\nWorld Acceptance Corporation (NASDAQ: WRLD) today reported financial results for its first quarter of fiscal 2027.<\/p>\n
First<\/i> fiscal quarter highlights<\/i><\/b><\/p>\n
\nHighlights from the first quarter include:<\/p>\n
- \n
- \nNet income of $6.1 million or $1.33 per diluted share in the first quarter;<\/p>\n<\/li>\n
- \nAdjusted net income of $9.7 million or $2.12 per diluted share in the first quarter*;<\/p>\n<\/li>\n
- \nTotal revenues increased $6.4 million to $139.2 million, or 4.8%, compared to the same quarter of the prior fiscal year;<\/p>\n<\/li>\n
- \nGross loans outstanding increased 2.3% to $1.29 billion at June 30, 2026, from $1.26 billion at June 30, 2025;<\/p>\n<\/li>\n
- \nLoans 0-60 days past due on a recency basis decreased from 19.2% as of June 30, 2025 to 18.1% as of June 30, 2026; and<\/p>\n<\/li>\n
- \nLoans 61 days or more past due on a recency basis decreased from 5.4% as of June 30, 2025 to 5.2% as of June 30, 2026.<\/p>\n
*See “Non-GAAP Financial Measures” for a reconciliation to the most directly comparable GAAP measure.<\/i><\/li>\n<\/ul>\n
Portfolio results<\/i><\/b><\/p>\n
\nGross loans outstanding were $1.29 billion as of June 30, 2026, a 2.3% increase from the $1.26 billion of gross loans outstanding as of June 30, 2025.<\/p>\n
\nDuring the most recent quarter, borrowing by existing customers increased compared to the prior-year quarter, while borrowing by new customers declined. Refinanced customer loan volume increased 4.3% in the most recent quarter, compared to the same quarter of fiscal year 2026. New customer loan volume decreased 40.1%, compared to the same quarter of fiscal year 2026. At the end of the prior fiscal year, we tightened our underwriting of new customers given the proportion of new customers already in the portfolio and increasing macroeconomic uncertainty. As a result, our customer base decreased by 1.9% during the twelve-month period ended June 30, 2026, compared to an increase of 4.0% for the comparable period ended June 30, 2025. We have since expanded underwriting and expect to carefully increase new customer lending in the coming quarters.<\/p>\n
\nThe following table includes the volume of gross loan origination balances, excluding tax advance loans, by customer type for the following comparative quarterly periods:<\/p>\n
\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Q1 FY 2027<\/b><\/p>\n<\/td>\n
\n Q1 FY 2026<\/b><\/p>\n<\/td>\n
\n Q1 FY 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNew Customers<\/p>\n<\/td>\n
\n \n$24,930,044<\/p>\n<\/td>\n
\n \n$41,641,449<\/p>\n<\/td>\n
\n \n$31,834,005<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFormer Customers<\/p>\n<\/td>\n
\n \n$93,627,432<\/p>\n<\/td>\n
\n \n$96,035,870<\/p>\n<\/td>\n
\n \n$90,318,862<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRefinance Customers<\/p>\n<\/td>\n
\n \n$640,399,793<\/p>\n<\/td>\n
\n \n$613,829,939<\/p>\n<\/td>\n
\n \n$559,874,646<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nAs of June 30, 2026, the Company had 1,009 open branches. For branches open at least twelve months, same store gross loans increased 2.2% in the twelve-month period ended June 30, 2026, compared to a 1.1% increase for the twelve-month period ended June 30, 2025. For branches open throughout both periods, the customer base over the twelve-month period ended June 30, 2026, decreased 1.7%, compared to an increase of 5.9% for the twelve-month period ended June 30, 2025.<\/p>\n
Three-month financial results<\/i><\/b><\/p>\n
\nNet income for the first quarter of fiscal 2027 increased by $4.5 million to $6.1 million from net income of $1.6 million for the same quarter of the prior fiscal year. Net income per diluted share was $1.33 in the first quarter of fiscal 2027, compared to $0.30 of net income per diluted share for the same quarter of the prior year. The first quarter of fiscal 2027 included $4.6 million ($3.6 million after tax) in expense related to the CEO transition. Adjusted net income, a non-GAAP financial measure that excludes the after-tax impact of the CEO transition expense, was $9.7 million for the first quarter of fiscal 2027 and adjusted net income per diluted share was $2.12. A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure is provided under “Non-GAAP Financial Measures” below.<\/p>\n
\nTotal revenues for the first quarter of fiscal 2027 increased to $139.2 million, a 4.8% increase from $132.8 million for the prior fiscal year. Interest and fee income increased 5.4%, from $115.3 million in the first quarter of fiscal 2026 to $121.5 million in the first quarter of fiscal 2027. Insurance income remained essentially unchanged at $11.3 million in the first quarter of fiscal 2027, compared to $11.5 million in the first quarter of fiscal 2026. Interest and insurance yields for the quarter ended June 30, 2026, increased 91 basis points as compared to the quarter ended June 30, 2025. Other income increased $0.5 million, or 7.7%, to $6.4 million in the first quarter of fiscal 2027, as compared to $5.9 million in the first quarter of fiscal 2026.<\/p>\n
\nThe Company accrues for expected losses with a current expected credit loss (“CECL”) methodology, which requires us to create a provision for credit losses on the day we originate the loan. The provision for credit losses decreased $6.7 million to $43.8 million, from $50.5 million when comparing the first quarter of fiscal 2027 to the first quarter of fiscal 2026. The table below itemizes the key components of the CECL allowance and provision impact during the quarter.<\/p>\n
\n
\n \n CECL Allowance and Provision (Dollars in millions)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Q1 FY 2027<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Q1 FY 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Difference<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Reconciliation<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nBeginning Allowance – March 31<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$112.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$103.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$8.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange due to Growth<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(2.1)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(2.1)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange due to Expected Loss Rate on Performing Loans<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$5.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(4.3)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(4.3)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange due to 90 days past due<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(2.1)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(3.3)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnding Allowance – June 30<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$112.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$109.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(5.2)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet Charge-offs<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$43.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$44.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(1.5)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(1.5)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$43.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$50.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(6.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(6.7)<\/p>\n<\/td>\n<\/tr>\n
\n \n Note: The change in allowance for the quarter plus net charge-offs for the quarter equals the provision for the quarter (see above reconciliation).<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nNet charge-offs for the quarter decreased $1.5 million, from $44.8 million in the first quarter of fiscal 2026, to $43.3 million in the first quarter of fiscal 2027. Net charge-offs as a percentage of average net loans receivable on an annualized basis decreased to 18.2% in the first quarter of fiscal 2027 from 19.4% in the first quarter of fiscal 2026. Net charge-offs during the quarter include recoveries of $1.6 million related to the sale of prior charge-offs.<\/p>\n
\nAccounts 61 days or more past due decreased to 5.2% on a recency basis at June 30, 2026, compared to 5.4% at June 30, 2025. Recency delinquency on accounts 0 to 60 days past due decreased from 19.2% at June 30, 2025, to 18.1% at June 30, 2026. Our allowance for credit losses as a percentage of net loans receivable was 11.8% at June 30, 2026, compared to 11.6% at June 30, 2025.<\/p>\n
\nThe table below has been updated to reflect the customer tenure-based methodology, which aligns with our CECL methodology and illustrates changes in portfolio weighting.<\/p>\n
\n
\n \n Gross Loan Balance By Customer Tenure at Origination<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n As of<\/b><\/p>\n<\/td>\n
\n Less Than 2 Years<\/b><\/p>\n<\/td>\n
\n More Than 2 Years<\/b><\/p>\n<\/td>\n
\n Total<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2021<\/p>\n<\/td>\n
\n \n$382,753,073<\/p>\n<\/td>\n
\n \n$840,444,842<\/p>\n<\/td>\n
\n \n$1,223,197,915<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2022<\/p>\n<\/td>\n
\n \n$522,860,576<\/p>\n<\/td>\n
\n \n$1,119,072,168<\/p>\n<\/td>\n
\n \n$1,641,932,744<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2023<\/p>\n<\/td>\n
\n \n$342,360,417<\/p>\n<\/td>\n
\n \n$1,055,724,428<\/p>\n<\/td>\n
\n \n$1,398,084,845<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2024<\/p>\n<\/td>\n
\n \n$255,485,267<\/p>\n<\/td>\n
\n \n$1,019,396,030<\/p>\n<\/td>\n
\n \n$1,274,881,297<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2025<\/p>\n<\/td>\n
\n \n$290,461,702<\/p>\n<\/td>\n
\n \n$973,963,799<\/p>\n<\/td>\n
\n \n$1,264,425,501<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2026<\/p>\n<\/td>\n
\n \n$307,010,805<\/p>\n<\/td>\n
\n \n$983,106,650<\/p>\n<\/td>\n
\n \n$1,290,117,455<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Year-Over-Year Growth (Decline) in Gross Loan Balance by Customer Tenure at Origination<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n 12 Month Period Ended<\/b><\/p>\n<\/td>\n
\n Less Than 2 Years<\/b><\/p>\n<\/td>\n
\n More Than 2 Years<\/b><\/p>\n<\/td>\n
\n Total<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2021<\/p>\n<\/td>\n
\n \n$27,316,000<\/p>\n<\/td>\n
\n \n$127,928,141<\/p>\n<\/td>\n
\n \n$155,244,141<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2022<\/p>\n<\/td>\n
\n \n$140,107,503<\/p>\n<\/td>\n
\n \n$278,627,326<\/p>\n<\/td>\n
\n \n$418,734,829<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2023<\/p>\n<\/td>\n
\n \n$(180,500,159)<\/p>\n<\/td>\n
\n \n$(63,347,740)<\/p>\n<\/td>\n
\n \n$(243,847,899)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2024<\/p>\n<\/td>\n
\n \n$(86,875,150)<\/p>\n<\/td>\n
\n \n$(36,328,398)<\/p>\n<\/td>\n
\n \n$(123,203,548)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2025<\/p>\n<\/td>\n
\n \n$34,976,435<\/p>\n<\/td>\n
\n \n$(45,432,231)<\/p>\n<\/td>\n
\n \n$(10,455,796)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2026<\/p>\n<\/td>\n
\n \n$16,549,103<\/p>\n<\/td>\n
\n \n$9,142,851<\/p>\n<\/td>\n
\n \n$25,691,954<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Portfolio Mix by Customer Tenure at Origination<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n As of<\/b><\/p>\n<\/td>\n
\n Less Than 2 Years<\/b><\/p>\n<\/td>\n
\n More Than 2 Years<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2021<\/p>\n<\/td>\n
\n \n31.3%<\/p>\n<\/td>\n
\n \n68.7%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2022<\/p>\n<\/td>\n
\n \n31.8%<\/p>\n<\/td>\n
\n \n68.2%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2023<\/p>\n<\/td>\n
\n \n24.5%<\/p>\n<\/td>\n
\n \n75.5%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2024<\/p>\n<\/td>\n
\n \n20.0%<\/p>\n<\/td>\n
\n \n80.0%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2025<\/p>\n<\/td>\n
\n \n23.0%<\/p>\n<\/td>\n
\n \n77.0%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n06\/30\/2026<\/p>\n<\/td>\n
\n \n23.8%<\/p>\n<\/td>\n
\n \n76.2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nGeneral and administrative (\u201cG&A\u201d) expenses increased $5.8 million, or 8.2%, to $76.1 million in the first quarter of fiscal 2027, compared to $70.4 million in the same quarter of the prior fiscal year. As a percentage of revenues, G&A expenses increased from 53.0% during the first quarter of fiscal 2026 to 54.7% during the first quarter of fiscal 2027. G&A expenses were negatively impacted by $4.6 million in CEO transition-related expenses.<\/p>\n
\nPersonnel expense increased $5.1 million, or 11.1%, during the first quarter of fiscal 2027 as compared to the first quarter of fiscal 2026. Personnel expenses were negatively impacted by $4.3 million in CEO transition expenses.<\/p>\n
\nSalary expense increased approximately $2.5 million, or 7.8%, during the quarter ended June 30, 2026, compared to the quarter ended June 30, 2025. Severance related costs increased salary expense by $2.1 million in the first quarter of fiscal 2027 compared to the first quarter of fiscal 2026. Our headcount as of June 30, 2026, remained relatively flat compared to June 30, 2025.<\/p>\n
\nBenefit expense decreased approximately $1.0 million, or 10.6%, when comparing the quarterly periods ended June 30, 2026 and 2025.<\/p>\n
\nIncentive expense increased $3.3 million in the first quarter of fiscal 2027 compared to the first quarter of fiscal 2026. The increase in incentive expense is primarily due to $2.0 million in CEO transition expense.<\/p>\n
\nOccupancy and equipment expense increased approximately $0.2 million, or 2.1%, when comparing the quarterly periods ended June 30, 2026 and 2025.<\/p>\n
\nAdvertising expense decreased $0.2 million, or 7.6%, in the first quarter of fiscal 2027 as compared to the first quarter of fiscal 2026 due to decreased spending on new customer acquisition programs.<\/p>\n
\nInterest expense for the quarter ended June 30, 2026, increased by $1.8 million, or 18.6%, from the corresponding quarter of the previous year. Interest expense primarily increased due to a 27.6% increase in average debt outstanding for the quarter, partially offset by a 6.3% decrease in the effective interest rate from 8.3% to 7.8%. The average debt outstanding increased from $456.2 million to $582.3 million, when comparing the quarters ended June 30, 2025 and 2026. The Company\u2019s debt to equity ratio increased to 1.6:1 at June 30, 2026, compared to 1.1:1 at June 30, 2025. As of June 30, 2026, the Company had $572.8 million of debt outstanding.<\/p>\n
\nOther key return ratios for the first quarter of fiscal 2027 included a 3.6% return on average assets and a return on average equity of 10.6% (both on a trailing twelve-month basis).<\/p>\n
\nThe Company repurchased 15,858 shares of its common stock at an aggregate purchase price of approximately $2.2 million during the first quarter of fiscal 2027. This is in addition to repurchases of 858,642 shares during fiscal 2026 at an aggregate purchase price of approximately $132.4 million. The Company repurchased 16.5% of its outstanding shares in fiscal 2026. As of June 30, 2026, the Company had approximately $10.0 million in aggregate remaining repurchase capacity under its current share repurchase program and $63.8 million in aggregate remaining repurchase capacity under the terms of its revolving credit facility (subject to further board approval). The Company repurchased 400,617 shares during fiscal 2025 at an aggregate purchase price of approximately $54.2 million. The Company had approximately 4.5 million common shares outstanding, excluding 140,250 unvested restricted shares, as of June 30, 2026.<\/p>\n
Non-GAAP financial measures<\/i><\/b><\/p>\n
\nFrom time-to-time the Company uses certain financial measures derived on a basis other than generally accepted accounting principles (\u201cGAAP\u201d), primarily by excluding from a comparable GAAP measure certain items the Company does not consider to be representative of its actual operating performance. Such financial measures qualify as \u201cnon-GAAP financial measures\u201d as defined in SEC rules. The Company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items and other infrequent charges. The Company may present these financial measures to investors because management believes they are useful to investors in evaluating the primary factors that drive the Company\u2019s core operating performance and provide greater transparency into the Company\u2019s results of operations. However, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components to understanding and assessing the Company\u2019s financial performance. Such non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company\u2019s GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP and are, thus, susceptible to varying calculations, any non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures of other companies.<\/p>\n
\nFor purposes of assessing performance, the Company will present adjusted net income and adjusted net income per diluted share to remove the after-tax impact of the CEO transition expense from the corresponding GAAP earnings metrics. Management believes these non-GAAP measures provide investors with useful supplemental information regarding the Company’s operating performance by excluding an item management does not consider indicative of ongoing operations.<\/p>\n
\nThis measure has limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP earnings or other income statement data prepared in accordance with GAAP. The following table reconciles GAAP net income to Adjusted net income:<\/p>\n
\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \nThree months ended June 30,<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes<\/p>\n<\/td>\n
\n $7,898,157<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nExpenses:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPersonnel<\/p>\n<\/td>\n
\n 4,317,348<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther<\/p>\n<\/td>\n
\n 324,061<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted income before income taxes<\/p>\n<\/td>\n
\n 12,539,566<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense at actual rate<\/p>\n<\/td>\n
\n 2,846,481<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted net income<\/p>\n<\/td>\n
\n $9,693,085<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average dilutive shares outstanding<\/p>\n<\/td>\n
\n 4,581,141<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted net income per common share, diluted<\/p>\n<\/td>\n
\n $2.12<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
About World Acceptance Corporation (World Finance)<\/i><\/b><\/p>\n
\nFounded in 1962, World Acceptance Corporation (NASDAQ: WRLD), is a people-focused finance company that provides personal installment loan solutions and personal tax preparation and filing services to over one million customers each year. Headquartered in Greenville, South Carolina, the Company operates more than 1,000 community-based World Finance branches across 16 states. The Company primarily serves a segment of the population that does not have ready access to credit; however, unlike many other lenders in this segment, we strive to work with our customers to understand their broader financial pictures, ensure they have the ability and stability to make payments, and help them achieve their financial goals. For more information, visit www.loansbyworld.com<\/a>.<\/p>\n
First<\/i> quarter conference call<\/i><\/b><\/p>\n
\n
\n \n WORLD ACCEPTANCE CORPORATION AND SUBSIDIARIES<\/b><\/p>\n
CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n
\n(unaudited and in thousands, except per share amounts)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \nThree months ended June 30,<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenues:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest and fee income<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 121,515<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n115,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInsurance and other income, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 17,694<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n17,472<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenues<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 139,209<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n132,775<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nExpenses:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for credit losses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 43,757<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n50,516<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative expenses:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPersonnel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 50,826<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n45,762<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOccupancy and equipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 12,035<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n11,786<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdvertising<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2,125<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,299<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangible assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 774<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n831<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 10,371<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9,683<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal general and administrative expenses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 76,131<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n70,361<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 11,423<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9,630<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal expenses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 131,311<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n130,507<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 7,898<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,268<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,791<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n684<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 6,107<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,584<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income per common share, diluted<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1.33<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.30<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average diluted shares outstanding<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 4,581<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,289<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n WORLD ACCEPTANCE CORPORATION AND SUBSIDIARIES<\/b><\/p>\n
CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n
\n(unaudited and in thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n June 30, 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \nMarch 31, 2026<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \nJune 30, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n ASSETS<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 10,420<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n6,071<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n3,019<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross loans receivable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,293,946<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,278,988<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,264,341<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nUnearned interest, insurance and fees<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n (336,721<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(325,064<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(326,215<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAllowance for credit losses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n (112,509<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(112,047<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(109,027<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoans receivable, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 844,716<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n841,877<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n829,099<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted cash<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 17,558<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,107<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes receivable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 7,793<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,421<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,629<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease right-of-use assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 72,782<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n71,527<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n74,572<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 17,220<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n17,431<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n19,138<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 37,111<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n41,241<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n29,905<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 60,632<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n38,669<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n42,432<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 7,371<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,371<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,371<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 3,436<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,209<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,564<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,079,039<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,054,120<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,024,836<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n LIABILITIES & SHAREHOLDERS’ EQUITY<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLiabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevolving credit facility<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 467,649<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n443,935<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n302,674<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWarehouse facility<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 105,182<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n143,293<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSenior unsecured notes payable, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \u2014<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n169,064<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease liability<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 75,240<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n73,965<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n77,087<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable and accrued expenses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 65,266<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n37,996<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n47,381<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred revenue (contract liability)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 3,522<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,926<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,027<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 716,859<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n703,115<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n599,233<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShareholders’ equity<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 362,180<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n351,005<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n425,603<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and shareholders’ equity<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,079,039<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,054,120<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,024,836<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n WORLD ACCEPTANCE CORPORATION AND SUBSIDIARIES<\/b><\/p>\n
SELECTED CONSOLIDATED STATISTICS<\/b><\/p>\n
\n(unaudited and in thousands, except percentages and branches)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \nThree months ended June 30,<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross loans receivable<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,293,946<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,264,341<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage gross loans receivable (1)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,280,587<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,239,483<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loans receivable (2)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 957,225<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n938,126<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage net loans receivable (3)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 950,211<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n922,484<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nExpenses as a percentage of total revenue:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for credit losses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 31.4<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n38.0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 54.7<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n53.0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 8.2<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income as a % of total revenue (4)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 13.9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9.0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoan volume (5)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 758,916<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n751,502<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet charge-offs as percent of average net loans receivable on an annualized basis<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 18.2<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n19.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReturn on average assets (trailing 12 months)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 3.6<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7.8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReturn on average equity (trailing 12 months)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 10.6<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n19.1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBranches opened or acquired (merged or closed), net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \u2014<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(10<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBranches open (at period end)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,009<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n_______________________________________________________<\/p>\n<\/td>\n<\/tr>\n
\n \n (1)<\/sup><\/p>\n<\/td>\n
\n \nAverage gross loans receivable is determined by averaging month-end gross loans receivable over the indicated period.<\/p>\n<\/td>\n<\/tr>\n
\n \n (2)<\/sup><\/p>\n<\/td>\n
\n \nNet loans receivable is defined as gross loans receivable less unearned interest and deferred fees.<\/p>\n<\/td>\n<\/tr>\n
\n \n (3)<\/sup><\/p>\n<\/td>\n
\n \nAverage net loans receivable is determined by averaging month-end gross loans receivable less unearned interest and deferred fees over the indicated period.<\/p>\n<\/td>\n<\/tr>\n
\n \n (4)<\/sup><\/p>\n<\/td>\n
\n \nOperating income is computed as total revenues less provision for credit losses and general and administrative expenses.<\/p>\n<\/td>\n<\/tr>\n
\n \n (5)<\/sup><\/p>\n<\/td>\n
\n \nLoan volume includes all loan balances originated by the Company. It does not include loans purchased through acquisitions.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260724682807\/en\/<\/a><\/span><\/p>\n
\nJohn L. Calmes, Jr.
\n
Executive VP, Chief Financial & Strategy Officer, and Treasurer
\n
(864) 298-9800<\/p>\nKEYWORDS:<\/b> South Carolina United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Banking Personal Finance Professional Services Finance<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260724682807\/en\/734716\/3\/World_Acceptance_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n