America's Car-Mart (CRMT) 10-Q 2 Sep 22 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jul. 31, 2022	Aug. 29, 2022
Document Information [Line Items]
Entity Central Index Key	0000799850
Entity Registrant Name	AMERICAS CAR-MART INC
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2022
Document Transition Report	false
Entity File Number	0-14939
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	63-0851141
Entity Address, Address Line One	1805 North 2nd Street, Suite 401
Entity Address, City or Town	Rogers
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72756
City Area Code	479
Local Phone Number	464-9944
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CRMT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,367,605

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Cash and cash equivalents	$ 4,362	$ 6,916
Restricted cash	37,521	35,671
Accrued interest on finance receivables	5,032	4,926
Finance receivables, net	919,458	854,290
Inventory	145,181	115,302
Income tax receivable, net	0	274
Prepaid expenses and other assets	9,748	9,044
Right-of-use asset	59,822	58,828
Goodwill	8,623	8,623
Property and equipment, net	58,526	51,438
Total Assets	1,248,273	1,145,312
Liabilities:
Accounts payable	29,380	20,055
Income tax payable, net	328	0
Accrued liabilities	31,100	32,630
Deferred income tax liabilities, net	31,315	28,233
Lease liability	62,688	61,481
Non-recourse notes payable	323,105	395,986
Revolving line of credit	188,921	44,670
Total liabilities	767,192	675,546
Commitments and contingencies (Note J)
Mezzanine equity:
Mandatorily redeemable preferred stock	400	400
Equity:
Preferred stock, par value $.01 per share, 1,000,000 shares authorized; none issued or outstanding	0	0
Common stock, par value $.01 per share, 50,000,000 shares authorized; 13,695,669 and 13,642,185 issued at July 31, 2022 and April 30, 2022, respectively, of which 6,367,605 and 6,371,977 were outstanding at July 31, 2022 and April 30, 2022, respectively	137	136
Additional paid-in capital	106,391	103,113
Retained earnings	671,474	658,242
Less: Treasury stock, at cost, 7,328,064 and 7,270,208 shares at July 31, 2022 and April 30, 2022, respectively	(297,421)	(292,225)
Total stockholders' equity	480,581	469,266
Non-controlling interest	100	100
Total equity	480,681	469,366
Total Liabilities, Mezzanine Equity and Equity	1,248,273	1,145,312
Payment Protection Plan [Member]
Liabilities:
Deferred revenue	46,896	43,936
Service Contract [Member]
Liabilities:
Deferred revenue	$ 53,459	$ 48,555

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jul. 31, 2022	Apr. 30, 2022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	13,695,669	13,642,185
Common stock, shares outstanding (in shares)	6,367,605	6,371,977
Treasury stock, shares (in shares)	7,328,064	7,270,208

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Sales	$ 300,540	$ 246,742
Interest and other income	44,342	33,587
Total revenues	344,882	280,329
Costs and expenses:
Cost of sales	193,115	152,764
Selling, general and administrative	43,234	38,800
Provision for credit losses	82,903	54,108
Interest expense	7,345	1,982
Depreciation and amortization	1,151	915
Loss on disposal of property and equipment	8	2
Total costs and expenses	327,756	248,571
Income before taxes	17,126	31,758
Provision for income taxes	3,884	6,791
Net income	13,242	24,967
Less: Dividends on mandatorily redeemable preferred stock	(10)	(10)
Net income attributable to common stockholders	$ 13,232	$ 24,957
Earnings per share:
Basic (in dollars per share)	$ 2.08	$ 3.78
Diluted (in dollars per share)	$ 2	$ 3.57
Weighted average number of shares used in calculation:
Basic (in shares)	6,373,326	6,604,194
Diluted (in shares)	6,601,586	6,997,935

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Net income	$ 13,242	$ 24,967
Adjustments to reconcile net income to net cash used in operating activities:
Provision for credit losses	82,903	54,108
Losses on claims for accident protection plan	6,108	4,518
Depreciation and amortization	1,151	915
Amortization of debt issuance costs	1,955	120
Loss on disposal of property and equipment	8	2
Stock based compensation	1,978	2,972
Deferred income taxes	3,082	1,972
Excess tax benefit from share based compensation	206	644
Change in operating assets and liabilities:
Finance receivable originations	(287,416)	(234,893)
Finance receivable collections	103,879	97,342
Accrued interest on finance receivables	(106)	(162)
Inventory	(521)	683
Prepaid expenses and other assets	(703)	(737)
Accounts payable and accrued liabilities	6,900	2,295
Income taxes, net	396	4,175
Net cash used in operating activities	(59,074)	(31,395)
Investing Activities:
Purchase of property and equipment	(8,248)	(1,689)
Net cash used in investing activities	(8,248)	(1,689)
Financing Activities:
Exercise of stock options	1,216	(1,007)
Issuance of common stock	85	81
Purchase of common stock	(5,196)	(11,618)
Dividend payments	(10)	(10)
Change in cash overdrafts	1,108	(316)
Debt issuance costs	(89)	0
Payments on note payable	(74,532)	0
Proceeds from revolving line of credit	148,386	76,335
Payments on revolving line of credit	(4,350)	(30,555)
Net cash provided by financing activities	66,618	32,910
Decrease in cash, cash equivalents, and restricted cash	(704)	(174)
Cash, cash equivalents, and restricted cash beginning of period	42,587	2,893
Cash, cash equivalents, and restricted cash end of period	41,883	2,719
Accident Protection Plan [Member]
Change in operating assets and liabilities:
Increase (decrease) in deferred revenue	2,960	3,084
Service Contract [Member]
Change in operating assets and liabilities:
Increase (decrease) in deferred revenue	$ 4,904	$ 6,600

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Apr. 30, 2021	13,591,889
Balance at Apr. 30, 2021	$ 136	$ 98,812	$ 564,975	$ (257,527)	$ 100	$ 406,496
Issuance of common stock (in shares)	673
Issuance of common stock	$ 0	81	0	0	0	81
Stock options exercised (in shares)	15,281
Stock options exercised	$ 0	(1,007)	0	0	0	(1,007)
Purchase of treasury shares	0	0	0	(11,618)	0	(11,618)
Stock based compensation	0	2,972	0	0	0	2,972
Dividends on subsidiary preferred stock	0	0	(10)	0	0	(10)
Net income	$ 0	0	24,967	0	0	24,967
Balance (in shares) at Jul. 31, 2021	13,607,843
Balance at Jul. 31, 2021	$ 136	100,858	589,932	(269,145)	100	421,881
Balance (in shares) at Apr. 30, 2022	13,642,185
Balance at Apr. 30, 2022	$ 136	103,113	658,242	(292,225)	100	469,366
Issuance of common stock (in shares)	30,484
Issuance of common stock	$ 1	84	0	0	0	85
Stock options exercised (in shares)	23,000
Stock options exercised	$ 0	1,216	0	0	0	1,216
Purchase of treasury shares	0	0	0	(5,196)	0	(5,196)
Stock based compensation	0	1,978	0	0	0	1,978
Dividends on subsidiary preferred stock	0	0	(10)	0	0	(10)
Net income	$ 0	0	13,242	0	0	13,242
Balance (in shares) at Jul. 31, 2022	13,695,669
Balance at Jul. 31, 2022	$ 137	$ 106,391	$ 671,474	$ (297,421)	$ 100	$ 480,681

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) - shares	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Purchase of treasury shares (in shares)	57,856	81,742

Note A - Organization and Busin

Note A - Organization and Business	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	A Organization and Business America’s Car-Mart, Inc., a Texas corporation (the “Company”), is one not July 31, 2022,

Note B - Summary of Significant

Note B - Summary of Significant Accounting Policies	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	B Summary of Significant Accounting Policies General The accompanying condensed consolidated balance sheet as of April 30, 2022, July 31, 2022 2021, 10 10 X. not three July 31, 2022 not may April 30, 2023. 10 April 30, 2022. Principles of Consolidation The condensed consolidated financial statements include the accounts of America’s Car-Mart, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated. Segment Information Each dealership is an operating segment with its results regularly reviewed by the Company’s chief operating decision maker in an effort to make decisions about resources to be allocated to the segment and to assess its performance. Individual dealerships meet the aggregation criteria for reporting purposes under the current accounting guidance. The Company operates in the Integrated Auto Sales and Finance segment of the used car market, also referred to as the Integrated Auto Sales and Finance industry. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Company’s products and services, including the actual servicing of the contracts as well as the regulatory environment in which the Company operates, all have similar characteristics. Each individual dealership is similar in nature and only engages in the selling and financing of used vehicles. All individual dealerships have similar operating characteristics. As such, individual dealerships have been aggregated into one Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Significant estimates include, but are not Concentration of Risk The Company provides financing in connection with the sale of substantially all of its vehicles. These sales are made primarily to customers residing in Alabama, Arkansas, Georgia, Illinois, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas, with approximately 28.3% of current period revenues resulting from sales to Arkansas customers. As of July 31, 2022, one September 2024. Restrictions on Distributions/Dividends The Company’s revolving credit facilities generally restrict distributions by the Company to its shareholders. The distribution limitations under the credit facilities allow the Company to repurchase the Company’s stock so long as either: (a) the aggregate amount of such repurchases after September 30, 2021 not not twelve Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three Restricted Cash Restricted cash is related to the financing and securitization transaction discussed below and is held by the securitization trust. Restricted cash from collections on auto finance receivables includes collections of principal, interest, and fee payments on auto finance receivables that are restricted for payment to holders of non-recourse notes payable pursuant to the applicable agreements. The restricted cash on deposit in reserve accounts is for the benefit of holders of non-recourse notes payable, and these funds are not Restricted cash consisted of the following at July 31, 2022 April 30, 2022: (In thousands) July 31, 2022 April 30, 2022 Restricted cash from collections on auto finance receivables $ 26,066 $ 24,242 Restricted cash on deposit in reserve accounts 11,455 11,429 Restricted Cash $ 37,521 $ 35,671 Financing and Securitization Transactions The Company utilizes a term securitization to provide long-term funding for a portion of the auto finance receivables initially funded through the debt facilities. In these transactions, a pool of auto finance receivables is sold to a special purpose entity that, in turn, transfers the receivables to a special purpose securitization trust. The securitization trust issues asset-backed securities, secured or otherwise supported by the transferred receivables, and the proceeds from the sale of the asset-backed securities are used to finance the securitized receivables. The Company is required to evaluate term securitization trusts for consolidation. In the Company’s role as servicer, it has the power to direct the activities of the trust that most significantly impact the economic performance of the trust. In addition, the obligation to absorb losses (subject to limitations) and the rights to receive any returns of the trust, remain with the Company. Accordingly, the Company is the primary beneficiary of the trust and is required to consolidate it. The Company recognizes transfers of auto finance receivables into the term securitization as secured borrowings, which result in recording the auto finance receivables and the related non-recourse notes payable on our consolidated balance sheet. These auto finance receivables can only be used as collateral to settle obligations of the related non-recourse notes payable. The term securitization investors have no Finance Receivables, Repossessions and Charge-offs and Allowance for Credit Losses The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts carry an average interest rate of approximately 16.5% using the simple effective interest method including any deferred fees. Contract origination costs are not not July 31, 2022 April 30, 2022 . An account is considered delinquent when the customer is one not may July 31, 2022, 30 April 30, 2022. Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories, or higher debt-to-income ratios than permitted by traditional lenders. Contracts made with buyers who are restricted in their ability to obtain financing from traditional lenders generally entail a higher risk of delinquency, default and repossession, and higher losses than contracts made with buyers with better credit. At the time of originating a finance agreement, the Company requires customers to meet certain criteria that demonstrate their intent and ability to pay for the financed principal and interest on the vehicle they are purchasing. However, the Company recognizes that their customer base is at a higher risk of default given their impaired or limited credit histories. The Company strives to keep its delinquency percentages low, and not one three not Periodically, the Company enters into contract modifications with its customers to extend or modify the payment terms. The Company only enters into a contract modification or extension if it believes such action will increase the amount of money the Company will ultimately realize on the customer’s account and will increase the likelihood of the customer being able to pay off the vehicle contract. At the time of modification, the Company expects to collect amounts due including accrued interest at the contractual interest rate for the period of delay. No third The Company takes steps to repossess a vehicle when the customer becomes delinquent in his or her payments and management determines that timely collection of future payments is not not The Company maintains an allowance for credit losses on an aggregate basis at an amount it considers sufficient to cover losses expected to be incurred on the portfolio at the measurement date. The Company accrues an estimated loss for the amount it believes will not July 31, 2022, July 31, 2022, 2022, 19 July 31, 2022. ● The number of units repossessed or charged-off as a percentage of total units financed over specific historical periods of time from one five ● The average net repossession and charge-off loss per unit during the last eighteen 10 12 ● The timing of repossession and charge-off losses relative to the date of sale (i.e., how long it takes for a repossession or charge-off to occur) for repossessions and charge-offs occurring during the last eighteen ● An adjustment to the previous twelve ● A forecast of expected losses for a period of one 19 A historical point loss rate is produced by this analysis which is then adjusted to reflect current conditions and the Company’s reasonable and supportable forecast of expected losses for a period of one In most states, the Company offers retail customers who finance their vehicle the option of purchasing an accident protection plan product as an add-on to the installment sale contract. This product contractually obligates the Company to cancel the remaining principal outstanding for any contract where the retail customer has totaled the vehicle, as defined by the product, or the vehicle has been stolen. The Company periodically evaluates anticipated losses to ensure that if anticipated losses exceed deferred accident protection plan revenues, an additional liability is recorded for such difference. No July 31, 2022 April 30, 2022. Inventory Inventory consists of used vehicles and is valued at the lower of cost or net realizable value on a specific identification basis. Vehicle reconditioning costs are capitalized as a component of inventory. Repossessed vehicles and trade-in vehicles are recorded at fair value, which approximates wholesale value. The cost of used vehicles sold is determined using the specific identification method. Goodwill Goodwill reflects the excess of purchase price over the fair value of specifically identified net assets purchased. Goodwill and intangible assets deemed to have indefinite lives are not three July 31, 2022 2022 Goodwill totaled $8.6 million at July 31, 2022 April 30, 2022. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Expenditures for additions, remodels and improvements are capitalized. Costs of repairs and maintenance are expensed as incurred. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the lease period. The lease period includes the primary lease term plus any extensions that are reasonably assured. Depreciation is computed principally using the straight-line method generally over the following estimated useful lives: Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39 Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not Cash Overdraft As checks are presented for payment from the Company’s primary disbursement bank account, monies are automatically drawn against cash collections for the day and, if necessary, are drawn against one not Deferred Sales Tax Deferred sales tax represents a sales tax liability of the Company for vehicles sold on an installment basis in the states of Alabama and Texas. Under Alabama and Texas law for vehicles sold on an installment basis, the related sales tax is due as the payments are collected from the customer, rather than at the time of sale. Deferred sales tax liabilities are reflected in accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. Income Taxes Income taxes are accounted for under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates expected to apply in the years in which these differences are expected to be recovered or settled. The quarterly provision for income taxes is determined using an estimated annual effective tax rate, which is based on expected annual taxable income, statutory tax rates and the Company’s best estimate of nontaxable and nondeductible items of income and expense. The effective income tax rates were 22.7% and 21.4% for the three July 31, 2022 July 31, 2021, three July 31, 2022 three July 31, 2022 2021, Occasionally, the Company is audited by taxing authorities. These audits could result in proposed assessments of additional taxes. The Company believes that its tax positions comply in all material respects with applicable tax law. However, tax law is subject to interpretation, and interpretations by taxing authorities could be different from those of the Company, which could result in the imposition of additional taxes. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no 2018. The Company’s policy is to recognize accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company had no July 31, 2022 April 30, 2022. Revenue Recognition Revenues are generated principally from the sale of used vehicles, which in most cases includes a service contract and an accident protection plan product, as well as interest income and late fees earned on finance receivables. Revenues are net of taxes collected from customers and remitted to government agencies. Cost of vehicle sales include costs incurred by the Company to prepare the vehicle for sale including license and title costs, gasoline, transport services, and repairs. Revenues from the sale of used vehicles are recognized when the sales contract is signed, the customer has taken possession of the vehicle and, if applicable, financing has been approved. Revenues from the sale of vehicles sold at wholesale are recognized at the time the proceeds are received. Revenues from the sale of service contracts are recognized ratably over the expected duration of the product. Service contract revenues are included in sales and the related expenses are included in cost of sales. Accident protection plan revenues are initially deferred and then recognized to income using the “Rule of 78’s” Sales for the three July 31, 2022 2021 Three Months Ended (In thousands) 2022 2021 Sales – used autos $ 262,015 $ 216,590 Wholesales – third party 13,820 12,295 Service contract sales 15,640 10,161 Accident protection plan revenue 9,065 7,696 Total $ 300,540 $ 246,742 At July 31, 2022 2021, 90 three July 31, 2022 2021, three July 31, 2022 April 30, 2022 Earnings per Share Basic earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period plus dilutive common stock equivalents. The calculation of diluted earnings per share takes into consideration the potentially dilutive effect of common stock equivalents, such as outstanding stock options and non-vested restricted stock, which if exercised or converted into common stock would then share in the earnings of the Company. In computing diluted earnings per share, the Company utilizes the treasury stock method and anti-dilutive securities are excluded. Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock option awards. The Company may three July 31, 2022 2021, Treasury Stock Treasury stock may Recent Accounting Pronouncements Occasionally, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies which the Company will adopt as of the specified effective date. Unless otherwise discussed, the Company believes the implementation of recently issued standards which are not not

Note C - Finance Receivables, N

Note C - Finance Receivables, Net	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Financing Receivables [Text Block]	C Finance Receivables, Net The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts, which carry a fixed interest rate of 16.5% per annum (19.5% to 21.5% in Illinois), are collateralized by the vehicle sold and typically provide for payments over periods ranging from 18 54 one one one The components of finance receivables are as follows: (In thousands) July 31, 2022 April 30, 2022 Gross contract amount $ 1,490,047 $ 1,378,803 Less unearned finance charges (304,771 ) (277,306 ) Principal balance 1,185,276 1,101,497 Less allowance for credit losses (265,818 ) (247,207 ) Finance receivables, net $ 919,458 $ 854,290 Changes in the finance receivables, net are as follows: Three Months Ended (In thousands) 2022 2021 Balance at beginning of period $ 854,290 $ 625,119 Finance receivable originations 287,416 234,893 Finance receivable collections (103,879 ) (97,342 ) Provision for credit losses (82,903 ) (54,108 ) Losses on claims for accident protection plan (6,108 ) (4,518 ) Inventory acquired in repossession and accident protection plan claims (29,358 ) (15,451 ) Balance at end of period $ 919,458 $ 688,593 Changes in the finance receivables allowance for credit losses are as follows: Three Months Ended (In thousands) 2022 2021 Balance at beginning of period $ 247,207 $ 184,418 Provision for credit losses 82,903 54,108 Charge-offs, net of recovered collateral (64,292 ) (36,652 ) Balance at end of period $ 265,818 $ 201,874 Amounts recovered from previously written-off accounts were approximately $587,000 and $582,000 for the three July 31, 2022 2021, The factors which influenced management’s judgment in determining the amount of the current period provision for credit losses are described below. The historical level of actual charge-offs, net of recovered collateral, is the most important factor in determining the provision for credit losses. This is due to the fact that once a contract becomes delinquent the account is either made current by the customer, the vehicle is repossessed, or the account is written off if the collateral cannot be recovered. Net charge-offs as a percentage of average finance receivables increased to 5.6% for the three July 31, 2022, Collections and delinquency levels can have a significant effect on additions to the allowance and are reviewed frequently. Principle collections as a percentage of average finance receivables were 9.1% for the three July 31, 2022 first 2022 two 30 July 31, 2022 2021, In addition to the objective factors discussed above, the Company also considers macro-economic factors that would affect its customers non-discretionary income, such as changes in unemployment levels, gasoline prices, and prices for staple items to develop reasonable and supportable forecasts for the lifetime expected losses. These economic forecasts are utilized alongside historical loss information in order to estimate expected losses in the portfolio over the following twelve Credit quality information for finance receivables is as follows: (Dollars in thousands) July 31, 2022 April 30, 2022 July 31, 2021 Principal Percent of Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Balance Portfolio Current $ 990,391 83.56 % $ 958,808 87.05 % $ 767,375 86.18 % 3 - 29 days past due 151,953 12.82 % 109,873 9.97 % 93,712 10.53 % 30 - 60 days past due 33,576 2.83 % 22,477 2.04 % 19,328 2.17 % 61 - 90 days past due 6,675 0.56 % 7,360 0.67 % 6,096 0.68 % > 90 days past due 2,681 0.23 % 2,979 0.27 % 3,956 0.44 % Total $ 1,185,276 100.00 % $ 1,101,497 100.00 % $ 890,467 100.00 % Accounts one two may Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories, or higher debt-to-income ratios than permitted by traditional lenders. Contracts made with buyers who are restricted in their ability to obtain financing from traditional lenders generally entail a higher risk of delinquency, default and repossession, and higher losses than contracts made with buyers with better credit. The Company monitors customer scores, contract term length, down payment percentages, and collections for credit quality indicators. Three Months Ended 2022 2021 Average total collected per active customer per month $ 516 $ 487 Principal collected as a percent of average finance receivables 9.1 % 11.5 % Average down-payment percentage 5.4 % 6.9 % Average originating contract term (in months 42.8 38.8 July 31, 2022 July 31, 2021 Portfolio weighted average contract term, including modifications (in months 44.0 38.7 The reduction of principal collected was in line with the expected change due to the average term increases and two When customers apply for financing, the Company’s proprietary scoring model relies on the customers’ credit histories and certain application information to evaluate and rank their risk. The Company obtains credit histories and other credit data that includes information such as number of different addresses, age of oldest record, high risk credit activity, job time, time at residence and other factors. The application information that is used includes income, collateral value and down payment. The scoring models yield credit grades that represent the relative likelihood of repayment. Customers with the highest probability of repayment are 6 not The Company uses a combination of the initial credit grades and historical performance to monitor the credit quality of the finance receivables on an ongoing basis, and the accuracy of the scoring model is validated periodically. Loan performance is reviewed on a recurring basis to identify whether the assigned grades adequately reflect the customers’ likelihood of repayment. The following table presents a summary of finance receivables by credit quality indicator, as of July 31, 2022, As of July 31, 2022 (Dollars in thousands) Fiscal Year of Origination Prior to Customer Rating 2023 2022 2021 2020 2019 2019 Total % 1-2 $ 13,884 $ 28,789 $ 8,207 $ 1,283 $ 51 $ - $ 52,214 4.4 % 3-4 $ 95,459 $ 208,770 $ 64,427 $ 8,036 $ 313 $ 21 $ 377,026 31.8 % 5-6 $ 176,849 $ 420,932 $ 139,152 $ 18,122 $ 939 $ 42 $ 756,036 63.8 % Total $ 286,192 $ 658,491 $ 211,786 $ 27,441 $ 1,303 $ 63 $ 1,185,276 100.0 % The following table presents a summary of finance receivables by credit quality indicator, as of July 31, 2021, As of July 31, 2021 (Dollars in thousands) Fiscal Year of Origination Prior to Customer Rating 2022 2021 2020 2019 2018 2018 Total % 1-2 $ 13,031 $ 27,001 $ 8,695 $ 697 $ 35 $ - $ 49,459 5.6 % 3-4 $ 79,135 $ 176,149 $ 48,573 $ 4,551 $ 201 $ 23 $ 308,632 34.7 % 5-6 $ 137,320 $ 299,843 $ 83,001 $ 11,155 $ 977 $ 80 $ 532,376 59.7 % Total $ 229,486 $ 502,993 $ 140,269 $ 16,403 $ 1,213 $ 103 $ 890,467 100.0 %

Note D - Property and Equipment

Note D - Property and Equipment	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	D Property and Equipment A summary of property and equipment is as follows: (In thousands) July 31, 2022 April 30, 2022 Land $ 12,455 $ 11,749 Buildings and improvements 15,291 13,876 Furniture, fixtures and equipment 17,029 16,189 Leasehold improvements 39,092 36,392 Construction in progress 16,701 14,234 Less accumulated depreciation and amortization (42,042 ) (41,002 ) Total $ 58,526 $ 51,438

Note E - Accrued Liabilities

Note E - Accrued Liabilities	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	E Accrued Liabilities A summary of accrued liabilities is as follows: (In thousands) July 31, 2022 April 30, 2022 Employee compensation $ 9,560 $ 12,865 Cash overdrafts (see Note B) 1,108 - Deferred sales tax (see Note B) 7,797 7,388 Reserve for APP claims 4,561 4,761 Fair value of contingent consideration 3,544 3,544 Health insurance payable 1,075 1,041 Accrued interest payable 881 813 Other 2,574 2,218 Total $ 31,100 $ 32,630

Note F - Debt

Note F - Debt	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	F Debt A summary of debt is as follows: (In thousands) July 31, 2022 April 30, 2022 Non-recourse notes payable $ 325,468 $ 399,994 Debt issuance costs (2,363 ) (4,008 ) Non-recourse notes payable, net $ 323,105 $ 395,986 Revolving lines of credit $ 190,710 $ 46,674 Debt issuance costs (1,789 ) (2,004 ) Revolving line of credit, net $ 188,921 $ 44,670 Total debt $ 512,026 $ 440,656 Revolving Line of Credit On September 30, 2019, September 30, 2022 On October 29, 2020, No. 1 No. 1, not 60 Amendment No. 1 No. 1 one not No. 1 one On December 31, 2020, $241 On February 10, 2021, No. 2 On September 29, 2021, No. 3 September 29, 2024 No. 3 On April 22, 2022, No. 4 No. 4 50% The revolving credit facilities are collateralized primarily by finance receivables and inventory, are cross collateralized and contain a guarantee by the Company. Interest is payable monthly under the revolving credit facilities. The credit facilities provide for four July 31, 2022 April 30, 2022. The Company was in compliance with the covenants at July 31, 2022. July 31, 2022, The Company recognized approximately $289,000 and $120,000 of amortization for the three July 31, 2022 2021, Non-Recourse Notes Payable The non-recourse notes payable were issued in four April 27, 2022 not April 20, 2029, may The Company recognized $1.7 million of amortization for the three July 31, 2022

Note G - Fair Value Measurement

Note G - Fair Value Measurements	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	G Fair Value Measurements Accounting Standards Codification (“ASC”) Topic 820, ASC Topic 820 820 three may ● Level 1 Inputs ● Level 2 1 not ● Level 3 no Because no The methodology and assumptions utilized to estimate the fair value of the Company’s financial instruments are as follows: Financial Instrument Valuation Methodology Cash, cash equivalents, and restricted cash The carrying amount is considered to be a reasonable estimate of fair value due to the short-term nature of the financial instruments (Level 1 Finance receivables, net The Company estimated the fair value of its receivables at what a third third third January 2019 third 2 Accounts payable The carrying amount is considered to be a reasonable estimate of fair value due to the short-term nature of the financial instrument (Level 2 Revolving line of credit The fair value approximates carrying value due to the variable interest rates charged on the borrowings, which reprice frequently (Level 2 Non-recourse notes payable The fair value was based upon inputs derived from prices for similar instruments at period end (Level 2 The estimated fair values, and related carrying amounts, of the financial instruments included in the Company’s financial statements at July 31, 2022 April 30, 2022 July 31, 2022 April 30, 2022 (In thousands) Carrying Fair Carrying Fair Cash and cash equivalents $ 4,362 $ 4,362 $ 6,916 $ 6,916 Restricted cash 37,521 37,521 35,671 35,671 Finance receivables, net 919,458 728,945 854,290 677,421 Accounts payable 29,380 29,380 20,055 20,055 Revolving line of credit 188,921 188,921 44,670 44,670 Non-recourse notes payable 323,105 323,105 395,986 395,986

Note H - Weighted Average Share

Note H - Weighted Average Shares Outstanding	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Weighted Average Shares Outstanding [Text Block]	H Weighted Average Shares Outstanding Weighted average shares of common stock outstanding used in the calculation of basic and diluted earnings per share were as follows: Three Months Ended 2022 2021 Weighted average shares outstanding-basic 6,373,326 6,604,194 Dilutive options and restricted stock 228,260 393,741 Weighted average shares outstanding-diluted 6,601,586 6,997,935 Antidilutive securities not included: Options 220,000 30,000 Restricted stock 5,132 -

Note I - Stock-based Compensati

Note I - Stock-based Compensation Plans	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	I Stock-Based Compensation The Company has stock-based compensation plans available to grant non-qualified stock options, incentive stock options and restricted stock to employees, directors and certain advisors of the Company. The stock-based compensation plans being utilized at July 31, 2022 three July 31, 2022 2021, Stock Option Plan The Company has options outstanding under a stock option plan approved by the shareholders, the Amended and Restated Stock Option Plan. The shareholders of the Company approved the Amended and Restated Stock Option Plan (the “Restated Option Plan”) on August 5, 2015, June 10, 2025 August 29, 2018, August 26, 2020, 200,000 August 30, 2022, not not ten 2023 2032. Restated Option Plan Minimum exercise price as a percentage of fair market value at date of grant 100% Last expiration date for outstanding options May 1, 2032 Shares available for grant at July 31, 2022 185,000 The fair value of options granted is estimated on the date of grant using the Black-Scholes option pricing model based on the assumptions in the table below. Three Months Ended 2022 2021 Expected terms (years) 5.5 5.5 Risk-free interest rate 2.92 % 0.86 % Volatility 51 % 51 % Dividend yield - - The expected term of the options is based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date. Volatility is based on historical volatility of the Company’s common stock. The Company has not not There were 30,000 options granted during the three July 31, 2022 2021, three July 31, 2022 2021 Stock option compensation expense was $1.6 million ($1.3 million after tax effects) and $2.8 million ($2.1 million after tax effects) for the three July 31, 2022 2021, July 31, 2022, The Company had the following options exercised for the periods indicated. The impact of these cash receipts is included in financing activities in the accompanying Condensed Consolidated Statements of Cash Flows. Three Months Ended (Dollars in thousands) 2022 2021 Options exercised 23,000 36,500 Cash received from option exercises $ 1,216 $ 251 Intrinsic value of options exercised $ 1,204 $ 3,565 During the quarter ended July 31, 2021, no July 31, 2022. The aggregate intrinsic value of outstanding options at July 31, 2022 2021 July 31, 2022, Stock Incentive Plan On August 5, 2015, June 10, 2025. August 29, 2018, may There were 7,132 restricted shares granted during the three July 31, 2022 three July 31, 2021. July 31, 2022. July 31, 2022 As of July 31, 2022, three July 31, 2022 2021, There were no 2022 first three 2023.

Note J - Commitments and Contin

Note J - Commitments and Contingencies	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	J Commitments and Contingencies The Company has entered into operating leases for approximately 81% of its dealership and office facilities. Generally, these leases are for periods of three five three July 31, 2022 2021, Scheduled amounts and timing of cash flows arising from operating lease payments as of July 31, 2022, July 31, 2022 Maturity of lease liabilities 2023 (remaining) $ 5,683 2024 7,248 2025 7,145 2026 6,575 2027 6,052 Thereafter $ 51,064 Total undiscounted operating lease payments 83,767 Less: imputed interest (21,079 ) Present value of operating lease liabilities $ 62,688 The Company has two July 31, 2022. Car-Mart of Arkansas and Colonial do not

Note K - Supplemental Cash Flow

Note K - Supplemental Cash Flow Information	3 Months Ended
	Jul. 31, 2022
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	K - Supplemental Cash Flow Information Supplemental cash flow disclosures are as follows: Three Months Ended (In thousands) 2022 2021 Supplemental disclosures: Interest paid $ 7,294 $ 1,587 Income taxes paid, net 199 - Non-cash transactions: Inventory acquired in repossession and accident protection plan claims 29,358 15,451 Net settlement option exercises - 2,445

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of America’s Car-Mart, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated.
Segment Reporting, Policy [Policy Text Block]	Segment Information Each dealership is an operating segment with its results regularly reviewed by the Company’s chief operating decision maker in an effort to make decisions about resources to be allocated to the segment and to assess its performance. Individual dealerships meet the aggregation criteria for reporting purposes under the current accounting guidance. The Company operates in the Integrated Auto Sales and Finance segment of the used car market, also referred to as the Integrated Auto Sales and Finance industry. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Company’s products and services, including the actual servicing of the contracts as well as the regulatory environment in which the Company operates, all have similar characteristics. Each individual dealership is similar in nature and only engages in the selling and financing of used vehicles. All individual dealerships have similar operating characteristics. As such, individual dealerships have been aggregated into one
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Significant estimates include, but are not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Risk The Company provides financing in connection with the sale of substantially all of its vehicles. These sales are made primarily to customers residing in Alabama, Arkansas, Georgia, Illinois, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas, with approximately 28.3% of current period revenues resulting from sales to Arkansas customers. As of July 31, 2022, one September 2024.
Line of Credit Facility, Dividend Restrictions [Policy Text Block]	Restrictions on Distributions/Dividends The Company’s revolving credit facilities generally restrict distributions by the Company to its shareholders. The distribution limitations under the credit facilities allow the Company to repurchase the Company’s stock so long as either: (a) the aggregate amount of such repurchases after September 30, 2021 not not twelve
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash is related to the financing and securitization transaction discussed below and is held by the securitization trust. Restricted cash from collections on auto finance receivables includes collections of principal, interest, and fee payments on auto finance receivables that are restricted for payment to holders of non-recourse notes payable pursuant to the applicable agreements. The restricted cash on deposit in reserve accounts is for the benefit of holders of non-recourse notes payable, and these funds are not Restricted cash consisted of the following at July 31, 2022 April 30, 2022: (In thousands) July 31, 2022 April 30, 2022 Restricted cash from collections on auto finance receivables $ 26,066 $ 24,242 Restricted cash on deposit in reserve accounts 11,455 11,429 Restricted Cash $ 37,521 $ 35,671
Financing and Securitization Transactions Policy [Policy Text Block]	Financing and Securitization Transactions The Company utilizes a term securitization to provide long-term funding for a portion of the auto finance receivables initially funded through the debt facilities. In these transactions, a pool of auto finance receivables is sold to a special purpose entity that, in turn, transfers the receivables to a special purpose securitization trust. The securitization trust issues asset-backed securities, secured or otherwise supported by the transferred receivables, and the proceeds from the sale of the asset-backed securities are used to finance the securitized receivables. The Company is required to evaluate term securitization trusts for consolidation. In the Company’s role as servicer, it has the power to direct the activities of the trust that most significantly impact the economic performance of the trust. In addition, the obligation to absorb losses (subject to limitations) and the rights to receive any returns of the trust, remain with the Company. Accordingly, the Company is the primary beneficiary of the trust and is required to consolidate it. The Company recognizes transfers of auto finance receivables into the term securitization as secured borrowings, which result in recording the auto finance receivables and the related non-recourse notes payable on our consolidated balance sheet. These auto finance receivables can only be used as collateral to settle obligations of the related non-recourse notes payable. The term securitization investors have no
Financing Receivable [Policy Text Block]	Finance Receivables, Repossessions and Charge-offs and Allowance for Credit Losses The Company originates installment sale contracts from the sale of used vehicles at its dealerships. These installment sale contracts carry an average interest rate of approximately 16.5% using the simple effective interest method including any deferred fees. Contract origination costs are not not July 31, 2022 April 30, 2022 . An account is considered delinquent when the customer is one not may July 31, 2022, 30 April 30, 2022. Substantially all of the Company’s automobile contracts involve contracts made to individuals with impaired or limited credit histories, or higher debt-to-income ratios than permitted by traditional lenders. Contracts made with buyers who are restricted in their ability to obtain financing from traditional lenders generally entail a higher risk of delinquency, default and repossession, and higher losses than contracts made with buyers with better credit. At the time of originating a finance agreement, the Company requires customers to meet certain criteria that demonstrate their intent and ability to pay for the financed principal and interest on the vehicle they are purchasing. However, the Company recognizes that their customer base is at a higher risk of default given their impaired or limited credit histories. The Company strives to keep its delinquency percentages low, and not one three not Periodically, the Company enters into contract modifications with its customers to extend or modify the payment terms. The Company only enters into a contract modification or extension if it believes such action will increase the amount of money the Company will ultimately realize on the customer’s account and will increase the likelihood of the customer being able to pay off the vehicle contract. At the time of modification, the Company expects to collect amounts due including accrued interest at the contractual interest rate for the period of delay. No third The Company takes steps to repossess a vehicle when the customer becomes delinquent in his or her payments and management determines that timely collection of future payments is not not The Company maintains an allowance for credit losses on an aggregate basis at an amount it considers sufficient to cover losses expected to be incurred on the portfolio at the measurement date. The Company accrues an estimated loss for the amount it believes will not July 31, 2022, July 31, 2022, 2022, 19 July 31, 2022. ● The number of units repossessed or charged-off as a percentage of total units financed over specific historical periods of time from one five ● The average net repossession and charge-off loss per unit during the last eighteen 10 12 ● The timing of repossession and charge-off losses relative to the date of sale (i.e., how long it takes for a repossession or charge-off to occur) for repossessions and charge-offs occurring during the last eighteen ● An adjustment to the previous twelve ● A forecast of expected losses for a period of one 19 A historical point loss rate is produced by this analysis which is then adjusted to reflect current conditions and the Company’s reasonable and supportable forecast of expected losses for a period of one In most states, the Company offers retail customers who finance their vehicle the option of purchasing an accident protection plan product as an add-on to the installment sale contract. This product contractually obligates the Company to cancel the remaining principal outstanding for any contract where the retail customer has totaled the vehicle, as defined by the product, or the vehicle has been stolen. The Company periodically evaluates anticipated losses to ensure that if anticipated losses exceed deferred accident protection plan revenues, an additional liability is recorded for such difference. No July 31, 2022 April 30, 2022.
Inventory, Policy [Policy Text Block]	Inventory Inventory consists of used vehicles and is valued at the lower of cost or net realizable value on a specific identification basis. Vehicle reconditioning costs are capitalized as a component of inventory. Repossessed vehicles and trade-in vehicles are recorded at fair value, which approximates wholesale value. The cost of used vehicles sold is determined using the specific identification method.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Goodwill reflects the excess of purchase price over the fair value of specifically identified net assets purchased. Goodwill and intangible assets deemed to have indefinite lives are not three July 31, 2022 2022 Goodwill totaled $8.6 million at July 31, 2022 April 30, 2022.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Expenditures for additions, remodels and improvements are capitalized. Costs of repairs and maintenance are expensed as incurred. Leasehold improvements are amortized over the shorter of the estimated life of the improvement or the lease period. The lease period includes the primary lease term plus any extensions that are reasonably assured. Depreciation is computed principally using the straight-line method generally over the following estimated useful lives: Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39 Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not
Cash Overdraft [Policy Text Block]	Cash Overdraft As checks are presented for payment from the Company’s primary disbursement bank account, monies are automatically drawn against cash collections for the day and, if necessary, are drawn against one not
Deferred Sales Tax [Policy Text Block]	Deferred Sales Tax Deferred sales tax represents a sales tax liability of the Company for vehicles sold on an installment basis in the states of Alabama and Texas. Under Alabama and Texas law for vehicles sold on an installment basis, the related sales tax is due as the payments are collected from the customer, rather than at the time of sale. Deferred sales tax liabilities are reflected in accrued liabilities on the Company’s Condensed Consolidated Balance Sheets.
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates expected to apply in the years in which these differences are expected to be recovered or settled. The quarterly provision for income taxes is determined using an estimated annual effective tax rate, which is based on expected annual taxable income, statutory tax rates and the Company’s best estimate of nontaxable and nondeductible items of income and expense. The effective income tax rates were 22.7% and 21.4% for the three July 31, 2022 July 31, 2021, three July 31, 2022 three July 31, 2022 2021, Occasionally, the Company is audited by taxing authorities. These audits could result in proposed assessments of additional taxes. The Company believes that its tax positions comply in all material respects with applicable tax law. However, tax law is subject to interpretation, and interpretations by taxing authorities could be different from those of the Company, which could result in the imposition of additional taxes. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no 2018. The Company’s policy is to recognize accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company had no July 31, 2022 April 30, 2022.
Revenue [Policy Text Block]	Revenue Recognition Revenues are generated principally from the sale of used vehicles, which in most cases includes a service contract and an accident protection plan product, as well as interest income and late fees earned on finance receivables. Revenues are net of taxes collected from customers and remitted to government agencies. Cost of vehicle sales include costs incurred by the Company to prepare the vehicle for sale including license and title costs, gasoline, transport services, and repairs. Revenues from the sale of used vehicles are recognized when the sales contract is signed, the customer has taken possession of the vehicle and, if applicable, financing has been approved. Revenues from the sale of vehicles sold at wholesale are recognized at the time the proceeds are received. Revenues from the sale of service contracts are recognized ratably over the expected duration of the product. Service contract revenues are included in sales and the related expenses are included in cost of sales. Accident protection plan revenues are initially deferred and then recognized to income using the “Rule of 78’s” Sales for the three July 31, 2022 2021 Three Months Ended (In thousands) 2022 2021 Sales – used autos $ 262,015 $ 216,590 Wholesales – third party 13,820 12,295 Service contract sales 15,640 10,161 Accident protection plan revenue 9,065 7,696 Total $ 300,540 $ 246,742 At July 31, 2022 2021, 90 three July 31, 2022 2021, three July 31, 2022 April 30, 2022
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share Basic earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income attributable to common stockholders by the average number of common shares outstanding during the period plus dilutive common stock equivalents. The calculation of diluted earnings per share takes into consideration the potentially dilutive effect of common stock equivalents, such as outstanding stock options and non-vested restricted stock, which if exercised or converted into common stock would then share in the earnings of the Company. In computing diluted earnings per share, the Company utilizes the treasury stock method and anti-dilutive securities are excluded.
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards at the date of grant over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock option awards. The Company may three July 31, 2022 2021,
Treasury Stock [Policy Text Block]	Treasury Stock Treasury stock may
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Occasionally, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies which the Company will adopt as of the specified effective date. Unless otherwise discussed, the Company believes the implementation of recently issued standards which are not not

Note B - Summary of Significa_2

Note B - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Restrictions on Cash and Cash Equivalents [Table Text Block]	(In thousands) July 31, 2022 April 30, 2022 Restricted cash from collections on auto finance receivables $ 26,066 $ 24,242 Restricted cash on deposit in reserve accounts 11,455 11,429 Restricted Cash $ 37,521 $ 35,671
Property, Plant, and Equipment Useful Life [Table Text Block]	Furniture, fixtures and equipment (years) 3 to 7 Leasehold improvements (years) 5 to 15 Buildings and improvements (years) 18 to 39
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended (In thousands) 2022 2021 Sales – used autos $ 262,015 $ 216,590 Wholesales – third party 13,820 12,295 Service contract sales 15,640 10,161 Accident protection plan revenue 9,065 7,696 Total $ 300,540 $ 246,742

Note C - Finance Receivables,_2

Note C - Finance Receivables, Net (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(In thousands) July 31, 2022 April 30, 2022 Gross contract amount $ 1,490,047 $ 1,378,803 Less unearned finance charges (304,771 ) (277,306 ) Principal balance 1,185,276 1,101,497 Less allowance for credit losses (265,818 ) (247,207 ) Finance receivables, net $ 919,458 $ 854,290
Change In Finance Receivables Net [Table Text Block]	Three Months Ended (In thousands) 2022 2021 Balance at beginning of period $ 854,290 $ 625,119 Finance receivable originations 287,416 234,893 Finance receivable collections (103,879 ) (97,342 ) Provision for credit losses (82,903 ) (54,108 ) Losses on claims for accident protection plan (6,108 ) (4,518 ) Inventory acquired in repossession and accident protection plan claims (29,358 ) (15,451 ) Balance at end of period $ 919,458 $ 688,593
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Three Months Ended (In thousands) 2022 2021 Balance at beginning of period $ 247,207 $ 184,418 Provision for credit losses 82,903 54,108 Charge-offs, net of recovered collateral (64,292 ) (36,652 ) Balance at end of period $ 265,818 $ 201,874
Financing Receivable, Past Due [Table Text Block]	(Dollars in thousands) July 31, 2022 April 30, 2022 July 31, 2021 Principal Percent of Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Balance Portfolio Current $ 990,391 83.56 % $ 958,808 87.05 % $ 767,375 86.18 % 3 - 29 days past due 151,953 12.82 % 109,873 9.97 % 93,712 10.53 % 30 - 60 days past due 33,576 2.83 % 22,477 2.04 % 19,328 2.17 % 61 - 90 days past due 6,675 0.56 % 7,360 0.67 % 6,096 0.68 % > 90 days past due 2,681 0.23 % 2,979 0.27 % 3,956 0.44 % Total $ 1,185,276 100.00 % $ 1,101,497 100.00 % $ 890,467 100.00 %
Financing Receivable Credit Quality Indicators [Table Text Block]	Three Months Ended 2022 2021 Average total collected per active customer per month $ 516 $ 487 Principal collected as a percent of average finance receivables 9.1 % 11.5 % Average down-payment percentage 5.4 % 6.9 % Average originating contract term (in months 42.8 38.8 July 31, 2022 July 31, 2021 Portfolio weighted average contract term, including modifications (in months 44.0 38.7
Schedule of Financing Receivable by Fiscal Year of Origination [Table Text Block]	As of July 31, 2022 (Dollars in thousands) Fiscal Year of Origination Prior to Customer Rating 2023 2022 2021 2020 2019 2019 Total % 1-2 $ 13,884 $ 28,789 $ 8,207 $ 1,283 $ 51 $ - $ 52,214 4.4 % 3-4 $ 95,459 $ 208,770 $ 64,427 $ 8,036 $ 313 $ 21 $ 377,026 31.8 % 5-6 $ 176,849 $ 420,932 $ 139,152 $ 18,122 $ 939 $ 42 $ 756,036 63.8 % Total $ 286,192 $ 658,491 $ 211,786 $ 27,441 $ 1,303 $ 63 $ 1,185,276 100.0 % As of July 31, 2021 (Dollars in thousands) Fiscal Year of Origination Prior to Customer Rating 2022 2021 2020 2019 2018 2018 Total % 1-2 $ 13,031 $ 27,001 $ 8,695 $ 697 $ 35 $ - $ 49,459 5.6 % 3-4 $ 79,135 $ 176,149 $ 48,573 $ 4,551 $ 201 $ 23 $ 308,632 34.7 % 5-6 $ 137,320 $ 299,843 $ 83,001 $ 11,155 $ 977 $ 80 $ 532,376 59.7 % Total $ 229,486 $ 502,993 $ 140,269 $ 16,403 $ 1,213 $ 103 $ 890,467 100.0 %

Note D - Property and Equipme_2

Note D - Property and Equipment (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In thousands) July 31, 2022 April 30, 2022 Land $ 12,455 $ 11,749 Buildings and improvements 15,291 13,876 Furniture, fixtures and equipment 17,029 16,189 Leasehold improvements 39,092 36,392 Construction in progress 16,701 14,234 Less accumulated depreciation and amortization (42,042 ) (41,002 ) Total $ 58,526 $ 51,438

Note E - Accrued Liabilities (T

Note E - Accrued Liabilities (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(In thousands) July 31, 2022 April 30, 2022 Employee compensation $ 9,560 $ 12,865 Cash overdrafts (see Note B) 1,108 - Deferred sales tax (see Note B) 7,797 7,388 Reserve for APP claims 4,561 4,761 Fair value of contingent consideration 3,544 3,544 Health insurance payable 1,075 1,041 Accrued interest payable 881 813 Other 2,574 2,218 Total $ 31,100 $ 32,630

Note F - Debt (Tables)

Note F - Debt (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	(In thousands) July 31, 2022 April 30, 2022 Non-recourse notes payable $ 325,468 $ 399,994 Debt issuance costs (2,363 ) (4,008 ) Non-recourse notes payable, net $ 323,105 $ 395,986 Revolving lines of credit $ 190,710 $ 46,674 Debt issuance costs (1,789 ) (2,004 ) Revolving line of credit, net $ 188,921 $ 44,670 Total debt $ 512,026 $ 440,656

Note G - Fair Value Measureme_2

Note G - Fair Value Measurements (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	July 31, 2022 April 30, 2022 (In thousands) Carrying Fair Carrying Fair Cash and cash equivalents $ 4,362 $ 4,362 $ 6,916 $ 6,916 Restricted cash 37,521 37,521 35,671 35,671 Finance receivables, net 919,458 728,945 854,290 677,421 Accounts payable 29,380 29,380 20,055 20,055 Revolving line of credit 188,921 188,921 44,670 44,670 Non-recourse notes payable 323,105 323,105 395,986 395,986

Note H - Weighted Average Sha_2

Note H - Weighted Average Shares Outstanding (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended 2022 2021 Weighted average shares outstanding-basic 6,373,326 6,604,194 Dilutive options and restricted stock 228,260 393,741 Weighted average shares outstanding-diluted 6,601,586 6,997,935 Antidilutive securities not included: Options 220,000 30,000 Restricted stock 5,132 -

Note I - Stock-based Compensa_2

Note I - Stock-based Compensation Plans (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Stock Option Plan Comparison [Table Text Block]	Restated Option Plan Minimum exercise price as a percentage of fair market value at date of grant 100% Last expiration date for outstanding options May 1, 2032 Shares available for grant at July 31, 2022 185,000
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended 2022 2021 Expected terms (years) 5.5 5.5 Risk-free interest rate 2.92 % 0.86 % Volatility 51 % 51 % Dividend yield - -
Schedule of Share-based Compensation, Stock Options, Exercises [Table Text Block]	Three Months Ended (Dollars in thousands) 2022 2021 Options exercised 23,000 36,500 Cash received from option exercises $ 1,216 $ 251 Intrinsic value of options exercised $ 1,204 $ 3,565

Note J - Commitments and Cont_2

Note J - Commitments and Contingencies (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturity of lease liabilities 2023 (remaining) $ 5,683 2024 7,248 2025 7,145 2026 6,575 2027 6,052 Thereafter $ 51,064 Total undiscounted operating lease payments 83,767 Less: imputed interest (21,079 ) Present value of operating lease liabilities $ 62,688

Note K - Supplemental Cash Fl_2

Note K - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Jul. 31, 2022
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended (In thousands) 2022 2021 Supplemental disclosures: Interest paid $ 7,294 $ 1,587 Income taxes paid, net 199 - Non-cash transactions: Inventory acquired in repossession and accident protection plan claims 29,358 15,451 Net settlement option exercises - 2,445

Note A - Organization and Bus_2

Note A - Organization and Business (Details Textual)	3 Months Ended
	Jul. 31, 2022
Number of Operating Subsidiaries	2
Number of Dealerships Operated	154

Note B - Summary of Significa_3

Note B - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		15 Months Ended
	Jul. 31, 2022 USD ($) shares	Jul. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)	Apr. 30, 2022 USD ($)	Apr. 30, 2021 USD ($)
Number of Reportable Segments	1
Average Finance Receivable Interest Rate	16.50%
Interest Receivable	$ 5,032,000			$ 4,926,000
Finance Receivables, Customer Payments Due Either Weekly or Bi-Weekly, Percentage	79%
Financing Receivable, Greater Than or Equal to 30 Days Past Due, Percent of Portfolio	3.60%			3%
Allowance for Credit Losses, Primary Factor Units Repossessed or Charged Off Evaluation Period (Day)	68 days
Financing Receivable, Weighted Average Total Contract Term (Month)	44 months
Financing Receivable, Remaining Contract Term (Month)	35 months
Financing Receivable, Allowance for Credit Loss, Ending Balance	$ 265,818,000	$ 201,874,000	$ 201,874,000	$ 247,207,000	$ 184,418,000
Finance Receivables, Allowance, Percent of Principle Balance	24.50%
Finance Receivable, Principal Balance	$ 1,185,276,000	$ 890,467,000	890,467,000	1,101,497,000
Percent of Chargeoffs in the First 10 to 11 Months of a Contract	50%
Average Age of Account at Charge-Off Date (Year)	12 years 1 month 6 days
Goodwill, Impairment Loss	$ 0		0
Goodwill, Ending Balance	$ 8,623,000			8,623,000
Effective Income Tax Rate Reconciliation, Percent, Total	22.70%	21.40%
Tax Adjustments, Settlements, and Unusual Provisions	$ 206,000	$ 644,000
Income Tax Examination, Penalties and Interest Accrued, Total	0			0
Financing Receivable, Recorded Investment Greater Than 90 Days Past Due	2,700,000	4,000,000	$ 4,000,000
Late Fee Income Generated by Servicing Financial Assets, Amount	970,000	$ 640,000
Contract with Customer, Liability, Revenue Recognized	$ 9,600,000
Treasury Stock Shares to Establish Reserve Account to Secure Service Contracts (in shares) | shares	10,000
ACM Insurance Company [Member]
Treasury Stock, Shares to Establish Reserve Account to Meet Regulatory Requirements for Insurance Company (in shares) | shares	14,000
Minimum [Member]
Allowance for Credit Losses, Primary Factor Units Repossessed or Charged Off Evaluation Period (Day)	1 year
Maximum [Member]
Allowance for Credit Losses, Primary Factor Units Repossessed or Charged Off Evaluation Period (Day)	5 years
Accident Protection Plan [Member]
Contract with Customer, Liability, Total	$ 46,900,000
Service Contract [Member]
Contract with Customer, Liability, Total	53,459,000			$ 48,555,000
Revolving Credit Facility [Member]
Line of Credit Facility, Distribution Limitations, Maximum Aggregate Amount of Stock Repurchases	$ 50,000,000
Line of Credit Facility, Distribution Limitations Percentage of Sum of Borrowing Bases	20%
Line of Credit Facility, Distribution Limitations Percentage of Consolidated Net Income	75%
Line of Credit Facility Distribution Limitations Minimum Percentage of Aggregate Funds Available	12.50%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Arkansas, USA [Member]
Concentration Risk, Percentage	28.30%

Note B - Summary of Significa_4

Note B - Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Restricted Cash	$ 37,521	$ 35,671
Collections On Auto Finance Receivables [Member]
Restricted Cash	26,066	24,242
Deposit in Reserve Accounts [Member]
Restricted Cash	$ 11,455	$ 11,429

Note B - Summary of Significa_5

Note B - Summary of Significant Accounting Policies - Property and Equipment, Estimated Useful Lives (Details)	3 Months Ended
	Jul. 31, 2022
Minimum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Minimum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	18 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Maximum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years

Note B - Summary of Significa_6

Note B - Summary of Significant Accounting Policies - Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Sales	$ 300,540	$ 246,742
Sales Used Autos [Member]
Sales	262,015	216,590
Wholesales Third Party [Member]
Sales	13,820	12,295
Service Contract Sales [Member]
Sales	15,640	10,161
Payment Protection Plan Revenue [Member]
Sales	$ 9,065	$ 7,696

Note C - Finance Receivables,_3

Note C - Finance Receivables, Net (Details Textual)	3 Months Ended
	Jul. 31, 2022 USD ($)	Jul. 31, 2021 USD ($)
Finance Receivables, Number of Loan Classes	1
Finance Receivables, Number of Risk Pools	1
Financing Receivable, Allowance for Credit Loss, Recovery	$ 587,000	$ 582,000
Net Charge Offs as Percentage of Average Finance Receivables	5.60%	4.30%
Collections as Percentage of Average Financing Receivables	9.10%	11.50%
Delinquencies Greater Than 30 Days as Percentage of Average Financing Receivables	3.60%	3.30%
Increase (Decrease) in Average Selling Price	$ 3,050
Increase (Decrease) in Average Selling Price, Percentage	19.80%
Maximum [Member]
Financing Receivable Interest Rate	16.50%
Financing Receivable Payment Period (Month)	54 months
Maximum [Member] | ILLINOIS
Financing Receivable Interest Rate	21.50%
Minimum [Member]
Financing Receivable Payment Period (Month)	18 months
Minimum [Member] | ILLINOIS
Financing Receivable Interest Rate	19.50%

Note C - Finance Receivables,_4

Note C - Finance Receivables, Net - Components of Finance Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021	Apr. 30, 2021
Gross contract amount	$ 1,490,047	$ 1,378,803
Less unearned finance charges	(304,771)	(277,306)
Principal balance	1,185,276	1,101,497	$ 890,467
Less allowance for credit losses	(265,818)	(247,207)	(201,874)	$ (184,418)
Finance receivables, net	$ 919,458	$ 854,290	$ 688,593	$ 625,119

Note C - Finance Receivables,_5

Note C - Finance Receivables, Net - Changes in Finance Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Balance	$ 854,290	$ 625,119
Finance receivable originations	287,416	234,893
Finance receivable collections	(103,879)	(97,342)
Provision for credit losses	(82,903)	(54,108)
Losses on claims for accident protection plan	(6,108)	(4,518)
Inventory acquired in repossession and accident protection plan claims	(29,358)	(15,451)
Balance	$ 919,458	$ 688,593

Note C - Finance Receivables,_6

Note C - Finance Receivables, Net - Changes in the Finance Receivables Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Balance	$ 247,207	$ 184,418
Provision for credit losses	82,903	54,108
Charge-offs, net of recovered collateral	(64,292)	(36,652)
Balance	$ 265,818	$ 201,874

Note C - Finance Receivables,_7

Note C - Finance Receivables, Net - Credit Quality Information for Finance Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021
Principle Balance	$ 1,185,276	$ 1,101,497	$ 890,467
Percent of Portfolio	100%	100%	100%
Financial Asset, Not Past Due [Member]
Principle Balance	$ 990,391	$ 958,808	$ 767,375
Percent of Portfolio	83.56%	87.05%	86.18%
Financial Asset, 3 to 29 Days Past Due [Member]
Principle Balance	$ 151,953	$ 109,873	$ 93,712
Percent of Portfolio	12.82%	9.97%	10.53%
Financial Asset, 30 to 59 Days Past Due [Member]
Principle Balance	$ 33,576	$ 22,477	$ 19,328
Percent of Portfolio	2.83%	2.04%	2.17%
Financial Asset, 60 to 89 Days Past Due [Member]
Principle Balance	$ 6,675	$ 7,360	$ 6,096
Percent of Portfolio	0.56%	0.67%	0.68%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Principle Balance	$ 2,681	$ 2,979	$ 3,956
Percent of Portfolio	0.23%	0.27%	0.44%

Note C - Finance Receivables,_8

Note C - Finance Receivables, Net - Financing Receivables Analysis (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Average total collected per active customer per month	$ 516	$ 487
Principal collected as a percent of average finance receivables	9.10%	11.50%
Average down-payment percentage	5.40%	6.90%
Average originating contract term (in months) (Month)	42 months 24 days	38 months 24 days
Portfolio weighted average contract term, including modifications (in months) (Month)	44 months	38 months 21 days

Note C - Finance Receivables,_9

Note C - Finance Receivables, Net - Finance Receivable Summarized by Fiscal Year of Origination (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021
2022, principal balance	$ 286,192		$ 229,486
2021, principal balance	658,491		502,993
2020, principal balance	211,786		140,269
2019, principal balance	27,441		16,403
2018, principal balance	1,303		1,213
Prior to 2018, principal balance	63		103
Principle Balance	$ 1,185,276	$ 1,101,497	$ 890,467
Principal balance, percentage	100%	100%	100%
2021, principal balance	$ 286,192		$ 229,486
2020, principal balance	658,491		502,993
2019, principal balance	211,786		140,269
2018, principal balance	27,441		16,403
2017, principal balance	1,303		1,213
Prior to 2017, principal balance	63		103
Customer Score 1-2 [Member]
2022, principal balance	13,884		13,031
2021, principal balance	28,789		27,001
2020, principal balance	8,207		8,695
2019, principal balance	1,283		697
2018, principal balance	51		35
Prior to 2018, principal balance	0		0
Principle Balance	$ 52,214		$ 49,459
Principal balance, percentage	4.40%		5.60%
2021, principal balance	$ 13,884		$ 13,031
2020, principal balance	28,789		27,001
2019, principal balance	8,207		8,695
2018, principal balance	1,283		697
2017, principal balance	51		35
Prior to 2017, principal balance	0		0
Customer Score 3-4 [Member]
2022, principal balance	95,459		79,135
2021, principal balance	208,770		176,149
2020, principal balance	64,427		48,573
2019, principal balance	8,036		4,551
2018, principal balance	313		201
Prior to 2018, principal balance	21		23
Principle Balance	$ 377,026		$ 308,632
Principal balance, percentage	31.80%		34.70%
2021, principal balance	$ 95,459		$ 79,135
2020, principal balance	208,770		176,149
2019, principal balance	64,427		48,573
2018, principal balance	8,036		4,551
2017, principal balance	313		201
Prior to 2017, principal balance	21		23
Customer Score 5-6 [Member]
2022, principal balance	176,849		137,320
2021, principal balance	420,932		299,843
2020, principal balance	139,152		83,001
2019, principal balance	18,122		11,155
2018, principal balance	939		977
Prior to 2018, principal balance	42		80
Principle Balance	$ 756,036		$ 532,376
Principal balance, percentage	63.80%		59.70%
2021, principal balance	$ 176,849		$ 137,320
2020, principal balance	420,932		299,843
2019, principal balance	139,152		83,001
2018, principal balance	18,122		11,155
2017, principal balance	939		977
Prior to 2017, principal balance	$ 42		$ 80

Note D - Property and Equipme_3

Note D - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Less accumulated depreciation and amortization	$ (42,042)	$ (41,002)
Property and equipment, net	58,526	51,438
Land [Member]
Property and equipment	12,455	11,749
Building and Building Improvements [Member]
Property and equipment	15,291	13,876
Furniture, Fixtures and Equipment [Member]
Property and equipment	17,029	16,189
Leasehold Improvements [Member]
Property and equipment	39,092	36,392
Construction in Progress [Member]
Property and equipment	$ 16,701	$ 14,234

Note E - Accrued Liabilities -

Note E - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Employee compensation	$ 9,560	$ 12,865
Cash overdrafts (see Note B)	1,108	0
Deferred sales tax (see Note B)	7,797	7,388
Reserve for APP claims	4,561	4,761
Fair value of contingent consideration	3,544	3,544
Health insurance payable	1,075	1,041
Accrued interest payable	881	813
Other	2,574	2,218
Accrued liabilities	$ 31,100	$ 32,630

Note F - Debt (Details Textual)

Note F - Debt (Details Textual) - USD ($)

3 Months Ended

Apr. 22, 2022

Sep. 29, 2021

Oct. 29, 2020

Jul. 31, 2022

Jul. 31, 2021

Apr. 30, 2022

Apr. 27, 2022

Sep. 28, 2021

Feb. 10, 2021

Feb. 09, 2021

Dec. 31, 2020

Sep. 30, 2019

Sep. 29, 2019

Amortization of Debt Issuance Costs and Discounts, Total

$ 1,955,000

$ 120,000

Notes Payable [Member]

Amortization of Debt Issuance Costs and Discounts, Total

$ 1,700,000

Weighted Average Fixed Coupon Rate, Percent

5.14%

Minimum Percent of Pool Balance

2%

Minimum [Member]

Financing Receivable Payment Period (Month)

18 months

Minimum [Member] | Medium-term Vehicle Contracts [Member]

Financing Receivable Payment Period (Month)

36 months

Minimum [Member] | Long-term Vehicle Contracts [Member]

Financing Receivable Payment Period (Month)

42 months

Maximum [Member]

Financing Receivable Payment Period (Month)

54 months

Maximum [Member] | Medium-term Vehicle Contracts [Member]

Financing Receivable Payment Period (Month)

42 months

Maximum [Member] | Long-term Vehicle Contracts [Member]

Financing Receivable Payment Period (Month)

60 months

BMO Harris Bank [Member] | Line of Credit [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 326,000,000

Debt Instrument, Covenant, Maximum Borrowing Base, Percentage of Financing Receivables

15%

Debt Instrument, Covenant, Maximum Aggregate Consideration for Businesses Acquired in One Year

$ 20,000,000

Debt Instrument, Covenant, Maximum Disposal of Real Estate

5,000,000

Debt Instrument, Covenant, Maximum Disposal Other Properties

$ 1,000,000

Line of Credit Facility, Total Increase in Borrowing Capacity

$ 85,000,000

Maximum Allowable Capital Expenditures By Credit Facilities Amendment

$ 25,000,000

$ 10,000,000

BMO Harris Bank [Member] | Medium-term Vehicle Contracts [Member] | Line of Credit [Member]

Debt Instrument, Covenant, Maximum Borrowing Base, Percentage of Financing Receivables

15%

BMO Harris Bank [Member] | Long-term Vehicle Contracts [Member] | Line of Credit [Member]

Debt Instrument, Covenant, Maximum Borrowing Base, Percentage of Financing Receivables

5%

Revolving Credit Facility [Member]

Line of Credit Facility, Additional Borrowing Capacity, Accordion Feature

$ 125,000,000

Amortization of Debt Issuance Costs and Discounts, Total

$ 289,000

$ 120,000

Revolving Credit Facility [Member] | BMO Harris Bank [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 600,000,000

$ 326,000,000

$ 241,000,000

$ 215,000,000

Line of Credit Facility, Additional Borrowing Capacity, Accordion Feature

100,000,000

100,000,000

50,000,000

Maximum Allowable Capital Expenditures By Credit Facilities Amendment

35,000,000

$ 25,000,000

Line of Credit Facility, Increase In Maximum Borrowing Capacity

$ 274,000,000

Line of Credit Facility, Unused Capacity, Commitment Fee Percentage

0.25%

Line of Credit, Unused Line Fee, Percent, Contingent Upon Amendment Terms

0.375%

Debt Instrument, Interest Rate, Effective Percentage

5.50%

2.85%

Revolving Credit Facility [Member] | BMO Harris Bank [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

Debt Instrument, Basis Spread on Variable Rate

2.35%

Revolving Credit Facility [Member] | BMO Harris Bank [Member] | Minimum [Member]

Debt Instrument, Interest Rate, Effective Percentage

2.25%

Colonial Revolving Credit Facility [Member] | BMO Harris Bank [Member]

Line of Credit Facility, Maximum Borrowing Capacity

231,000,000

$ 205,000,000

ACM TCM Revolving Credit Facility [Member] | BMO Harris Bank [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 10,000,000

Note F - Debt - Summary of Debt

Note F - Debt - Summary of Debt Facilities (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Non-recourse notes payable, net	$ 323,105	$ 395,986
Revolving line of credit, net	188,921	44,670
Total debt	512,026	440,656
Notes Payable [Member]
Debt facilities, gross	325,468	399,994
Debt issuance costs	(1,789)	(2,004)
Revolving lines of credit	325,468	399,994
Line of Credit [Member]
Debt facilities, gross	190,710	46,674
Debt issuance costs	(2,363)	(4,008)
Revolving lines of credit	190,710	46,674
Revolving line of credit, net	$ 188,921	$ 44,670

Note G - Fair Value Measureme_3

Note G - Fair Value Measurements (Details Textual)	1 Months Ended
	Jan. 31, 2019
Fair Value Inputs, Discount Rate, Intercompany Transactions	38.50%
Minimum [Member] | Measurement Input, Discount Rate [Member]
Receivables, Measurement Input	34%
Maximum [Member] | Measurement Input, Discount Rate [Member]
Receivables, Measurement Input	39%

Note G - Fair Value Measureme_4

Note G - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Reported Value Measurement [Member]
Cash and cash equivalents	$ 4,362	$ 6,916
Restricted cash	37,521	35,671
Finance receivables, net	919,458	854,290
Accounts payable	29,380	20,055
Revolving line of credit	188,921	44,670
Non-recourse notes payable	323,105	395,986
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	4,362	6,916
Restricted cash	37,521	35,671
Finance receivables, net	728,945	677,421
Accounts payable	29,380	20,055
Revolving line of credit	188,921	44,670
Non-recourse notes payable	$ 323,105	$ 395,986

Note H - Weighted Average Sha_3

Note H - Weighted Average Shares Outstanding - Weighted Average Shares of Common Stock Outstanding (Details) - shares	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Weighted average shares outstanding-basic (in shares)	6,373,326	6,604,194
Dilutive options and restricted stock (in shares)	228,260	393,741
Weighted average shares outstanding-diluted (in shares)	6,601,586	6,997,935
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	220,000	30,000
Restricted Stock [Member]
Antidilutive securities (in shares)	5,132	0

Note I - Stock-based Compensa_3

Note I - Stock-based Compensation Plans (Details Textual) - USD ($)					3 Months Ended
	Aug. 30, 2022	Aug. 26, 2020	Aug. 29, 2018	Aug. 05, 2015	Jul. 31, 2022	Jul. 31, 2021	Aug. 28, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)					30,000	30,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value					$ 1,200,000	$ 2,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised Through Net Settlements (in shares)						30,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reduction in Shares Issued to Satisfy the Exercise Price and Applicable Withholding Taxes (in shares)						21,219
Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised Through Net Settlements, Net of Shares to Satisfy the Exercise Price and Applicable Withholding Taxes (in shares)						8,781
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value					$ 14,400,000	$ 46,200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in shares)					268,400
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value					$ 8,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term (Year)					6 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share)					$ 77.40
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					185,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense					$ 1,600,000	2,800,000
Share-Based Payment Arrangement, Expense, after Tax					1,300,000	2,100,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 2,000,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					7 months 6 days
Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					3 years
Restated Option Plan [Member]
Share-Based Payment Arrangement, Expense					$ 2,000,000	3,000,000
Share-Based Payment Arrangement, Expense, after Tax					1,500,000	2,300,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)		200,000	200,000	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		2,200,000	2,000,000	1,800,000
Restated Option Plan [Member] | Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				10 years
Restated Option Plan [Member] | Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)	185,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	2,385,000
Stock Incentive Plan [Member]
Share-Based Payment Arrangement, Expense					313,000	197,000
Share-Based Payment Arrangement, Expense, after Tax					242,000	$ 151,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)			450,000				100,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 5,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)					158,323
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)					$ 60.68
Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					7,132
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					84,704
Stock Incentive Plan [Member] | Second Issuance of Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					4,500

Note I - Stock-based Compensa_4

Note I - Stock-based Compensation Plans - Stock Option Plan Comparison (Details)	3 Months Ended
	Jul. 31, 2022 shares
Minimum exercise price as a percentage of fair market value at date of grant	100%
Last expiration date for outstanding options	May 01, 2032
Shares available for grant at July 31, 2022 (in shares)	185,000

Note I - Stock-based Compensa_5

Note I - Stock-based Compensation Plans - Options Valuation Assumptions (Details)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Expected terms (years) (Year)	5 years 6 months	5 years 6 months
Risk-free interest rate	2.92%	0.86%
Volatility	51%	51%

Note I - Stock-based Compensa_6

Note I - Stock-based Compensation Plans - Options Exercised (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Options exercised (in shares)	23,000	36,500
Cash received from option exercises	$ 1,216	$ 251
Intrinsic value of options exercised	$ 1,204	$ 3,565

Note J - Commitments and Cont_3

Note J - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Operating Lease, Percent of Facilities Leased	81%
Operating Lease, Expense	$ 2,700,000	$ 2,000,000
Operating Lease, Weighted Average Discount Rate, Percent	4.40%
Letters of Credit Outstanding, Amount	$ 750,000
Minimum [Member] | Dealership Leases [Member]
Lessee, Operating Lease, Term of Contract (Year)	3 years
Maximum [Member] | Dealership Leases [Member]
Lessee, Operating Lease, Term of Contract (Year)	5 years

Note J - Commitments and Cont_4

Note J - Commitments and Contingencies - Future Lease Obligations (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
2023 (remaining)	$ 5,683
2024	7,248
2025	7,145
2026	6,575
2027	6,052
Thereafter	51,064
Total undiscounted operating lease payments	83,767
Less: imputed interest	(21,079)
Present value of operating lease liabilities	$ 62,688	$ 61,481

Note K - Supplemental Cash Fl_3

Note K - Supplemental Cash Flow Information - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Interest paid	$ 7,294	$ 1,587
Income taxes paid, net	199	0
Inventory acquired in repossession and accident protection plan claims	29,358	15,451
Net settlement option exercises	$ 0	$ 2,445