Consumer Portfolio Services, Inc. (CPSS) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and welcome to the Consumer Portfolio Services 2025 Fourth Quarter and Full Year Operating Results Conference Call. Today's call is being recorded. Before we begin, management has asked me to inform you that this conference call may contain forward-looking statements. Any statements made during this call that are not statements of historical facts may be deemed forward-looking statements. Statements regarding current or historical valuation of receivables, because dependent on estimates of future events, are also forward-looking statements. All such forward-looking statements are subject to risks that could cause actual results to differ materially from those projected. I refer you to the company's annual report filed March 12, 2025, for further clarification. The company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, further events, or otherwise. With us here is Mr. Charles Bradley, Chief Executive Officer, Mr. Danny Barwani, Chief Financial Officer, and Mr. Mike Levin, President and Chief Operating Officer of Consumer Portfolio Services. I will now turn the call over to Mr. Bradley. Thank you and welcome everyone to the fourth quarter and year-end conference call. 2025 was a very good year. We might have actually expected it to be even better, but we didn't quite get the growth we were looking for. But still, overall, a very strong year. We focused on credit. We focused on keeping our margins. All in all, it was very good. A couple of highlights. We renewed or actually we signed a new warehouse line with Capital One for $150 million. We also signed a $900 million prime forward flow commitment. Both of those will be very instrumental in how we grow and what we're going to do in 202...