MOTORCAR PARTS OF AMERICA INC

Listed Company

MPAACIK 0000918251NasdaqAcceleratedMotor Vehicle Parts & AccessoriesNew YorkFY ends Mar 31

Period

FY 2025

Revenue

$757.35M

Net Income

$-19.47M

Total Assets

$957.64M

Equity

$257.70M

Shares Out

19.21M

Op. Cash Flow

$45.48M

Business

MOTORCAR PARTS OF AMERICA INC supplies automotive aftermarket replacement parts and test/diagnostic equipment, focusing on remanufacturing and related manufacturing. Key products include alternators and starters, wheel hub assemblies, brake components, turbochargers, heavy‑duty parts, and test solutions and diagnostic software for electrification and power emulation. Its operating segments are Hard Parts, Test Solutions and Diagnostic Equipment, and Heavy Duty, serving OEMs, aftermarket chains, professional installers and warehouse and specialty distributors. It distributes mainly through large retail chains, OES/warranty programs, direct and indirect sales and technical channels, primarily in North America.

Summary from filing dated 2025-06-09

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Net sales	757	718	683	650	541
Cost of goods sold	604	585	569	532	431
Gross profit	154	133	114	118	109
General and administrative	64	58	55	57	54
Sales and marketing	23	22	22	23	18
Research and development	11	10	10	11	9
Foreign exchange impact of lease liabilities and forward contracts	16	−4	−9	−2	−18
Total operating expenses	114	86	78	89	63
Operating income	40	46	36	29	47
Interest expense, net	56	60	40	16	16
Change in fair value of compound net derivative liability	60,000	−1	0	0	—
Loss on extinguishment of debt	0	168,000	0	0	—
Total other expenses	56	59	40	16	—
Loss before income tax expense	−16	−13	−3	13	31
Income tax expense	4	36	1	6	9
Net loss	−19	−49	−4	7	21
Basic net loss per share (in Dollars per share)	−0.99	−2.51	−0.22	0.38	1.13
Diluted net loss per share (in Dollars per share)	−0.99	−2.51	−0.22	0.38	1.11
Basic (in Shares)	20	20	19	19	19
Diluted (in Shares)	20	20	19	20	19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Cash and cash equivalents	9	14	12	23	16
Short-term investments	2	2	2	2	2
Accounts receivable net	91	96	120	85	63
Inventory net	341	377	340	371	288
Inventory unreturned	18	20	17	15	15
Contract assets	30	27	25	28	27
Income tax receivable	4	6	2	301,000	405,000
Prepaid expenses and other current assets	16	18	20	13	12
Total current assets	511	560	537	537	423
Plant and equipment net	32	38	46	51	54
Operating lease assets	67	84	88	82	72
Deferred income taxes	5	3	33	27	19
Long-term contract assets	336	320	318	310	270
Goodwill	3	3	3	3	3
Intangible assets net	552,000	1	2	4	5
Other assets	3	2	1	1	2
TOTAL ASSETS	958	1,012	1,029	1,016	848
Accounts payable	142	155	119	147	129
Accrued liabilities	30	30	22	21	23
Customer finished goods returns accrual	34	38	38	38	32
Contract liabilities	38	38	40	42	41
Revolving loan	91	128	145	155	84
Other current liabilities	6	7	5	12	7
Operating lease liabilities	10	8	9	7	6
Total current liabilities	351	404	383	426	326
Convertible notes, related party	35	31	31	0	—
Contract liabilities, less current portion	241	212	194	173	125
Deferred income taxes	362,000	511,000	718,000	126,000	73,000
Operating lease liabilities, less current portion	65	72	79	81	71
Other liabilities	7	7	12	7	8
Total liabilities	700	727	708	700	547
Commitments and contingencies	—	—	—	—	—
Common stock; par value $.01 per share, 50,000,000 shares authorized;19,435,706 and 19,662,380 shares issued and outstanding at March 31, 2025 and 2024, respectively	194,000	197,000	195,000	191,000	190,000
Additional paid-in capital	234	236	232	227	223
Retained earnings	20	40	89	93	86
Accumulated other comprehensive income	3	9	−303,000	−5	−8
Total shareholders' equity	258	285	320	315	301
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	958	1,012	1,029	1,016	848

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Depreciation and amortization	10	11	11	11	10
Amortization of intangible assets	477,000	1	1	2	2
Amortization of debt issuance costs	2	2	663,000	623,000	859,000
Amortization of interest on contract liabilities, net	749,000	933,000	940,000	—	—
Accrued interest on convertible notes, related party	4	3	9,000	0	0
Amortization of core premiums paid to customers	10	10	11	11	7
Amortization of finished goods premiums paid to customers	912,000	782,000	678,000	718,000	101,000
Non-cash lease expense	10	10	8	7	7
Foreign currency remeasurement	2	65,000	1	48,000	−2
(Gain) loss on short-term investments	−105,000	−347,000	181,000	−163,000	−521,000
Net provision for inventory reserves	15	16	19	14	13
Net provision for customer payment discrepancies	2	1	2	2	694,000
Net provision for (recovery of) doubtful accounts	42,000	−133,000	108,000	95,000	−1,000
Deferred income taxes	−2	30	−5	−7	−433,000
Share-based compensation expense	4	5	5	7	5
Loss on disposal of plant and equipment	5,000	9,000	17,000	36,000	29,000
Accounts receivable	2	23	−37	−24	28
Inventory	20	−54	10	−96	−74
Inventory unreturned	2	−4	−2	−437,000	−6
Income tax receivable	1	−4	−2	111,000	3
Prepaid expenses and other current assets	−2	3	−3	−682,000	−3
Other assets	−2	−601,000	435,000	122,000	523,000
Accounts payable and accrued liabilities	−13	47	−24	17	56
Customer finished goods returns accrual	−4	222,000	−201,000	7	6
Contract assets, net	−30	−14	−18	−52	−44
Contract liabilities, net	29	15	18	48	45
Operating lease liabilities	−9	−9	−7	−5	−6
Other liabilities	−4	−1	−881,000	7	2
Net cash provided by (used in) operating activities	45	39	−22	−45	56
Purchase of plant and equipment	−5	−1	−4	−8	−14
Proceeds from sales of plant and equipment	49,000	0	0	0	8,000
Redemptions of short-term investments	60,000	521,000	10,000	−388,000	−280,000
Net cash used in investing activities	−4	−479,000	−4	−8	−14
Borrowings under revolving loan	541	82	65	107	27
Repayments under revolving loan	−579	−99	−75	−36	−95
Repayments of term loan	0	−13	−4	−4	−4
Proceeds from issuance of convertible notes, related party	0	0	32	0	0
Payments for debt issuance costs	−15,000	−4	−2	−1	0
Payments on finance lease obligations	−2	−2	−2	−3	−2
Exercise of stock options	0	0	940,000	499,000	719,000
Cash used to net share settle equity awards	−890,000	−279,000	−969,000	−2	−350,000
Repurchase of common stock, including fees	−5	0	0	−2	−1
Net cash (used in) provided by financing activities	−45	−36	14	60	−77
Effect of exchange rate changes on cash and cash equivalents	−898,000	124,000	217,000	78,000	599,000
Net (decrease) increase in cash and cash equivalents	−5	2	−11	7	−34
Cash paid for interest, net	49	54	38	14	14
Cash paid for income taxes, net of refunds	6	10	14	7	3
Cash paid for operating leases	13	13	12	10	11
Cash paid for finance leases	2	2	3	3	3
Plant and equipment acquired under finance lease	1	745,000	1	836,000	4
Assets acquired under operating leases	4	2	8	16	16
Non-cash capital expenditures	80,000	16,000	6,000	661,000	857,000
Debt issuance costs included in accounts payable and accrued liabilities	0	0	476,000	0	0

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