NASDAQ
19 days, 18 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, 20 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, 19 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.
CRMT 
Americas Carmart INC 
NASDAQ

8-K: Americas Car-Mart Completes $216 Million Auto Loan Securitization, Securing Favorable Financing Terms

Sentiment:
 Securitization Announcement
 4 June 2025 11:21 AM

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
  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
  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. 

Summary
  • Americas Car-Mart, Inc. (CRMT) completed a term securitization transaction on May 29, 2025, involving the issuance and sale of $216 million in principal amount of asset-backed notes.
  • The notes were issued by ACM Auto Trust 2025-2, an indirect subsidiary of the Company, and are collateralized by $363.0 million of accounts receivable from installment sale contracts.
  • The issuance included $165.18 million of Class A Notes with a 5.55% coupon rate and $50.82 million of Class B Notes with a 7.25% coupon rate, resulting in an overall weighted average coupon of 6.27%.
  • Net proceeds from the offering, approximately $214.5 million after deducting underwriting discounts and other expenses, will be used to pay outstanding debt and fund initial deposits into collection and reserve accounts.
  • S&P Global Ratings assigned ratings of A(sf) to the Class A Notes and BBB(sf) to the Class B Notes.
  • The transaction involved Colonial Auto Finance, Inc. (Seller) conveying receivables to ACM Funding, LLC (Depositor), which then sold them to the Issuer, with Americas Car Mart, Inc. acting as Servicer.
  • Credit enhancement for the Notes includes over-collateralization, a reserve account initially funded with 2.50% of the pool balance ($9,075,710.99), excess interest on receivables, and subordination of less senior note classes.
  • The Servicer will receive a monthly service fee equal to 4.00% (annualized) based on the outstanding principal balance of the Receivables.
Sentiment

Score: 8

Explanation: The document conveys a highly positive sentiment, emphasizing the successful completion of the securitization, improved pricing compared to prior issuances, strong market demand, and the strategic benefits of lowering financing costs and strengthening capital efficiency. There are no explicit negatives or delays mentioned.

Positives
  • The securitization achieved an improved weighted average coupon of 6.27%, which is 22 basis points lower than the January 2025 issuance and 107 basis points lower than the October 2024 issuance, indicating favorable pricing.
  • Management noted strong demand and growing market confidence in the Company's portfolio, contributing to lower financing costs and strengthened capital efficiency.
  • The transaction provides significant liquidity, with net proceeds of approximately $214.5 million, which will be used to pay down existing debt and fund reserve accounts.
Negatives
  • The document does not explicitly state any negative outcomes or challenges related to the securitization transaction itself, focusing on its successful completion and favorable terms.
Risks
  • The notes are obligations solely of the Issuer and are not obligations of or guaranteed by Americas Car-Mart, Inc. or its other affiliates or subsidiaries, limiting recourse for noteholders.
  • Events of default under the Indenture include failure to make required payments on the Notes, specified bankruptcy-related events concerning the Issuer, or material breaches of covenants or representations by the Issuer or Servicer.
  • The Servicer's ability to grant extensions, rebates, deferrals, amendments, modifications, or adjustments to receivables in accordance with its Customary Servicing Practices could potentially impact the aggregate amount or timing of payments on the Receivables.
  • The Servicer is not required to maintain a fidelity bond or errors and omissions policy, which could expose the Issuer to certain risks in case of servicer misconduct or errors.
  • The Indenture Trustee is not liable for any loss or damage, or any failure or delay in performance, if prevented by force majeure events, including strikes, acts of war, natural catastrophes, or utility malfunctions.
Future Outlook

The Company expects the securitization to contribute to lowering its financing costs and strengthening its capital efficiency, reflecting management's positive outlook on the transaction's impact.

Management Comments
  • Douglas Campbell, Chief Executive Officer, stated: "I am very pleased with the outcome on our seventh ABS transaction. We continue to see strong demand and improved pricing for our securitizations, which reflects growing market confidence in our portfolio."
  • Jonathan Collins, Chief Financial Officer, commented: "Our work here continues to lower our financing costs and strengthen our capital efficiency."
Industry Context

This securitization represents a common financing strategy in the auto loan industry, allowing companies to monetize their loan portfolios and access capital markets. The improved pricing achieved by Americas Car-Mart suggests a favorable market environment for asset-backed securities, potentially driven by investor demand for yield and confidence in the underlying auto loan sector, or specific confidence in Americas Car-Mart's portfolio performance.

Comparison to Industry Standards
  • The weighted average coupon of 6.27% improved by 22 basis points compared to Americas Car-Mart's January 2025 issuance, and by 107 basis points from its October 2024 issuance, indicating a positive trend in the Company's cost of funds for securitized debt.
  • The ratings of A(sf) for Class A Notes and BBB(sf) for Class B Notes from S&P Global Ratings are indicative of investment-grade credit quality for these asset-backed notes, aligning with typical ratings for similar auto loan securitizations from established issuers in the market.
Stakeholder Impact
  • **Shareholders**: Potential positive impact due to lower financing costs and improved capital efficiency, which could enhance profitability and financial stability.
  • **Noteholders**: Provided with a secured investment in auto loan receivables, with credit enhancement features like over-collateralization and a reserve account, and investment-grade ratings from S&P.
  • **Customers (Obligors)**: Their installment sale contracts are the underlying collateral; servicing will continue under Americas Car-Mart, Inc.'s customary practices.
  • **Creditors**: Existing debt is being paid down with the proceeds, potentially improving the Company's overall debt profile.
Next Steps
  • Monthly payments of principal and interest on the notes will commence on June 20, 2025.
  • The Servicer will continue to manage, service, administer, and collect on the Receivables in accordance with its Customary Servicing Practices.
  • The Servicer will deliver monthly data files to the Calculation Agent and Backup Servicer on or before each Determination Date.
  • The Calculation Agent will provide monthly Investor Reports to the Indenture Trustee for distribution to Noteholders and Certificateholders.
Related Party Transactions
  • Colonial Auto Finance, Inc., a wholly-owned subsidiary of Americas Car-Mart, Inc., sold customer receivable contracts to ACM Funding, LLC, an indirect wholly-owned subsidiary of the Company.
  • ACM Funding, LLC then sold these receivables to ACM Auto Trust 2025-2, an indirect subsidiary of the Company, which issued the notes.
  • Americas Car Mart, Inc. (the parent company) acts as the Servicer and Administrator for the securitized receivables.
  • The Indenture Trustee, Paying Agent, and Calculation Agent (Deutsche Bank National Trust Company) and the Owner Trustee (BNY Mellon Trust of Delaware) are independent third parties, but their roles are defined within the framework of agreements between the related parties.
Key Dates
  • 2025-04-30: Cut-Off Date for the pool of receivables collateralizing the notes.
  • 2025-05-20: Date of the Offering Memorandum and Note Purchase Agreement.
  • 2025-05-29: Closing Date of the securitization transaction; Indenture, Purchase Agreement, and Sale and Servicing Agreement dated as of this date.
  • 2025-05-30: Date of the press release announcing the securitization transaction.
  • 2025-06-03: Date the Form 8-K report was signed.
  • 2025-06-12: First Determination Date for calculating payment amounts.
  • 2025-06-17: First Investor Reporting Date for providing statements to noteholders and certificateholders.
  • 2025-06-20: First Payment Date for interest and principal on the notes.
  • 2028-06-20: Final Scheduled Payment Date for the Class A Notes.
  • 2031-06-30: Latest final scheduled payment due date for any receivable in the pool.
  • 2032-02-20: Final Scheduled Payment Date for the Class B Notes.
Keywords
Securitization, Asset-Backed Notes, Auto Loans, Receivables, Debt Financing, Capital Markets, Credit Enhancement, Americas Car-Mart, Financial Services, Fixed Income
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.
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
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.
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.
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.
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
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.