AMERICAS CARMART INC

Listed Company

CRMTCIK 0000799850NasdaqAcceleratedRetail-Auto Dealers & Gasoline StationsTexasFY ends Apr 30

Period

FY 2025

Revenue

$1.39B

Net Income

$17.93M

Total Assets

$1.61B

Equity

$569.42M

Shares Out

8.30M

Op. Cash Flow

$-48.76M

Business

AMERICAS CARMART INC sells used vehicles and provides integrated retail financing to customers with limited credit histories. The company’s offerings include older-model used vehicles, service contracts, an accident protection plan, and in-house installment financing with tailored payment schedules and collections support. It operates as a single reportable Integrated Auto Sales and Finance business through a network of decentralized dealerships supported by corporate oversight, loan origination, underwriting, and centralized collections and compliance functions. The company markets primarily in smaller communities across the South‑Central United States and via digital channels for inventory browsing and applications.

Summary from filing dated 2025-08-08

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Sales	1,146	1,161	1,204	1,039	799
Interest and other income	245	233	196	152	111
Total revenues	1,391	1,394	1,400	1,191	910
Cost of sales	726	759	801	659	479
Selling, general and administrative	189	179	177	156	131
Provision for credit losses	375	423	353	238	154
Interest expense	71	65	38	—	—
Depreciation and amortization	8	7	6	4	4
Loss on disposal of property and equipment	299,000	437,000	361,000	−149,000	−40,000
Total costs and expenses	1,368	1,434	1,375	1,068	774
Income (loss) before income taxes	23	−40	26	—	—
Provision (benefit) for income taxes	5	−9	5	28	31
Net income (loss)	18	−31	20	95	105
Less: Dividends on mandatorily redeemable preferred stock	40,000	40,000	40,000	40,000	40,000
Net income (loss) attributable to common stockholders, basic	18	−31	20	95	105
Net income (loss) attributable to common stockholders, diluted	18	−31	20	—	—
Basic (in dollars per share)	2.38	−4.92	3.2	14.59	15.81
Diluted (in dollars per share)	2.33	−4.92	3.11	13.92	15.05
Basic (in shares)	8	6	6	7	7
Diluted (in shares)	8	6	7	7	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Cash and cash equivalents	10	6	10	7	3
Restricted cash	115	89	58	36	0
Accrued interest on finance receivables	7	7	6	5	3
Finance receivables, net of allowance for credit losses of $323,100 and $331,260	1,181	1,099	1,063	864	632
Inventory	112	107	109	115	82
Income tax receivable, net	0	3	—	—	—
Prepaid expenses and other assets	38	31	26	15	6
Right-of-use asset	64	61	59	59	60
Goodwill	23	14	12	—	—
Property and equipment, net	57	60	62	45	35
Total assets	1,606	1,478	1,415	1,155	822
Accounts payable	35	21	27	20	18
Accrued liabilities	36	28	28	33	31
Income tax payable, net	1	0	—	0	150,000
Deferred income tax liabilities, net	7	18	39	30	20
Lease liability	67	64	62	61	63
Notes payable, net	572	554	471	396	0
Revolving line of credit, net	205	201	167	—	—
Total liabilities	1,037	1,006	916	678	415
Commitments and contingencies (Note K)	0	0	—	—	—
Mandatorily redeemable preferred stock	400,000	400,000	400,000	400,000	400,000
Preferred stock, par value $0.01 per share, 1,000,000 shares authorized; none issued or outstanding	0	0	0	0	0
Common stock, par value $0.01 per share, 50,000,000 shares authorized; 15,605,818 and 13,727,013 issued at April 30, 2025 and April 30, 2024, respectively, of which 8,263,280 and 6,394,675 were outstanding at April 30, 2025 and April 30, 2024, respectively	156,000	137,000	137,000	136,000	136,000
Additional paid-in capital	195	114	110	103	99
Retained earnings	672	654	686	665	565
Less: Treasury stock, at cost, 7,342,538 and 7,332,338 shares at April 30, 2025 and April 30, 2024, respectively	−298	−298	−297	−292	—
Total stockholders' equity	569	471	498	476	406
Non-controlling interest	100,000	100,000	100,000	100,000	100,000
Total equity	570	471	499	477	412
Total Liabilities, Mezzanine Equity and Equity	1,606	1,478	1,415	1,155	822

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Losses on claims for accident protection plan	35	35	25	22	19
Depreciation and amortization	8	7	6	4	4
Amortization of debt issuance costs	6	5	5	775,000	391,000
Stock-based compensation	5	4	5	5	6
Change in fair value of contingent consideration	161,000	0	0	—	—
Impairment of goodwill	140,000	267,000	0	—	—
(Gain) loss on disposal of property and equipment	−2,000	437,000	361,000	149,000	−40,000
Deferred income taxes	−11	−22	9	9	7
Excess tax benefit from share based compensation	0	0	0	—	—
Finance receivable originations	−1,075	−1,080	−1,161	−1,010	−763
Loan origination costs	−2,000	40,000	−10,000	20,000	—
Finance receivable collections	469	456	434	418	370
Accrued interest on finance receivables	−525,000	−792,000	−1	−2	−269,000
Inventory	115	139	133	51	5
Prepaid expenses and other assets	−7	−7	−6	−8	−2
Accounts payable and accrued liabilities	18	−9	9	5	15
Income taxes, net	4	6	−9	−424,000	−4
Net cash used in operating activities	−49	−74	−136	−119	−54
Purchase of investments	−8	−5	−6	−2	0
Purchases of property and equipment	−4	−6	−22	−16	−9
Proceeds from sale of property and equipment	42,000	316,000	84,000	20,000	694,000
Net cash used in investing activities	−11	−11	−28	−17	−8
Exercise of stock options	0	−455,000	1	−1	4
Issuance of common stock	74	282,000	286,000	293,000	258,000
Purchase of common stock	−434,000	−365,000	−5	−35	−11
Dividend payments	−40,000	−40,000	−40,000	−40,000	−40,000
Debt issuance costs	−9	−6	−2	−6	−282,000
Change in cash overdrafts	466,000	823,000	0	−2	2
Issuances of notes payable	650	610	400	400	0
Payments on notes payable	−631	−527	−327	0	−524,000
Proceeds from revolving credit facilities	601	555	525	331	73
Payments on revolving credit facilities	−595	−521	−403	−511	−63
Net cash provided by financing activities	90	111	189	176	5
Increase in cash, cash equivalents, and restricted cash	30	26	25	40	−57

Filings

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