CRMT revenue fell 57% and retail units dropped 82% YoY, net loss $69 million
CRMT said revenue fell 57% and retail units sold fell 82% year-over-year due to capital constraints and inventory reductions, resulting in a $69 million net loss. The company flagged liquidity and capital-structure risks and said it has an ongoing strategic review and covenant relief from lenders.
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07:28:36 PM UTC
SquawkNews
Net loss widened to $69.0 million as revenues fell 57% year-over-year, driven by an 82% drop in retail units sold and ongoing liquidity constraints. Substantial doubt remains about the ability to continue as a going concern, with no new financing secured and capital limitations expected to persist…
Revenue declined 57% year over year and retail units sold fell 82%, reflecting capital constraints and inventory reductions. The period ended with a $69 million net loss. Liquidity and capital structure remain key risks, and the company is continuing its strategic review while obtaining covenant relief from lenders.