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Finance Receivables, Net (Tables)
 6 Months Ended
Oct. 31, 2025
Receivables [Abstract]  
Summary of Components of Finance Receivables
The components of finance receivables are as follows:
(In thousands)October 31, 2025April 30, 2025
 
Gross contract amount$1,951,099 $1,946,042 
Less: unearned finance charges(435,686)(436,887)
Principal balance1,515,413 1,509,155 
Less: estimated insurance receivables for accident protection plan claims(2,488)(2,910)
Less: allowance for accident protection plan claims(2,721)(3,135)
Less: allowance for credit losses(338,827)(323,100)
Finance receivables, net1,171,377 1,180,010 
Loan origination costs648 663 
Finance receivables, net, including loan origination costs$1,172,025 $1,180,673 
Summary of Changes in Finance Receivables
Changes in the finance receivables, net are as follows:
 Six Months Ended October 31,
(In thousands)20252024
   
Balance at beginning of period$1,180,673 $1,097,931 
Finance receivable originations528,728 527,487 
Finance receivable collections(236,576)(224,640)
Provision for credit losses(222,109)(194,945)
Losses on claims for accident protection plan(18,466)(16,797)
Inventory acquired in repossession and accident protection plan claims(60,873)(57,071)
   
Balance at end of period$1,171,377 $1,131,965 
Summary of Finance Receivables, Allowance for Credit Losses
Changes in the finance receivables allowance for credit losses are as follows:
 Six Months Ended October 31,
(In thousands)20252024
   
Balance at beginning of period$323,100 $331,260 
Provision for credit losses222,109 194,945 
Charge-offs(269,427)(250,057)
Recovered collateral63,045 60,545 
   
Balance at end of period$338,827 $336,693 
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)October 31, 2025April 30, 2025October 31, 2024
 Principal
Balance		Percent of
Portfolio		Principal
Balance		Percent of
Portfolio		Principal
Balance		Percent of
Portfolio
Current$1,270,535 83.84%$1,208,330 80.06%$1,188,852 80.66 %
3 - 29 days past due197,294 13.02%249,263 16.52%233,486 15.84%
30 - 60 days past due32,257 2.13%34,407 2.28%35,039 2.38%
61 - 90 days past due8,802 0.58%11,461 0.76%10,083 0.68%
> 90 days past due6,525 0.43%5,694 0.38%6,334 0.43%
Total$1,515,413 100.00%$1,509,155 100.00%$1,473,794 100.00%
Summary of Finance Receivables, Credit Quality Indicators
Six Months Ended October 31,
20252024
Average total collected per active customer per month$582 $561 
Principal collected as a percent of average finance receivables15.6%15.4%
Average down-payment percentage4.8%5.2%
Average originating contract term (in months)
44.644.3
As of
October 31, 2025October 31, 2024
Portfolio weighted average contract term, including modifications (in months)
48.548.2
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 October 31, 2025, segregated by customer score and year of origination.
 As of October 31, 2025
(Dollars in thousands)Fiscal Year of OriginationPrior to  
Customer Rating202620252024202320222022Total%
1-2$56,403 $22,175 $11,062 $2,597 $376 $46 $92,659 6.1%
3-4130,404 158,907 84,553 23,313 4,029 589 401,795 26.5%
5-7295,851 423,482 191,213 85,607 22,276 2,530 1,020,959 67.4%
Total$482,658 $604,564 $286,828 $111,517 $26,681 $3,165 $1,515,413 100.0 %
         
Charge-offs$24,310 $140,956 $70,014 $27,109 $6,404 $634 $269,427  
The following table presents a summary of finance receivables by credit quality indicator, as of October 31, 2024, segregated by customer score.
 As of October 31, 2024
(Dollars in thousands)Fiscal Year of OriginationPrior to
Customer Rating202520242023202220212021Total%
1-2$30,975 $27,649 $8,152 $1,805 $133 $54 $68,768 4.7%
3-4171,128 206,403 75,913 19,301 1,836 313 474,894 32.2%
5-6269,257 369,298 206,893 73,766 9,949 969 930,132 63.1%
Total$471,360 $603,350 $290,958 $94,872 $11,918 $1,336 $1,473,794 100.0 %
Charge-offs$24,742 $137,604 $66,999 $18,381 $1,993 $338 $250,057 

The percentage of the portfolio in the highest customer ratings (5-7) continues to grow as a result of the Company’s early risk based pricing testing as well as the conversion to the new, more predictive, scorecard.
Summary of Contract Modifications
The following table presents contract modifications by type of modification for the following:

(Dollars in thousands)Contract Modifications by Type
Three Months Ended
October 31, 2025
Three Months Ended
October 31,2024
(Restated)
Type of ModificationPrincipal Balance% of PortfolioPrincipal Balance% of Portfolio
Term extension$196,358 13.0 %$196,894 13.4 %
Combination (1)
3,550 0.2 %3,828 0.2 %
Total$199,908 13.2 %$200,722 13.6 %


(Dollars in thousands)Contract Modifications by Type
Six Months Ended
October 31, 2025
Six Months Ended
October 31,2024
(Restated)
Type of ModificationPrincipal Balance% of PortfolioPrincipal Balance% of Portfolio
Term extension$296,522 19.6 %$305,028 20.7 %
Combination (1)
6,362 0.4 %6,491 0.4 %
Total$302,884 20.0 %$311,519 21.1 %
(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 period:

Type of ModificationThree Months Ended October 31, 2025
Three Months Ended October 31, 2024 (Restated)
Six Months Ended October 31, 2025
Six Months Ended October 31, 2024 (Restated)
Term extension
Added a weighted average of 1.4 months to the life of contracts, which reduced monthly payment amounts to borrowers.
Added a weighted average of 1.5 months to the life of contracts, which reduced monthly payment amounts to borrowers.
Added a weighted average of 1.6 months to the life of contracts, which reduced monthly payment amounts to borrowers.
Added a weighted average of 1.8 months to the life of contracts, which reduced monthly payment amounts to borrowers.
Combination
Added a weighted average of 7.3 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 8.74%.
Added a weighted average of 8.3 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 7.75%.
Added a weighted average of 8.1 months to the life of contracts, which reduced monthly payment amounts to borrowers and/or reduced interest rates to a weighted average of 8.56%.
Added a weighted average of 8.7 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%.

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 as follows:

Payment Status (Principal Balance)
(In thousands)TotalCurrent
3-29 Days Past Due
30-60 Days Past Due
61-90 Days Past Due
90+ Days Past Due
For Three Months Ended October 31, 2025$196,358 $151,449 $39,521 $5,036 $352 $- 
For Three Months Ended October 31, 2024 (Restated)196,894 145,117 45,455 5,923 399 - 
For Six Months Ended October 31, 2025296,522 220,652 62,916 10,228 2,441 285 
For Six Months Ended October 31, 2024 (Restated)305,028 214,383 74,599 12,372 2,864 810 

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 Three Months Ended October 31, 2025$3,550 $974 $856 $728 $992 
For Three Months Ended October 31, 2024 (Restated)3,828 1,066 818 1,055 889 
For Six Months Ended October 31, 20256,362 1,040 850 1,020 3,452 
For Six Months Ended October 31, 2024 (Restated)6,491 1,254 1,042 1,016 3,179