World Acceptance (WRLD) - 2025 Q4 - Annual Results

Financial Performance - Total revenues for the fourth quarter of fiscal 2025 increased to $165.3 million, a 3.8% increase from $159.3 million for the same quarter of the prior year[9] - Net income for the fourth quarter of fiscal 2025 increased to $44.3 million compared to $35.1 million for the same quarter of the prior year, resulting in diluted net income per share of $8.13[8] - Net income for the year ended March 31, 2025, increased by $12.4 million to $89.7 million, resulting in a net income of $16.30 per diluted share compared to $13.19 per diluted share in the prior year[23] - Total revenues for fiscal 2025 decreased by 1.5% to $564.8 million, down from $573.2 million in the previous fiscal year due to a decrease in loans outstanding[23] Loan and Credit Metrics - Gross loans outstanding were $1.23 billion as of March 31, 2025, a 4.0% decrease from $1.28 billion as of March 31, 2024[3] - New customer loan volume increased by 1.3%, while former and refinance customer loan volumes decreased by 2.5% and 14.2%, respectively, compared to the same quarter of fiscal year 2024[4] - The provision for credit losses increased by $3.7 million to $33.0 million from $29.3 million when comparing the fourth quarter of fiscal 2025 to the fourth quarter of fiscal 2024[10] - Provision for credit losses for the year ended March 31, 2025, was $169.2 million, compared to $157.0 million in the prior year[30] - Annualized net charge-offs as a percent of average net loans decreased from 17.7% in fiscal 2024 to 17.5% in fiscal 2025[23] Expenses and Cost Management - General and administrative expenses decreased by $5.7 million, or 7.9%, to $65.9 million in the fourth quarter of fiscal 2025 compared to $71.6 million in the same quarter of the prior fiscal year[16] - Interest expense decreased by $0.6 million, or 4.8%, due to a 5.2% decrease in average debt outstanding for the quarter[20] Asset and Equity Position - Total assets as of March 31, 2025, were $1,007.6 million, a decrease from $1,056.4 million as of March 31, 2024[33] - The debt to equity ratio decreased to 1.0:1 at March 31, 2025, compared to 1.2:1 at March 31, 2024[20] Shareholder Actions - The Company repurchased 225,985 shares at an aggregate purchase price of approximately $32.0 million during Q4 of fiscal 2025, in addition to repurchases of 174,632 shares for approximately $22.2 million in the first three quarters[22] - The Company had approximately 5.2 million common shares outstanding as of March 31, 2025, excluding 159,683 unvested restricted shares[22] Customer and Branch Growth - The customer base increased by 3.5% during the twelve-month period ended March 31, 2025[6] - The Company opened or acquired a net of 11 branches during the three months ended March 31, 2025, bringing the total branches open at period end to 1,024[35] Income from Operations - Other income increased by $6.1 million, or 20.4%, to $35.9 million in the fourth quarter of fiscal 2025 compared to $29.8 million in the fourth quarter of fiscal 2024[9] - Interest and fee income for the year ended March 31, 2025, was $465.1 million, slightly down from $468.5 million in the previous year[30] Return Metrics - Return on average assets for the trailing 12 months was 8.5%, up from 7.0% in the prior year[35]