{"id":822445,"date":"2025-03-06T07:33:56","date_gmt":"2025-03-06T12:33:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/americas-car-mart-reports-third-quarter-fiscal-year-2025-results\/"},"modified":"2025-03-06T07:33:56","modified_gmt":"2025-03-06T12:33:56","slug":"americas-car-mart-reports-third-quarter-fiscal-year-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/americas-car-mart-reports-third-quarter-fiscal-year-2025-results\/","title":{"rendered":"America\u2019s Car-Mart Reports Third Quarter Fiscal Year 2025 Results"},"content":{"rendered":"
\n

ROGERS, Ark., March 06, 2025 (GLOBE NEWSWIRE) — America\u2019s Car-Mart, Inc. (NASDAQ: CRMT) (\u201cwe,\u201d \u201cCar-Mart\u201d or the \u201cCompany\u201d), today reported financial results for the third quarter ended January 31, 2025.<\/p>\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Third Quarter Key Highlights (FY\u201925 Q3 vs. FY\u201924 Q3, unless otherwise noted)<\/strong><\/p>\n
    \n
  • Total revenue was $325.7 million, up 8.7%<\/li>\n
  • Sales volumes increased 13.2% to 13,198 units<\/li>\n
  • Interest income increased $3.0 million, up 5.1%<\/li>\n
  • Total collections increased 5.2% to $176.3 million<\/li>\n
  • Gross margin percentage increased 150 basis points to 35.7%<\/li>\n
  • Allowance for credit loss improved to 24.31%, down from 24.72% sequentially<\/li>\n
  • Net charge-offs as a % of average finance receivables improved to 6.1% vs. 6.8%<\/li>\n
  • Interest expense increased 1.1%, but was down $1.1 million sequentially<\/li>\n
  • Diluted earnings per share of $0.37 vs. a loss per share of $1.34<\/li>\n
  • Completed a $200 million term securitization transaction, resulting in a 95 basis point improvement in the weighted average life adjusted coupon compared to the October 2024 transaction<\/li>\n
  • On February 28, 2025, Car-Mart entered into an amended $350 million asset-based lending revolving credit facility, increasing the total\u00a0commitment and extending the maturity to March 2027<\/li>\n<\/ul>\n<\/td>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n President and CEO Doug Campbell commentary:
<\/strong>\u201cWe continue to strengthen our business by enhancing our financial flexibility, improving our operational and technology capabilities, and adding proven leaders to our team which allowed us to grow volumes, gross margin, and minimize losses during the quarter. Both our amended ABL facility and most recent ABS transaction have further advanced our capital position and provide a foundation for further development of a competitive funding structure going forward. Our LOS has transformed our underwriting with meaningfully improved credit performance, which gives us tremendous confidence in our ability to support both current and future customers. I would also like to thank our associates who are helping our customers navigate the current environment.\u201d<\/p>\n\n\n
\n Third Quarter Fiscal Year 2025 Key Operating Metrics<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n Dollars in thousands, except per share data. Dollar and percentage changes may not recalculate due to rounding. Charts may not be to scale.<\/em>\n <\/p>\n

\u00a0<\/p>\n

\n \n <\/p>\n

\n \n <\/p>\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Third Quarter Business Review<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n Note: Discussions in each section provide information for the third quarter of fiscal year 2025 compared to the third quarter of fiscal year 2024, unless otherwise noted.<\/em>
\n <\/strong>\n <\/p>\n

\n TOTAL REVENUE <\/strong>\u2013 An 8.7% increase in revenue was primarily driven by an increase in retail units sold, partially offset by a 0.9% decrease in the average retail sales price. Interest income contributed favorably and was up 5.1% year-over-year.<\/p>\n

\n SALES <\/strong>\u2013 Sales volumes increased 13.2%, 13,198 units vs. 11,664 units. The prior fiscal year quarter volumes were negatively impacted by tighter underwriting standards associated with the implementation of the Company\u2019s LOS. The average vehicle retail sales price, excluding ancillary products, increased to $17,310, reflecting a $134 increase compared to the prior year period and a $59 increase when viewed sequentially.\u00a0\u00a0 Additionally, the Company ended the quarter with more inventory on hand to support positive seasonal trends associated with spring selling and tax refund season.<\/p>\n

\n GROSS PROFIT<\/strong> \u2013 Gross profit margin as a percentage of sales was 35.7%. The 150-basis point improvement was primarily due to continued improvements in vehicle procurement and disposal. This benefit was partially offset by increased accident protection plan claims primarily related to recent weather events.<\/p>\n

\n NET CHARGE-OFFS<\/strong> \u2013 Net charge-offs as a percentage of average finance receivables improved to 6.1% compared to 6.8%. On a relative basis, we saw improvements in both the frequency and severity of losses.<\/p>\n

\n ALLOWANCE FOR CREDIT LOSSES <\/strong>\u2013 The allowance for credit losses as a percentage of finance receivables, net of deferred revenue and pending accident protection plan claims, improved to 24.31% at January 31, 2025, from 24.72% at October 31, 2024. The primary driver of this change was continued favorable performance in contracts originated under our LOS. As of January 31, 2025, approximately 58% of the outstanding portfolio balance (excluding acquisitions) was originated under the Company\u2019s LOS also contributing to this favorable performance. Delinquencies (accounts over 30 days past due) increased by 40 basis points to 3.7% of finance receivables as of January 31, 2025, and were up 20 basis points sequentially. The slight increase in delinquencies was due to the impact recent weather events had on our customers, which has since improved.<\/p>\n

\n UNDERWRITING <\/strong>\u2013 The average down payment, as a percentage of the average retail sales price, remained stable and was 5.1%\u00a0for the quarter ended January 31, 2025. The average originating term was 44.6 months, up from 43.3 compared to the prior year quarter and up slightly from 44.2 sequentially. The Company continues to focus on improving deal structures, particularly within the underlying credit tiers of customers, which the Company expects to strengthen the performance of the portfolio going forward. Please see the table and supplemental material for Cash-on-Cash returns.<\/p>\n

\n SG&A EXPENSE<\/strong> \u2013 SG&A expense was $46.5 million compared to $43.6 million. The Company\u2019s last two acquisitions completed since the end of prior year quarter drove $1.8 million of the increase and the remainder was related to higher stock compensation. SG&A per average customer was $449 compared to $421. This 6.7% increase in SG&A per average customer was primarily due to recent acquisitions of dealerships that are currently building their customer bases.<\/p>\n

\n LEVERAGE & LIQUIDITY<\/strong> \u2013Debt to finance receivables and debt, net of cash, to finance receivables (non-GAAP)1<\/sup> were 53.5% and 45.0%, compared to 51.8% and 45.2%, respectively, at January 31, 2024. During the nine months ended January 31, 2025, the Company grew finance receivables by $50.6 million, increased inventory by $36.5 million, and invested in acquisition and fixed assets of $10.6 million, with a $9.0 million increase in debt, net of cash.<\/p>\n

\n FINANCINGS<\/strong> \u2013 On January 31, 2025, the Company completed a term securitization transaction involving the issuance of $200 million in principal amount of asset-backed notes with an overall weighted average life adjusted coupon of 6.49%. The weighted average life adjusted coupon improved 95 basis points from prior October 2024 securitization, and the transaction was oversubscribed by more than 10 times the principal amount sold.<\/p>\n

Additionally, as previously reported, following the completion of the third quarter, on February 28, 2025, the Company entered into an amendment to its existing asset-based lending revolving credit facility (\u201cABL Facility\u201d) that expanded the total available borrowings under the facility to $350 million and extended the maturity date to March 2027. There was approximately $75 million drawn on the ABL Facility as of January 31, 2025.<\/p>\n

\n ANNUAL CASH-ON-CASH RETURNS <\/strong>\u2013 The Company continues to generate solid cash-on-cash returns.<\/p>\n

The following table sets forth the actual and projected cash-on-cash returns as of January 31, 2025, for the Company\u2019s finance receivables by origination year. The return percentages provided for contracts originated in fiscal years 2017 through 2020 reflect the Company\u2019s actual cash-on-cash returns.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Cash on Cash Return<\/strong>\n <\/td>\n<\/tr>\n
\n Loan Origination Year<\/strong>\n <\/td>\n\n % of A\/R Remaining<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Current Projected\/Actual<\/strong>\n <\/td>\n\n Prior Projected<\/strong>\n <\/td>\n\n Variance<\/strong>\n <\/td>\n<\/tr>\n
FY2017<\/td>\n0.0%<\/td>\n\u00a0<\/td>\n61.1%<\/td>\n*<\/td>\n*<\/td>\n<\/tr>\n
FY2018<\/td>\n0.0%<\/td>\n\u00a0<\/td>\n67.6%<\/td>\n*<\/td>\n*<\/td>\n<\/tr>\n
FY2019<\/td>\n0.0%<\/td>\n\u00a0<\/td>\n70.0%<\/td>\n*<\/td>\n*<\/td>\n<\/tr>\n
FY2020<\/td>\n0.1%<\/td>\n\u00a0<\/td>\n73.6%<\/td>\n*<\/td>\n*<\/td>\n<\/tr>\n
FY2021<\/td>\n1.0%<\/td>\n\u00a0<\/td>\n71.7%<\/td>\n72.4%<\/td>\n-0.7%<\/td>\n<\/tr>\n
FY2022<\/td>\n6.7%<\/td>\n\u00a0<\/td>\n52.2%<\/td>\n53.8%<\/td>\n-1.6%<\/td>\n<\/tr>\n
FY2023<\/td>\n19.3%<\/td>\n\u00a0<\/td>\n44.9%<\/td>\n47.1%<\/td>\n-2.2%<\/td>\n<\/tr>\n
FY2024<\/td>\n44.7%<\/td>\n\u00a0<\/td>\n60.3%<\/td>\n62.9%<\/td>\n-2.6%<\/td>\n<\/tr>\n
FY2025<\/td>\n83.7%<\/td>\n\u00a0<\/td>\n74.4%<\/td>\n72.3%<\/td>\n2.1%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
* 2017 -2020 Pools’ Current Projection reflects actual cash on cash return\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n 1<\/sup> Calculation of this non-GAAP financial measure and a reconciliation to the most directly comparable GAAP measure are included in the tables accompanying this release<\/p>\n

\n 2<\/sup> \u201cCash-on-cash returns\u201d represent the return on cash invested by the Company in the vehicle finance loans the Company originates and is calculated with respect to a pool of loans (or finance receivables) by dividing total \u201ccash in\u201d less \u201ccash out\u201d by total \u201ccash out\u201d with respect to such pool. \u201cCash in\u201d represents the total cash the Company expects to collect on the pool of finance receivables, including credit losses. This includes down-payments, principal and interest collected (including special and seasonal payments) and the fair market value of repossessed vehicles, if applicable. \u201cCash out\u201d includes purchase price paid by the Company to acquire the vehicle (including reconditioning and transportation costs), and all other post-sale expenses as well as expenses related to our ancillary products. The calculation assumes estimates on expected credit losses net of fair market value of repossessed vehicles and the related timing of such losses as well as post sales repair expenses and special payments. The Company evaluates and updates expected credit losses quarterly. The credit quality of each pool is monitored and compared to prior and initial forecasts and is reflected in our on-going internal cash-on-cash projections.<\/p>\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Key Operating Results<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nJanuary 31,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n2024<\/td>\n\u00a0<\/td>\n% Change<\/td>\n<\/tr>\n
\n Operating Data:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRetail units sold<\/td>\n\u00a0<\/td>\n13,198<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.2<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage number of stores in operation<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage retail units sold per store per month<\/td>\n\u00a0<\/td>\n28.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage retail sales price<\/td>\n$<\/td>\n19,275<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n19,455<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.9<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal gross profit per retail unit sold<\/td>\n$<\/td>\n7,131<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,043<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal gross profit percentage<\/td>\n\u00a0<\/td>\n35.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSame store revenue growth<\/td>\n\u00a0<\/td>\n3.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9.3<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNet charge-offs as a percent of average finance receivables<\/td>\n\u00a0<\/td>\n6.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal collected (principal, interest and late fees),\u00a0in thousands<\/em><\/td>\n$<\/td>\n176,338<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n167,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage total collected per active customer per month<\/td>\n$<\/td>\n568<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n540<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage percentage of finance receivables-current (excl. 1-2 day)<\/td>\n\u00a0<\/td>\n81.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage down-payment percentage<\/td>\n\u00a0<\/td>\n5.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nNine Months Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nJanuary 31,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n2024<\/td>\n\u00a0<\/td>\n% Change<\/td>\n<\/tr>\n
\n Operating Data:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRetail units sold<\/td>\n\u00a0<\/td>\n41,373<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,738<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3.2<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage number of stores in operation<\/td>\n\u00a0<\/td>\n155<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage retail units sold per store per month<\/td>\n\u00a0<\/td>\n29.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3.6<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage retail sales price<\/td>\n$<\/td>\n19,531<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n19,062<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal gross profit per retail unit sold<\/td>\n$<\/td>\n7,429<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,867<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal gross profit percentage<\/td>\n\u00a0<\/td>\n36.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSame store revenue growth<\/td>\n\u00a0<\/td>\n(5.2<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNet charge-offs as a percent of average finance receivables<\/td>\n\u00a0<\/td>\n19.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal collected (principal, interest and late fees),\u00a0in thousands<\/em><\/td>\n$<\/td>\n522,988<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n501,692<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage total collected per active customer per month<\/td>\n$<\/td>\n563<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n536<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage percentage of finance receivables-current (excl. 1-2 day)<\/td>\n\u00a0<\/td>\n81.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAverage down-payment percentage<\/td>\n\u00a0<\/td>\n5.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Period End Data:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nStores open<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccounts over 30 days past due<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nActive customer count<\/td>\n\u00a0<\/td>\n103,663<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102,175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nPrincipal balance of finance receivables\u00a0(in thousands)<\/em><\/td>\n$<\/td>\n1,485,981<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,428,908<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nWeighted average total contract term<\/td>\n\u00a0<\/td>\n48.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Conference Call and Webcast<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

The Company will hold a conference call to discuss its quarterly results on Thursday, March 6, at 9:00 am ET. Participants may access the conference call via webcast using this link: Webcast Link<\/strong><\/a>. To participate via telephone, please register in advance using this Registration Link<\/strong><\/a>. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial in 10 minutes prior to the start time. A replay and transcript of the conference call and webcast will be available on-demand for 12 months.<\/p>\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n About America\u2019s Car-Mart, Inc.<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

America\u2019s\u00a0Car-Mart, Inc.\u00a0(the \u201cCompany\u201d) operates automotive dealerships in 12 states and is one of the largest publicly held automotive retailers in\u00a0the United States\u00a0focused exclusively on the \u201cIntegrated\u00a0Auto Sales\u00a0and Finance\u201d segment of the used car market. The Company emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in smaller cities throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. For more information about America\u2019s Car-Mart, including investor presentations, please visit our website at\u00a0www.car-mart.com<\/a>.<\/p>\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Financial Measures<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

This news release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP).\u00a0We present total debt, net of total cash, to finance receivables, a non-GAAP measure, as a supplemental measure of our performance. We believe total debt, net of total cash, to finance receivables is a useful measure to monitor leverage and evaluate balance sheet risk. This measure should not be considered in isolation or as a substitute for reported GAAP results because it may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. We strongly encourage investors to review our consolidated financial statements included in publicly filed reports in their entirety and not rely solely on any one, single financial measure or communication. The most directly comparable GAAP financial measure, as well as a reconciliation to the comparable GAAP financial measure, for non-GAAP financial measures are presented in the tables of this release.<\/p>\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Forward-Looking Statements<\/p>\n

<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

This news release contains \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements address the Company\u2019s future objectives, plans and goals, as well as the Company\u2019s intent, beliefs and current expectations and projections regarding future operating performance and can generally be identified by words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforesee,\u201d and other similar words or phrases. Specific events addressed by these forward-looking statements may include, but are not limited to:<\/p>\n