v3.26.1
Finance Receivables, Net (Tables)
 12 Months Ended
Apr. 30, 2026
Receivables [Abstract]  
Summary of Components of Finance Receivables The components of finance receivables as of April 30, 2026 and 2025 are as follows:
As of April 30,
(In thousands)20262025
Gross contract amount$1,821,480 $1,946,042 
Less unearned finance charges(408,421)(436,887)
                       Principal balance $1,413,059 $1,509,155 
Less: estimated insurance receivables for APP claims(2,149)(2,910)
Less: allowance for APP claims(2,420)(3,135)
Less allowance for credit losses(329,901)(323,100)
Finance receivables, net$1,078,589 $1,180,010 
Loan origination costs578 663 
Finance receivables, net, including loan origination costs$1,079,167 $1,180,673 
Summary of Changes in Finance Receivables
Changes in the finance receivables, net, for the years ended April 30, 2026, 2025 and 2024 are as follows:
As of April 30,
(In thousands)202620252024
Balance at beginning of period$1,180,010 $1,097,931 $1,062,760 
Finance receivable originations952,451 1,075,080 1,079,946 
Finance receivable collections(477,730)(469,379)(455,828)
Provision for credit losses(419,230)(374,559)(423,406)
Losses on claims for accident protection plan(36,276)(34,525)(34,504)
Inventory acquired in repossession and accident protection plan claims(120,636)(114,538)(131,037)
     Balance at end of period$1,078,589 $1,180,010 $1,097,931 
Summary of Finance Receivables, Allowance for Credit Losses
Changes in the finance receivables allowance for credit losses for the years ended April 30, 2026, 2025 and 2024 are as follows:
Years Ended April 30,
(In thousands)202620252024
Balance at beginning of period$323,100 $331,260 $299,608 
Provision for credit losses419,230 374,559 423,406 
Charge-offs(534,561)(499,887)(525,634)
Recovered collateral122,132 117,168 133,880 
     Balance at end of period$329,901 $323,100 $331,260 
Summary of Finance Receivables, Current and Past Due
The following table presents the finance receivables that are current and past due as follows:
(Dollars in thousands)April 30, 2026April 30, 2025
Principal BalancePercent of PortfolioPrincipal BalancePercent of Portfolio
Current $1,090,757 77.19%$1,208,330 80.06%
 3 - 29 days past due264,121 18.69%249,263 16.52%
30 - 60 days past due39,541 2.80%34,407 2.28%
61 - 90 days past due11,676 0.83%11,461 0.76%
    > 90 days past due6,964 0.49%5,694 0.38%
          Total $1,413,059 100.00%$1,509,155 100.00%
Summary of Finance Receivables, Credit Quality Indicators
Years ended,
April 30,
20262025
Average total collected per active customer per month$591 $575 
Principal collected as a percent of average finance receivables31.9%31.8%
Average down-payment percentage5.1%5.5%
Average originating contract term (in months)45.144.4
As of April 30,
20262025
Portfolio weighted average contract term, including modifications (in months)49.048.3
Summary of Finance Receivables, Year of Origination and Customer Score
The following table presents a summary of finance receivables by credit quality indicator, as of April 30, 2026, segregated by customer score and year of origination.
As of April 30, 2026
(Dollars in thousands)Customer Score by Fiscal Year of OriginationPrior to
Customer Rating202620252024202320222022Total%
1-2$81,189 $14,093 $3,349 $1,210 $143 $10 $99,994 7.1%
3-4189,904 120,255 48,506 11,118 1,806 353 371,942 26.3%
5-7458,844 286,935 133,766 49,532 11,001 1,045 941,123 66.6%
Total$729,937 $421,283 $185,621 $61,860 $12,950 $1,408 $1,413,059 100.0%
Charge-offs$119,519 $249,473 $114,246 $40,960 $9,243 $1,120 $534,561 
The following table presents a summary of finance receivables by credit quality indicator, as of April 30, 2025, segregated by customer score and year of origination.
As of April 30, 2025
(Dollars in thousands)Customer Score by Fiscal Year of OriginationPrior to
Customer Rating202520242023202220212021Total%
1-2$46,422 $13,367 $4,584 $743 $45 $45 $65,206 4.3%
3-4284,265 131,084 44,141 9,241 826 219 469,776 31.1%
5-7509,740 277,865 138,342 42,843 4,856 527 974,173 64.6%
Total$840,427 $422,316 $187,067 $52,827 $5,727 $791 $1,509,155 100.0%
Charge-offs$120,995 $237,829 $109,105 $28,518 $2,842 $598 $499,887 
Summary of Contract Modifications
The following table presents contract modifications by type of modification at April 30, 2026, 2025 and 2024:

Contract Modifications by Type
(Dollars in thousands)April 30, 2026April 30, 2025April 30, 2024 (Restated)
Type of ModificationPrincipal Balance% of PortfolioPrincipal Balance% of PortfolioPrincipal Balance% of Portfolio
Term extension$416,389 29.5%$425,791 28.2%$462,992 32.2%
Combination(1)
10,633 0.8%10,350 0.7%10,929 0.8%
Total$427,022 30.3%$436,141 28.9%$473,921 33.0%

(1)These modifications result from customer bankruptcy filings and have been made in accordance with bankruptcy court requirements. They generally consist of a reduction in the contractual interest rate and/or an extension of the contract term as part of the customer’s court-approved payment restructuring plan.

The following table describes the financial effect of the modifications for each fiscal year:

Type of ModificationFiscal Year 2026Fiscal Year 2025Fiscal Year 2024 (Restated)
Term extensionAdded a weighted average of 1.9 months to the life of contracts, which reduced monthly payment amounts to borrowers.Added a weighted average of 2.2 months to the life of contracts, which reduced monthly payment amounts to borrowers.Added a weighted average of 2.3 months to the life of contracts, which reduced monthly payment amounts to borrowers.
CombinationAdded a weighted average of 21.3 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 7.76%.Added a weighted average of 21.5 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 9.16%.Added a weighted average of 18.6 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 8.81%.
The Company closely monitors the performance of the contracts that are modified to understand the effectiveness of its modification efforts. The following table depicts the status of contracts that have term modifications in the applicable fiscal year:

Payment Status (Principal Balance)
(In thousands)TotalCurrent3-29 Days Past Due30-60 Days Past Due61-90 Days Past Due90+ Days Past Due
For Fiscal Year 2026$416,389 $297,413 $98,286 $16,302 $3,694 $694 
For Fiscal Year 2025425,791 304,859 100,554 14,149 3,900 2,329 
For Fiscal Year 2024 (Restated)462,992 326,937 117,390 13,890 2,724 2,051 
The following table depicts the status of contracts that have term modifications due to the combination of modifications due to bankruptcies for the periods presented:
Payment Status (Principal Balance)
(In thousands)TotalPayment Received in Last 30 DaysPayment Received in Last 31-60 DaysPayment Received in Last 61-90 DaysPayment Received in Last 90+ Days
For Fiscal Year 2026$10,633 $5,107 $1,342 $741 $3,443 
For Fiscal Year 202510,350 5,864 1,596 843 2,047 
For Fiscal Year 2024 (Restated)10,929 5,528 1,808 1,366 2,227