America's Car-Mart (CRMT) 10-K 15 Jul 24 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Apr. 30, 2024	Jul. 11, 2024	Oct. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	0-14939
Entity Registrant Name	AMERICA’S CAR-MART, INC.
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 390,091,664
Entity Common Stock, Shares Outstanding (in shares)		6,396,757
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Tulsa, Oklahoma
Entity Central Index Key	0000799850
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Cash and cash equivalents	$ 5,522	$ 9,796
Restricted cash	88,925	58,238
Accrued interest on finance receivables	6,907	6,115
Finance receivables, net	1,098,591	1,063,460
Inventory	107,470	109,290
Income tax receivable, net	2,958	9,259
Prepaid expenses and other assets	31,276	26,039
Right-of-use asset	61,185	59,142
Goodwill	14,449	11,716
Property and equipment, net	60,361	61,682
Total Assets	1,477,644	1,414,737
Liabilities:
Accounts payable	21,379	27,196
Accrued liabilities	27,828	27,912
Deferred income tax liabilities, net	17,808	39,315
Lease liability	64,250	62,300
Non-recourse notes payable, net	553,629	471,367
Revolving line of credit, net	200,819	167,231
Total liabilities	1,006,494	915,790
Commitments and Contingencies
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; 13,727,013 and 13,701,468 issued at April 30, 2024 and April 30, 2023, respectively, of which 6,394,675 and 6,373,404 were outstanding at April 30, 2024 and April 30, 2023, respectively	137	137
Additional paid-in capital	113,930	109,929
Retained earnings	654,369	685,802
Less: Treasury stock, at cost, 7,332,338 and 7,328,064 shares at April 30, 2024 and April 30, 2023, respectively	(297,786)	(297,421)
Total stockholders' equity	470,650	498,447
Non-controlling interest	100	100
Total equity	470,750	498,547
Total Liabilities, Mezzanine Equity and Equity	1,477,644	1,414,737
Payment Protection Plan [Member]
Liabilities:
Deferred revenue	51,836	53,065
Service Contract [Member]
Liabilities:
Deferred revenue	$ 68,945	$ 67,404

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Apr. 30, 2024	Apr. 30, 2023
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Outstanding (in shares)	0	0
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, Par or Stated Value Per Share (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)	13,727,013	13,701,468
Common Stock, Shares, Outstanding (in shares)	6,394,675	6,373,404
Treasury Stock, Common, Shares (in shares)	7,332,338	7,328,064

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Sales	$ 1,160,798	$ 1,204,194	$ 1,038,682
Interest and other income	233,096	196,219	151,853
Total revenues	1,393,894	1,400,413	1,190,535
Costs and expenses:
Cost of sales, excluding depreciation	758,546	800,788	658,615
Selling, general and administrative	179,421	176,696	156,130
Provision for credit losses	423,406	352,860	238,054
Interest expense	65,348	38,312	10,919
Depreciation and amortization	6,871	5,602	4,033
Loss (gain) on disposal of property and equipment	(437)	(361)	(149)
Total costs and expenses	1,434,029	1,374,619	1,067,900
(Loss) income before income taxes	(40,135)	25,794	122,635
(Benefit) provision for income taxes	(8,742)	5,362	27,621
Net (loss) income	(31,393)	20,432	95,014
Less: Dividends on mandatorily redeemable preferred stock	40	40	40
Net (loss) income attributable to common stockholders	$ (31,433)	$ 20,392	$ 94,974
Earnings per share:
Basic (in dollars per share)	$ (4.92)	$ 3.2	$ 14.59
Diluted (in dollars per share)	$ (4.92)	$ 3.11	$ 13.92
Weighted average number of shares outstanding:
Basic (in shares)	6,388,537	6,371,229	6,509,673
Diluted (in shares)	6,388,537	6,566,896	6,823,481

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Net income	$ (31,393)	$ 20,432	$ 95,014
Adjustments to reconcile net income to net cashprovided by operating activities:
Provision for credit losses	423,406	352,860	238,054
Losses on claims for accident protection plan	34,504	25,107	21,871
Depreciation and amortization	6,871	5,602	4,033
Amortization of debt issuance costs	5,139	5,461	775
Loss (gain) on disposal of property and equipment	437	361	149
Stock-based compensation	4,174	5,314	5,496
Impairment of goodwill	267	0	0
Deferred income taxes	(21,507)	8,866	8,750
Change in operating assets and liabilities:
Finance receivable originations	(1,079,946)	(1,161,132)	(1,009,858)
Loan origination costs	(40)	10	20
Finance receivable collections	455,828	434,458	417,796
Accrued interest on finance receivables	(792)	(1,188)	(1,559)
Inventory	139,186	133,047	51,057
Prepaid expenses and other assets	(7,386)	(6,235)	(7,974)
Accounts payable and accrued liabilities	(9,338)	8,621	5,167
Income taxes, net	6,301	(8,984)	(424)
Net cash used in operating activities	(73,898)	(135,728)	(119,178)
Investing Activities:
Purchase of investments	(4,815)	(5,549)	(1,574)
Purchase of property and equipment	(6,146)	(22,106)	(15,796)
Proceeds from sale of property and equipment	316	84	20
Net cash used in investing activities	(10,645)	(27,571)	(17,350)
Financing Activities:
Exercise of stock options	(455)	1,216	(1,488)
Issuance of common stock	282	286	293
Purchase of common stock	(365)	(5,196)	(34,698)
Dividend payments	(40)	(40)	(40)
Debt issuance costs	(5,897)	(2,263)	(6,108)
Change in cash overdrafts	823	0	(1,802)
Issuances of non-recourse notes payable	610,340	400,176	399,994
Principal payments on notes payable	(526,959)	(327,276)	0
Proceeds from revolving credit facilities	554,593	524,531	331,113
Payments on revolving line of credit	(521,366)	(402,688)	(511,042)
Net cash provided by financing activities	110,956	188,746	176,222
Increase (decrease) in cash, cash equivalents, and restricted cash	26,413	25,447	39,694
Cash, cash equivalents, and restricted cash beginning of period	68,034	42,587	2,893
Cash, cash equivalents, and restricted cash end of period	94,447	68,034	42,587
Accident Protection Plan [Member]
Change in operating assets and liabilities:
Deferred revenue	(1,229)	17,150	21,850
Deferred service contract revenue	(1,229)	17,150	21,850
Service Contract [Member]
Change in operating assets and liabilities:
Deferred revenue	1,540	24,542	30,645
Deferred service contract revenue	$ 1,540	$ 24,542	$ 30,645

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Apr. 30, 2021	13,591,889
Balance at Apr. 30, 2021	$ 136	$ 98,812	$ 570,436	$ (257,527)	$ 100	$ 411,957
Issuance of common stock (in shares)	9,721
Issuance of common stock	$ 0	293	0	0	0	$ 293
Stock options exercised (in shares)	40,575					94,000
Stock options exercised		(1,488)	0	0	0	$ (1,488)
Purchase of treasury shares	$ 0	0	0	(34,698)	0	(34,698)
Stock based compensation	0	5,496	0	0	0	5,496
Dividends on subsidiary preferred stock	0	0	(40)	0	0	(40)
Net income	0	0	95,014	0	0	95,014
Purchase of treasury shares	$ 0	0	0	34,698	0	34,698
Balance (in shares) at Apr. 30, 2022	13,642,185
Balance at Apr. 30, 2022	$ 136	103,113	665,410	(292,225)	100	476,534
Issuance of common stock (in shares)	33,867
Issuance of common stock	$ 0	286	0	0	0	$ 286
Stock options exercised (in shares)	25,416					28,000
Stock options exercised	$ 1	1,216	0	0	0	$ 1,217
Purchase of treasury shares	0	0	0	(5,196)	0	(5,196)
Dividends on subsidiary preferred stock	0	0	(40)	0	0	(40)
Net income	0	0	20,432	0	0	20,432
Stock based compensation	0	5,314	0	0	0	5,314
Purchase of treasury shares	$ 0	0	0	5,196	0	5,196
Balance (in shares) at Apr. 30, 2023	13,701,468
Balance at Apr. 30, 2023	$ 137	109,929	685,802	(297,421)	100	498,547
Issuance of common stock (in shares)	17,177
Issuance of common stock	$ 0	282	0	0	0	$ 282
Stock options exercised (in shares)	8,368					35,000
Stock options exercised	$ 0	(455)	0	0	0	$ (455)
Purchase of treasury shares	0	0	0	(365)	0	(365)
Stock based compensation	0	4,174	0	0	0	4,174
Dividends on subsidiary preferred stock	0	0	(40)	0	0	(40)
Net income	0	0	(31,393)	0	0	(31,393)
Purchase of treasury shares	$ 0	0	0	365	0	365
Balance (in shares) at Apr. 30, 2024	13,727,013
Balance at Apr. 30, 2024	$ 137	$ 113,930	$ 654,369	$ (297,786)	$ 100	$ 470,750

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parentheticals) - shares	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Treasury Stock, Shares, Acquired (in shares)	4,274	57,856	304,204

Note A - Organization and Busin

Note A - Organization and Business	12 Months Ended
	Apr. 30, 2024
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 of the largest publicly held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market. References to the Company typically include the Company’s consolidated subsidiaries. The Company’s operations are conducted principally through its two

Note B - Summary of Significant

Note B - Summary of Significant Accounting Policies	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	B - Summary of Significant Accounting Policies Principles of Consolidation The 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 Head of Operations 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 limited to, the Company’s allowance for credit losses. 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 27% of revenues resulting from sales to Arkansas customers. As of April 30, 2024, and periodically throughout the year, the Company maintained cash in financial institutions in excess of the amounts insured by the federal government. The cash is held in several highly rated banking institutions. The Company regularly monitors its counterparty credit risk and mitigates exposure by the amount it invests in one institution. 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 does not exceed $50 million, net of proceeds received from the exercise of stock options, and the total availability under the credit facilities is equal to or greater than 20% of the sum of the borrowing bases, in each case after giving effect to such repurchases (repurchases under this item are excluded from fixed charges for covenant calculations), or (b) the aggregate amount of such repurchases does not exceed 75% of the consolidated net income of the Company measured on a trailing twelve month basis; provided that immediately before and after giving effect to the stock repurchases, at least 12.5% of the aggregate funds committed under the credit facilities remain available. Thus, although the Company does routinely repurchase stock, the Company is limited in its ability to pay dividends or make other distributions to its shareholders without the consent of the Company’s lenders. Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. Restricted Cash Restricted cash is related to the financing and securitization transaction discussed below and are held by the securitization trusts. Restricted cash from collections on auto finance receivables includes collections of principal, interest, and late 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 expected to be available to the Company or its creditors. If the cash generated by the related receivables in a given period was insufficient to pay the interest, principal, and other required payments, the balances on deposit in the reserve accounts would be used to pay those amounts. Restricted cash consists of the following for the years ending April 30, 2024 and April 30, 2023: (In thousands) April 30, 2024 April 30, 2023 Restricted cash from collections on auto finance receivables $ 43,956 $ 34,442 Restricted cash on deposit in reserve accounts 44,969 23,796 Restricted Cash $ 88,925 $ 58,238 Financing and Securitization Transactions The Company utilizes term securitizations 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 trusts and is required to consolidate them. 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 recourse to the Company’s assets beyond the related auto finance receivables, the amounts on deposit in the reserve account, and the restricted cash from collections on auto finance receivables. See Notes C and F for additional information on auto finance receivables and non-recourse notes payable. 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 a weighted average interest rate of approximately 16.9% using the simple effective interest method including any deferred fees. During the third quarter of the 2024 fiscal year, the Company changed the interest rate on new originations of installment sale contracts to 18.25% (from 18.0%) in all states except Arkansas (originates at 16.75%), Illinois (originates at 19.5% – 21.5%) and acquired dealerships in Tennessee (which originate at up to 23.0%). Contract origination costs are not significant. The installment sale contracts are structured to have variable payments whereby borrowers are obligated to pay back principal plus the full amount of interest that will accrue over the entire term of the contract. Finance receivables are collateralized by vehicles sold and consist of contractually scheduled payments from installment contracts net of unearned finance charges and an allowance for credit losses. Unearned finance charges to be collected represent the balance of interest receivable to be earned over the remaining term of the related installment contract, and as such, have been reflected as a reduction to the gross contract amount in arriving at the principal balance in finance receivables. Total earned finance charges were $6.9 million and $6.1 million at April 30, 2024 and April 30, 2023, respectively, on the Consolidated Balance Sheets. An account is considered delinquent when the customer is one day or more behind on their contractual payments. While the Company does not formally place contracts on nonaccrual status, the immaterial amount of interest that may accrue after an account becomes delinquent up until the point of resolution via repossession or write-off, is reserved for against the accrued interest on the Consolidated Balance Sheets. Delinquent contracts are addressed and either made current by the customer, which is the case in most situations, or the vehicle is repossessed or written off if the collateral cannot be recovered quickly. Customer payments are set to match their payday with approximately 78.3% of payments due on either a weekly or bi-weekly basis. The frequency of the payment due dates combined with the general decline in the value of the collateral lead to prompt resolutions on problem accounts. At April 30, 2024, 3.1% of the Company’s finance receivables balances were 30 days or more past due compared to 3.6% at April 30, 2023. 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 to repossess vehicles. Accounts one to three days late are contacted by telephone or text messaging notifications. Notes from each contact are electronically maintained in the Company’s computer system. The Company also utilizes text messaging notifications that allows customers the option to receive due date reminders and late notifications, if applicable. The Company attempts to resolve payment delinquencies amicably prior to repossessing a vehicle. If a customer becomes severely delinquent in his or her payments, and management determines that timely collection of future payments is not probable, the Company will take steps to repossess the vehicle. 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 other concessions are granted to customers, beyond the extension of additional time, at the time of modifications. Modifications are minor and are made for payday changes, minor vehicle repairs and other reasons. For those vehicles that are repossessed, the majority are returned or surrendered by the customer on a voluntary basis. Other repossessions are performed by Company personnel or third-party repossession agents. Depending on the condition of a repossessed vehicle, it is either resold on a retail basis through a Company dealership or sold for cash on a wholesale basis primarily through physical or online auctions. 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 probable. Accounts are charged-off after the expiration of a statutory notice period for repossessed accounts, or when management determines that the timely collection of future payments is not probable for accounts where the Company has been unable to repossess the vehicle. For accounts with respect to which the vehicle was repossessed, the fair value of the repossessed vehicle is charged as a reduction of the gross finance receivables balance charged-off. On average, accounts are approximately 70 days past due at the time of charge-off. For previously charged-off accounts that are subsequently recovered, the amount of such recovery is credited to the allowance for credit losses. During the second quarter of the 2024 fiscal year, the Company implemented third-party software to assist in calculating the Company’s allowance for credit losses. After implementation, the Company’s quantitative portion of the allowance for credit losses was measured using an undiscounted cash flow (“CF”) model. Whereby the undiscounted cash flows are adjusted by a prepayment rate and then the loss rate is applied and compared to the amortized cost basis of finance receivables to reflect management’s estimate of expected credit losses. The CF model is based on installment sale contract level characteristics of the Company’s finance receivables, such as the contractual payment structure, maturity date, payment frequency for recurring payments, and interest rates, as well as the following assumptions: ● a historical loss period, which represents a full economic credit cycle utilizing loss experience, to calculate the historical loss rate; and ● static annualized historical rate based on average time of charge-off; and ● expected prepayment rates based on our historical experience, which also incorporates non-standard contractual payments such as down payments made during the first ninety-days or annual seasonal payments. The Company’s allowance for credit losses also considers qualitative factors not captured within the CF modeled results such as changes in underwriting and collection practices, economic trends, changes in volume and terms of installment sales contracts, credit quality trends, installment sale contract review results, collateral trends, and concentrations of credit. The Company’s qualitative factors incorporate a macroeconomic variable forecast of inflation over a reasonable and supportable forecast period of one year that affects its customers’ non-discretionary income and ability to repay. The reasonable and supportable forecast period of one year is based on management’s current review of the reliability of extended forecasts and is applied as an adjustment to the historical loss rate. As a result of this update to our methodology and the performance of our loan portfolio, the Company increased the provision for credit losses by $28.0 million and decreased net income by $21.8 million, or basic per share loss of $3.40 per share, upon implementation of the third-party software on our condensed consolidated statement of operations during the second quarter of the 2024 fiscal year and had no effect on periods prior to this. During the third quarter of fiscal year 2024, the Company decreased the allowance for credit loss from 26.04% to 25.74%, resulting in a $3.9 million benefit to the provision. During the fourth quarter of fiscal year 2024, the Company decreased the allowance for credit loss from 25.74% to 25.32%, resulting in a $5.4 million benefit to the provision. The decrease in the third and fourth quarters of the 2024 fiscal year were primarily driven by the lower overall inflationary outlook, fewer past due balances at third quarter end, changes in the underwriting process and refinements to the underwriting guidelines due to the implementation of the Company’s new loan origination system. The Company maintains an allowance for credit losses on an aggregate basis at an amount it considers sufficient to cover net credit losses expected over the remaining life of the installment sales contracts in the portfolio at the measurement date. At April 30, 2024, the weighted average total contract term was 47.9 months, with 36.1 months remaining. The allowance for credit losses at April 30, 2024, $331.3 million, was 25.32% of the principal balance in finance receivables of $1.4 billion, less deferred APP revenue of $51.8 million and deferred service contract revenue of $68.9 million, less pending APP claims of $6.4 million. The allowance for credit losses is periodically reviewed by management with any changes reflected in current operations. 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 a difference. At April 30, 2024, anticipated losses did not exceed deferred accident protection plan revenues. No such liability was required at April 30, 2024 or 2023. 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 amortized but are subject to qualitative annual impairment tests at the Company’s year-end. The impairment tests are based on the comparison of the fair value of the reporting unit to the carrying value of such unit. The implied goodwill is compared to the carrying value of the goodwill to determine the impairment, if any. There was no impairment of goodwill during the 2023 fiscal year. During the 2024 fiscal year, the Company evaluated goodwill and recorded an impairment of $267,000 due to the closing of a dealership during the first quarter of fiscal 2024. The Company had $14.4 million and $11.7 million of goodwill for the periods ended April 30, 2024 and 2023, respectively. Goodwill increased by $2.7 million during the year ended April 30, 2024 due to the acquisition of a dealership business during the current year, which was partially offset by the impairment mentioned above. Furniture, fixtures and equipment 3 to 7 years Leasehold improvements 5 to 15 years Buildings and improvements 18 to 39 years Long-Lived Assets Long-lived assets, such as property and equipment, capitalized internal-use software and operating lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, such assets are considered to be impaired, and the impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during any of the periods presented. Cloud Computing Implementation Costs The Company enters into cloud computing service contracts to support its sales, inventory management, and administrative activities. The Company capitalizes certain implementation costs for cloud computing arrangements that meet the definition of a service contract. The Company includes these capitalized implementation costs within Prepaid expenses and other assets on the Consolidated Balance Sheets. Once placed in service, the Company amortizes these costs over the remaining subscription term to the same caption on the Consolidated Statement of Operations as the related cloud subscription. Capitalized implementation costs for cloud computing arrangements accounted for as service contracts were $16.7 million and $10.8 million as of April 30, 2024, and 2023, respectively. Accumulated amortization of capitalized implementation costs for these arrangements was $339,500 and $136,709 as of April 30, 2024 and 2023, respectively. 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 of its revolving credit facilities. Any cash overdraft balance principally represents outstanding checks, net of any deposits in transit that as of the balance sheet date had not yet been presented for payment. Any cash overdraft balance is reflected in accrued liabilities on the Company’s Consolidated Balance Sheets. 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 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 bases 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. 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 sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company applies this methodology to all tax positions for which the statute of limitations remains open. 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 longer subject to U.S. federal, state and local income tax examinations by tax authorities for the fiscal years before 2020. 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 accrued penalties or interest as of April 30, 2024 and 2023, respectively. 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” interest method over the life of the contract so that revenues are recognized in proportion to the amount of cancellation protection provided. Accident protection plan revenues are included in sales and related losses are included in cost of sales as incurred. Interest income is recognized on all active finance receivables accounts using the simple effective interest method. Active accounts include all accounts except those that have been paid-off or charged-off. Sales consist of the following for the years ended April 30, 2024, 2023 and 2022: Years Ended April 30, (In thousands) 2024 2023 2022 Sales – used autos $ 1,003,640 $ 1,057,465 $ 918,414 Wholesales – third party 52,463 54,610 46,625 Service contract sales 67,213 57,593 42,958 Accident protection plan revenue 37,482 34,526 30,685 Total $ 1,160,798 $ 1,204,194 $ 1,038,682 At April 30, 2024 and 2023, finance receivables more than 90 days past due were approximately $4.5 million and $3.9 million, respectively. Late fee revenues totaled approximately $4.9 million, $4.4 million, and $3.1 million for the fiscal years ended 2024, 2023, and 2022, respectively. Late fee revenue is recognized when collected and is reflected within Interest and other income During the years ended April 30, 2024 and 2023, the Company recognized $34.8 million and $26.8 million of revenues that were included in deferred service contract revenues for the years ended April 30, 2023 and 2022, respectively. Advertising Costs Advertising costs are expensed as incurred and consist principally of television, radio, print media and digital marketing costs. Advertising costs amounted to $4.3 million, $5.8 million and $5.0 million for the years ended April 30, 2024, 2023 and 2022, respectively. Employee Benefit Plans The Company has 401(k) plans for all of its employees meeting certain eligibility requirements. The plans provide for voluntary employee contributions and the Company matches 50% of employee contributions up to a maximum of 6% of each employee’s compensation. The Company contributed approximately $1.1 million, $1.2 million, and $1.2 million to the plans for the years ended April 30, 2024, 2023 and 2022, respectively. The Company offers employees the right to purchase common shares at a 15% discount from market price under the 2006 Employee Stock Purchase Plan which was approved by shareholders in October 2006. The Company takes a charge to earnings for the 15% discount, included in stock-based compensation. Amounts for fiscal years 2024, 2023 and 2022 were not material individually or in the aggregate. A total of 200,000 shares were registered and 125,149 remain available for issuance under this plan at April 30, 2024. 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 issue either new shares or treasury shares upon exercise of these awards. Stock-based compensation plans, related expenses, and assumptions used in the Black-Scholes option pricing model are more fully described in Note K. If an award contains a performance condition, expense is recognized only for those shares for which it is considered reasonably probable as of the current period end that the performance condition will be met. The Company accounts for forfeitures as they occur and records any excess tax benefits or deficiencies from equity awards in the Consolidated Statements of Operations in the reporting period in which the exercises occur. The Company recorded a discrete income tax benefit of approximately $227,000 and $558,000 during the years ended April 30, 2024 and 2023, respectively. As a result, the Company’s income tax expenses and associated effective tax rate will be impacted by fluctuations in stock price between the grant dates and exercise dates of equity awards. Treasury Stock The Company purchased 4,274, 57,856, and 304,204 shares of its common stock to be held as treasury stock for a total cost of $365,000, $5.2 million, $34.7 million during the years ended April 30, 2024, 2023 and 2022, respectively. Treasury stock may be used for issuances under the Company’s stock-based compensation plans or for other general corporate purposes. The Company has a reserve account of 10,000 shares of treasury stock to secure outstanding service contracts issued in Iowa in accordance with the regulatory requirements of that state and another reserve account of 14,000 shares of treasury stock for its subsidiary, ACM Insurance Company, in accordance with the requirements of the Arkansas Department of Insurance. Facility Leases The Company’s leases primarily consist of operating leases related to retail stores, office space, and land. For more information on financing obligations, see Note F. The initial term for real property leases is typically 3 to 10 years. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 3 to 10 years or more. The Company includes options to renew (or terminate) in the lease term, and as part of the right-of-use (“ROU”) asset and lease liability, when it is reasonably certain that the options will be exercised. The weighted average remaining lease term as of April 30, 2024 was 11.4 years. The ROU asset and the related lease liability are initially measured at the present value of future lease payments over the lease term. As most leases do not provide an implicit interest rate, the Company obtains a quote for a collateralized debt obligation from a group of lenders each quarter to determine the present value of future payments of leases commenced for that quarter. The weighted average discount rate as of April 30, 2024 was 4.6%. The Company includes variable lease payments in the initial measurement of ROU assets and lease liabilities only to the extent they depend on an index or rate. Changes in such indices or rates are accounted for in the period the change occurs, and do not result in the remeasurement of the ROU asset or liability. The Company is also responsible for payment of certain real estate taxes, insurance, and other expenses on leases. T

Note C - Finance Receivables, N

Note C - Finance Receivables, Net	12 Months Ended
	Apr. 30, 2024
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 18.25% for all states except Arkansas (originates at 16.75%), Illinois (originates at 19.5% - 21.5%) and acquired dealerships in Tennessee (which originate at up to 23.0%), are collateralized by the vehicle sold and typically provide for payments over periods ranging from 18 to 69 months. The Company’s finance receivables are defined as one segment and one one (In thousands) April 30, 2024 April 30, 2023 Gross contract amount $ 1,844,392 $ 1,752,149 Less unearned finance charges (409,004 ) (378,777 ) Principal balance 1,435,388 1,373,372 Less: estimated insurance receivables for APP claims (3,026 ) (5,694 ) Less: allowance for APP claims (3,171 ) (5,310 ) Less: allowance for credit losses (331,260 ) (299,608 ) Finance receivables, net 1,097,931 1,062,760 Loan origination costs 660 700 Finance receivables, net, including loan origination costs 1,098,591 1,063,460 Auto finance receivables collateralizing the non-recourse notes payable related to the financing and securitization transaction completed during the fiscal year 2024 and 2023 were $814.7 million and $721.9 million, respectively. Changes in the finance receivables, net for the years ended April 30, 2024, 2023 and 2022 are as follows: Years Ended April 30, (In thousands) 2024 2023 2022 Balance at beginning of period $ 1,062,760 $ 855,424 $ 626,077 Finance receivable originations 1,079,946 1,161,132 1,009,859 Finance receivable collections (455,828 ) (434,458 ) (417,796 ) Provision for credit losses (423,406 ) (352,860 ) (238,054 ) Losses on claims for accident protection plan (34,504 ) (25,107 ) (21,871 ) Inventory acquired in repossession and accident protection plan claims (131,037 ) (141,371 ) (102,791 ) Balance at end of period $ 1,097,931 $ 1,062,760 $ 855,424 Changes in the finance receivables allowance for credit losses for the years ended April 30, 2024, 2023 and 2022 are as follows: Years Ended April 30, (In thousands) 2024 2023 2022 Balance at beginning of period $ 299,608 $ 237,823 $ 177,267 Provision for credit losses 423,406 352,860 238,054 Charge-offs (525,634 ) (414,397 ) (260,039 ) Recovered collateral 133,880 123,322 82,541 Balance at end of period $ 331,260 $ 299,608 $ 237,823 Amounts recovered from previously written-off accounts were $2.8 million, $2.5 million, and $2.4 million for the years ended April 30, 2024, 2023 and 2022, respectively. These amounts are netted against recovered collateral in the table above. During fiscal 2022, the allowance for credit losses remained basically flat at 23.57%, up from 23.55% at April 30, 2021. For fiscal 2023, credit losses increased primarily due to the ending of federal stimulus programs, continuing inflationary pressure on customers and increasing interest rates from federal monetary policy, and in the fourth quarter of fiscal 2023, the Company increased its allowance for credit losses to 23.91%. During the second quarter of the 2024 fiscal year, the Company increased the allowance for credit losses to 26.04%. The Company decreased the allowance for credit losses to 25.74% and 25.32% during the third quarter and fourth quarter of fiscal year 2024, respectively. The decrease in the third quarter and fourth quarter of the 2024 fiscal year was primarily driven by the lower overall inflationary outlook and fewer past due balances at third quarter end and changes in the underwriting process and refinements to the underwriting guidelines due to the implementation of the Company’s new loan origination system. As a result of the implementation of LOS and the new deal structures there has been a notable decrease in the frequency and loss rate in charge-offs as compared to loans that were originated during the same period and dealership state using the legacy system. All the underwriting deal information is centrally located in LOS and as such, dealerships can view internal scores, deal percentages, pre-qual credit report and other customer information. Historically, this information was sourced from several sources. As a result, changes to the underwriting process and refinement to the underwriting guidelines, the decisions to underwrite tend to be better informed. Credit quality information for finance receivables is as follows: (Dollars in thousands) April 30, 2024 April 30, 2023 Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Current $ 1,125,945 78.44 % $ 1,166,860 84.96 % 3 - 29 days past due 264,491 18.43 % 156,943 11.43 % 30 - 60 days past due 34,042 2.37 % 37,214 2.71 % 61 - 90 days past due 6,438 0.45 % 8,407 0.61 % > 90 days past due 4,472 0.31 % 3,948 0.29 % Total $ 1,435,388 100.00 % $ 1,373,372 100.00 % Accounts one and two days past due are considered current for this analysis, due to the varying payment dates and variation in the day of the week at each period end. Delinquencies may vary from period to period based on the average age of the portfolio, seasonality within the calendar year, the day of the week and overall economic factors. The above categories are consistent with internal operational measures used by the Company to monitor credit results. Substantially all of the Company’s installment sale 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, payment to income, down payment percentages, and collections for credit quality indicators. Twelve Months Ended 2024 2023 Average total collected per active customer per month $ 554 $ 534 Principal collected as a percent of average finance receivables 31.7 % 34.7 % Average down-payment percentage 5.4 % 5.4 % Average originating contract term (in months 44.0 42.9 April 30, 2024 April 30, 2023 Portfolio weighted average contract term, including modifications (in months 47.9 46.3 Although total dollars collected per active customer increased 3.7% year over year, principal collections as a percentage of average finance receivables were lower in fiscal 2024 compared to fiscal 2023 primarily due to the average term increases. The portfolio weighted average contract term increased primarily due to the increased average selling price, up $1,033 or 5.7%, from fiscal year 2023. When customers apply for financing, the Company’s proprietary scoring models rely 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 rated customers. Customers assigned a lower grade are determined to have a lower probability of repayment. For loans that are approved, the credit grade influences the terms of the agreement, such as the maximum amount financed, term length and minimum down payment. After origination, credit grades are generally not updated. The following table presents a summary of finance receivables by credit quality indicator, as of April 30, 2024 segregated by customer score and year of origination. Customer Score by Fiscal Year of Origination Prior to (Dollars in thousands) 2024 2023 2022 2021 2020 2020 Total % 1-2 $ 43,445 $ 13,757 $ 3,668 $ 375 $ 95 $ 6 $ 61,346 4.3 % 3-4 300,323 117,904 36,349 4,552 325 158 459,611 32.0 % 5-6 485,535 291,198 116,611 19,452 1,216 419 914,431 63.7 % Total $ 829,303 $ 422,859 $ 156,628 $ 24,379 $ 1,636 $ 583 $ 1,435,388 100.0 % Gross charge-offs $ 155,385 $ 265,609 $ 88,160 $ 14,835 $ 1,081 $ 564 $ 525,634 The following table presents a summary of finance receivables by credit quality indicator, as of April 30, 2023 segregated by customer score and year of origination. Customer Score by Fiscal Year of Origination Prior to (Dollars in thousands) 2023 2022 2021 2020 2019 2019 Total % 1-2 $ 38,743 $ 12,983 $ 2,736 $ 329 $ 32 $ 6 $ 54,829 4.0 % 3-4 294,972 105,101 24,982 1,698 243 137 427,133 31.1 % 5-6 563,581 254,945 66,436 5,390 687 371 891,410 64.9 % Total $ 897,296 $ 373,029 $ 94,154 $ 7,417 $ 962 $ 514 $ 1,373,372 100.0 %

Note D - Property and Equipment

Note D - Property and Equipment	12 Months Ended
	Apr. 30, 2024
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) April 30, 2024 April 30, 2023 Land $ 11,998 $ 12,386 Buildings and improvements 23,435 20,894 Furniture, fixtures and equipment 21,752 18,989 Leasehold improvements 50,689 47,315 Construction in progress 2,393 7,176 Accumulated depreciation and amortization (49,906 ) (45,078 ) Property and equipment, net $ 60,361 $ 61,682

Note E - Accrued Liabilities

Note E - Accrued Liabilities	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	E - Accrued Liabilities A summary of accrued liabilities is as follows: (In thousands) April 30, 2024 April 30, 2023 Employee compensation and benefits $ 10,774 $ 11,197 Deferred sales tax 6,234 8,543 Fair value of contingent consideration 3,193 1,943 Other 7,627 6,229 Accrued liabilities $ 27,828 $ 27,912

Note F - Debt

Note F - Debt	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	F Debt A summary of debt is as follows: (In thousands) 2024 2023 Revolving line of credit $ 201,743 $ 168,516 Debt issuance costs (924 ) (1,285 ) Revolving line of credit, net $ 200,819 $ 167,231 Non-recourse notes payable - 2022-1 Issuance $ - $ 134,137 Non-recourse notes payable - 2023-1 Issuance 150,190 338,777 Non-recourse notes payable - 2023-2 Issuance 203,189 - Non-recourse notes payable - 2024-1 Issuance 202,916 - Debt issuance costs (2,666 ) (1,547 ) Non-recourse notes payable, net $ 553,629 $ 471,367 Total debt $ 754,448 $ 638,598 Revolving Line of Credit At April 30, 2024, the Company and its subsidiaries have $340.0 million of permitted borrowings under a revolving line of credit. 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 with a scheduled maturity date of September 30, 2025. The credit facilities provide for four pricing tiers for determining the applicable interest rate, based on the Company’s consolidated leverage ratio for the preceding fiscal quarter. The current applicable interest rate under the credit facilities is generally SOFR plus 3.50% or for non-SOFR amounts the base rate of 8.50% plus 1% at April 30, 2024 and 8.25% at April 30, 2023. The credit facilities contain various reporting and performance covenants including (i) maintenance of certain financial ratios and tests, (ii) limitations on borrowings from other sources, (iii) restrictions on certain operating activities and (iv) restrictions on the payment of dividends or distributions (see note B). The Company was in compliance with the covenants at April 30, 2024. The amount available to be drawn under the credit facilities is a function of eligible finance receivables and inventory; based upon eligible finance receivables and inventory at April 30, 2024, the Company had additional availability of approximately $73.4 million under the revolving credit facilities. Non-Recourse Notes Payable The Company has issued four separate series of asset-backed non-recourse notes (known as the “2022 Issuance”, “2023-1 Issuance”, “2023-2 Issuance” and “2024-1 Issuance”). All four issuances are collateralized by installment sale contracts directly originated by the Company. Credit enhancement for the non-recourse notes payable consists of overcollateralization, a reserve account funded with an initial amount of not less than 2.0% of the pool balance, excess interest on the auto finance receivables, and in some cases, the subordination of certain payments to noteholders of less senior classes of notes. The timing of principal payments on the non-recourse notes payable is based on the timing of principal collections and defaults on the related auto finance receivables. In December 2023, the Company fully paid off the 2022 Issuance. The three notes payable related to the remaining term securitization transactions accrue interest predominately at fixed rates and have scheduled maturities through January 22, 2030, June 20, 2030, and January 21, 2031, respectively, but may mature earlier, depending upon repayment rate of the underlying auto finance receivables. The original principal balance and weighted average fixed coupon rate for the three securitizations are as follows: Original Principal Balance (in thousands) Weighted Average Fixed 2023-1 $ 400,200 8.68 % 2023-2 360,300 8.80 % 2024-1 250,000 9.50 %

Note G - Fair Value Measurement

Note G - Fair Value Measurements	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	G Fair Value Measurements Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance also establishes a fair value hierarchy that requires the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Topic 820 describes three levels of inputs that may be used to measure fair value: ● Level 1 Inputs ● Level 2 Inputs ● Level 3 Inputs Because no market exists for certain of the Company’s financial instruments, fair value estimates are based on judgments and estimates regarding yield expectations of investors, credit risk and other risk characteristics, including interest rate and prepayment risk. These estimates are subjective in nature and involve uncertainties and matters of judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect these estimates. The methodology and assumptions utilized to estimate the fair value of the Company’s financial instruments are as follows: Financial Instruments and other assets 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). Repossessed inventory The fair value approximates wholesale value (Level 1). Finance receivables, net The Company estimated the fair value of its receivables at what a third-party purchaser might be willing to pay. The Company has had discussions with third parties and has bought and sold portfolios and has had a third-party appraisal in October 2022 that indicates a range of 34% to 39% discount to face would be a reasonable fair value in a negotiated third-party transaction. The sale of finance receivables from Car-Mart of Arkansas to Colonial is made at a 38.5% discount. For financial reporting purposes these sale transactions are eliminated (Level 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). Contingent Consideration The fair value was based upon inputs from the earn-out projection (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 and other assets included in the Company’s financial statements at April 30, 2024 and 2023 are as follows: April 30, 2024 April 30, 2023 Carrying Fair Carrying Fair (In thousands) Cash and cash equivalents $ 5,522 $ 5,522 $ 9,796 $ 9,796 Restricted cash 88,925 88,925 58,238 58,238 Inventory - Repossessions 18,182 18,182 16,451 16,451 Finance receivables, net 1,098,591 882,764 1,063,460 844,624 Accounts payable 21,379 21,379 27,196 27,196 Contingent Consideration 3,193 3,193 1,943 1,943 Revolving line of credit, net 200,819 200,819 167,231 167,231 Non-recourse notes payable 553,629 553,003 471,367 470,209

Note H - Income Taxes

Note H - Income Taxes	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	H - Income Taxes The provision for income taxes was as follows: Years Ended April 30, (In thousands) 2024 2023 2022 Provision for income taxes Current $ 12,765 $ (3,504 ) $ 18,871 Deferred (21,507 ) 8,866 8,750 Total $ (8,742 ) $ 5,362 $ 27,621 The provision for income taxes is different from the amount computed by applying the statutory federal income tax rate to income before income taxes for the following reasons: Years Ended April 30, (In thousands) 2024 2023 2022 Tax provision at statutory rate $ (8,428 ) $ 5,417 $ 25,753 State taxes, net of federal benefit (1,204 ) 774 3,679 Tax benefit from option exercises (227 ) (558 ) (1,356 ) Other, net 1,117 (271 ) (455 ) Total $ (8,742 ) $ 5,362 $ 27,621 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred income tax assets and liabilities were as follows: Years Ended April 30, (In thousands) 2024 2023 Deferred income tax liabilities related to: Finance receivables $ 46,056 $ 47,486 Property and equipment 3,222 3,262 Goodwill 426 281 Total 49,704 51,029 Deferred income tax assets related to: Accrued liabilities 2,218 3,051 Inventory 152 204 Share based compensation 4,803 4,634 Net operating loss 20,700 164 Interest expense limitation (7 ) - Deferred revenue 4,030 3,661 Total 31,896 11,714 Deferred income tax liabilities, net $ 17,808 $ 39,315

Note I - Capital Stock

Note I - Capital Stock	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Equity [Text Block]	I Capital Stock The Company is authorized to issue up to 50,000,000 shares of common stock, par value $0.01 per share, and up to 1,000,000 shares of preferred stock, par value $0.01 per share. Each share of the Company’s common stock has the same relative rights as, and is identical in all respects to, each other share of the Company’s common stock. The shares of preferred stock may be issued in one or more series having such respective terms, rights and preferences as are designated by the Board of Directors. The Company has not issued any preferred stock. A subsidiary of the Company has issued 500,000 shares of $1.00 par value preferred stock which carries an 8% cumulative dividend. The Company’s subsidiary can redeem the preferred stock at any time at par value plus any unpaid dividends. After April 30, 2017, a holder of 400,000 shares of the subsidiary preferred stock can require the Company’s subsidiary to redeem such stock for $400,000 plus any unpaid dividends.

Note J - Weighted Average Share

Note J - Weighted Average Shares Outstanding	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Weighted Average Shares Outstanding [Text Block]	J 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: Years Ended April 30, 2024 2023 2022 Weighted average shares outstanding-basic 6,388,537 6,371,229 6,509,673 Dilutive options and restricted stock - 195,667 313,808 Weighted average shares outstanding-diluted 6,388,537 6,566,896 6,823,481 Antidilutive securities not included: Options 368,118 315,625 120,000 Restricted Stock 9,898 15,231 4,784

Note K - Stock-based Compensati

Note K - Stock-based Compensation Plans	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	K Stock-Based Compensation Plans 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 current stock-based compensation plans being utilized at April 30, 2024 are the Amended and Restated Stock Option Plan and the Amended and Restated Stock Incentive Plan. The Company recorded total stock-based compensation expense for all plans of approximately $3.7 million ($2.9 million after tax effects), $5.3 million ($4.1 million after tax effects), $5.5 million ($4.2 million after tax effects)) for the years ended April 30, 2024, 2023 and 2022, respectively. Tax benefits were recognized for these costs at the Company’s overall effective tax rate, excluding discrete income tax benefits related to excess benefits on share-based compensation. 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, which extended the term of the Stock Option Plan to June 10, 2025 and increased the number of shares of common stock reserved for issuance under the plan by an additional 300,000 shares to 1,800,000 shares. On August 29, 2018, the shareholders of the Company approved an amendment to the Restated Option Plan increasing the number of shares of common stock reserved for issuance under the plan by an additional 200,000 shares to 2,000,000 shares. On August 26, 2020, the shareholders of the Company approved an amendment to the Restated Option Plan increasing the number of shares of common stock reserved for issuance under the plan by an additional 200,000 shares to 2,200,000 shares. On August 30, 2022, the shareholders of the Company approved an amendment to the Restated Option Plan increasing the number of shares of common stock reserved for issuance under the plan by an additional 185,000 shares to 2,385,000 shares. The Restated Option Plan provides for the grant of options to purchase shares of the Company’s common stock to employees, directors and certain advisors of the Company at a price not less than the fair market value of the stock on the date of grant and for periods not to exceed ten Restated Option Plan Minimum exercise price as a percentage of fair market value at date of grant 100% Last expiration date for outstanding options January 25, 2034 Shares available for grant at April 30, 2024 102,514 The aggregate intrinsic value of outstanding options at April 30, 2024 and 2023 was $1.6 million and $9.1 million, respectively. 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. Years Ended April 30, 2024 2023 2022 Expected term (years) 3.9 5.5 5.5 Risk-free interest rate 4.06 % 3.60 % 0.86 % Volatility 56 % 55 % 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 the historical volatility of the Company’s common stock. The Company has not historically issued dividends and does not expect to do so in the foreseeable future. There were 197,486 options granted during fiscal 2024, 140,000 granted during fiscal 2023 and 30,000 granted during fiscal 2022. The grant-date fair value of options granted during fiscal 2024, 2023, and 2022 was $5.7 million, $5.1 million, $2.1 million, respectively. The options were granted at fair market value on the date of grant. Generally, options vest after three five The following is an aggregate summary of the activity in the Company’s stock option plans from April 30, 2021 to April 30, 2024: Number Exercise Proceeds Weighted Average of Price on Exercise Price per Options per Share Exercise Share (in thousands) Outstanding at April 30, 2021 566,400 $ 41,026 $ 72.43 Granted 30,000 $ 150.83 4,525 150.83 Exercised (94,000 ) $ 24.37 to $ 150.83 (6,276 ) 66.76 Cancelled (1,000 ) $ 41.86 (42 ) 41.86 Outstanding at April 30, 2022 501,400 $ 39,232 $ 78.25 Granted 140,000 $ 61.02 to $ 94.59 9,687 69.19 Exercised (28,000 ) $ 44.52 to $ 53.02 (1,439 ) 51.38 Cancelled - - Outstanding at April 30, 2023 613,400 $ 47,480 $ 77.41 Granted 197,486 $ 70.57 to $ 86.30 14,279 72.30 Exercised (35,000 ) $ 36.54 to $ 54.85 (1,828 ) 52.23 Cancelled (40,000 ) $ 109.06 (4,362 ) 109.06 Outstanding at April 30, 2024 735,886 $ 55,569 $ 75.51 Stock option compensation expense on a pre-tax basis was $1.8 million ($1.4 million after tax effects), $3.7 million ($2.9 million after tax effects), and $4.5 million ($3.4 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 Consolidated Statements of Cash Flows. Years Ended April 30, (Dollars in thousands) 2024 2023 2022 Options Exercised 35,000 28,000 94,000 Cash Received from Options Exercised $ - $ 1,216 $ 591 Intrinsic Value of Options Exercised $ 1,145 $ 1,412 $ 7,124 During the year ended April 30, 2024, there were 35,000 options exercised through net settlements in accordance with plan provisions, wherein the shares issued were reduced by 26,632 shares to satisfy the exercise price to acquire 8,368 shares. As of April 30, 2024, there were 446,734 vested and exercisable stock options outstanding with an aggregate intrinsic value of $1.6 million and a weighted average remaining contractual life of 5.0 years and a weighted average exercise price of $76.79. Stock Incentive Plan On August 5, 2015, the shareholders of the Company approved the Amended and Restated Stock Incentive Plan (the “Restated Incentive Plan”), which extended the term of the Company’s Stock Incentive Plan to June 10, 2025. On August 29, 2018, the shareholders of the Company approved an amendment to the Restated Stock Incentive Plan that increased the number of shares of common stock that may be issued under the Restated Incentive Plan by 100,000 shares to 450,000. For shares issued under the Stock Incentive Plan, the associated compensation expense is generally recognized equally over the vesting periods established at the award date and is subject to the employee’s continued employment by the Company. The following is a summary of the activity in the Company’s Stock Incentive Plan: Number Weighted Average Unvested shares at April 30, 2021 192,018 $ 51.70 Shares granted 11,287 121.17 Shares vested (6,500 ) 39.14 Shares cancelled (15,691 ) 59.99 Unvested shares at April 30, 2022 181,114 $ 55.76 Shares granted 40,470 68.78 Shares vested (29,500 ) 35.31 Shares cancelled (10,301 ) 69.14 Unvested shares at April 30, 2023 181,783 $ 61.22 Shares granted 74,647 68.56 Shares vested (13,037 ) 62.78 Shares cancelled (32,183 ) 61.14 Unvested shares at April 30, 2024 211,210 $ 63.73 The fair value at vesting for Awards under the stock incentive plan was $13.5 million, $11.1 million, and $10.1 million in fiscal 2024, 2023, and 2022, respectively. The Company recorded compensation cost of approximately $1.8 million ($1.4 ($1.2 ($749,000

Note L - Commitments and Contin

Note L - Commitments and Contingencies	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	L - Commitments and Contingencies Letter of Credit The Company has two standby letters of credit relating to insurance policies totaling $ 3.9 million Facility Leases The Company leases certain dealership and office facilities under various non-cancelable operating leases. Dealership leases are generally for periods from three five Years Ending Amount April 30, (In thousands) 2025 $ 9,172 2026 8,768 2027 8,274 2028 7,581 2029 6,627 Thereafter 42,432 Total undiscounted operating lease payments 82,854 Less: imputed interest 18,604 Present value of operating lease liabilities $ 64,250 The $82.9 million of operating lease commitments includes $23.8 million of non-cancelable lease commitments under the lease terms, and $59.1 million of lease commitments for renewal periods at the Company’s option that are reasonably assured. For the years ended April 30, 2024, 2023, and 2022, rent expense for all operating leases amounted to approximately $9.0 million, $9.0 million, and $8.0 million, respectively. Litigation In the ordinary course of business, the Company has become a defendant in various types of legal proceedings. The Company does not expect the final outcome of any of these actions, individually or in the aggregate, to have a material adverse effect on the Company’s financial position, annual results of operations or cash flows. The results of legal proceedings cannot be predicted with certainty, however, and an unfavorable resolution of one or more of these legal proceedings could have a material adverse effect on the Company’s financial position, annual results of operations or cash flows. Related Finance Company Car-Mart of Arkansas and Colonial do not meet the affiliation standard for filing consolidated income tax returns, and as such they file separate federal and state income tax returns. Car-Mart of Arkansas routinely sells its finance receivables to Colonial at what the Company believes to be fair market value and is able to take a tax deduction at the time of sale for the difference between the tax basis of the receivables sold and the sales price. These types of transactions, based upon facts and circumstances, have been permissible under the provisions of the Internal Revenue Code as described in the Treasury Regulations. For financial accounting purposes, these transactions are eliminated in consolidation, and a deferred income tax liability has been recorded for this timing difference. The sale of finance receivables from Car-Mart of Arkansas to Colonial provides certain legal protection for the Company’s finance receivables and, principally because of certain state apportionment characteristics of Colonial, also has the effect of reducing the Company’s overall effective state income tax rate. The actual interpretation of the regulations is in part a facts and circumstances matter. The Company believes it satisfies the material provisions of the regulations. Failure to satisfy those provisions could result in the loss of a tax deduction at the time the receivables are sold and have the effect of increasing the Company’s overall effective income tax rate as well as the timing of required tax payments.

Note M - Supplemental Cash Flow

Note M - Supplemental Cash Flow Information	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	M - Supplemental Cash Flow Information Supplemental cash flow disclosures for the years ended April 30, 2024, 2023, and 2022 are as follows: Years Ended April 30, (in thousands) 2024 2023 2022 Supplemental disclosures: Interest paid $ 65,647 $ 36,605 $ 10,421 Income taxes paid, net 6,459 5,480 19,238 Non-cash transactions: Inventory acquired in repossession and accident protection plan claims 137,366 127,035 84,096 Reduction in net receivables for deferred ancillary product revenue at time of charge-off 37,877 30,665 16,814 Net settlement option exercises 1,828 223 5,685 Right-of-use assets obtained in exchange for operating lease liabilities 2,134 578 3,176 Right-of-use assets obtained in exchange for operating lease liabilities through acquisitions 1,822 1,729 -

Note N - Subsequent Events

Note N - Subsequent Events	12 Months Ended
	Apr. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	N Subsequent Events On June 3, 2024, the Company completed its previously announced acquisition of the dealership assets of Texas Auto Center, which includes two dealership locations in Austin and San Marcos, Texas. Cash paid on the closing date was $7.5 million, primarily used for vehicle inventory. The structure is consistent with prior transactions whereby the Company did not acquire existing finance receivables and the sellers may receive a performance-based earn-out in the future ranging from zero In July 2024, the Company entered into an amendment to its revolving credit agreement to allow for, among other things, the entry into a warehouse agreement with corporate support up to 10% of the aggregate principal balance and amended the fixed charge coverage ratio. Simultaneously, the Company entered into a new warehouse agreement providing a $150 million amortizing warehouse facility. The company primarily plans to use the funds from the warehouse facility to pay down the current revolving loan balance. The warehouse facility accrues interest at a rate of SOFR plus 350 basis points, with payments of principal and interest due monthly and a scheduled maturity date of July 12, 2026.

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Apr. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	During the three months ended April 30, 2024, none
Issuer Rule 10b5-1, Adopted or Terminated	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The 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 Head of Operations 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 limited to, the Company’s allowance for credit losses.
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 27% of revenues resulting from sales to Arkansas customers. As of April 30, 2024, and periodically throughout the year, the Company maintained cash in financial institutions in excess of the amounts insured by the federal government. The cash is held in several highly rated banking institutions. The Company regularly monitors its counterparty credit risk and mitigates exposure by the amount it invests in one institution.
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 does not exceed $50 million, net of proceeds received from the exercise of stock options, and the total availability under the credit facilities is equal to or greater than 20% of the sum of the borrowing bases, in each case after giving effect to such repurchases (repurchases under this item are excluded from fixed charges for covenant calculations), or (b) the aggregate amount of such repurchases does not exceed 75% of the consolidated net income of the Company measured on a trailing twelve month basis; provided that immediately before and after giving effect to the stock repurchases, at least 12.5% of the aggregate funds committed under the credit facilities remain available. Thus, although the Company does routinely repurchase stock, the Company is limited in its ability to pay dividends or make other distributions to its shareholders without the consent of the Company’s lenders.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents The Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents.
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 are held by the securitization trusts. Restricted cash from collections on auto finance receivables includes collections of principal, interest, and late 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 expected to be available to the Company or its creditors. If the cash generated by the related receivables in a given period was insufficient to pay the interest, principal, and other required payments, the balances on deposit in the reserve accounts would be used to pay those amounts. Restricted cash consists of the following for the years ending April 30, 2024 and April 30, 2023: (In thousands) April 30, 2024 April 30, 2023 Restricted cash from collections on auto finance receivables $ 43,956 $ 34,442 Restricted cash on deposit in reserve accounts 44,969 23,796 Restricted Cash $ 88,925 $ 58,238
Financing and Securitization Transactions Policy [Policy Text Block]	Financing and Securitization Transactions The Company utilizes term securitizations 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 trusts and is required to consolidate them. 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 recourse to the Company’s assets beyond the related auto finance receivables, the amounts on deposit in the reserve account, and the restricted cash from collections on auto finance receivables. See Notes C and F for additional information on auto finance receivables and non-recourse notes payable.
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 a weighted average interest rate of approximately 16.9% using the simple effective interest method including any deferred fees. During the third quarter of the 2024 fiscal year, the Company changed the interest rate on new originations of installment sale contracts to 18.25% (from 18.0%) in all states except Arkansas (originates at 16.75%), Illinois (originates at 19.5% – 21.5%) and acquired dealerships in Tennessee (which originate at up to 23.0%). Contract origination costs are not significant. The installment sale contracts are structured to have variable payments whereby borrowers are obligated to pay back principal plus the full amount of interest that will accrue over the entire term of the contract. Finance receivables are collateralized by vehicles sold and consist of contractually scheduled payments from installment contracts net of unearned finance charges and an allowance for credit losses. Unearned finance charges to be collected represent the balance of interest receivable to be earned over the remaining term of the related installment contract, and as such, have been reflected as a reduction to the gross contract amount in arriving at the principal balance in finance receivables. Total earned finance charges were $6.9 million and $6.1 million at April 30, 2024 and April 30, 2023, respectively, on the Consolidated Balance Sheets. An account is considered delinquent when the customer is one day or more behind on their contractual payments. While the Company does not formally place contracts on nonaccrual status, the immaterial amount of interest that may accrue after an account becomes delinquent up until the point of resolution via repossession or write-off, is reserved for against the accrued interest on the Consolidated Balance Sheets. Delinquent contracts are addressed and either made current by the customer, which is the case in most situations, or the vehicle is repossessed or written off if the collateral cannot be recovered quickly. Customer payments are set to match their payday with approximately 78.3% of payments due on either a weekly or bi-weekly basis. The frequency of the payment due dates combined with the general decline in the value of the collateral lead to prompt resolutions on problem accounts. At April 30, 2024, 3.1% of the Company’s finance receivables balances were 30 days or more past due compared to 3.6% at April 30, 2023. 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 to repossess vehicles. Accounts one to three days late are contacted by telephone or text messaging notifications. Notes from each contact are electronically maintained in the Company’s computer system. The Company also utilizes text messaging notifications that allows customers the option to receive due date reminders and late notifications, if applicable. The Company attempts to resolve payment delinquencies amicably prior to repossessing a vehicle. If a customer becomes severely delinquent in his or her payments, and management determines that timely collection of future payments is not probable, the Company will take steps to repossess the vehicle. 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 other concessions are granted to customers, beyond the extension of additional time, at the time of modifications. Modifications are minor and are made for payday changes, minor vehicle repairs and other reasons. For those vehicles that are repossessed, the majority are returned or surrendered by the customer on a voluntary basis. Other repossessions are performed by Company personnel or third-party repossession agents. Depending on the condition of a repossessed vehicle, it is either resold on a retail basis through a Company dealership or sold for cash on a wholesale basis primarily through physical or online auctions. 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 probable. Accounts are charged-off after the expiration of a statutory notice period for repossessed accounts, or when management determines that the timely collection of future payments is not probable for accounts where the Company has been unable to repossess the vehicle. For accounts with respect to which the vehicle was repossessed, the fair value of the repossessed vehicle is charged as a reduction of the gross finance receivables balance charged-off. On average, accounts are approximately 70 days past due at the time of charge-off. For previously charged-off accounts that are subsequently recovered, the amount of such recovery is credited to the allowance for credit losses. During the second quarter of the 2024 fiscal year, the Company implemented third-party software to assist in calculating the Company’s allowance for credit losses. After implementation, the Company’s quantitative portion of the allowance for credit losses was measured using an undiscounted cash flow (“CF”) model. Whereby the undiscounted cash flows are adjusted by a prepayment rate and then the loss rate is applied and compared to the amortized cost basis of finance receivables to reflect management’s estimate of expected credit losses. The CF model is based on installment sale contract level characteristics of the Company’s finance receivables, such as the contractual payment structure, maturity date, payment frequency for recurring payments, and interest rates, as well as the following assumptions: ● a historical loss period, which represents a full economic credit cycle utilizing loss experience, to calculate the historical loss rate; and ● static annualized historical rate based on average time of charge-off; and ● expected prepayment rates based on our historical experience, which also incorporates non-standard contractual payments such as down payments made during the first ninety-days or annual seasonal payments. The Company’s allowance for credit losses also considers qualitative factors not captured within the CF modeled results such as changes in underwriting and collection practices, economic trends, changes in volume and terms of installment sales contracts, credit quality trends, installment sale contract review results, collateral trends, and concentrations of credit. The Company’s qualitative factors incorporate a macroeconomic variable forecast of inflation over a reasonable and supportable forecast period of one year that affects its customers’ non-discretionary income and ability to repay. The reasonable and supportable forecast period of one year is based on management’s current review of the reliability of extended forecasts and is applied as an adjustment to the historical loss rate. As a result of this update to our methodology and the performance of our loan portfolio, the Company increased the provision for credit losses by $28.0 million and decreased net income by $21.8 million, or basic per share loss of $3.40 per share, upon implementation of the third-party software on our condensed consolidated statement of operations during the second quarter of the 2024 fiscal year and had no effect on periods prior to this. During the third quarter of fiscal year 2024, the Company decreased the allowance for credit loss from 26.04% to 25.74%, resulting in a $3.9 million benefit to the provision. During the fourth quarter of fiscal year 2024, the Company decreased the allowance for credit loss from 25.74% to 25.32%, resulting in a $5.4 million benefit to the provision. The decrease in the third and fourth quarters of the 2024 fiscal year were primarily driven by the lower overall inflationary outlook, fewer past due balances at third quarter end, changes in the underwriting process and refinements to the underwriting guidelines due to the implementation of the Company’s new loan origination system. The Company maintains an allowance for credit losses on an aggregate basis at an amount it considers sufficient to cover net credit losses expected over the remaining life of the installment sales contracts in the portfolio at the measurement date. At April 30, 2024, the weighted average total contract term was 47.9 months, with 36.1 months remaining. The allowance for credit losses at April 30, 2024, $331.3 million, was 25.32% of the principal balance in finance receivables of $1.4 billion, less deferred APP revenue of $51.8 million and deferred service contract revenue of $68.9 million, less pending APP claims of $6.4 million. The allowance for credit losses is periodically reviewed by management with any changes reflected in current operations. 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 a difference. At April 30, 2024, anticipated losses did not exceed deferred accident protection plan revenues. No such liability was required at April 30, 2024 or 2023.
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 amortized but are subject to qualitative annual impairment tests at the Company’s year-end. The impairment tests are based on the comparison of the fair value of the reporting unit to the carrying value of such unit. The implied goodwill is compared to the carrying value of the goodwill to determine the impairment, if any. There was no impairment of goodwill during the 2023 fiscal year. During the 2024 fiscal year, the Company evaluated goodwill and recorded an impairment of $267,000 due to the closing of a dealership during the first quarter of fiscal 2024. The Company had $14.4 million and $11.7 million of goodwill for the periods ended April 30, 2024 and 2023, respectively. Goodwill increased by $2.7 million during the year ended April 30, 2024 due to the acquisition of a dealership business during the current year, which was partially offset by the impairment mentioned above.
Property, Plant and Equipment, Policy [Policy Text Block]	Furniture, fixtures and equipment 3 to 7 years Leasehold improvements 5 to 15 years Buildings and improvements 18 to 39 years
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-Lived Assets Long-lived assets, such as property and equipment, capitalized internal-use software and operating lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, such assets are considered to be impaired, and the impairment is recognized to the extent that the carrying value exceeds its fair value. There were no impairment charges recognized during any of the periods presented.
Cloud Computing Implementation Costs [Policy Text Block]	Cloud Computing Implementation Costs The Company enters into cloud computing service contracts to support its sales, inventory management, and administrative activities. The Company capitalizes certain implementation costs for cloud computing arrangements that meet the definition of a service contract. The Company includes these capitalized implementation costs within Prepaid expenses and other assets on the Consolidated Balance Sheets. Once placed in service, the Company amortizes these costs over the remaining subscription term to the same caption on the Consolidated Statement of Operations as the related cloud subscription. Capitalized implementation costs for cloud computing arrangements accounted for as service contracts were $16.7 million and $10.8 million as of April 30, 2024, and 2023, respectively. Accumulated amortization of capitalized implementation costs for these arrangements was $339,500 and $136,709 as of April 30, 2024 and 2023, respectively.
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 of its revolving credit facilities. Any cash overdraft balance principally represents outstanding checks, net of any deposits in transit that as of the balance sheet date had not yet been presented for payment. Any cash overdraft balance is reflected in accrued liabilities on the Company’s Consolidated Balance Sheets.
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 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 bases 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. 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 sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company applies this methodology to all tax positions for which the statute of limitations remains open. 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 longer subject to U.S. federal, state and local income tax examinations by tax authorities for the fiscal years before 2020. 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 accrued penalties or interest as of April 30, 2024 and 2023, respectively.
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” interest method over the life of the contract so that revenues are recognized in proportion to the amount of cancellation protection provided. Accident protection plan revenues are included in sales and related losses are included in cost of sales as incurred. Interest income is recognized on all active finance receivables accounts using the simple effective interest method. Active accounts include all accounts except those that have been paid-off or charged-off. Sales consist of the following for the years ended April 30, 2024, 2023 and 2022: Years Ended April 30, (In thousands) 2024 2023 2022 Sales – used autos $ 1,003,640 $ 1,057,465 $ 918,414 Wholesales – third party 52,463 54,610 46,625 Service contract sales 67,213 57,593 42,958 Accident protection plan revenue 37,482 34,526 30,685 Total $ 1,160,798 $ 1,204,194 $ 1,038,682 At April 30, 2024 and 2023, finance receivables more than 90 days past due were approximately $4.5 million and $3.9 million, respectively. Late fee revenues totaled approximately $4.9 million, $4.4 million, and $3.1 million for the fiscal years ended 2024, 2023, and 2022, respectively. Late fee revenue is recognized when collected and is reflected within Interest and other income During the years ended April 30, 2024 and 2023, the Company recognized $34.8 million and $26.8 million of revenues that were included in deferred service contract revenues for the years ended April 30, 2023 and 2022, respectively.
Advertising Cost [Policy Text Block]	Advertising Costs Advertising costs are expensed as incurred and consist principally of television, radio, print media and digital marketing costs. Advertising costs amounted to $4.3 million, $5.8 million and $5.0 million for the years ended April 30, 2024, 2023 and 2022, respectively.
Postemployment Benefit Plans, Policy [Policy Text Block]	Employee Benefit Plans The Company has 401(k) plans for all of its employees meeting certain eligibility requirements. The plans provide for voluntary employee contributions and the Company matches 50% of employee contributions up to a maximum of 6% of each employee’s compensation. The Company contributed approximately $1.1 million, $1.2 million, and $1.2 million to the plans for the years ended April 30, 2024, 2023 and 2022, respectively. The Company offers employees the right to purchase common shares at a 15% discount from market price under the 2006 Employee Stock Purchase Plan which was approved by shareholders in October 2006. The Company takes a charge to earnings for the 15% discount, included in stock-based compensation. Amounts for fiscal years 2024, 2023 and 2022 were not material individually or in the aggregate. A total of 200,000 shares were registered and 125,149 remain available for issuance under this plan at April 30, 2024.
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 issue either new shares or treasury shares upon exercise of these awards. Stock-based compensation plans, related expenses, and assumptions used in the Black-Scholes option pricing model are more fully described in Note K. If an award contains a performance condition, expense is recognized only for those shares for which it is considered reasonably probable as of the current period end that the performance condition will be met. The Company accounts for forfeitures as they occur and records any excess tax benefits or deficiencies from equity awards in the Consolidated Statements of Operations in the reporting period in which the exercises occur. The Company recorded a discrete income tax benefit of approximately $227,000 and $558,000 during the years ended April 30, 2024 and 2023, respectively. As a result, the Company’s income tax expenses and associated effective tax rate will be impacted by fluctuations in stock price between the grant dates and exercise dates of equity awards.
Treasury Stock [Policy Text Block]	Treasury Stock The Company purchased 4,274, 57,856, and 304,204 shares of its common stock to be held as treasury stock for a total cost of $365,000, $5.2 million, $34.7 million during the years ended April 30, 2024, 2023 and 2022, respectively. Treasury stock may be used for issuances under the Company’s stock-based compensation plans or for other general corporate purposes. The Company has a reserve account of 10,000 shares of treasury stock to secure outstanding service contracts issued in Iowa in accordance with the regulatory requirements of that state and another reserve account of 14,000 shares of treasury stock for its subsidiary, ACM Insurance Company, in accordance with the requirements of the Arkansas Department of Insurance.
Lessee, Leases [Policy Text Block]	Facility Leases The Company’s leases primarily consist of operating leases related to retail stores, office space, and land. For more information on financing obligations, see Note F. The initial term for real property leases is typically 3 to 10 years. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 3 to 10 years or more. The Company includes options to renew (or terminate) in the lease term, and as part of the right-of-use (“ROU”) asset and lease liability, when it is reasonably certain that the options will be exercised. The weighted average remaining lease term as of April 30, 2024 was 11.4 years. The ROU asset and the related lease liability are initially measured at the present value of future lease payments over the lease term. As most leases do not provide an implicit interest rate, the Company obtains a quote for a collateralized debt obligation from a group of lenders each quarter to determine the present value of future payments of leases commenced for that quarter. The weighted average discount rate as of April 30, 2024 was 4.6%. The Company includes variable lease payments in the initial measurement of ROU assets and lease liabilities only to the extent they depend on an index or rate. Changes in such indices or rates are accounted for in the period the change occurs, and do not result in the remeasurement of the ROU asset or liability. The Company is also responsible for payment of certain real estate taxes, insurance, and other expenses on leases. These amounts are generally considered to be variable and are not included in the measurement of the ROU asset and lease liability. Non-lease components are generally accounted for separately from lease components. The Company’s leases do not contain any material residual value guarantees or material restricted covenants.
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 yet effective will not have a material impact on its consolidated financial statements upon adoption. In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, Financial Instruments Credit Losses In October 2023, the FASB issued an accounting pronouncement (ASU 2023-06) related to disclosure or presentation requirements for various subtopics in the FASB’s Accounting Standards Codification (“Codification”). The amendments in the update are intended to align the requirements in the Codification with the U.S. Securities and Exchange Commission's (“SEC”) regulations and facilitate the application of GAAP for all entities. The effective date for each amendment is the date on which the SEC removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or if the SEC has not removed the requirements by June 30, 2027, this amendment will be removed from the Codification and will not become effective for any entity. Early adoption is prohibited. We do not expect this update to have a material impact on our consolidated financial statements. In December 2023, the FASB issued an accounting pronouncement (ASU 2023-09) related to income tax disclosures. The amendments in this update are intended to enhance the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. This update is effective for annual periods beginning after December 15, 2024, though early adoption is permitted. We plan to adopt this pronouncement for our fiscal year beginning May 1, 2025, and we do not expect it to have a material effect on our consolidated financial statements.

Note B - Summary of Significa_2

Note B - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Restrictions on Cash and Cash Equivalents [Table Text Block]	(In thousands) April 30, 2024 April 30, 2023 Restricted cash from collections on auto finance receivables $ 43,956 $ 34,442 Restricted cash on deposit in reserve accounts 44,969 23,796 Restricted Cash $ 88,925 $ 58,238
Property, Plant, and Equipment Useful Life [Table Text Block]	Furniture, fixtures and equipment 3 to 7 years Leasehold improvements 5 to 15 years Buildings and improvements 18 to 39 years
Revenue from External Customers by Products and Services [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 2022 Sales – used autos $ 1,003,640 $ 1,057,465 $ 918,414 Wholesales – third party 52,463 54,610 46,625 Service contract sales 67,213 57,593 42,958 Accident protection plan revenue 37,482 34,526 30,685 Total $ 1,160,798 $ 1,204,194 $ 1,038,682

Note C - Finance Receivables,_2

Note C - Finance Receivables, Net (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(In thousands) April 30, 2024 April 30, 2023 Gross contract amount $ 1,844,392 $ 1,752,149 Less unearned finance charges (409,004 ) (378,777 ) Principal balance 1,435,388 1,373,372 Less: estimated insurance receivables for APP claims (3,026 ) (5,694 ) Less: allowance for APP claims (3,171 ) (5,310 ) Less: allowance for credit losses (331,260 ) (299,608 ) Finance receivables, net 1,097,931 1,062,760 Loan origination costs 660 700 Finance receivables, net, including loan origination costs 1,098,591 1,063,460
Change In Finance Receivables Net [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 2022 Balance at beginning of period $ 1,062,760 $ 855,424 $ 626,077 Finance receivable originations 1,079,946 1,161,132 1,009,859 Finance receivable collections (455,828 ) (434,458 ) (417,796 ) Provision for credit losses (423,406 ) (352,860 ) (238,054 ) Losses on claims for accident protection plan (34,504 ) (25,107 ) (21,871 ) Inventory acquired in repossession and accident protection plan claims (131,037 ) (141,371 ) (102,791 ) Balance at end of period $ 1,097,931 $ 1,062,760 $ 855,424
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 2022 Balance at beginning of period $ 299,608 $ 237,823 $ 177,267 Provision for credit losses 423,406 352,860 238,054 Charge-offs (525,634 ) (414,397 ) (260,039 ) Recovered collateral 133,880 123,322 82,541 Balance at end of period $ 331,260 $ 299,608 $ 237,823
Financing Receivable, Past Due [Table Text Block]	(Dollars in thousands) April 30, 2024 April 30, 2023 Principal Percent of Principal Percent of Balance Portfolio Balance Portfolio Current $ 1,125,945 78.44 % $ 1,166,860 84.96 % 3 - 29 days past due 264,491 18.43 % 156,943 11.43 % 30 - 60 days past due 34,042 2.37 % 37,214 2.71 % 61 - 90 days past due 6,438 0.45 % 8,407 0.61 % > 90 days past due 4,472 0.31 % 3,948 0.29 % Total $ 1,435,388 100.00 % $ 1,373,372 100.00 %
Financing Receivable Credit Quality Indicators [Table Text Block]	Twelve Months Ended 2024 2023 Average total collected per active customer per month $ 554 $ 534 Principal collected as a percent of average finance receivables 31.7 % 34.7 % Average down-payment percentage 5.4 % 5.4 % Average originating contract term (in months 44.0 42.9 April 30, 2024 April 30, 2023 Portfolio weighted average contract term, including modifications (in months 47.9 46.3
Schedule of Financing Receivable by Fiscal Year of Origination [Table Text Block]	Customer Score by Fiscal Year of Origination Prior to (Dollars in thousands) 2024 2023 2022 2021 2020 2020 Total % 1-2 $ 43,445 $ 13,757 $ 3,668 $ 375 $ 95 $ 6 $ 61,346 4.3 % 3-4 300,323 117,904 36,349 4,552 325 158 459,611 32.0 % 5-6 485,535 291,198 116,611 19,452 1,216 419 914,431 63.7 % Total $ 829,303 $ 422,859 $ 156,628 $ 24,379 $ 1,636 $ 583 $ 1,435,388 100.0 % Gross charge-offs $ 155,385 $ 265,609 $ 88,160 $ 14,835 $ 1,081 $ 564 $ 525,634 Customer Score by Fiscal Year of Origination Prior to (Dollars in thousands) 2023 2022 2021 2020 2019 2019 Total % 1-2 $ 38,743 $ 12,983 $ 2,736 $ 329 $ 32 $ 6 $ 54,829 4.0 % 3-4 294,972 105,101 24,982 1,698 243 137 427,133 31.1 % 5-6 563,581 254,945 66,436 5,390 687 371 891,410 64.9 % Total $ 897,296 $ 373,029 $ 94,154 $ 7,417 $ 962 $ 514 $ 1,373,372 100.0 %

Note D - Property and Equipme_2

Note D - Property and Equipment (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In thousands) April 30, 2024 April 30, 2023 Land $ 11,998 $ 12,386 Buildings and improvements 23,435 20,894 Furniture, fixtures and equipment 21,752 18,989 Leasehold improvements 50,689 47,315 Construction in progress 2,393 7,176 Accumulated depreciation and amortization (49,906 ) (45,078 ) Property and equipment, net $ 60,361 $ 61,682

Note E - Accrued Liabilities (T

Note E - Accrued Liabilities (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(In thousands) April 30, 2024 April 30, 2023 Employee compensation and benefits $ 10,774 $ 11,197 Deferred sales tax 6,234 8,543 Fair value of contingent consideration 3,193 1,943 Other 7,627 6,229 Accrued liabilities $ 27,828 $ 27,912

Note F - Debt (Tables)

Note F - Debt (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	(In thousands) 2024 2023 Revolving line of credit $ 201,743 $ 168,516 Debt issuance costs (924 ) (1,285 ) Revolving line of credit, net $ 200,819 $ 167,231 Non-recourse notes payable - 2022-1 Issuance $ - $ 134,137 Non-recourse notes payable - 2023-1 Issuance 150,190 338,777 Non-recourse notes payable - 2023-2 Issuance 203,189 - Non-recourse notes payable - 2024-1 Issuance 202,916 - Debt issuance costs (2,666 ) (1,547 ) Non-recourse notes payable, net $ 553,629 $ 471,367 Total debt $ 754,448 $ 638,598
Debt Instrument, Debt and Interest Rates [Table Text Block]	Original Principal Balance (in thousands) Weighted Average Fixed 2023-1 $ 400,200 8.68 % 2023-2 360,300 8.80 % 2024-1 250,000 9.50 %

Note G - Fair Value Measureme_2

Note G - Fair Value Measurements (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	April 30, 2024 April 30, 2023 Carrying Fair Carrying Fair (In thousands) Cash and cash equivalents $ 5,522 $ 5,522 $ 9,796 $ 9,796 Restricted cash 88,925 88,925 58,238 58,238 Inventory - Repossessions 18,182 18,182 16,451 16,451 Finance receivables, net 1,098,591 882,764 1,063,460 844,624 Accounts payable 21,379 21,379 27,196 27,196 Contingent Consideration 3,193 3,193 1,943 1,943 Revolving line of credit, net 200,819 200,819 167,231 167,231 Non-recourse notes payable 553,629 553,003 471,367 470,209

Note H - Income Taxes (Tables)

Note H - Income Taxes (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 2022 Provision for income taxes Current $ 12,765 $ (3,504 ) $ 18,871 Deferred (21,507 ) 8,866 8,750 Total $ (8,742 ) $ 5,362 $ 27,621
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 2022 Tax provision at statutory rate $ (8,428 ) $ 5,417 $ 25,753 State taxes, net of federal benefit (1,204 ) 774 3,679 Tax benefit from option exercises (227 ) (558 ) (1,356 ) Other, net 1,117 (271 ) (455 ) Total $ (8,742 ) $ 5,362 $ 27,621
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Years Ended April 30, (In thousands) 2024 2023 Deferred income tax liabilities related to: Finance receivables $ 46,056 $ 47,486 Property and equipment 3,222 3,262 Goodwill 426 281 Total 49,704 51,029 Deferred income tax assets related to: Accrued liabilities 2,218 3,051 Inventory 152 204 Share based compensation 4,803 4,634 Net operating loss 20,700 164 Interest expense limitation (7 ) - Deferred revenue 4,030 3,661 Total 31,896 11,714 Deferred income tax liabilities, net $ 17,808 $ 39,315

Note J - Weighted Average Sha_2

Note J - Weighted Average Shares Outstanding (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Years Ended April 30, 2024 2023 2022 Weighted average shares outstanding-basic 6,388,537 6,371,229 6,509,673 Dilutive options and restricted stock - 195,667 313,808 Weighted average shares outstanding-diluted 6,388,537 6,566,896 6,823,481 Antidilutive securities not included: Options 368,118 315,625 120,000 Restricted Stock 9,898 15,231 4,784

Note K - Stock-based Compensa_2

Note K - Stock-based Compensation Plans (Tables)	12 Months Ended
	Apr. 30, 2024
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 January 25, 2034 Shares available for grant at April 30, 2024 102,514
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Years Ended April 30, 2024 2023 2022 Expected term (years) 3.9 5.5 5.5 Risk-free interest rate 4.06 % 3.60 % 0.86 % Volatility 56 % 55 % 51 % Dividend yield - - -
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number Exercise Proceeds Weighted Average of Price on Exercise Price per Options per Share Exercise Share (in thousands) Outstanding at April 30, 2021 566,400 $ 41,026 $ 72.43 Granted 30,000 $ 150.83 4,525 150.83 Exercised (94,000 ) $ 24.37 to $ 150.83 (6,276 ) 66.76 Cancelled (1,000 ) $ 41.86 (42 ) 41.86 Outstanding at April 30, 2022 501,400 $ 39,232 $ 78.25 Granted 140,000 $ 61.02 to $ 94.59 9,687 69.19 Exercised (28,000 ) $ 44.52 to $ 53.02 (1,439 ) 51.38 Cancelled - - Outstanding at April 30, 2023 613,400 $ 47,480 $ 77.41 Granted 197,486 $ 70.57 to $ 86.30 14,279 72.30 Exercised (35,000 ) $ 36.54 to $ 54.85 (1,828 ) 52.23 Cancelled (40,000 ) $ 109.06 (4,362 ) 109.06 Outstanding at April 30, 2024 735,886 $ 55,569 $ 75.51
Schedule of Share-based Compensation, Stock Options, Exercises [Table Text Block]	Years Ended April 30, (Dollars in thousands) 2024 2023 2022 Options Exercised 35,000 28,000 94,000 Cash Received from Options Exercised $ - $ 1,216 $ 591 Intrinsic Value of Options Exercised $ 1,145 $ 1,412 $ 7,124
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Number Weighted Average Unvested shares at April 30, 2021 192,018 $ 51.70 Shares granted 11,287 121.17 Shares vested (6,500 ) 39.14 Shares cancelled (15,691 ) 59.99 Unvested shares at April 30, 2022 181,114 $ 55.76 Shares granted 40,470 68.78 Shares vested (29,500 ) 35.31 Shares cancelled (10,301 ) 69.14 Unvested shares at April 30, 2023 181,783 $ 61.22 Shares granted 74,647 68.56 Shares vested (13,037 ) 62.78 Shares cancelled (32,183 ) 61.14 Unvested shares at April 30, 2024 211,210 $ 63.73

Note L - Commitments and Cont_2

Note L - Commitments and Contingencies (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years Ending Amount April 30, (In thousands) 2025 $ 9,172 2026 8,768 2027 8,274 2028 7,581 2029 6,627 Thereafter 42,432 Total undiscounted operating lease payments 82,854 Less: imputed interest 18,604 Present value of operating lease liabilities $ 64,250

Note M - Supplemental Cash Fl_2

Note M - Supplemental Cash Flow Information (Tables)	12 Months Ended
	Apr. 30, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Years Ended April 30, (in thousands) 2024 2023 2022 Supplemental disclosures: Interest paid $ 65,647 $ 36,605 $ 10,421 Income taxes paid, net 6,459 5,480 19,238 Non-cash transactions: Inventory acquired in repossession and accident protection plan claims 137,366 127,035 84,096 Reduction in net receivables for deferred ancillary product revenue at time of charge-off 37,877 30,665 16,814 Net settlement option exercises 1,828 223 5,685 Right-of-use assets obtained in exchange for operating lease liabilities 2,134 578 3,176 Right-of-use assets obtained in exchange for operating lease liabilities through acquisitions 1,822 1,729 -

Note A - Organization and Bus_2

Note A - Organization and Business (Details Textual)	12 Months Ended
	Apr. 30, 2024
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)	1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2023	Apr. 30, 2024 USD ($) shares	Jan. 31, 2024 USD ($)	Oct. 31, 2023	Apr. 30, 2024 USD ($) $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares	Apr. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2023	May 01, 2023 USD ($)	Apr. 30, 2021 USD ($)
Number of Reportable Segments					1
Average Finance Receivable Interest Rate					16.90%
Financing Receivable Interest Rate	18%				18.25%
Finance Receivables, Customer Payments Due Either Weekly or Bi-Weekly, Percentage					78.30%
Financing Receivable, Greater Than or Equal to 30 Days Past Due, Percent of Portfolio		3.10%			3.10%	3.60%
Financing Receivable, Allowance for Credit Loss		$ 331,260,000			$ 331,260,000	$ 299,608,000	$ 237,823,000			$ 177,267,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest					$ (31,393,000)	$ 20,432,000	$ 95,014,000
Earnings Per Share, Basic | $ / shares					$ (4.92)	$ 3.2	$ 14.59
Allowance for Credit Loss, Percentage		25.32%	25.74%	26.04%
Financing Receivable, Weighted Average Total Contract Term					47 months 27 days
Financing Receivable, Remaining Contract Term					36 months 3 days
Financing Receivables, Allowance for Credit Losses and Other Losses					$ 331,300,000
Finance Receivables, Allowance, Percent of Principle Balance		25.32%	25.74%		25.32%	23.91%	23.57%	26.04%		23.55%
Finance Receivable, Principal Balance		$ 1,435,388,000			$ 1,435,388,000	$ 1,373,372,000
Goodwill, Impairment Loss						267,000
Goodwill		14,400,000			14,400,000	11,700,000
Goodwill, Period Increase (Decrease)						2,700,000
Financing Receivable, Recorded Investment Greater Than 90 Days Past Due		$ 4,500,000			4,500,000	3,900,000
Late Fee Income Generated by Servicing Financial Assets, Amount					$ 4,900,000	$ 4,400,000	$ 3,100,000
Late Fee Income, Servicing Financial Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]					Interest and other income	Interest and other income	Interest and other income
Contract with Customer, Liability, Revenue Recognized					$ 34,800,000	$ 26,800,000
Advertising Expense					$ 4,300,000	5,800,000	$ 5,000,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Match					50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay					6%
Defined Contribution Plan, Employer Contribution Amount					$ 1,100,000	1,200,000	$ 1,200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | shares		102,514			102,514
Tax Adjustments, Settlements, and Unusual Provisions					$ 227,000	$ 558,000
Stock Repurchased During Period, Shares | shares					4,274	57,856	304,204
Stock Repurchased During Period, Value					$ 365,000	$ 5,200,000	$ 34,700,000
Treasury Stock Shares to Establish Reserve Account to Secure Service Contracts | shares					10,000
Operating Lease, Weighted Average Remaining Lease Term		11 years 4 months 24 days			11 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent		4.60%			4.60%
ACM Insurance Company [Member]
Treasury Stock, Shares to Establish Reserve Account to Meet Regulatory Requirements for Insurance Company | shares					14,000
2006 Employee Stock Purchase Plan [Member]
Common Stock Discount on Shares Percentage		15%			15%
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized | shares		200,000			200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | shares		125,149			125,149
Capitalized Computing Implementation Service Contract [Member]
Capitalized Contract Cost, Net		$ 16,700,000,000			$ 16,700,000,000	10,800,000,000
Capitalized Contract Cost, Amortization					339,500	136,709
Accident Protection Plan [Member]
Contract with Customer, Liability		51,800,000			51,800,000
Service Contract [Member]
Contract with Customer, Liability		68,945,000			68,945,000	$ 67,404,000
Accident Protection Plan Claims [Member]
Contract with Customer, Refund Liability		6,400,000			6,400,000
Change in Accounting Method Accounted for as Change in Estimate [Member]
Financing Receivable, Allowance for Credit Loss		$ 5,400,000	$ 3,900,000		5,400,000				$ 28,000,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest					$ 21,800,000
Earnings Per Share, Basic | $ / shares					$ 3.4
Minimum [Member]
Lessee, Operating Lease, Term of Contract		3 years			3 years
Lessee, Operating Lease, Renewal Term		3 years			3 years
Minimum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment, Useful Life		3 years			3 years
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life		5 years			5 years
Minimum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life		18 years			18 years
Maximum [Member]
Financing Receivable Interest Rate					18.25%
Lessee, Operating Lease, Term of Contract		10 years			10 years
Lessee, Operating Lease, Renewal Term		10 years			10 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment, Useful Life		7 years			7 years
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life		15 years			15 years
Maximum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life		39 years			39 years
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%
ARKANSAS
Financing Receivable Interest Rate	16.75%
ARKANSAS | Maximum [Member]
Financing Receivable Interest Rate					16.75%
ILLINOIS | Minimum [Member]
Financing Receivable Interest Rate					19.50%
ILLINOIS | Maximum [Member]
Financing Receivable Interest Rate					21.50%
TENNESSEE
Financing Receivable Interest Rate					23%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Arkansas, USA [Member]
Concentration Risk, Percentage					27%

Note B - Summary of Significa_4

Note B - Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Restricted cash	$ 88,925	$ 58,238
Collections On Auto Finance Receivables [Member]
Restricted cash	43,956	34,442
Deposit in Reserve Accounts [Member]
Restricted cash	$ 44,969	$ 23,796

Note B - Summary of Significa_5

Note B - Summary of Significant Accounting Policies - Property and Equipment, Estimated Useful Lives (Details)	Apr. 30, 2024
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	7 years
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	18 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	39 years

Note B - Summary of Significa_6

Note B - Summary of Significant Accounting Policies - Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Sales	$ 1,160,798	$ 1,204,194	$ 1,038,682
Sales Used Autos [Member]
Sales	1,003,640	1,057,465	918,414
Wholesales Third Party [Member]
Sales	52,463	54,610	46,625
Service Contract Sales [Member]
Sales	67,213	57,593	42,958
Payment Protection Plan Revenue [Member]
Sales	$ 37,482	$ 34,526	$ 30,685

Note C - Finance Receivables,_3

Note C - Finance Receivables, Net (Details Textual)	1 Months Ended	12 Months Ended
	Dec. 31, 2023	Apr. 30, 2024 USD ($)	Apr. 30, 2023 USD ($)	Apr. 30, 2022 USD ($)	Jan. 31, 2024	Sep. 30, 2023	Apr. 30, 2021
Financing Receivable Interest Rate	18%	18.25%
Finance Receivables, Number of Loan Classes		1
Finance Receivables, Number of Risk Pools		1
Financing Receivable, after Allowance for Credit Loss		$ 1,098,591,000	$ 1,063,460,000
Financing Receivable, Allowance for Credit Loss, Recovery		$ 2,800,000	$ 2,500,000	$ 2,400,000
Finance Receivables, Allowance, Percent of Principle Balance		25.32%	23.91%	23.57%	25.74%	26.04%	23.55%
Collections as Percentage of Average Financing Receivables		3.70%
Increase (Decrease) in Average Selling Price		$ 1,033
Increase (Decrease) in Average Selling Price, Percentage		5.70%
Automobile Loan [Member] | Asset Pledged as Collateral [Member] | Notes Payable [Member]
Financing Receivable, after Allowance for Credit Loss		$ 814,700,000	$ 721,900,000
ARKANSAS
Financing Receivable Interest Rate	16.75%
TENNESSEE
Financing Receivable Interest Rate		23%
Maximum [Member]
Financing Receivable Interest Rate		18.25%
Financing Receivable Payment Period		69 months
Maximum [Member] | ARKANSAS
Financing Receivable Interest Rate		16.75%
Maximum [Member] | ILLINOIS
Financing Receivable Interest Rate		21.50%
Minimum [Member]
Financing Receivable Payment Period		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	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2021
Gross contract amount	$ 1,844,392	$ 1,752,149
Less unearned finance charges	(409,004)	(378,777)
Principal balance	1,435,388	1,373,372
Less: estimated insurance receivables for APP claims	(3,026)	(5,694)
Less: allowance for APP claims	(3,171)	(5,310)
Less: allowance for credit losses	(331,260)	(299,608)	$ (237,823)	$ (177,267)
Finance receivables, net	1,097,931	1,062,760	$ 855,424	$ 626,077
Loan origination costs	660	700
Finance receivables, net, including loan origination costs	$ 1,098,591	$ 1,063,460

Note C - Finance Receivables,_5

Note C - Finance Receivables, Net - Changes in Finance Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Balance at beginning of period	$ 1,062,760	$ 855,424	$ 626,077
Finance receivable originations	1,079,946	1,161,132	1,009,859
Finance receivable collections	(455,828)	(434,458)	(417,796)
Provision for credit losses	(423,406)	(352,860)	(238,054)
Losses on claims for accident protection plan	(34,504)	(25,107)	(21,871)
Inventory acquired in repossession and accident protection plan claims	(131,037)	(141,371)	(102,791)
Balance at end of period	$ 1,097,931	$ 1,062,760	$ 855,424

Note C - Finance Receivables,_6

Note C - Finance Receivables, Net - Changes in the Finance Receivables Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Balance at beginning of period	$ 299,608	$ 237,823	$ 177,267
Provision for credit losses	423,406	352,860	238,054
Charge-offs	(525,634)	(414,397)	(260,039)
Recovered collateral	133,880	123,322	82,541
Balance at end of period	$ 331,260	$ 299,608	$ 237,823

Note C - Finance Receivables,_7

Note C - Finance Receivables, Net - Credit Quality Information for Finance Receivables (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Principle Balance	$ 1,435,388	$ 1,373,372
Percent of Portfolio	100%	100%
Financial Asset, Not Past Due [Member]
Principle Balance	$ 1,125,945	$ 1,166,860
Percent of Portfolio		84.96%
Financial Asset, Past Due [Member]
Percent of Portfolio	78.44%
Financial Asset, 3 to 29 Days Past Due [Member]
Principle Balance	$ 264,491	$ 156,943
Percent of Portfolio	18.43%	11.43%
Financial Asset, 30 to 59 Days Past Due [Member]
Principle Balance	$ 34,042	$ 37,214
Percent of Portfolio	2.37%	2.71%
Financial Asset, 60 to 89 Days Past Due [Member]
Principle Balance	$ 6,438	$ 8,407
Percent of Portfolio	0.45%	0.61%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Principle Balance	$ 4,472	$ 3,948
Percent of Portfolio	0.31%	0.29%

Note C - Finance Receivables,_8

Note C - Finance Receivables, Net - Financing Receivables Analysis (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Average total collected per active customer per month	$ 554	$ 534
Portfolio weighted average contract term, including modifications (in months) (Month)	47 months 27 days	46 months 9 days
Principal collected as a percent of average finance receivables	31.70%	34.70%
Average down-payment percentage	5.40%	5.40%
Average originating contract term (in months) (Month)	44 months	42 months 27 days

Note C - Finance Receivables,_9

Note C - Finance Receivables, Net - Finance Receivable Summarized by Fiscal Year of Origination (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Current year, principal balance	$ 829,303	$ 897,296
Year two, principal balance	422,859	373,029
Year three, principal balance	156,628	94,154
Year four, principal balance	24,379	7,417
Year five, principal balance	1,636	962
Prior, principal balance	583	514
Finance Receivable, Principal Balance	$ 1,435,388	$ 1,373,372
Principal balance, percentage	100%	100%
Charge-offs, current year	$ 155,385
Charge-offs, year two	265,609
Charge-offs, year three	88,160
Charge-offs, year four	14,835
Charge-offs, year five	1,081
Charge-offs, prior	564
Charge-offs	525,634	$ 414,397	$ 260,039
Customer Score 1-2 [Member]
Current year, principal balance	43,445	38,743
Year two, principal balance	13,757	12,983
Year three, principal balance	3,668	2,736
Year four, principal balance	375	329
Year five, principal balance	95	32
Prior, principal balance	6	6
Finance Receivable, Principal Balance	$ 61,346	$ 54,829
Principal balance, percentage	4.30%	4%
Customer Score 3-4 [Member]
Current year, principal balance	$ 300,323	$ 294,972
Year two, principal balance	117,904	105,101
Year three, principal balance	36,349	24,982
Year four, principal balance	4,552	1,698
Year five, principal balance	325	243
Prior, principal balance	158	137
Finance Receivable, Principal Balance	$ 459,611	$ 427,133
Principal balance, percentage	32%	31.10%
Customer Score 5-6 [Member]
Current year, principal balance	$ 485,535	$ 563,581
Year two, principal balance	291,198	254,945
Year three, principal balance	116,611	66,436
Year four, principal balance	19,452	5,390
Year five, principal balance	1,216	687
Prior, principal balance	419	371
Finance Receivable, Principal Balance	$ 914,431	$ 891,410
Principal balance, percentage	63.70%	64.90%

Note D - Property and Equipme_3

Note D - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Less accumulated depreciation and amortization	$ (49,906)	$ (45,078)
Total	60,361	61,682
Land [Member]
Property and equipment	11,998	12,386
Building and Building Improvements [Member]
Property and equipment	23,435	20,894
Furniture, Fixtures and Equipment [Member]
Property and equipment	21,752	18,989
Leasehold Improvements [Member]
Property and equipment	50,689	47,315
Construction in Progress [Member]
Property and equipment	$ 2,393	$ 7,176

Note E - Accrued Liabilities -

Note E - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Employee compensation	$ 10,774	$ 11,197
Deferred sales tax (see Note B)	6,234	8,543
Fair value of contingent consideration	3,193	1,943
Other	7,627	6,229
Total	$ 27,828	$ 27,912

Note F - Debt (Details Textual)

Note F - Debt (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Notes Payable [Member]
Minimum Percent of Pool Balance	2%
Revolving Credit Facility [Member] | BMO Harris Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 340
Debt Instrument, Base Rate	8.50%
Debt Instrument, Interest Rate, Effective Percentage		8.25%
Line of Credit Facility, Additional Borrowing Capacity, Accordion Feature	$ 73.4
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	3.50%
Revolving Credit Facility [Member] | BMO Harris Bank [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	100%

Note F - Debt - Summary of Debt

Note F - Debt - Summary of Debt Facilities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Revolving line of credit, net	$ 200,819	$ 167,231
Non-recourse notes payable, net	553,629	471,367
Total debt	754,448	638,598
Line of Credit [Member]
Debt facilities, gross	201,743	168,516
Debt issuance costs	(924)	(1,285)
Non Recourse Notes Payable, 2022 Issuance [Member]
Debt facilities, gross	0	134,137
Non Recourse Notes Payable, 2023 Issuance [Member]
Debt facilities, gross	150,190	338,777
Non Recourse Notes Payable, 2023-2 Issuance [Member]
Debt facilities, gross	203,189	0
Non Recourse Notes Payable 2024 Issuance [Member]
Debt facilities, gross	202,916	0
Notes Payable [Member]
Debt issuance costs	$ (2,666)	$ (1,547)

Note F - Debt - Balance and Cou

Note F - Debt - Balance and Coupon Rate (Details) $ in Millions	Apr. 30, 2024 USD ($)
Notes Payable, 2023 Issuance [Member]
Principal balance	$ 400.2
Weighted average fixed coupon rate	8.68%
Notes Payable, 2023-2 Issuance [Member]
Principal balance	$ 360.3
Weighted average fixed coupon rate	8.80%
Notes Payable 2024 Issuance [Member]
Principal balance	$ 250
Weighted average fixed coupon rate	9.50%

Note G - Fair Value Measureme_3

Note G - Fair Value Measurements (Details Textual)	1 Months Ended
	Oct. 31, 2022
Fair Value Inputs, Discount Rate, Intercompany Transactions	38.50%
Measurement Input, Discount Rate [Member] | Minimum [Member]
Receivables, Measurement Input	34%
Measurement Input, Discount Rate [Member] | Maximum [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	Apr. 30, 2024	Apr. 30, 2023
Reported Value Measurement [Member]
Cash and cash equivalents	$ 5,522	$ 9,796
Restricted cash	88,925	58,238
Inventory - Repossessions	18,182	16,451
Finance receivables, net	1,098,591	1,063,460
Accounts payable	21,379	27,196
Contingent Consideration	3,193	1,943
Revolving line of credit, net	200,819	167,231
Non-recourse notes payable	553,629	471,367
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	5,522	9,796
Restricted cash	88,925	58,238
Inventory - Repossessions	18,182	16,451
Finance receivables, net	882,764	844,624
Accounts payable	21,379	27,196
Contingent Consideration	3,193	1,943
Revolving line of credit, net	200,819	167,231
Non-recourse notes payable	$ 553,003	$ 470,209

Note H - Income Taxes - Provisi

Note H - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Current	$ 12,765	$ (3,504)	$ 18,871
Deferred	(21,507)	8,866	8,750
Total	$ (8,742)	$ 5,362	$ 27,621

Note H - Income Taxes - Reconci

Note H - Income Taxes - Reconciliation of Income Tax to Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Tax provision at statutory rate	$ (8,428)	$ 5,417	$ 25,753
State taxes, net of federal benefit	(1,204)	774	3,679
Tax benefit from option exercises	(227)	(558)	(1,356)
Other, net	1,117	(271)	(455)
Total	$ (8,742)	$ 5,362	$ 27,621

Note H - Income Taxes - Deferre

Note H - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Finance receivables	$ 46,056	$ 47,486
Property and equipment	3,222	3,262
Goodwill	426	281
Total	49,704	51,029
Deferred income tax assets related to:
Accrued liabilities	2,218	3,051
Inventory	152	204
Share based compensation	4,803	4,634
State net operating loss	20,700	164
Interest expense limitation	(7)	0
Deferred revenue	4,030	3,661
Total	31,896	11,714
Deferred income tax liabilities, net	$ 17,808	$ 39,315

Note I - Capital Stock (Details

Note I - Capital Stock (Details Textual) - USD ($)	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Common Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Issued, Total (in shares)	0	0
Subsidiaries [Member]
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Shares Issued, Total (in shares)	500,000
Preferred Stock, Dividend Rate, Percentage	8%
Preferred Stock Right of Shareholder, Amount of Shares	400,000
Preferred Stock, Right to Shareholder Value of Redeemed Stock	$ 400,000

Note J - Weighted Average Sha_3

Note J - Weighted Average Shares Outstanding - Weighted Average Shares of Common Stock Outstanding (Details) - shares	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Weighted average shares outstanding-basic (in shares)	6,388,537	6,371,229	6,509,673
Dilutive options and restricted stock (in shares)	0	195,667	313,808
Weighted average shares outstanding-diluted (in shares)	6,388,537	6,566,896	6,823,481
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	368,118	315,625	120,000
Restricted Stock [Member]
Antidilutive securities (in shares)	9,898	15,231	4,784

Note K - Stock-based Compensa_3

Note K - Stock-based Compensation Plans (Details Textual) - USD ($)					12 Months Ended
	Aug. 30, 2022	Aug. 26, 2020	Aug. 29, 2018	Aug. 05, 2015	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022	Aug. 28, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value					$ 1,600,000	$ 9,100,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)					197,486	140,000	30,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value					$ 5,700,000	$ 5,100,000	$ 2,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised Through Net Settlements					35,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Reduction in Shares Issued to Satisfy the Exercise Price and Applicable Withholding Taxes					26,632
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					8,368
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number					446,734
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value					$ 1,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term (Year)					5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price (in dollars per share)					$ 76.79
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense					$ 1,800,000	3,700,000	4,500,000
Share-Based Payment Arrangement, Expense, after Tax					1,400,000	2,900,000	3,400,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 2,100,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					2 years 1 month 6 days
Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period					3 years
Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period					5 years
Restated Option Plan [Member]
Share-Based Payment Arrangement, Expense					$ 3,700,000	5,300,000	5,500,000
Share-Based Payment Arrangement, Expense, after Tax					2,900,000	4,100,000	(4,200,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	185,000	200,000	200,000	300,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	2,385,000	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				10 years
Stock Incentive Plan [Member]
Share-Based Payment Arrangement, Expense					1,800,000	1,600,000	981,000
Share-Based Payment Arrangement, Expense, after Tax					1,400,000	1,200,000	749,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized			450,000					100,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 6,700,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					2 years 8 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value					$ 13,500,000	$ 11,100,000	$ 10,100,000

Note K - Stock-based Compensa_4

Note K - Stock-based Compensation Plans - Stock Option Plan Comparison (Details)	12 Months Ended
	Apr. 30, 2024 shares
Minimum exercise price as a percentage of fair market value at date of grant	100%
Last expiration date for outstanding options	Jan. 25, 2034
Shares available for grant at July 31, 2022 (in shares)	102,514

Note K - Stock-based Compensa_5

Note K - Stock-based Compensation Plans - Options Valuation Assumptions (Details)	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Expected terms (years) (Year)	3 years 10 months 24 days	5 years 6 months	5 years 6 months
Risk-free interest rate	4.06%	3.60%	0.86%
Volatility	56%	55%	51%

Note K - Stock-based Compensa_6

Note K - Stock-based Compensation Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2021
Number of Shares (in shares)	613,400	501,400	566,400
Proceeds on Exercise	$ 55,569	$ 47,480	$ 39,232	$ 41,026
Weighted Average Exercise Price (in dollars per share)	$ 77.41	$ 78.25	$ 72.43
Number of Shares, Granted (in shares)	197,486	140,000	30,000
Exercise Price, Granted (in dollars per share)	$ 72.3	$ 69.19	$ 150.83
Proceeds on Exercise, Granted	$ 14,279	$ 9,687	$ 4,525
Number of Shares, Exercised (in shares)	(35,000)	(28,000)	(94,000)
Exercise Price, Exercised (in dollars per share)	$ 52.23	$ 51.38	$ 66.76
Proceeds on Exercise, Exercised	$ (1,828)	$ (1,439)	$ (6,276)
Exercise Price, Exercised (in dollars per share)	$ 52.23	$ 51.38	$ 66.76
Number of Shares, Cancelled (in shares)	(40,000)	0	(1,000)
Exercise Price, Cancelled (in dollars per share)	$ 109.06		$ 41.86
Proceeds on Exercise, Cancelled	$ (4,362)	$ 0	$ (42)
Exercise Price, Granted (in dollars per share)	$ 72.3	$ 69.19	$ 150.83
Number of Shares (in shares)	735,886	613,400	501,400	566,400
Weighted Average Exercise Price (in dollars per share)	$ 75.51	$ 77.41	$ 78.25	$ 72.43
Minimum [Member]
Exercise Price, Granted (in dollars per share)	70.57	61.02
Exercise Price, Exercised (in dollars per share)	36.54	44.52	24.37
Exercise Price, Exercised (in dollars per share)	36.54	44.52	24.37
Exercise Price, Granted (in dollars per share)	70.57	61.02
Maximum [Member]
Exercise Price, Granted (in dollars per share)	86.3	94.59
Exercise Price, Exercised (in dollars per share)	54.85	53.02	150.83
Exercise Price, Exercised (in dollars per share)	54.85	53.02	$ 150.83
Exercise Price, Granted (in dollars per share)	$ 86.3	$ 94.59

Note K - Stock-based Compensa_7

Note K - Stock-based Compensation Plans - Options Exercised (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Options Exercised (in shares)	35,000	28,000	94,000
Cash Received from Options Exercised	$ 0	$ 1,216	$ 591
Intrinsic Value of Options Exercised	$ 1,145	$ 1,412	$ 7,124

Note K - Stock-based Compensa_8

Note K - Stock-based Compensation Plans - Stock Incentive Plan (Details) - Stock Incentive Plan [Member] - $ / shares	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Unvested shares (in shares)	181,783	181,114	192,018
Unvested shares, weighted average grant date fair value (in dollars per share)	$ 61.22	$ 55.76	$ 51.7
Shares granted (in shares)	74,647	40,470	11,287
Shares granted, weighted average grant date fair value (in dollars per share)	$ 68.56	$ 68.78	$ 121.17
Shares vested (in shares)	(13,037)	(29,500)	(6,500)
Shares vested, weighted average grant date fair value (in dollars per share)	$ 62.78	$ 35.31	$ 39.14
Shares cancelled (in shares)	(32,183)	(10,301)	(15,691)
Shares cancelled, weighted average grant date fair value (in dollars per share)	$ 61.14	$ 69.14	$ 59.99
Unvested shares (in shares)	211,210	181,783	181,114
Unvested shares, weighted average grant date fair value (in dollars per share)	$ 63.73	$ 61.22	$ 55.76

Note L - Commitments and Cont_3

Note L - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Letters of Credit Outstanding, Amount	$ 3,900
Lessee, Operating Lease, Liability, to be Paid	82,854
Operating Lease, Expense	9,000	$ 9,000	$ 8,000
Non-cancelable [Member]
Lessee, Operating Lease, Liability, to be Paid	23,800
Reasonably Assured [Member]
Lessee, Operating Lease, Liability, to be Paid	$ 59,100
Minimum [Member]
Lessee, Operating Lease, Term of Contract	3 years
Minimum [Member] | Dealership Leases [Member]
Lessee, Operating Lease, Term of Contract	3 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	10 years
Maximum [Member] | Dealership Leases [Member]
Lessee, Operating Lease, Term of Contract	5 years

Note L - Commitments and Cont_4

Note L - Commitments and Contingencies - Future Lease Obligations (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
2025	$ 9,172
2026	8,768
2027	8,274
2028	7,581
2029	6,627
Thereafter	42,432
Total undiscounted operating lease payments	82,854
Less: imputed interest	18,604
Present value of operating lease liabilities	$ 64,250	$ 62,300

Note M - Supplemental Cash Fl_3

Note M - Supplemental Cash Flow Information - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Interest paid	$ 65,647	$ 36,605	$ 10,421
Income taxes paid, net	6,459	5,480	19,238
Inventory acquired in repossession and accident protection plan claims	137,366	127,035	84,096
Reduction in net receivables for deferred ancillary product revenue at time of charge-off	37,877	30,665	16,814
Net settlement option exercises	1,828	223	5,685
Right-of-use assets obtained in exchange for operating lease liabilities	2,134	578	3,176
Right-of-use assets obtained in exchange for operating lease liabilities through acquisitions	$ 1,822	$ 1,729	$ 0

Note N - Subsequent Events (Det

Note N - Subsequent Events (Details Textual) - USD ($) $ in Thousands		1 Months Ended
	Jun. 03, 2024	Jul. 31, 2024	Jul. 01, 2024
Warehouse Facility [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate		3.50%
Subsequent Event [Member] | Warehouse Facility [Member]
Warehouse Agreement Borrowings			$ 150,000
Subsequent Event [Member] | Texas Auto Center Assets [Member]
Payments to Acquire Productive Assets	$ 7,500
Asset Acquisition Contingent Consideration Arrangements Range Of Outcomes Value Low	0
Asset Acquisition Contingent Consideration Arrangements Range Of Outcomes Value High	$ 15,000