AMERICAS CARMART INC
For the period ended Jul 31, 2024. Filed Sep 16, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 31, 2024 · Filed Sep 16, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended July 31, 2024
Or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission file number:0-14939
AMERICA’S CAR-MART, INC.
(Exact name of registrant as specified in its charter)
| Texas | 63-0851141 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
1805 North 2nd Street, Suite 401**, Rogers, Arkansas 72756**
(Address of principal executive offices) (zip code)
(479)464-9944
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | CRMT | NASDAQ Global Select Market |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☒ | |
|---|---|---|
| Non-accelerated filer ☐ | Smaller reporting company ☐ | Emerging growth company ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
| Title of Each Class | Outstanding at September 12, 2024 |
|---|---|
| Common stock, par value $.01 per share | 6,396,757 |
AMERICA’S CAR-MART, INC.
TABLE OF CONTENTS
| Page | |||
|---|---|---|---|
| No. | |||
| PART I. | FINANCIAL INFORMATION | ||
| Item 1. | Financial Statements | 3 | |
| Condensed Consolidated Balance Sheets (Unaudited) – July 31, 2024 and April 30, 2024 | 3 | ||
| Condensed Consolidated Statements of Operations (Unaudited) – Three Months Ended July 31, 2024 and 2023 | 4 | ||
| Condensed Consolidated Statements of Cash Flows (Unaudited) – Three Months Ended July 31, 2024 and 2023 | 5 | ||
| Condensed Consolidated Statements of Equity (Unaudited) – Three Months Ended July 31, 2024 | 6 | ||
| Condensed Consolidated Statements of Equity (Unaudited) – Three Months Ended July 31, 2023 | 7 | ||
| Notes to Consolidated Financial Statements (Unaudited) | 8 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 24 | |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 34 | |
| Item 4. | Controls and Procedures | 34 | |
| PART II. | OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 35 | |
| Item 1A. | Risk Factors | 35 | |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 35 | |
| Item 3. | Defaults Upon Senior Securities | 35 | |
| Item 4. | Mine Safety Disclosure | 35 | |
| Item 5. | Other Information | 35 | |
| Item 6. | Exhibits | 36 | |
| SIGNATURES | 37 | ||
Part I. ** FINANCIAL INFORMATION
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.