Financial Data and Key Metrics Changes - The company reported a positive trend in delinquency rates, with early-stage delinquency declining month over month, although later-stage delinquency is expected to result in elevated charge-offs in the next quarter [7] - The book-to-look ratio increased slightly to around 25%, up from a low of 20% in the previous quarter, compared to approximately 35% in the same quarter of fiscal years 2021 and 2022 [8] - New customer originations in the third quarter showed a 30%-plus reduction in first-pay default rates compared to the same quarter of fiscal year 2022, indicating strong credit performance [9] Business Line Data and Key Metrics Changes - New customer originations accounted for 55% of comparable December volumes in fiscal years 2019 and 2020, up from 31% in the third quarter of 2022 [12] - Gross yields for new customer originations in the third quarter were over 25% higher year-over-year, while first-pay default rates showed a significant reduction [10] Market Data and Key Metrics Changes - The company has successfully reduced exposure to high-risk customers, leading to improved credit performance during fiscal year 2023 [7] - The risk in the portfolio is expected to be lower as there has been less investment in new customers, contributing to a decrease in the allowance ratio from 13.5% to 12.9% [18] Company Strategy and Development Direction - The company plans to increase investments in marketing and new customer acquisition during the fourth quarter and into the next fiscal year, leveraging improved credit performance [12] - The management expressed confidence in the ability to grow while maintaining low delinquency and high gross yields, indicating a strategic focus on quality over quantity in customer acquisition [11][32] Management's Comments on Operating Environment and Future Outlook - Management noted that while elevated charge-offs are expected in Q4 relative to historical levels, they anticipate a positive trend in delinquency and charge-offs moving forward [28] - The company is optimistic about generating significant cash flow in the upcoming operating environment, particularly in fiscal 2024 [36] Other Important Information - The company amended its credit facility during the quarter and has ample room on all covenants, with no waivers as of the quarter end [24] Q&A Session Summary Question: Is the $7 million incentive change a reversal? - Yes, it is in personnel expense, with part being a reversal related to officers who left the company and a shift from bonus to base pay [14] Question: What is the expected run rate for personnel expenses going forward? - The reversal will not be present next quarter, and the expected personnel expense is around $45 million [16] Question: Why did the allowance ratio decrease? - The decrease is attributed to seasonal factors and a shift in lower tenured customers, which carry a higher expected loss rate [18] Question: What is the outlook for loan portfolio growth next quarter? - The company expects typical runoff during tax season and does not anticipate significant growth in new customer investments in Q4 [22] Question: What is the status of covenants and refinancing plans? - The company has ample room on all covenants and plans to extend the credit facility in the coming summer [24] Question: How will improvements in first-pay defaults impact delinquencies and losses? - The company expects charge-offs to decrease in the coming months, with positive trends indicating a better delinquency picture by March [26][28] Question: What is the strategy for acquiring new customers going forward? - The company plans to increase marketing investments while ensuring that new customer applications are likely to be approved, focusing on quality [32]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________ Form 10-Q __________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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: 000-19599 WORLD ACCEPTANCE ...

Financial Data and Key Metrics Changes - The company has made underwriting adjustments to protect its $1.6 billion portfolio in response to economic uncertainty, particularly due to inflation and potential recession risks [6][7] - There was a substantial decrease in new customer originations in Q2 2023, aligning more with fiscal year 2021 levels rather than the high growth seen in fiscal year 2022 [8] - The gross yield on new customer originations has increased significantly throughout Q2 2023 and is expected to remain elevated [11][13] Business Line Data and Key Metrics Changes - The company has focused on improving credit quality, resulting in the lowest first pay default rates since the introduction of the credit grading system in late 2019 [10] - Adjustments have been made for returning and refinance customers to enhance credit performance and minimize exposure to higher risk customers [12] Market Data and Key Metrics Changes - The book-to-look ratio for new customer originations is approximately 20%, nearly half of the prior two years, indicating a more selective approach in a high demand environment [9] Company Strategy and Development Direction - The company expects muted growth in the upcoming year due to economic uncertainties and cash flow risks to customers, while continuing to invest in high credit quality customers [13][14] - The company has received a waiver from lenders regarding fixed charge coverage and is in the process of amending the debt agreement for more compliance cushion [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by inflation and potential recession but remains optimistic about generating significant cash flow in the coming operating environment [53] - The company anticipates a reduction in charge-offs in the third and fourth quarters due to improved credit quality from recent customer vintages [36][38] Other Important Information - The company has received recognition for its workplace culture, with over half of its branches located in award-winning cities [16] Q&A Session Summary Question: Discussion on lender waiver and compliance - Management confirmed that the waiver applies to the September month-end and is currently amending the debt agreement for more compliance cushion [21][22] Question: Charge-off rates and credit quality - Management explained that while first payment defaults are improving, charge-offs are currently high but expected to normalize in the coming quarters [32][36] Question: Yield trends and loan mix - Management indicated that the yield has been compressing due to a shift in loan mix, but they expect stabilization or potential increase in yields moving forward [39][42]

Financial Performance - Total revenues for the three months ended June 30, 2022, increased to $157.59 million, up 21.5% from $129.66 million in the same period of 2021[17] - Net loss for the three months ended June 30, 2022, was $8.80 million, resulting in a loss per share of $1.53, compared to a net income of $15.77 million and earnings per share of $2.56 in the same period of 2021[17] - Interest and fee income for the three months ended June 30, 2022, was $130.21 million, an increase of 19.3% from $109.17 million in the same period of 2021[17] - Net income for the three months ended June 30, 2022, was a loss of $8.8 million, compared to a profit of $15.8 million in the same period of 2021[23] - Operating income (loss) decreased by $27.1 million, or 104.1%, compared to the same period of the prior fiscal year[124] Credit Losses and Loan Performance - Provision for credit losses rose significantly to $85.82 million, compared to $30.27 million in the prior year, reflecting a 184.5% increase[17] - The provision for credit losses significantly increased to $85.8 million from $30.3 million year-over-year, indicating a rise of approximately 183%[23] - Net charge-offs for Q2 2022 were $64.41 million, significantly higher than $24.14 million in Q2 2021, indicating a rise in loan defaults[52] - The allowance for credit losses increased from $91.72 million in Q2 2021 to $134.24 million in Q2 2022, reflecting a provision for credit losses of $85.82 million in 2022 compared to $30.27 million in 2021[52] - The total gross loans receivable as of June 30, 2022, amounted to $1.64 billion, with a total past due amount of $183.17 million, representing 11.2% of total loans[52] Assets and Liabilities - Total assets reached $1.28 billion as of June 30, 2022, up from $1.22 billion as of March 31, 2022, indicating a 4.7% increase[14] - Total liabilities amounted to $924.95 million as of June 30, 2022, up from $845.27 million as of March 31, 2022, representing a 9.4% increase[14] - Senior notes payable increased to $481.39 million as of June 30, 2022, compared to $396.97 million as of March 31, 2022, reflecting a 21.2% rise[14] - Shareholders' equity decreased to $354.13 million as of June 30, 2022, down from $373.02 million as of March 31, 2022, a decline of 5.1%[14] Cash Flow and Investments - Net cash provided by operating activities increased to $58.2 million, up from $49.0 million year-over-year, reflecting a growth of approximately 18.5%[23] - Cash used in investing activities totaled $134.3 million, compared to $99.5 million in the prior year, reflecting an increase of about 35.0%[23] - Net cash provided by financing activities was $70.2 million, up from $43.1 million in the previous year, indicating a growth of approximately 62.9%[23] Loan Demand and Trends - The company’s highest loan demand typically occurs from October through December, indicating seasonal trends in loan volume[30] - The company has experienced significant seasonal fluctuations in operating results, with Q3 generally being lower and Q4 higher than other quarters[30] Debt and Covenants - The Company had total future debt payments of $781.4 million as of June 30, 2022[107] - The Company was in compliance with its debt covenants at June 30, 2022, and does not believe these covenants will materially limit its business and expansion strategy[104] - The Company has a minimum consolidated net worth requirement of $325.0 million as part of its debt covenants[102] Stock and Compensation - The weighted-average fair value at the grant date for stock options issued during the three months ended June 30, 2022, was $80.87, compared to $84.83 in 2021[77] - Compensation expense related to restricted stock was $3.0 million for the three months ended June 30, 2022, compared to $3.2 million for the same period in 2021[82] Miscellaneous - The company completed the sale of its last held-for-sale building, recording a loss of $39,000[28] - The company operates as a small-loan consumer finance company, providing short-term and medium-term loans to individuals with limited access to credit[29] - The company is currently evaluating the impact of the recently issued ASU 2022-02 on its consolidated financial statements[35]

Financial Data and Key Metrics Changes - For the fourth consecutive quarter, the company experienced record growth in origination volumes, with gross originations increasing by approximately $175 million compared to the prior year, totaling over $930 million, surpassing the previous strongest first quarter of $762 million in fiscal year 2020 [5] - The provision for credit losses increased by 14.5% due to seasonal credit adjustments, which is unrelated to new originations or recent performance [9] Business Line Data and Key Metrics Changes - The number of new customers increased by 7% year-over-year during the first quarter, but declined by 27% to 30% compared to pre-pandemic levels in the first quarter of 2019 and 2020 [7] - Charge-offs have increased as prior delinquencies aged, with delinquencies normalizing but remaining elevated compared to the previous two years [8] Market Data and Key Metrics Changes - Demand for credit has increased across the industry due to inflationary and cost pressures, impacting both delinquencies and demand for new originations [6] - The book-to-look ratio declined by 28% to 31% for new customers compared to pre-pandemic levels [6] Company Strategy and Development Direction - The company is focused on protecting its growth from the previous year and aims to achieve a long-term earnings per share target of $25.40 by the end of fiscal year 2025 [9] - The company is adapting to regulatory changes, such as the 36% rate cap in New Mexico, by pivoting to larger loans and exploring acquisition opportunities [58] Management's Comments on Operating Environment and Future Outlook - Management expects charge-offs and delinquencies to decrease moving forward due to tightened underwriting and reduced new borrower growth [18] - The company is optimistic about its ability to manage charge-offs and delinquencies despite current economic pressures [18][29] Other Important Information - The company acquired a portfolio during the quarter, resulting in a $3.1 million bargain purchase gain, indicating potential for future acquisitions [36] - The company is in the process of exploring securitization of loans, which would involve building out necessary infrastructure [60] Q&A Session Summary Question: Charge-offs and delinquencies trajectory - Management indicated that charge-offs are expected to decrease as delinquencies have leveled off since March, with a focus on managing the situation [17][18] Question: Lifetime loss assumption change - The change in lifetime loss assumption resulted in a $16.8 million impact on the provision, with a significant portion attributed to seasonality [21][22] Question: Bargain purchase gain explanation - The $3.1 million bargain purchase gain was due to acquiring a portfolio at a significant discount [36] Question: Opportunities for portfolio acquisitions - Management noted that there are a few opportunities available for acquiring portfolios [37] Question: Securitization of loans - The company is in the process of preparing for securitization, focusing on longer-term loans with lower interest rates [60][62]

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________ Form 10-K __________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: March 31, 2022 For the transition period from _______________ to _____________ Commission file number: 000-19599 WORLD ACCEPTANCE CORPORATION (Exact nam ...

World Acceptance Corporation (NASDAQ:WRLD) Q4 2022 Results Conference Call May 5, 2022 10:00 AM ET Company Participants Chad Prashad - President & Chief Executive Officer Johnny Calmes - CFO & Strategy Officer Conference Call Participants Vincent Caintic - Stephens John Rowan - Janney Operator Good morning, and welcome to the World Acceptance Corporation sponsored fourth quarter press release conference call. This call is being recorded. [Operator Instructions] Before we begin, the corporation has requested ...

[PART I - FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Consolidated Financial Statements](index=5&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The unaudited consolidated financial statements for the period ended December 31, 2021, reflect significant asset growth, increased revenues, and a decline in net income due to higher credit loss provisions [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $1.27 billion by December 31, 2021, driven by loan growth, while liabilities rose due to new debt issuance, and equity remained stable Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2021 | Mar 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $18,668 | $15,746 | | Loans receivable, net | $1,039,398 | $733,659 | | Total assets | $1,270,205 | $954,269 | | **Liabilities & Equity** | | | | Senior notes payable | $425,174 | $405,008 | | Senior unsecured notes payable, net | $295,143 | $0 | | Total liabilities | $860,799 | $549,342 | | Total shareholders' equity | $409,406 | $404,927 | | Total liabilities and shareholders' equity | $1,270,205 | $954,269 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 FY2022 revenues increased to $148.6 million, but net income declined to $7.3 million due to a significant rise in the provision for credit losses Key Operating Results (in thousands, except per share data) | Metric | Three Months Ended Dec 31, 2021 | Three Months Ended Dec 31, 2020 | Nine Months Ended Dec 31, 2021 | Nine Months Ended Dec 31, 2020 | | :--- | :--- | :--- | :--- | :--- | | Total revenues | $148,572 | $130,946 | $416,058 | $379,254 | | Provision for credit losses | $56,459 | $28,857 | $128,768 | $80,608 | | Net income | $7,327 | $14,491 | $35,538 | $43,399 | | Diluted EPS | $1.14 | $2.25 | $5.53 | $6.44 | [Consolidated Statements of Shareholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity slightly increased to $409.4 million, driven by net income and stock option exercises, partially offset by share repurchases - Key activities impacting shareholders' equity in the first nine months of fiscal 2022 included common stock repurchases of **$50.5 million**, proceeds from stock option exercises of **$11.7 million**, and net income of **$35.5 million**[20](index=20&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $171.1 million, while investing activities used $438.9 million, largely offset by $270.8 million from financing activities Cash Flow Summary (Nine months ended Dec 31, in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $171,052 | $131,409 | | Net cash used in investing activities | ($438,922) | ($131,252) | | Net cash provided by (used in) financing activities | $270,791 | ($2,085) | | **Net change in cash and cash equivalents** | **$2,921** | **($1,928)** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies, including CECL adoption, finance receivables, debt structure with a new $300 million senior note, and legal contingencies - The company adopted the **Current Expected Credit Loss (CECL) model** on April 1, 2020, which replaced the incurred loss methodology for determining the allowance for credit losses[35](index=35&type=chunk)[44](index=44&type=chunk) Allowance for Credit Losses Rollforward (Nine months ended Dec 31, in thousands) | Description | 2021 | 2020 | | :--- | :--- | :--- | | Beginning balance | $91,722 | $96,488 | | Impact of ASC 326 adoption | $0 | $28,628 | | Provision for credit losses | $128,768 | $80,608 | | Net charge-offs | ($87,209) | ($92,257) | | **Ending Balance** | **$133,281** | **$113,467** | - On September 27, 2021, the company issued **$300 million** in **7.0% senior unsecured notes** due 2026. Net proceeds were used to repay a portion of the outstanding debt under its revolving credit facility[109](index=109&type=chunk)[110](index=110&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses 27.0% loan growth to $1.61 billion, revenue increases, and net income decline due to higher credit loss provisions, alongside liquidity and share repurchases [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Q3 FY2022 revenues rose 13.5% to $148.6 million, but net income dropped 49.4% to $7.3 million due to a 95.6% increase in credit loss provisions Q3 FY2022 vs Q3 FY2021 Performance | Metric | Q3 FY2022 | Q3 FY2021 | Change | | :--- | :--- | :--- | :--- | | Gross Loans Outstanding | $1.61B | $1.26B | +27.0% | | Total Revenues | $148.6M | $130.9M | +13.5% | | Provision for Credit Losses | $56.5M | $28.9M | +95.6% | | Net Income | $7.3M | $14.5M | -49.4% | - The increase in delinquencies and charge-offs was expected due to the growth in new and shorter-tenured customers in the portfolio[134](index=134&type=chunk) - For the nine months ended Dec 31, 2021, net income decreased **18.1%** to **$35.5 million**, while revenues increased **9.7%** to **$416.1 million** compared to the prior year period[145](index=145&type=chunk)[146](index=146&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is supported by operations and a revolving credit facility, enhanced by a $300 million senior note issuance, with $46.1 million remaining for share repurchases - The company issued **$300 million** in **7.0% senior notes** due 2026 to repay a portion of its revolving credit facility and for general corporate purposes[165](index=165&type=chunk)[166](index=166&type=chunk) - As of December 31, 2021, the company had a **$685.0 million** revolving credit facility with **$425.2 million** outstanding and **$259.5 million** available for borrowing[106](index=106&type=chunk)[107](index=107&type=chunk) - The Board of Directors authorized a **$50.0 million** share repurchase program in December 2021. As of December 31, 2021, **$46.1 million** remained available for repurchase[177](index=177&type=chunk) [Critical Accounting Policies](index=43&type=section&id=Critical%20Accounting%20Policies) Management identifies Allowance for Credit Losses, Share-Based Compensation, and Income Taxes as critical accounting policies requiring significant judgment - The company's most critical accounting policies are considered to be the **allowance for credit losses**, **share-based compensation**, and **income taxes** due to the significant degree of management judgment involved[182](index=182&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate exposure on its $425.2 million variable-rate debt, with a 1.0% rate change impacting annual interest expense by $4.3 million - The company's main market risk is **interest rate risk**. Based on the **$425.2 million** outstanding balance on its revolving credit facility at December 31, 2021, a **1.0%** change in the interest rate would cause an annual change in interest expense of approximately **$4.3 million**[189](index=189&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective as of December 31, 2021, with no material changes to internal controls - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were **effective** as of the end of the reporting period[191](index=191&type=chunk) - **No material changes** to internal control over financial reporting occurred during the quarter[190](index=190&type=chunk) [PART II - OTHER INFORMATION](index=46&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company is a nominal defendant in a shareholder derivative complaint filed in September 2020, stemming from a Mexico investigation - A shareholder derivative complaint was filed on September 25, 2020, against certain current and former directors and officers related to the company's resolution of an investigation in Mexico[120](index=120&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for fiscal year ended March 31, 2021 - **No material changes** to the risk factors from the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021, have been reported[195](index=195&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=46&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q3 FY2022, the company repurchased 93,722 shares for $19.3 million, with $46.1 million remaining under its authorization Share Repurchases (Q3 FY2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | October 2021 | 6,000 | $160.66 | | November 2021 | 43,605 | $200.52 | | December 2021 | 44,117 | $218.45 | | **Total for the quarter** | **93,722** | **$206.41** | [Other Items (Items 3, 4, 5, 6)](index=46&type=section&id=Other%20Items) This section confirms no defaults on senior securities, no mine safety disclosures, and no other reportable information, referencing filed exhibits - The company reported **no defaults** upon senior securities (Item 3), **no mine safety disclosures** (Item 4), and **no other information** (Item 5)[197](index=197&type=chunk)[198](index=198&type=chunk)[199](index=199&type=chunk)

Financial Data and Key Metrics Changes - The overall portfolio grew by $211 million, or 15.1% during the quarter, and $340 million, or 27% year-over-year, marking the largest single growth quarter on record [7][8] - Delinquency rates remain low and within expectations, with a shift to CECL provisioning expected to positively impact revenue and income in future quarters [8][9] Business Line Data and Key Metrics Changes - The company experienced broad expansion across all customer types, with significant increases in new and returning customer loan volume compared to last year and pre-pandemic levels [8] Market Data and Key Metrics Changes - Over 43% of the portfolio is below 36% APR, and 56% is below 54% APR, indicating the company's ability to offer attractive loan terms to retain customers [11] Company Strategy and Development Direction - The company aims to continue portfolio growth while reducing servicing costs, moving towards a fixed cost model [31][32] - The focus is on retaining high-quality customers and monitoring credit quality to manage expected losses and provisions effectively [32] Management's Comments on Operating Environment and Future Outlook - Management noted that the rapid growth in the portfolio is due to recovering demand post-pandemic, with expectations for continued growth but not necessarily at the same accelerated rate [20][21] - The company anticipates hitting its long-term EPS target before the end of fiscal year 2025 [10][32] Other Important Information - The tax rate was low due to windfall tax benefits from stock option exercises, with expectations of a normal tax rate between 21% and 23% going forward [27] Q&A Session Summary Question: Clarification on provisioning and net income - Management explained that the rapid growth in the portfolio has led to increased provisioning, which will ease as growth decelerates [19][21] Question: Charge-offs and portfolio composition - It was noted that larger loans typically have lower charge-off rates compared to smaller loans, and the current portfolio has seen record growth with a significant increase in new customers [25][26] Question: Tax rate and future expectations - The low tax rate was attributed to windfall benefits, with a normal rate expected in the future [27] Question: Medium-term loan growth and credit expectations - Management reiterated expectations for continued growth, with a focus on customer retention and credit quality monitoring [32][39] Question: Funding costs and future expectations - The increase in funding costs was linked to recent bond issuances and the growth in buybacks, with expectations for some natural deleveraging in the upcoming quarter [41][46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________ Form 10-Q __________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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: 000-19599 WORLD ACCEPTANCE ...