Car-Mart(US:CRMT)2025-12-04 14:00Financial Performance - Total revenue increased by 0.8% to $350.2 million [6] - Total collections increased 4.6% to $181.7 million [6] - Interest income increased $2.4 million, or 3.9% [6] - Gross margin percentage decreased 190 basis points to 37.5% [6] - Net loss per share was $2.71, with an adjusted loss per share of $0.79 [6, 8] Capital Structure and Liquidity - Closed a $300 million term loan and repaid the revolving line of credit balance [6, 16] - Total cash, including restricted cash, increased to $251 million from $124.5 million [6] - Interest expense decreased 13.1% [6] - In August 2025, the company issued $171.9 million in principal of asset-backed notes with a weighted average coupon of 5.46% [16] Operational Metrics - Credit applications were up 14.6% [6, 34] - Sales volumes decreased 1.1% to 13,637 units [6] - Accounts over 30 days past due improved 36 basis points year-over-year to 3.14% [6] - Allowance for credit loss increased to 24.19% [6] Strategic Initiatives and Cost Control - Targeting approximately 16.5% SG&A as a percentage of sales over time [17] - Identified $8.4 million in savings within the fiscal year and $31.4 million annualized through reorganization, IT spend reduction, store closures, and marketing adjustments [19] - LOS V2 has improved bookings in 4-7 rank customers by 12% vs LOS V1 FYTD [33]