basis point improvement compared to a previous transaction in January 2024.
  • The notes are collateralized by $507.2 million of accounts receivables related to installment sale contracts.
  • Net proceeds from the offering were approximately $297.9 million, which will be used to pay outstanding debt and fund reserve accounts.
  • The Class A Notes are rated A (sf) and the Class B Notes are rated BBB (sf) by S&P Global Rating Agency.
  • The Class A Notes mature on February 20, 2029, and the Class B Notes mature on August 20, 2031.
Sentiment

Score: 8

Explanation: The document conveys a positive sentiment due to the successful completion of the securitization and the improved coupon rate. The transaction is presented as a positive step for the company's financial health.

Positives
  • The company secured a lower weighted average coupon of 7.44% compared to the 9.42% from the January 2024 transaction, indicating improved market conditions or investor confidence.
  • The securitization provides $297.9 million in net proceeds, which will be used to pay down debt and fund reserve accounts, strengthening the company's financial position.
  • The Class A Notes received an A (sf) rating and the Class B Notes received a BBB (sf) rating from S&P, reflecting a solid credit profile.
Risks
  • The notes are not obligations of or guaranteed by America's Car-Mart or any of its other affiliates or subsidiaries, meaning the Issuer is the sole obligor.
  • The notes are subject to events of default, including failure to make required payments or specified bankruptcy-related events, which could lead to acceleration of the debt.
  • The notes were sold in a private offering to Qualified Institutional Buyers, limiting the pool of potential investors.
Future Outlook

The document does not contain specific forward-looking statements beyond the details of the securitization transaction itself.

Management Comments
  • We are pleased with the successful completion of our second term securitization of 2024, with benchmark rate and spread improvements resulting in a 198 basis point improvement in the weighted average coupon compared to our January 2024 transaction, said Vickie Judy, Chief Financial Officer.
Industry Context

This securitization is a common financing method for auto lenders, allowing them to convert loan receivables into cash. The improved coupon rate suggests a favorable market reception for the company's debt.

Comparison to Industry Standards
  • The 7.44% weighted average coupon is a significant improvement over the 9.42% from the January 2024 transaction, indicating a positive shift in market conditions or investor perception of America's Car-Mart.
  • The advance rate of 59.15% is within the typical range for auto loan securitizations, but the specific rate depends on the credit quality of the underlying loans and the structure of the deal.
  • The A (sf) and BBB (sf) ratings for the Class A and Class B notes, respectively, are consistent with the ratings of similar asset-backed securities, reflecting the credit quality of the underlying receivables and the credit enhancement mechanisms in place.
  • Comparable companies such as Credit Acceptance Corporation and regional auto lenders also utilize securitization to fund their operations, and the terms of this deal are likely to be compared to their recent transactions.
Stakeholder Impact
  • Shareholders will benefit from the improved financial position of the company due to the debt reduction and funding of reserve accounts.
  • Creditors will be paid down with the net proceeds of the transaction.
  • Customers will not be directly impacted by this transaction.
Next Steps
  • The company will use the net proceeds to pay down outstanding debt and make initial deposits into collection and reserve accounts.
  • The Servicer will be responsible for servicing the receivables and will receive a monthly service fee.
  • The Issuer will pay interest and principal on the Notes monthly, starting on November 20, 2024.
Key Dates
  • 2024-10-09: Date of the securitization transaction and related agreements.
  • 2024-10-11: Date of the press release announcing the securitization transaction.
  • 2024-11-20: First payment date for interest and principal on the notes.
  • 2029-02-20: Maturity date for the Class A Notes.
  • 2031-08-20: Maturity date for the Class B Notes.
Keywords
securitization, asset-backed notes, auto loans, receivables, financing, debt, credit rating, fixed income, capital markets, structured finance

CRMT 
Americas Carmart INC 
NASDAQ
Sector: TBD
 
Filings with Classifications
Better than expected
18 June 2025 6:34 PM

Beneficial Ownership Statement
  • The purchase of company stock by a Chief Financial Officer is generally viewed as a positive signal, indicating management's belief that the stock is undervalued or that the company's future performance will be strong.
Capital raise
12 June 2025 7:30 AM

Quarterly and Annual Results
  • On May 29, 2025, Car-Mart completed a term securitization transaction involving the issuance of $216 million of asset-backed notes.
  • The securitization achieved an overall weighted average life adjusted coupon of 6.27%, which improved by 22 basis points compared to the Company's January 2025 issuance and by 117 basis points from the October 2024 securitization transaction.
  • Net proceeds from the securitization were used to pay down the outstanding balance on the Company's revolving line of credit.
  • The Company continues to explore options to diversify and expand its financing sources, such as potential warehouse lines of credit and the issuance of longer-term debt securities.
Better than expected
12 June 2025 7:30 AM

Quarterly and Annual Results
  • Diluted EPS for FY25 turned profitable at $2.33, compared to a significant loss of $4.92 in FY24, indicating a strong financial recovery.
  • Q4 FY25 diluted EPS significantly increased to $1.26 from $0.06 in Q4 FY24, demonstrating strong quarterly performance.
  • Gross margin percentage improved by 200 basis points for the full year and 90 basis points for Q4, reflecting effective cost and pricing strategies.
  • Net charge-offs as a percentage of average finance receivables improved for both Q4 and the full year, signaling better credit quality and risk management.
  • The allowance for credit losses improved to 23.25% at April 30, 2025, from 25.32% a year prior, indicating a healthier loan portfolio.
Worse than expected
11 June 2025 7:14 PM

Insider Transaction Report
  • The document details planned significant sales of common stock by a Director and 10% owner, Adam K. Peterson, and his affiliated entities.
  • A total of 154,269 shares are planned to be sold, representing approximately 9.75% of their prior beneficial ownership.
  • Such a substantial planned reduction in holdings by a key insider is generally perceived as a negative signal by the market.
Better than expected
4 June 2025 11:21 AM

Securitization Announcement
  • The weighted average coupon of 6.27% is lower than previous issuances (22 basis points better than January 2025 and 107 basis points better than October 2024), indicating more favorable financing terms for the Company.
Capital raise
4 June 2025 11:21 AM

Securitization Announcement
  • The Company completed a term securitization transaction, issuing $216 million in principal amount of asset-backed notes.
  • Net proceeds of approximately $214.5 million were generated from the offering.
  • The proceeds are being used to pay outstanding debt and make initial deposits into collection and reserve accounts.
Better than expected
13 March 2025 10:22 AM

Quarterly Report
  • The company reported diluted earnings per share of $0.37 compared to a loss per share of $1.34 in the same quarter last year.
  • Gross margin percentage improved by 150 basis points to 35.7%.
  • Net charge-offs as a percentage of average finance receivables improved to 6.1% compared to 6.8%.
Capital raise
10 March 2025 4:08 PM

Quarterly Report
  • On September 20, 2024, the Company completed an underwritten public offering of 1,700,000 shares of its common stock at a price per share of $43.00.
  • The net proceeds of the public offering were approximately $68.2 million after deducting the underwriting discount and offering costs of approximately $4.9 million.
  • On October 22, 2024, the Company completed the sale of an additional 138,272 shares of common stock at a price of $43.00 per share, in connection with a partial exercise by the underwriter of an option.
  • The net proceeds to the Company of the underwriters partial exercise of the Over-Allotment Option were approximately $5.6 million after deducting the underwriting discount and offering costs of approximately $346,000.
  • The Company used the net proceeds from this offering to pay down a portion of the Companys revolving line of credit.
Better than expected
10 March 2025 9:00 AM

Quarterly Report
  • The company reported an 8.7% increase in total revenue, reaching $325.7 million for the third quarter of fiscal year 2025.
  • Sales volumes rose by 13.2% to 13,198 units, indicating strong sales performance.
  • The company's gross margin percentage improved by 150 basis points to 35.7%, driven by better vehicle procurement and disposal strategies.
  • Diluted earnings per share were $0.37, a significant improvement compared to a loss of $1.34 per share in the same quarter of the previous year.
Better than expected
5 February 2025 1:46 PM

Securitization Announcement
  • The weighted average coupon improved by 95 basis points compared to the October 2024 securitization.
Capital raise
9 December 2024 4:40 PM

Quarterly Report
  • The company completed a public offering of 1,700,000 shares of its common stock at a price of $43.00 per share, raising net proceeds of $68.2 million.
  • The company also sold an additional 138,272 shares through the partial exercise of an over-allotment option, raising an additional $5.6 million.
  • The net proceeds from the offering were used to pay down a portion of the company's revolving line of credit.
Better than expected
9 December 2024 4:40 PM

Quarterly Report
  • The company's net income of $5.1 million is a significant improvement compared to a net loss of $27.5 million in the same quarter of the previous year.
  • The company's gross margin improved to 39.4% of sales, including a 2.9% benefit from a change in service contract revenue recognition.
  • The provision for credit losses decreased by 26.5% to $99.5 million.
Capital raise
5 December 2024 7:30 AM

Quarterly Report
  • The company completed an underwritten public equity offering, resulting in net proceeds of $73.8 million.
  • The company also completed a private asset-backed securitization offering, resulting in net proceeds of $297.9 million.
  • The proceeds from these offerings were primarily used to pay down existing debt.
Better than expected
5 December 2024 7:30 AM

Quarterly Report
  • The company reported a significant improvement in diluted earnings per share, moving from a loss to a profit.
  • Gross margin improved, both including and excluding the impact of the service contract accounting change.
  • Net charge-offs as a percentage of average finance receivables decreased, indicating better loan performance.
Capital raise
22 October 2024 4:06 PM

Capital Raise Update
  • The company initially sold 1,700,000 shares at $43.00 per share, generating $67.8 million in net proceeds.
  • The underwriters partially exercised their over-allotment option, purchasing 138,272 additional shares at $43.00 per share, resulting in an additional $5.6 million in net proceeds.
Better than expected
11 October 2024 8:30 AM

Securitization Announcement
  • The weighted average coupon rate of 7.44% is a 198 basis point improvement compared to the January 2024 transaction, indicating better terms for the company.
Capital raise
20 September 2024 4:05 PM

Public Offering Announcement
  • The company is raising capital through a public offering of 1,700,000 shares of common stock.
  • The underwriters have an option to purchase an additional 255,000 shares.
  • The company expects to receive approximately $67.8 million in net proceeds from the offering.
Capital raise
18 September 2024 2:22 PM

Loan Agreement Amendment
  • The company is required to complete a junior capital raise of $50 million or more.
  • The net proceeds of the capital raise must be used to pay down the outstanding principal balance of the line of credit.
  • A fee of 0.10% of the total permitted borrowings will be charged if the capital raise is not completed by October 31, 2024.
Worse than expected
18 September 2024 2:22 PM

Loan Agreement Amendment
  • The reduction in the credit line and the imposition of minimum availability requirements suggest a tightening of financial conditions for the company.
  • The requirement to complete a capital raise by a specific date to avoid a fee indicates potential financial pressure.
Worse than expected
16 September 2024 12:11 PM

Quarterly Report
  • The company's net loss of $964,000 is worse than the net income of $4.2 million in the same period last year.
  • The decrease in revenue by 5.2% is worse than the prior year period.
  • The increase in the provision for credit losses as a percentage of sales to 33.2% is worse than the 31.0% in the prior year period.
Capital raise
16 September 2024 12:11 PM

Quarterly Report
  • The amendment to the revolving credit agreement requires the company to use the net proceeds of any junior capital raise of $50 million or more to pay down the outstanding principal balance of the line of credit.
  • The company will pay a fee to the lenders of 0.10% of the total permitted borrowings under the line of credit if the company has not completed such a capital raise by October 31, 2024.
Worse than expected
4 September 2024 7:30 AM

Quarterly Report
  • The company reported a net loss per share of $0.15 compared to a diluted earnings per share of $0.63 in the same quarter last year.
  • Revenue decreased by 5.2% year-over-year.
  • Net charge-offs as a percentage of average finance receivables increased to 6.4% from 5.8%.
Worse than expected
16 July 2024 4:29 PM

Proxy Statement
  • The company reported a net loss of $31.4 million compared to the prior year's net income.
  • Revenues decreased 0.5% over fiscal 2023, driven by a 8.8% retail unit volume decrease and a 0.1% decrease in customer count.
Worse than expected
15 July 2024 4:01 PM

Annual Results
  • The company's net income decreased from a profit of $20.4 million to a loss of $31.4 million.
  • The provision for credit losses increased significantly to 36.5% of sales.
  • Retail unit sales decreased by 8.8%.
Worse than expected
18 June 2024 7:30 AM

Quarterly Report
  • The company reported a loss per share for the full year, compared to a profit in the previous year.
  • Revenue decreased both for the quarter and the full year.
  • Net charge-offs as a percentage of average finance receivables increased.
  • Interest expense increased significantly.
Worse than expected
11 March 2024 9:00 AM

Quarterly Report
  • The company reported a net loss of $8.5 million for the quarter, compared to a net income of $1.5 million in the same period last year.
  • Total revenue decreased by 7.9% year-over-year, driven by a decline in retail unit sales.
  • The provision for credit losses increased to 37.3% of sales, up from 31.2% in the prior year's quarter.
Worse than expected
8 March 2024 8:00 AM

Quarterly Report
  • The company reported a loss per share of $1.34 compared to earnings per share of $0.23 in the same quarter last year.
  • Total revenue decreased by 7.9% year-over-year.
  • Retail units sold decreased by 19.6% compared to the prior year quarter.
Worse than expected
5 March 2024 4:04 PM

Loan Agreement Amendment
  • The reduction in the total borrowing capacity from $600 million to $340 million is a negative development.
  • The increase in the unused line fee rate to 0.50% for low utilization is a negative development.
  • The removal of pricing tiers for interest rates may result in higher borrowing costs.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.