Company utilized the incurred loss methodology, by applying a trailing twelve-month net charge-off as a percentage of average finance receivables to the ending finance receivables to estimate probable credit losses and maintain an allowance for credit losses. The net charge-off percentage, which represents charge-offs less recoveries divided by average finance receivables outstanding during the period, decreased to 23.9% from 30.9% for the three months ended March 31, 2024 and 2023, respectively. The custom ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FOR THE TRANSITION PERIOD FROM TO . Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other Jurisd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 0-26680 Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 NICHOLAS FINANCIAL, INC. (Exact name of Registrant as specified in its Charter) British Columbia, Canada 59-2506879 ( State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other Ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other Jurisd ...

Financial Performance - Consolidated net income for the year ended March 31, 2022, was $3.0 million, down from $8.4 million for the year ended March 31, 2021[83]. - The average dealer discount on contracts purchased for the fiscal years ended March 31, 2022, and 2021, was 6.9% and 7.5%, respectively[91]. - The average APR on contracts purchased for the fiscal years ended March 31, 2022, and 2021, was 23.1% and 23.4%, respectively[91]. - As of March 31, 2022, the aggregate outstanding indebtedness under the Credit Facility was $55.0 million, compared to $88.3 million under the predecessor facility as of March 31, 2021[98]. - The company obtained a PPP loan of $3,243,900, which was fully repaid on May 23, 2022, along with accrued interest of $64,518[102]. Economic and Competitive Environment - The company may experience materially adverse impacts due to the economic effects of COVID-19, including funding availability and potential future recessions[80]. - The company has faced increasing pressure to reduce interest rates, fees, and dealer discounts due to competition in the non-prime consumer-finance industry[91]. - Economic conditions significantly impact the company's business, particularly affecting delinquencies, defaults, and losses among non-prime borrowers[113]. - The company faces increased competition in a low interest-rate environment, which pressures it to reduce interest rates and fees[114]. - Auction proceeds from repossessed vehicles are often insufficient to cover outstanding contract balances, leading to potential financial losses[115]. Management and Governance - The resignation of the President and CEO on May 9, 2022, may have a material adverse effect on the company's business[107]. - The company appointed a new Interim CEO on May 9, 2022, who has over 20 years of experience with the company[109]. - The company is subject to various consumer claims and litigation, which could result in substantial damages and penalties[110]. - The company relies heavily on relationships with dealers for contract origination, and there are no assurances that these relationships will remain strong[112]. Regulatory and Compliance Issues - Regulatory changes, particularly from the CFPB, could materially affect the company's operations and financial performance[123]. - The company maintains compliance with various federal, state, and local regulations, but any violations could have a material adverse effect on its financial condition[130]. Operational Risks - The company depends on third-party service providers for critical operations, and failures by these providers could adversely affect its business[118]. - The company's growth strategy includes opening new offices, which depends on attracting qualified personnel[119]. - The company has not recently entered into new interest rate swap agreements to mitigate the impact of interest rate changes on its interest expense[106]. Internal Controls and Cybersecurity - The company has remediated two material weaknesses in internal control over financial reporting identified in the fiscal year ended March 31, 2021[142]. - The existence of any material weakness in internal control could lead to errors in financial statements, requiring restatements and potentially affecting investor confidence[144]. - The company has not experienced any material cybersecurity incidents to date, but future incidents could have a material adverse effect on its business and financial condition[135]. - The company relies on third-party encryption and authentication technology, which may be vulnerable to breaches, potentially compromising customer data[135]. - The company may need to invest significantly in cybersecurity to address vulnerabilities, which could impact its financial resources[134]. Market Position and Investor Relations - The average daily trading volume of the company's common shares on NASDAQ for the fiscal year ended March 31, 2022, was approximately 9,100 shares, indicating it is a thinly traded stock[136]. - The company is classified as a "smaller reporting company," which allows it to provide reduced financial disclosures, potentially making its stock less attractive to investors[140]. - The company may face challenges in attracting analysts to cover its stock, which could negatively impact stock price and trading volume[137]. - The company's Articles may deter third parties from acquiring it, which could diminish the value of its common stock[139]. - The company may experience difficulties in keeping pace with technological developments, which could affect its competitive position in the market[146].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 0-26680 NICHOLAS FINANCIAL, INC. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 59-2506879 (State or Other Ju ...