America's Car-Mart, Inc. (CRMT) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.456 the fiscal year ended April 30, 2025, 00:00:03.456 -- 00:00:08.263 and our current and quarterly reports furnished to or filed with the Securities Exchange 00:00:08.263 -- 00:00:11.889 Commission on Forms 8K and 10Q. 00:00:11.889 -- 00:00:15.574 As a note, the comparisons that we will make today will be the second quarter of fiscal 00:00:15.574 -- 00:00:21.182 2026 versus the second quarter of fiscal 2025, unless otherwise stated, 00:00:21.182 -- 00:00:26.510 and we will make several references to our supplemental materials posted on our website. 00:00:26.510 -- 00:00:29.134 Doug, I'll turn it over to you now. 00:00:29.134 -- 00:00:32.702 Thank you, Jonathan. And thank you, everyone, for your interest in America's Car Mart 00:00:32.702 -- 00:00:36.165 and for joining to hear more about our quarterly results. 00:00:36.165 -- 00:00:41.030 Let me start by addressing what's in the numbers and what the numbers don't fully capture. 00:00:41.030 -- 00:00:45.855 Our reported results reflect a net loss of $22.5 million, which includes approximately 00:00:45.855 -- 00:00:51.141 $20 million in non-cash reserve adjustments and one-time charges related to the strategic 00:00:51.141 -- 00:00:54.785 actions we're taking to reposition this business. 00:00:54.785 -- 00:00:58.958 More details are on page four in the supplemental presentation on this. 00:00:58.958 -- 00:01:03.065 These are deliberate investments in our future, and the underlying trends in our business 00:01:03.065 -- 00:01:07.012 are moving in the right direction. Let me highlight several developments from the quarter 00:01:07.012 -- 00:01:08.955 that are notable. 00:01:08.955 -- 00:01:13.964 First, consumer demand remains strong. Credit applications grew substantially year 00:01:13....