Old Market Capital (OMCC) 10-Q13 Feb 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 31, 2023	Feb. 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-31
Entity Registrant Name	NICHOLAS FINANCIAL, INC.
Entity Central Index Key	0001000045
Entity File Number	0-26680
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	59-2506879
Entity Address, Address Line One	26133 US Highway 19 North
Entity Address, Address Line Two	STE 300
Entity Address, City or Town	Clearwater
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33759
City Area Code	727
Local Phone Number	726-0763
Title of 12(b) Security	Common Stock
Trading Symbol	NICK
Security Exchange Name	NASDAQ
Entity Common Stock Shares Outstanding		12,700,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Assets
Cash and cash equivalents	$ 7,817	$ 454
Finance receivables held for sale, at a lower of amortized cost or fair value	50,306	0
Finance receivables, net of unearned discounts and fees and accrued interest receivable	0	124,315
Less: Allowance for credit losses	0	(17,396)
Finance receivables, net	0	106,919
Repossessed assets held for sale, at a lower of carrying value or fair value less cost to sell	395	1,491
Prepaid expenses and other assets	390	316
Income taxes receivable	915	946
Property and equipment, net	168	222
Total assets	59,991	110,348
Liabilities and shareholders’ equity
Line of credit, net of debt issuance costs	0	28,936
Accounts payable, accrued expenses, and other liabilities	938	1,603
Total liabilities	938	30,539
Commitments and contingencies (see Note 9)
Shareholders’ equity
Preferred stock, no par: 5,000 shares authorized; none issued	0	0
Common stock, no par: 50,000 shares authorized; 12,658 shares issued, 7,289 shares outstanding as of December 31, 2023 and March 31, 2023	35,267	35,223
Treasury stock: 5,369 common shares, at cost	(76,794)	(76,794)
Retained earnings	100,580	121,380
Total shareholders’ equity	59,053	79,809
Total liabilities and shareholders’ equity	$ 59,991	$ 110,348

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	12,658,000	12,658,000
Common stock, shares outstanding	7,289,000	7,289,000
Treasury Stock, Common, Shares	5,368,000	5,368,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Interest and fee income on finance receivables	$ 4,954	$ 11,268	$ 18,367	$ 35,580
Expenses:
Marketing	22	177	88	1,086
Administrative	3,906	9,398	12,328	25,066
Provision for credit losses	(10,482)	10,730	2,570	23,280
Fair value and other adjustments, net	23,110	0	23,110	0
Depreciation and amortization of intangibles	22	97	66	339
Interest expense	68	1,239	826	2,782
Total expenses	16,646	21,641	38,988	52,553
Income from securities:
Net gain on equity investments	0	0	0	66
Income from cash equivalents	31	0	31	0
Total income from securities	31	0	31	66
Loss before income taxes	(11,661)	(10,373)	(20,590)	(16,907)
Income tax expense (benefit)	0	3,000	0	1,415
Net loss	$ (11,661)	$ (13,373)	$ (20,590)	$ (18,322)
Earnings (Loss) earnings per share:
Basic	$ (1.6)	$ (1.85)	$ (2.83)	$ (2.49)
Diluted	$ (1.6)	$ (1.85)	$ (2.83)	$ (2.49)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Retained Earnings
Balance at Mar. 31, 2022	$ 116,386	$ 35,292	$ (74,405)	$ 155,499
Balance (in shares) at Mar. 31, 2022		7,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cancellation of restricted stock awards	(175)	$ (175)
Cancellation of restricted stock awards (in shares)		(26)
Issuance of restricted stock awards, Shares		11
Share-based compensation	80	$ 80
Treasury stock	(2,389)		(2,389)
Treasury stock (in shares)		(241)
Net income (loss)	(18,322)			(18,322)
Balance at Dec. 31, 2022	95,580	$ 35,197	(76,794)	137,177
Balance (in shares) at Dec. 31, 2022		7,290
Balance at Sep. 30, 2022	109,038	$ 35,172	(76,684)	150,550
Balance (in shares) at Sep. 30, 2022		7,309
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	0
Issuance of restricted stock awards, Shares		0
Share-based compensation	25	$ 25
Treasury stock	(110)		(110)
Treasury stock (in shares)		(19)
Net income (loss)	(13,373)			(13,373)
Balance at Dec. 31, 2022	95,580	$ 35,197	(76,794)	137,177
Balance (in shares) at Dec. 31, 2022		7,290
Balance at Mar. 31, 2023	79,809	$ 35,223	(76,794)	121,380
Balance (in shares) at Mar. 31, 2023		7,289
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU 2016-13, net of tax	(210)			(210)
Share-based compensation	44	$ 44
Net income (loss)	(20,590)			(20,590)
Balance at Dec. 31, 2023	59,053	$ 35,267	(76,794)	100,580
Balance (in shares) at Dec. 31, 2023		7,289
Balance at Sep. 30, 2023	70,713	$ 35,266	(76,794)	112,241
Balance (in shares) at Sep. 30, 2023		7,289
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	1	$ 1
Net income (loss)	(11,661)			(11,661)
Balance at Dec. 31, 2023	$ 59,053	$ 35,267	$ (76,794)	$ 100,580
Balance (in shares) at Dec. 31, 2023		7,289

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ (20,590)	$ (18,322)
Adjustments to reconcile net income (loss) to net cash provided (used in) by operating activities:
Depreciation and amortization of intangibles	66	339
Amortization of debt issuance costs	70	124
Non-cash lease expense	36	1,427
Net loss (gain) on disposal of property and equipment	10	650
Net gain on equity investments	0	(66)
Fair value and other adjustments, net	23,110	0
Provision for credit losses	2,570	23,280
Amortization of dealer discounts	(2,660)	(4,632)
Amortization of insurance and fees commissions	(1,802)	(2,395)
Accretion of purchase price discount	(54)	(119)
Deferred income taxes	0	1,385
Cancellations of restricted stock awards	0	(175)
Principal reduction on operating lease liabilities	(37)
Share-based compensation	44	80
Changes in operating assets and liabilities:
Accrued interest receivable	895	(588)
Prepaid expenses and other assets	(27)	(100)
Accounts payable, accrued expenses, and other liabilities	(627)	(2,453)
Income taxes receivable	31	44
Net cash provided by (used in) operating activities	1,035	(1,521)
Cash flows from investing activities
Purchase and origination of finance receivables	(5,515)	(61,769)
Principal payments received and proceeds from repossessed assets held for sale	40,955	75,309
Purchase of equity investments	0	(7,237)
Proceeds from sale of equity investments		7,303
Payments for property and equipment	(13)	0
Net cash provided by (used in) investing activities	35,427	13,606
Cash flows from financing activities
Repayments on credit facilities	(29,100)	(27,800)
Proceeds from credit facilities	0	17,800
Payment of loan originations fees	0	(313)
Repayment of PPP Loan	0	(3,244)
Repurchases of treasury stock	0	(2,389)
Net cash (used in) provided by financing activities	(29,100)	(15,946)
Net increase (decrease) in cash and cash equivalent	7,362	(3,861)
Cash and cash equivalents, at the beginning of period	454	4,775
Cash and cash equivalents, at the end of period	7,817	914
Supplemental disclosures, including noncash activities:
Interest paid	975	2,532
Income taxes paid	0	24
Transfer of finance receivables to repossessed assets	$ 14,034	$ 6,446

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Nicholas Financial, Inc. (“Nicholas Financial – Canada”) is a Canadian holding company incorporated under the laws of British Columbia with several wholly-owned United States subsidiaries, including Nicholas Financial, Inc., a Florida corporation (“NFI”). The accompanying condensed consolidated balance sheet as of December 31, 2023, and the accompanying unaudited interim condensed consolidated financial statements of Nicholas Financial – Canada, and its wholly-owned subsidiaries (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information, with the instructions to Form 10-Q pursuant to the Securities Exchange Act of 1934, as amended, and with Article 8 of Regulation S-X thereunder. Accordingly, they do not include all of the information and notes to the consolidated financial statements required by U.S. GAAP for complete consolidated financial statements, although the Company believes that the disclosures made are adequate to ensure the information is not misleading. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for interim periods are not necessarily indicative of the results that may be expected for the year ending March 31, 2024. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 as filed with the Securities and Exchange Commission on June 27, 2023. The March 31, 2023 consolidated balance sheet included herein has been derived from the March 31, 2023 audited consolidated balance sheet included in the aforementioned Form 10-K. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on finance receivables. As previously disclosed in the Company’s Registration Statement on Form S-4 filed with the U.S. Securities and Exchange Commission on November 22, 2023, as amended on January 10, 2024 and January 29, 2024, the Company is seeking shareholder approval for the sale of all or substantially all of the Company's undertaking, consisting of automobile finance installment contracts, pursuant to the terms of a Master Asset Purchase Agreement dated as of November 13, 2023 between the Company and Westlake Services, LLC dba Westlake Financial, a California limited liability company (the “Loan Portfolio Sale”). The Company is pursuing the Loan Portfolio Sale for a number of reasons consistent with its previously disclosed evolving restructuring plan. Management believes the Loan Portfolio Sale will free up capital and permit the Company to allocate excess capital and utilize net operating losses to increase shareholder returns, whether by acquiring businesses or by investing outside of the Company's traditional business. Assuming closing of the Loan Portfolio Sale, the Board of Directors intends to explore strategic alternatives for the use of the net proceeds from the sale and seek to maximize the value of deferred tax assets, including net operating losses, available to the Company. The Company adopted ASU 2016-13 on April 1, 2023 (see Note 2), and consequently utilized the current expected credit losses model through October 31, 2023, by applying a discounted cash flow methodology to its financial assets, measured at amortized cost over the life of the financial assets. On November 1, 2023, concurrent with the decision to sell the portfolio, the Company reclassified its finance receivables to held for sale, which are carried at the lower of amortized cost or fair value. As a result of this reclassification, the Company eliminated the allowance for credit losses under Accounting Standards Codification (ASC) 326 which resulted in a reversal of previously recorded provisions for credit losses for the three and nine months ended December 31, 2023. The Company compared the fair value and amortized cost of finance receivables held for sale and recorded a held for sale valuation allowance through earnings to reduce the amortized cost basis to fair value as of December 31, 2023. The Company estimates the fair value of these loans held for sale utilizing a discounted cash flow approach which includes an evaluation of the collateral and underlying loan characteristics, as well as assumptions to determine the discount rate such as credit loss and prepayment forecasts, and servicing costs. In determining the appropriate discount rate, prepayment and credit assumptions, the Company monitors other capital markets activity for similar collateral being traded and/or interest rates currently being offered for similar products. The Company management also reviews the key assumptions used in arriving at the final estimates related to the fair value of these loans held for sale. Significant increases or decreases in any of those assumptions in isolation could result in a significantly lower (higher) fair value measurement. Reclassifications In certain instances, amounts reported in the prior year financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported net income (loss)

Accounting Standards Recently A

Accounting Standards Recently Adopted or Applied	9 Months Ended
Accounting Standards Recently Adopted or Applied	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Recently Adopted or Applied	Note 2. Accounting Standards Recently Adopted or Applied Cash Equivalents Short-term highly liquid investments with a maturity date that was 3 months or less at the time of purchase are treated as cash equivalents. Amounts earned from cash equivalents are presented separately in the unaudited Condensed Consolidated Statements of Income (Loss). Allowance for Credit Losses (ACL) In June 2016, the Financial Accounting Standard Board (FASB) issued the Accounting Standards Update (ASU) 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The ASU also requires additional disclosures related to estimates and judgments used to measure all expected credit losses. The Company adopted this standard effective April 1, 2023. The initial impact of adoption was a $ 0.2 million decrease to retained earnings ($ 0.2 million increase to the allowance for credit losses (ACL)). As of April 1, 2023, there is a full valuation allowance recorded against the deferred tax assets (DTA). Therefore, a net increase of $ 0.1 million recorded to the DTA was offset by an increase of the same amount to the valuation allowance. The ACL reflects the difference between the amortized cost basis and the present value of the expected cash flows. In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures , which removes the accounting guidance for troubled debt restructurings and requires entities to evaluate whether a modification provided to a customer results in a new loan or continuation of an existing loan. The amendments enhance existing disclosures and require new disclosures for receivables when there has been a modification in contractual cash flows due to a customer experiencing financial difficulties. Additionally, the amendments require public business entities to disclose gross charge-off information by year of origination in the vintage disclosures. This ASU became effective for us on April 1, 2023. We adopted this guidance in the first quarter of fiscal 2024 using the modified retrospective method. Adoption of this standard did not have a material impact on the Company's unaudited Condensed Consolidated Financial Statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements. Finance Receivables Held for Sale Finance Receivables are reclassified to held for sale at the point the criteria for changing classification is met (when the Company decides to sell finance receivables that were originally classified as held for investment). The previously recorded allowance for credit losses, under Topic 326, associated with the reclassified finance receivables (after applying the write off policy) is released and an offsetting entry recorded to the provision for credit losses. This has had the effect of reversing the pre-transfer held for investment allowance for credit losses through the provision. Finance receivables held for sale are carried at the lower of amortized cost bosis or fair value which generally established a new held for sale valuation allowance through earnings in the same reporting period. Changes in the held for sale valuation allowance are recorded through earnings along with charge offs and recoveries as "Fair value and other adjustments net" in the unaudited Condensed Consolidated Statements of Income (Loss).

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 3. Earnings Per Share The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. Earnings per share is calculated using the two-class method, as such awards are more dilutive under this method than the treasury stock method. Basic earnings per share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. The Company's participating securities are non-vested restricted shares which are not required to share losses, and accordingly, are not allocated losses in periods of net loss. Diluted earnings per share include the dilutive effect of additional potential common shares from stock compensation awards. For the three and nine months ended December 31, 2023, potentially dilutive securities that were not included in the diluted per share calculation because they would be anti-dilutive comprise 10 thousand shares from options to purchase common shares. For the three and nine months ended December 31, 2022, potentially dilutive securities that were not included in the diluted per share calculation because they would be anti-dilutive comprise 10 thousand shares from options to purchase common shares. Earnings per share is computed based on the following weighted average number of common shares outstanding: Three months ended Nine months ended 2023 2022 2023 2022 Numerator Net loss per consolidated statements of income $ ( 11,661 ) $ ( 13,373 ) $ ( 20,590 ) $ ( 18,322 ) Percentage allocated to shareholders * 100.0 % 100.0 % 100.0 % 100.0 % Numerator for basic and diluted earnings per share $ ( 11,661 ) $ ( 13,373 ) $ ( 20,590 ) $ ( 18,322 ) Denominator Denominator for basic earnings per share - weighted-average shares outstanding 7,286 7,219 7,285 7,349 Dilutive effect of stock options — — — — Denominator for diluted earnings per share 7,286 7,219 7,285 7,349 Per share loss from continuing operations Basic $ ( 1.60 ) $ ( 1.85 ) $ ( 2.83 ) $ ( 2.49 ) Diluted ( 1.60 ) ( 1.85 ) ( 2.83 ) ( 2.49 ) * Basic weighted-average shares outstanding 7,286 7,219 7,285 7,349 Basic weighted-average shares outstanding and unvested restricted stock units expected to vest 7,287 7,219 7,285 7,349 Percentage allocated to shareholders 100.0 % 100.0 % 100.0 % 100.0 %

Finance Receivables

Finance Receivables	9 Months Ended
Finance Receivables	Dec. 31, 2023
Receivables [Abstract]
Finance Receivables	Note 4. Finance Receivables Finance receivables held for investment, net consist of Contracts and Direct Loans and are detailed as follows: (In thousands) December 31, March 31, Finance receivables held for investment $ — $ 128,170 Accrued interest receivable — 1,932 Unearned dealer discounts — ( 4,286 ) Unearned insurance commissions and fees — ( 1,419 ) Unearned purchase price discount — ( 82 ) Finance receivables held for investment, net of unearned discounts and fees and accrued interest receivable — 124,315 Allowance for credit losses — ( 17,396 ) Finance receivables held for investment, net $ — $ 106,919 Finance receivables held for sale consist of Contracts and Direct Loans and are detailed as follows: (In thousands) December 31, March 31, 2023 2023 Finance receivables held for sale at amortized cost $ 69,763 - Held for sale allowance ( 19,457 ) - Finance receivables held for sale at fair value $ 50,306 $ - Contracts and Direct Loans each comprise a portfolio segment which consists of groups of loans sharing common risk factors. The following tables present selected information on the entire portfolio of the Company: As of December 31, As of March 31, Contract Portfolio 2023 2023 Average APR 22.7 % 22.8 % Average discount 6.4 % 6.8 % Average term (months) 49 49 Number of active contracts 9,088 14,081 As of December 31, As of March 31, Direct Loan Portfolio 2023 2023 Average APR 27.3 % 29.1 % Average term (months) 33 28 Number of active contracts 2,485 5,322 Allowance for Credit Losses (ACL) and Held for Sale Allowance The Company adopted ASU 2016-13 on April 1, 2023, and consequently utilized the current expected credit losses model through October 31, 2023, by applying a Discounted Cash Flow (DCF) methodology to its financial assets, measured at amortized cost, over the life of those financial assets. Beginning on November 1, 2023, the Company is carrying its loan portfolio at the lower of amortized cost or fair value. For the period from April 1, 2023 through October 31, 2023, the ACL reflects the difference between the amortized cost basis and the present value of the expected cash flows of finance receivables. Provisions for credit losses were recorded in amounts sufficient to maintain an ACL at an adequate level to provide for estimated losses over the lives of the finance receivables. Portfolio segments are comprised of homogeneous loans sharing common risk factors. Accordingly, loans are not individually evaluated for collectability. Consistent with the application during prior reporting years, the Company continued charging credit losses against the allowance when the account reached 120 days contractually delinquent and any recoveries on finance receivables previously charged to the ACL were credited to the ACL when collected. The Company used a DCF model to forecast expected credit losses. Historical information about losses generally provided a basis for the estimate of expected credit losses. The Company has utilized its own historical data as well as its peer group companies' data from FFIEC Call Report filings. This data was used to produce regression analyses designed to quantify the impact of reasonable and supportable forecasts in projective models. The Company also considered the need to adjust historical information to reflect the extent to which conditions differed from the conditions that existed for the period over which historical information was evaluated. These adjustments to historical loss information may be qualitative or quantitative in nature. The Company considered changes in international, national, regional and local conditions, changes in the volume and severity of past due loans, portfolio bankruptcy trends, maturity terms extensions, changes in the value of underlying collateral for collateral dependent loans, the effect of other external factors, such as competition, legal and regulatory requirements on the level of estimated credit losses, the existence and effect of any concentrations of credit and changes in the levels of such concentrations, changes in the nature and volume of the portfolio and terms of loans, changes in the quality of the loan review system, changes in the experience, depth, and ability of lending management, and reasonable and supportable economic forecasts, which covered the lives of the finance receivables. The Company discounted expected cash flows at the financial asset’s effective interest rate. The effective interest rate is defined in ASC 326 as the contractual interest rate adjusted for any net deferred fees or costs, premium, or discount existing at the origination or acquisition of the financial assets. For the Company, this was calculated using adjusted contractual cash flows relative to the amortized cost. The Company also considered prepayment and curtailment effects in calculation of its effective interest rate. According to ASC 326-20-30-9, estimating expected credit losses is highly judgmental and requires management to produce reasonable and supportable forecasts of expected credit losses. The Company elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each considered economic factor as permitted in ASC 326-20-30-9. Based on the final values in the forecast and the uncertainty of a post-pandemic recovery, management elected to revert over four quarters. The Company also used information provided by the Federal Open Market Committee (FOMC) to obtain various forecasts for unemployment rate and gross domestic product, as well as other economic factors that were considered as part of its ACL calculations. The Company elected not to measure an allowance on accrued interest which is included as a component of amortized cost and limited to performing accounts, defined as an account that is less than 61 days past due. Accrual of interest income on finance receivables is suspended when a loan was contractually delinquent for 61 days or more, or the collateral is repossessed, whichever is earlier. Consistent with the application in the prior reporting periods, the Company continued timely reversing of the accrual of interest income when the loan was contractually delinquent 61 days or more. All of these accounts were accounted for in the calculation for allowance for credit losses. The Company defines a non-performing asset as one that is 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy account that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a Chapter 13 bankruptcy account, the account is immediately charged-off. Upon notification of a Chapter 7 bankruptcy, an account is monitored for collectability. In the event the debtors’ balance is reduced by the bankruptcy court, the Company records a loss equal to the amount of principal balance reduction. The remaining balance is reduced as payments are received. In the event an account is dismissed from bankruptcy, the Company will decide whether to begin repossession proceedings or to allow the customer to make regularly scheduled payments. Prior to adoption of ASU 2016-13 the Company was periodically evaluating the composition of the portfolio, current economic conditions, the estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts when determining management’s estimate of probable credit losses and the adequacy of the allowance for credit losses. Management utilized significant judgment in determining probable incurred losses and in identifying and evaluating qualitative factors. This approach aligned with the Company’s lending policies and underwriting standards. If the allowance for credit losses is determined to be inadequate, then an additional charge to the provision is recorded to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio. The Company used a trailing twelve-month net charge-off as a percentage of average finance receivables, and applied this percentage to ending finance receivables to estimate probable credit losses. This approach reflected the current trends of incurred losses within the portfolio and closely aligns the allowance for credit losses with the portfolio’s performance indicators. Estimating the allowance for credit losses using the trailing twelve-month charge-off analysis reflected portfolio performance adjusted for seasonality. Management evaluated qualitative factors to support its allowance for credit losses. The Company examined the impact of macro-economic factors, such as year-over-year inflation, as well as portfolio performance characteristics, such as changes in the value of underlying collateral, level of nonperforming accounts, delinquency trends, and accounts with extended terms. As of November 1, 2023, concurrent with the decision to sell the portfolio, the Company reclassified its finance receivables to held for sale, which are carried at the lower of amortized cost or fair value. As a result of this reclassification, the Company eliminated the allowance for credit losses established under ASC 326 which resulted in a reversal of previously recorded provisions for credit losses for the period from April 1, 2023 through October 31, 2023. The Company compared the fair value and amortized cost of finance receivables held for sale and recorded a held for sale valuation allowance of $ 19.5 million through earnings to reduce the amortized cost basis to fair value as of December 31, 2023. The following table sets forth a reconciliation of the changes in the allowance for credit losses under ASC 326 on Contracts and Direct Loans for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, 2023 Nine months ended December 31, 2023 Contracts Direct Loans Total Contracts Direct Loans Consolidated Balance at beginning of period, prior to adoption of ASU 2016-13 $ 12,189 $ 1,068 $ 13,257 $ 16,265 $ 1,131 $ 17,396 Impact of adoption of ASU 2016-13 — — — ( 562 ) 772 210 Provision for credit losses (1) 1,588 183 1,771 12,713 2,110 14,823 Charge-offs ( 3,041 ) ( 369 ) ( 3,410 ) ( 21,337 ) ( 3,495 ) ( 24,832 ) Recoveries 553 82 635 4,210 446 4,656 Reversal of allowance for credit losses (2) ( 11,289 ) ( 964 ) ( 12,253 ) ( 11,289 ) ( 964 ) ( 12,253 ) Balance at December 31, 2023 $ — $ — $ — $ — $ — $ — Three months ended December 31, 2022 Nine months ended December 31, 2022 Contracts Direct Loans Total Contracts Direct Loans Consolidated Balance at beginning of period $ 5,088 $ 2,003 $ 7,091 $ 1,960 $ 989 $ 2,949 Provision for credit losses 9,132 1,598 10,730 19,747 3,533 23,280 Charge-offs ( 7,077 ) ( 1,056 ) ( 8,133 ) ( 17,266 ) ( 2,050 ) ( 19,316 ) Recoveries 1,240 24 1,264 3,942 97 4,039 Balance at December 31, 2022 $ 8,383 $ 2,569 $ 10,952 $ 8,383 $ 2,569 $ 10,952 (1) Provision for credit losses and reversal of allowance for credit losses is presented net as "Provision for credit losses" in the Condensed Consolidated Statements of Income (Loss). (2) Amounts shown represents charge-off through October 31, 2023. Since November 1, 2023 charge-offs are included in "Fair value and other adjustment, net" in the Condensed Consolidated Statements of Income (Loss). The following table presents gross charge-offs and recoveries by receivable origination year for total portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 88 $ — $ 88 2023 1,256 138 1,118 2022 1,294 216 1,078 2021 363 109 254 2020 215 42 173 Prior 194 130 64 Total $ 3,410 $ 635 $ 2,775 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 113 $ — $ 113 2023 10,061 1,122 8,939 2022 9,448 1,496 7,952 2021 2,776 547 2,229 2020 1,209 506 703 Prior 1,225 985 240 Total $ 24,832 $ 4,656 $ 20,176 The following table presents gross charge-offs and recoveries by receivable origination year for Contract segment of portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 88 $ — $ 88 2023 1,072 100 972 2022 1,124 185 939 2021 350 102 248 2020 214 38 176 Prior 193 128 65 Total $ 3,041 $ 553 $ 2,488 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 113 $ — $ 113 2023 7,950 907 7,043 2022 8,127 1,320 6,807 2021 2,722 521 2,201 2020 1,201 489 712 Prior 1,224 973 251 Total $ 21,337 $ 4,210 $ 17,127 The following table presents gross charge-offs and recoveries by receivable origination year for Direct segment of portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ — $ — $ — 2023 184 38 146 2022 170 31 139 2021 13 7 6 2020 1 4 ( 3 ) Prior 1 2 ( 1 ) Total $ 369 $ 82 $ 287 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ — $ — $ — 2023 2,111 215 1,896 2022 1,321 176 1,145 2021 54 26 28 2020 8 17 ( 9 ) Prior 1 12 ( 11 ) Total $ 3,495 $ 446 $ 3,049 The following table is an assessment of the credit quality by creditworthiness for finance receivables held for investment: (In thousands) December 31, 2023 March 31, 2023 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ — $ — $ — $ 101,856 $ 16,926 $ 118,782 Non-performing accounts — — — 6,972 1,728 8,700 Total — — — 108,828 18,654 127,482 Chapter 13 bankruptcy — — — 590 98 688 Finance receivables $ — $ — $ — $ 109,418 $ 18,752 $ 128,170 A performing account is defined as an account that is less than 61 days past due. The Company defines an automobile contract as delinquent when more than 10 % of a payment contractually due by a certain date has not been paid immediately by the following due date, which date may have been extended within limits specified in the servicing agreements or as a result of a deferral. The period of delinquency is based on the number of days payments are contractually past due, as extended where applicable. In certain circumstances, the Company will grant obligors one-month payment extensions. The only modification of terms in those circumstances is to advance the obligor’s next due date by one month and extend the maturity date of the receivable. There are no other concessions, such as a reduction in interest rate, or forgiveness of principal or of accrued interest. Accordingly, the Company considers such extensions to be insignificant delays in payments. A non-performing account is defined as an account that is contractually delinquent for 61 days or more or is a Chapter 13 bankruptcy account for which the accrual interest income has been suspended. The Company’s charge-off policy is to charge off an account in the month the contract becomes 121 days contractually delinquent. In the event an account is dismissed from bankruptcy, the Company will decide whether to begin repossession proceedings or to allow the customer to make regularly scheduled payments. The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding Chapter 13 bankruptcy accounts: Contracts (In thousands, except percentages) Balance 30 – 59 60 – 89 90 – 119 120+ Total December 31, 2023 $ 62,664 $ 7,741 $ 2,390 $ 1,353 $ — $ 11,484 12.35 % 3.81 % 2.16 % 0.00 % 18.33 % March 31, 2023 $ 108,828 $ 10,083 $ 3,274 $ 3,698 $ — $ 17,055 9.27 % 3.01 % 3.40 % 0.00 % 15.67 % Direct Loans (In thousands, except percentages) Balance 30 – 59 60 – 89 90 – 119 120+ Total December 31, 2023 $ 8,319 $ 1,050 $ 310 $ 201 $ — $ 1,561 12.62 % 3.73 % 2.42 % 0.00 % 18.76 % March 31, 2023 $ 18,654 $ 1,448 $ 654 $ 1,074 $ — $ 3,176 7.76 % 3.51 % 5.76 % 0.00 % 17.03 %

Credit Facility

Credit Facility	9 Months Ended
Credit Facility	Dec. 31, 2023
Line of Credit Facility [Abstract]
Credit Facility	Note 5. Credit Facility Westlake Credit Facility The Credit Agreement with Westlake Capital Finance, LLC (the "WL Credit Agreement") contains customary events of default and covenants, including but not limited to financial and operating results around tangible net worth, collateral performance indicator, excess spread ratio. Subject to Company’s compliance with certain terms and conditions, the lender waived its rights and remedies under the WL Credit Agreement applicable to the excess spread ratio covenant and collateral performance indicator through September 30, 2024. As of December 31, 2023, the Company had no aggregate outstanding indebtedness under the Westlake Capital Finance, LLC credit facility (the "WL Credit Facility"), compared to $ 28.9 million, net of debt issuance costs outstanding as of March 31, 2023. The Company fully paid the outstanding indebtedness under the WL Credit Facility as of October 27, 2023.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 6. Income Taxes The Company recorded an income tax benefit of approximately $ 0 million for the three months ended December 31, 2023 compared to an income tax expense of approximately $ 3.0 million for the three months ended December 31, 2022. The Company’s effective tax rate decreased to 0.0 % for the three months ended December 31, 2023 from - 29.1 % for the three months ended December 31, 2022. The Company recorded an income tax benefit of $ 0 for the nine months ended December 31, 2023 compared to an income tax expense of approximately $ 1.4 million for the nine months ended December 31, 2022. The Company’s effective tax rate decreased to 0.0 % for the nine months ended December 31, 2023 from - 8.4 % for the nine months ended December 31, 2022. The lower effective tax rate for the three and nine months ended December 31, 2023 is primarily attributable to the establishment of a valuation allowance as of December 31, 2022. During the quarter ended December 31, 2022, the Company determined there was not sufficient positive evidence of future earnings to support a position that it will be able to realize its net deferred tax asset. The Company has significant negative evidence to overcome in the form of cumulative pre-tax losses from continuing operations. Therefore, it will continue to maintain a full valuation allowance on its U.S. federal and state net deferred tax asset. The Company does no t have any material unrecognized tax benefits as of December 31, 2023. The net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes are reflected in deferred income taxes. Significant components of the Company’s deferred income tax assets consist of the following: (In thousands) December 31, 2023 March 31, 2023 Valuation allowances on finance receivables $ 4,777 $ 4,538 Share-based compensation 30 20 Federal and state net operating loss carryforwards 9,196 4,812 Right of use liability 33 43 Other items 29 87 Valuation allowance ( 14,001 ) ( 9,457 ) Total deferred tax assets 64 43 Deferred tax liabilities Right of use asset 33 43 Other items 31 - Total deferred tax liabilities 64 43 Deferred income taxes $ - $ - Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of negative evidence evaluated was the cumulative pre-tax loss over the three-year period ended December 31, 2023, as a result of which, a full valuation allowance remained recorded against the Company’s net deferred tax asset. The federal net operating loss ("NOL") generated beginning in 2021 and thereafter will carry forward indefinitely , while some state NOLs begin to expire March 31, 2039 . As of December 31, 2023, the Company maintained a deferred income tax valuation allowance of $ 14.0 million, the remaining state gross NOL was $ 57.3 million, and the remaining federal gross NOL amounted to $ 36.2 million.

Leases

Leases	9 Months Ended
Leases	Dec. 31, 2023
Leases [Abstract]
Leases	Note 7. Leases The Company leases its corporate headquarters and central business operations hub. The Company’s headquarters is located in Clearwater, Florida. The current lease relating to this space was entered into effective February 1, 2023 and expires on January 31, 2026 . The Company’s central business operations hub is located in Rock Hill, South Carolina. The current lease relating to this space was entered into effective March 20, 2023 . The Company decided to terminate the lease for its central business operations hub as of January 31, 2024. Both of the Company’s lease agreements are considered operating leases. None of the Company’s lease payments are dependent on a rate or index that may change after the commencement date, other than the passage of time. The Company’s lease liability was $ 0.1 million and $ 0.2 million as of December 31, 2023 and March 31, 2023, respectively. This liability is based on the present value of the remaining minimum rental payments using a discount rate that is determined based on the Company’s incremental borrowing rate. These lease liability amounts are included as part of other liabilities on Company's balance sheet. The lease asset was $ 0.1 million and $ 0.2 million as of December 31, 2023 and March 31, 2023, respectively. These lease asset amounts are included as part of other assets on Company's balance sheet. Future minimum lease payments under non-cancellable operating leases in effect as of December 31, 2023, are as follows: in thousands FY2024 (remaining three months) $ 17 FY2025 69 FY2026 62 Total future minimum lease payments 148 Present value adjustment ( 9 ) Operating lease liability $ 139 The following table reports information about the Company’s lease cost for the three m onths ended December 31, 2023 (in thousands): Lease cost: Operating lease cost $ 16 Variable lease cost 1 Total lease cost $ 17 The following table reports information about the Company’s lease cost for the three months ended December 31, 2022 (in thousands): Lease cost: Operating lease cost $ 435 Variable lease cost 92 Total lease cost $ 527 The following table reports other information about the Company’s lease s for the three months ended December 31, 2023 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 16 Operating Lease - Operating Cash Flows (Liability Reduction) $ 14 Weighted Average Lease Term - Operating Leases 2.4 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports other information about the Company’s leases for the three months ended December 31, 2022 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 457 Operating Lease - Operating Cash Flows (Liability Reduction) $ 369 Weighted Average Lease Term - Operating Leases 3.9 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports information about the Company’s lease cost for the nine months ended December 31, 2023 (in thousands): Lease cost: Operating lease cost $ 32 Variable lease cost 2 Total lease cost $ 34 The following table reports information about the Company’s lease cost for the nine months ended December 31, 2022 (in thousands): Lease cost: Operating lease cost $ 893 Variable lease cost 187 Total lease cost $ 1,080 The following table reports other information about the Company’s leases for the nine months ended December 31, 2023 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 33 Operating Lease - Operating Cash Flows (Liability Reduction) $ 28 Weighted Average Lease Term - Operating Leases 2.4 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports other information about the Company’s leases for the nine months ended December 31, 2022 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 902 Operating Lease - Operating Cash Flows (Liability Reduction) $ 748 Weighted Average Lease Term - Operating Leases 3.9 years Weighted Average Discount Rate - Operating Leases 6.5 %

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
Fair Value Disclosures	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Note 8. Fair Value Disclosures The Company’s financial instruments consist of cash and cash equivalents, finance receivables held for sale, finance receivables held for investment, and the WL Credit Facility. Finance receivables held for sale are measured at the lower of amortized cost or fair value. When the fair value of the finance receivables is less than the amortized cost basis, the Company records a valuation allowance which is a non-recurring fair value measurement. Repossessed assets are measured at the lower of carrying value or fair value less cost to sell. When the fair value less cost to sell of the repossessed assets is less than the carrying value, the Company records a valuation allowance which is a non-recurring fair value measurement. The Company estimates the fair value of repossessed assets held for sale utilizing auction recoveries statistics, resulting in a classification within Level 3 of the valuation hierarchy, as further described below. The Company estimates the fair value of finance receivables held for sale utilizing a discounted cash flow approach, which includes an evaluation of the underlying loan characteristics, as well as assumptions to determine the discount rate, credit mark, and prepayment forecasts. In determining the appropriate discount rate, prepayment and credit assumptions, the Company utilized its historical defaults and auction recoveries statistics, as well as publicly reported data for selected peers. Given the unobservable nature of these key inputs, these loans are therefore classified within Level 3 of the valuation hierarchy, as further described below. Significant increases (decreases) in the discount rate, in isolation, could result in a significantly lower (higher) fair value measurement. Fair value is defined in FASB ASC Topic 820-10-20 as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Fair value also assumes that the reporting entity would sell the asset or transfer the liability in the principal or most advantageous market. Market participants are defined as buyers and sellers in the principal (or most advantageous) market for the asset or liability that have all of the following characteristics: 1) an unrelated party; 2) knowledgeable (having a reasonable understanding about the asset or liability and the transaction based on all available information, including information that might be obtained through due diligence efforts that are usual or customary); 3) able to transact; and 4) willing to transact (motivated but not forced or otherwise compelled to do so). The FASB states that “valuation techniques that are appropriate in the circumstances and for which sufficient data are available shall be used to measure fair value.” The valuation techniques for measuring fair value are consistent with the three traditional approaches to value: the market approach, the income approach, and the cost or asset approach. The application of valuation techniques requires the use of common sense, informed judgment, and reasonableness based on the relevant facts and circumstances surrounding the analysis. There are relevant inputs (both observable and unobservable) that can be used in valuation based on the facts and circumstances. The FASB has defined a fair value hierarchy for these inputs which prioritizes the inputs into three broad levels: Level 1 inputs are defined as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are defined as inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are defined as unobservable inputs for the asset or liability. Unobservable inputs should be used only to the extent that relevant observable inputs are not available; this allows for situations where there is little, if any, market activity for the asset or liability at the measurement date. Unobservable inputs should reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). The fair value of the Credit Facility as of December 31, 2023 was zero. The fair value of the Credit Facility, which was entered late in the prior year, was estimated to be equal to the book value at March 31, 2023 as the interest rate was a variable rate based on SOFR pricing options. (In thousands) Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Carrying Cash December 31, 2023 $ 1,219 $ - $ - $ 1,219 $ 1,219 March 31, 2023 $ 454 $ - $ - $ 454 $ 454 Cash equivalents: December 31, 2023 $ 6,598 $ - $ - $ 6,598 $ 6,598 March 31, 2023 $ - $ - $ - $ - $ - Finance receivables: December 31, 2023 $ - $ - $ 50,306 $ 50,306 $ 50,306 March 31, 2023 $ - $ - $ 105,971 $ 105,971 $ 106,919 Repossessed assets: December 31, 2023 $ - $ - $ 395 $ 395 $ 395 March 31, 2023 $ - $ - $ 1,491 $ 1,491 $ 1,491 Credit Facility: December 31, 2023 $ - $ - $ - $ - $ - March 31, 2023 $ - $ - $ 29,100 $ 29,100 $ 29,100 Level 3 Assets with Significant Unobservable Inputs Fair Value Valuation Technique Significant Unobservable Inputs Range Weighted Average (1) Non-recurring fair value Finance receivables held for sale $ 50,306 Discounted Cash Flows Discount Rate 16.4 % - 17.6 % 17.3 % Repossessed assets held for sale 395 Discounted Cash Flows Discount Rate 16.4 % - 17.6 % 17.3 % (1) Weighted averages are determined by the relative fair value of the instruments or the relative contribution to the instruments fair value.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	N ote 9. Commitments and Contingencies The Company is involved in certain claims and legal proceedings in the normal course of business of which one, if decided adversely to the Company, would, in the opinion of management, have a material adverse effect on the Company’s financial condition or results of operations. Specifically, the Company has been sued together with several other defendants, in a lawsuit styled: Nicholas Financial, Inc. v. Jeremiah Gross, No. 21CY-CV02148-01, 7th Judicial Circuit Court, Clay County, Missouri (the "Court"). On March 9, 2021 the Company filed suit against Jeremiah Gross for a deficiency balance owed to the Company following the 2018 surrender and sale of his motor vehicle which secured a loan from the Company. On April 22, 2021 a default judgment for $ 7,984.18 was entered against Mr. Gross. On December 22, 2021 Mr. Gross filed a motion to set aside the default judgment. The Court granted his motion on March 23, 2022. In his answer he asserted a class-action counterclaim against the Company seeking to represent a nationwide class of the Company’s customers who received allegedly deficient notices regarding the sale of their vehicles and whose vehicles were recovered and sold by the Company, and on behalf of Missouri customers who received allegedly deficient notices from the Company regarding the sale of their recovered vehicles and the calculation of the deficiency owed the Company. The Company filed its answer to the counterclaim on May 13, 2022. On September 9, 2022 the Company filed a motion for summary judgment as to all counts of the counterclaim and the Company's claim against Mr. Gross. The motion was argued on February 16, 2023. On March 27, 2023 the Court entered an order granting the motion in part and denying the motion in part. The Court found in favor of the Company as to the counterclaim regarding presale notices and prejudgment interest, and in Mr. Gross’s favor for the counterclaim as to post-sale notices. The Court denied the Company’s motion for summary judgment as to its claim for a deficiency against Mr. Gross. The remaining claim relates to post-sale notices sent to Missouri customers. The Company’s insurer accepted the defense of this litigation under a reservation of rights. On November 13, 2023 the Company and the Company’s insurer reached agreement with Mr. Gross on the terms and conditions of a settlement for the last remaining class action claim relating to post-sale notices sent to Missouri customers. Among other things, the settlement is expected to provide that the Company’s insurer will deposit the remaining available limits under the Company’s insurance policy, which shall in no event be less than $ 750,000 , into a qualified settlement fund in order to satisfy all remaining claims in exchange for a full release of the Company and its affiliates and the Company’s insurer from any and all past, present and future liability arising out of or relating to consumer credit contracts under which the Company or its affiliates obtained a security interest in property. The terms and conditions of the final settlement agreement will be subject to approval by the Court, and the parties in the litigation intend to seek such approval promptly following memorialization of the terms and conditions of the settlement into a final agreement. There can be no assurance that the Court will approve the terms and conditions of the final settlement agreement.

Stock Plans

Stock Plans	9 Months Ended
Stock Plans	Dec. 31, 2023
Equity [Abstract]
Stock Plans	Note 10. Stock Plans In May 2019, the Company’s Board of Directors (“Board”) authorized a new stock repurchase program allowing for the repurchase of up to $ 8.0 million of the Company’s outstanding shares of common stock in open market purchases, privately negotiated transactions, or through other structures in accordance with applicable federal securities laws. The authorization was effective immediately. In August 2019, the Company’s Board authorized additional repurchases of up to $ 1.0 million of the Company’s outstanding shares. The timing and actual number of repurchases will depend on a variety of factors, including stock price, corporate and regulatory requirements and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time. The following table summarizes treasury share transactions under the Company's stock repurchase program: Three months ended December 31, 2023 2022 Number of Amount Number of Amount Treasury shares at the beginning of period 5,368 $ ( 76,794 ) 5,349 $ ( 76,684 ) Treasury shares purchased - - 19 ( 110 ) Treasury shares at the end of period 5,368 $ ( 76,794 ) 5,368 $ ( 76,794 ) Nine months ended December 31, 2023 2022 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 5,368 $ ( 76,794 ) 5,127 $ ( 74,405 ) Treasury shares purchased - - 241 ( 2,389 ) Treasury shares at the end of period 5,368 $ ( 76,794 ) 5,368 $ ( 76,794 ) For the three and nine months ended December 31, 2023, the Company did not repurchase any shares of its common stock.

Restructuring Activities

Restructuring Activities	9 Months Ended
Restructuring Activities	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	Note 11. Restructuring Activities Costs related to the Company's previously disclosed restructuring plan are summarized as follows: (In thousands) Total Cost Estimated Incurred to Date Remaining cost Branch Closures $ 3,213 $ 3,207 $ 6 Severance 570 570 - Cease-use of contractual services 1,034 1,034 - Professional fees 903 744 159 Other 26 12 14 Total restructuring cost $ 5,746 $ 5,567 $ 179

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events On January 26, 2024 the Company terminated the WL Credit Facility. The Company did not incur any termination penalties in connection with the termination of the WL Credit Facility. The Company’s Registration Statement on Form S-4 filed with the U.S. Securities and Exchange Commission on November 22, 2023, was amended on January 10, 2024 and January 29, 2024, and became effective on February 9, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Nicholas Financial, Inc. (“Nicholas Financial – Canada”) is a Canadian holding company incorporated under the laws of British Columbia with several wholly-owned United States subsidiaries, including Nicholas Financial, Inc., a Florida corporation (“NFI”). The accompanying condensed consolidated balance sheet as of December 31, 2023, and the accompanying unaudited interim condensed consolidated financial statements of Nicholas Financial – Canada, and its wholly-owned subsidiaries (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information, with the instructions to Form 10-Q pursuant to the Securities Exchange Act of 1934, as amended, and with Article 8 of Regulation S-X thereunder. Accordingly, they do not include all of the information and notes to the consolidated financial statements required by U.S. GAAP for complete consolidated financial statements, although the Company believes that the disclosures made are adequate to ensure the information is not misleading. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for interim periods are not necessarily indicative of the results that may be expected for the year ending March 31, 2024. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 as filed with the Securities and Exchange Commission on June 27, 2023. The March 31, 2023 consolidated balance sheet included herein has been derived from the March 31, 2023 audited consolidated balance sheet included in the aforementioned Form 10-K. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on finance receivables. As previously disclosed in the Company’s Registration Statement on Form S-4 filed with the U.S. Securities and Exchange Commission on November 22, 2023, as amended on January 10, 2024 and January 29, 2024, the Company is seeking shareholder approval for the sale of all or substantially all of the Company's undertaking, consisting of automobile finance installment contracts, pursuant to the terms of a Master Asset Purchase Agreement dated as of November 13, 2023 between the Company and Westlake Services, LLC dba Westlake Financial, a California limited liability company (the “Loan Portfolio Sale”). The Company is pursuing the Loan Portfolio Sale for a number of reasons consistent with its previously disclosed evolving restructuring plan. Management believes the Loan Portfolio Sale will free up capital and permit the Company to allocate excess capital and utilize net operating losses to increase shareholder returns, whether by acquiring businesses or by investing outside of the Company's traditional business. Assuming closing of the Loan Portfolio Sale, the Board of Directors intends to explore strategic alternatives for the use of the net proceeds from the sale and seek to maximize the value of deferred tax assets, including net operating losses, available to the Company. The Company adopted ASU 2016-13 on April 1, 2023 (see Note 2), and consequently utilized the current expected credit losses model through October 31, 2023, by applying a discounted cash flow methodology to its financial assets, measured at amortized cost over the life of the financial assets. On November 1, 2023, concurrent with the decision to sell the portfolio, the Company reclassified its finance receivables to held for sale, which are carried at the lower of amortized cost or fair value. As a result of this reclassification, the Company eliminated the allowance for credit losses under Accounting Standards Codification (ASC) 326 which resulted in a reversal of previously recorded provisions for credit losses for the three and nine months ended December 31, 2023. The Company compared the fair value and amortized cost of finance receivables held for sale and recorded a held for sale valuation allowance through earnings to reduce the amortized cost basis to fair value as of December 31, 2023. The Company estimates the fair value of these loans held for sale utilizing a discounted cash flow approach which includes an evaluation of the collateral and underlying loan characteristics, as well as assumptions to determine the discount rate such as credit loss and prepayment forecasts, and servicing costs. In determining the appropriate discount rate, prepayment and credit assumptions, the Company monitors other capital markets activity for similar collateral being traded and/or interest rates currently being offered for similar products. The Company management also reviews the key assumptions used in arriving at the final estimates related to the fair value of these loans held for sale. Significant increases or decreases in any of those assumptions in isolation could result in a significantly lower (higher) fair value measurement. Reclassifications In certain instances, amounts reported in the prior year financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported net income (loss)
Allowance for Credit Losses (ACL)	Allowance for Credit Losses (ACL) and Held for Sale Allowance The Company adopted ASU 2016-13 on April 1, 2023, and consequently utilized the current expected credit losses model through October 31, 2023, by applying a Discounted Cash Flow (DCF) methodology to its financial assets, measured at amortized cost, over the life of those financial assets. Beginning on November 1, 2023, the Company is carrying its loan portfolio at the lower of amortized cost or fair value. For the period from April 1, 2023 through October 31, 2023, the ACL reflects the difference between the amortized cost basis and the present value of the expected cash flows of finance receivables. Provisions for credit losses were recorded in amounts sufficient to maintain an ACL at an adequate level to provide for estimated losses over the lives of the finance receivables. Portfolio segments are comprised of homogeneous loans sharing common risk factors. Accordingly, loans are not individually evaluated for collectability. Consistent with the application during prior reporting years, the Company continued charging credit losses against the allowance when the account reached 120 days contractually delinquent and any recoveries on finance receivables previously charged to the ACL were credited to the ACL when collected. The Company used a DCF model to forecast expected credit losses. Historical information about losses generally provided a basis for the estimate of expected credit losses. The Company has utilized its own historical data as well as its peer group companies' data from FFIEC Call Report filings. This data was used to produce regression analyses designed to quantify the impact of reasonable and supportable forecasts in projective models. The Company also considered the need to adjust historical information to reflect the extent to which conditions differed from the conditions that existed for the period over which historical information was evaluated. These adjustments to historical loss information may be qualitative or quantitative in nature. The Company considered changes in international, national, regional and local conditions, changes in the volume and severity of past due loans, portfolio bankruptcy trends, maturity terms extensions, changes in the value of underlying collateral for collateral dependent loans, the effect of other external factors, such as competition, legal and regulatory requirements on the level of estimated credit losses, the existence and effect of any concentrations of credit and changes in the levels of such concentrations, changes in the nature and volume of the portfolio and terms of loans, changes in the quality of the loan review system, changes in the experience, depth, and ability of lending management, and reasonable and supportable economic forecasts, which covered the lives of the finance receivables. The Company discounted expected cash flows at the financial asset’s effective interest rate. The effective interest rate is defined in ASC 326 as the contractual interest rate adjusted for any net deferred fees or costs, premium, or discount existing at the origination or acquisition of the financial assets. For the Company, this was calculated using adjusted contractual cash flows relative to the amortized cost. The Company also considered prepayment and curtailment effects in calculation of its effective interest rate. According to ASC 326-20-30-9, estimating expected credit losses is highly judgmental and requires management to produce reasonable and supportable forecasts of expected credit losses. The Company elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each considered economic factor as permitted in ASC 326-20-30-9. Based on the final values in the forecast and the uncertainty of a post-pandemic recovery, management elected to revert over four quarters. The Company also used information provided by the Federal Open Market Committee (FOMC) to obtain various forecasts for unemployment rate and gross domestic product, as well as other economic factors that were considered as part of its ACL calculations. The Company elected not to measure an allowance on accrued interest which is included as a component of amortized cost and limited to performing accounts, defined as an account that is less than 61 days past due. Accrual of interest income on finance receivables is suspended when a loan was contractually delinquent for 61 days or more, or the collateral is repossessed, whichever is earlier. Consistent with the application in the prior reporting periods, the Company continued timely reversing of the accrual of interest income when the loan was contractually delinquent 61 days or more. All of these accounts were accounted for in the calculation for allowance for credit losses. The Company defines a non-performing asset as one that is 61 or more days past due, a Chapter 7 bankruptcy account, or a Chapter 13 bankruptcy account that has not been confirmed by the courts, for which the accrual of interest income is suspended. Upon confirmation of a Chapter 13 bankruptcy account, the account is immediately charged-off. Upon notification of a Chapter 7 bankruptcy, an account is monitored for collectability. In the event the debtors’ balance is reduced by the bankruptcy court, the Company records a loss equal to the amount of principal balance reduction. The remaining balance is reduced as payments are received. In the event an account is dismissed from bankruptcy, the Company will decide whether to begin repossession proceedings or to allow the customer to make regularly scheduled payments. Prior to adoption of ASU 2016-13 the Company was periodically evaluating the composition of the portfolio, current economic conditions, the estimated net realizable value of the underlying collateral, historical loan loss experience, delinquency, non-performing assets, and bankrupt accounts when determining management’s estimate of probable credit losses and the adequacy of the allowance for credit losses. Management utilized significant judgment in determining probable incurred losses and in identifying and evaluating qualitative factors. This approach aligned with the Company’s lending policies and underwriting standards. If the allowance for credit losses is determined to be inadequate, then an additional charge to the provision is recorded to maintain adequate reserves based on management’s evaluation of the risk inherent in the loan portfolio. The Company used a trailing twelve-month net charge-off as a percentage of average finance receivables, and applied this percentage to ending finance receivables to estimate probable credit losses. This approach reflected the current trends of incurred losses within the portfolio and closely aligns the allowance for credit losses with the portfolio’s performance indicators. Estimating the allowance for credit losses using the trailing twelve-month charge-off analysis reflected portfolio performance adjusted for seasonality. Management evaluated qualitative factors to support its allowance for credit losses. The Company examined the impact of macro-economic factors, such as year-over-year inflation, as well as portfolio performance characteristics, such as changes in the value of underlying collateral, level of nonperforming accounts, delinquency trends, and accounts with extended terms. As of November 1, 2023, concurrent with the decision to sell the portfolio, the Company reclassified its finance receivables to held for sale, which are carried at the lower of amortized cost or fair value. As a result of this reclassification, the Company eliminated the allowance for credit losses established under ASC 326 which resulted in a reversal of previously recorded provisions for credit losses for the period from April 1, 2023 through October 31, 2023. The Company compared the fair value and amortized cost of finance receivables held for sale and recorded a held for sale valuation allowance of $ 19.5 million through earnings to reduce the amortized cost basis to fair value as of December 31, 2023.

Accounting Standards Recently_2

Accounting Standards Recently Adopted or Applied (Policies)	9 Months Ended
Accounting Standards Recently Adopted or Applied (Policies)	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Cash Equivalents	Cash Equivalents Short-term highly liquid investments with a maturity date that was 3 months or less at the time of purchase are treated as cash equivalents. Amounts earned from cash equivalents are presented separately in the unaudited Condensed Consolidated Statements of Income (Loss).
Allowance for Credit Losses (ACL)	Allowance for Credit Losses (ACL) In June 2016, the Financial Accounting Standard Board (FASB) issued the Accounting Standards Update (ASU) 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The ASU also requires additional disclosures related to estimates and judgments used to measure all expected credit losses. The Company adopted this standard effective April 1, 2023. The initial impact of adoption was a $ 0.2 million decrease to retained earnings ($ 0.2 million increase to the allowance for credit losses (ACL)). As of April 1, 2023, there is a full valuation allowance recorded against the deferred tax assets (DTA). Therefore, a net increase of $ 0.1 million recorded to the DTA was offset by an increase of the same amount to the valuation allowance. The ACL reflects the difference between the amortized cost basis and the present value of the expected cash flows. In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures , which removes the accounting guidance for troubled debt restructurings and requires entities to evaluate whether a modification provided to a customer results in a new loan or continuation of an existing loan. The amendments enhance existing disclosures and require new disclosures for receivables when there has been a modification in contractual cash flows due to a customer experiencing financial difficulties. Additionally, the amendments require public business entities to disclose gross charge-off information by year of origination in the vintage disclosures. This ASU became effective for us on April 1, 2023. We adopted this guidance in the first quarter of fiscal 2024 using the modified retrospective method. Adoption of this standard did not have a material impact on the Company's unaudited Condensed Consolidated Financial Statements. The Company does not believe there are any other recently issued accounting standards that have not yet been adopted that will have a material impact on the Company’s consolidated financial statements.
Finance Receivables Held for Sale	Finance Receivables Held for Sale Finance Receivables are reclassified to held for sale at the point the criteria for changing classification is met (when the Company decides to sell finance receivables that were originally classified as held for investment). The previously recorded allowance for credit losses, under Topic 326, associated with the reclassified finance receivables (after applying the write off policy) is released and an offsetting entry recorded to the provision for credit losses. This has had the effect of reversing the pre-transfer held for investment allowance for credit losses through the provision. Finance receivables held for sale are carried at the lower of amortized cost bosis or fair value which generally established a new held for sale valuation allowance through earnings in the same reporting period. Changes in the held for sale valuation allowance are recorded through earnings along with charge offs and recoveries as "Fair value and other adjustments net" in the unaudited Condensed Consolidated Statements of Income (Loss).

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings (loss) per share	Earnings per share is computed based on the following weighted average number of common shares outstanding: Three months ended Nine months ended 2023 2022 2023 2022 Numerator Net loss per consolidated statements of income $ ( 11,661 ) $ ( 13,373 ) $ ( 20,590 ) $ ( 18,322 ) Percentage allocated to shareholders * 100.0 % 100.0 % 100.0 % 100.0 % Numerator for basic and diluted earnings per share $ ( 11,661 ) $ ( 13,373 ) $ ( 20,590 ) $ ( 18,322 ) Denominator Denominator for basic earnings per share - weighted-average shares outstanding 7,286 7,219 7,285 7,349 Dilutive effect of stock options — — — — Denominator for diluted earnings per share 7,286 7,219 7,285 7,349 Per share loss from continuing operations Basic $ ( 1.60 ) $ ( 1.85 ) $ ( 2.83 ) $ ( 2.49 ) Diluted ( 1.60 ) ( 1.85 ) ( 2.83 ) ( 2.49 ) * Basic weighted-average shares outstanding 7,286 7,219 7,285 7,349 Basic weighted-average shares outstanding and unvested restricted stock units expected to vest 7,287 7,219 7,285 7,349 Percentage allocated to shareholders 100.0 % 100.0 % 100.0 % 100.0 %

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
Finance Receivables (Tables)	Dec. 31, 2023
Receivables [Abstract]
Schedule of finance receivables consisting of automobile finance installment Contracts and Direct Loans	Finance receivables held for investment, net consist of Contracts and Direct Loans and are detailed as follows: (In thousands) December 31, March 31, Finance receivables held for investment $ — $ 128,170 Accrued interest receivable — 1,932 Unearned dealer discounts — ( 4,286 ) Unearned insurance commissions and fees — ( 1,419 ) Unearned purchase price discount — ( 82 ) Finance receivables held for investment, net of unearned discounts and fees and accrued interest receivable — 124,315 Allowance for credit losses — ( 17,396 ) Finance receivables held for investment, net $ — $ 106,919
Finance receivables held for sale consist of Contracts and Direct LoansTableTextBlock	Finance receivables held for sale consist of Contracts and Direct Loans and are detailed as follows: (In thousands) December 31, March 31, 2023 2023 Finance receivables held for sale at amortized cost $ 69,763 - Held for sale allowance ( 19,457 ) - Finance receivables held for sale at fair value $ 50,306 $ -
Schedule of selected information on entire comprise portfolio	Contracts and Direct Loans each comprise a portfolio segment which consists of groups of loans sharing common risk factors. The following tables present selected information on the entire portfolio of the Company: As of December 31, As of March 31, Contract Portfolio 2023 2023 Average APR 22.7 % 22.8 % Average discount 6.4 % 6.8 % Average term (months) 49 49 Number of active contracts 9,088 14,081 As of December 31, As of March 31, Direct Loan Portfolio 2023 2023 Average APR 27.3 % 29.1 % Average term (months) 33 28 Number of active contracts 2,485 5,322
Schedule of reconciliation of the changes in the allowance for credit losses	The following table sets forth a reconciliation of the changes in the allowance for credit losses under ASC 326 on Contracts and Direct Loans for the three and nine months ended December 31, 2023 and 2022 (in thousands): Three months ended December 31, 2023 Nine months ended December 31, 2023 Contracts Direct Loans Total Contracts Direct Loans Consolidated Balance at beginning of period, prior to adoption of ASU 2016-13 $ 12,189 $ 1,068 $ 13,257 $ 16,265 $ 1,131 $ 17,396 Impact of adoption of ASU 2016-13 — — — ( 562 ) 772 210 Provision for credit losses (1) 1,588 183 1,771 12,713 2,110 14,823 Charge-offs ( 3,041 ) ( 369 ) ( 3,410 ) ( 21,337 ) ( 3,495 ) ( 24,832 ) Recoveries 553 82 635 4,210 446 4,656 Reversal of allowance for credit losses (2) ( 11,289 ) ( 964 ) ( 12,253 ) ( 11,289 ) ( 964 ) ( 12,253 ) Balance at December 31, 2023 $ — $ — $ — $ — $ — $ — Three months ended December 31, 2022 Nine months ended December 31, 2022 Contracts Direct Loans Total Contracts Direct Loans Consolidated Balance at beginning of period $ 5,088 $ 2,003 $ 7,091 $ 1,960 $ 989 $ 2,949 Provision for credit losses 9,132 1,598 10,730 19,747 3,533 23,280 Charge-offs ( 7,077 ) ( 1,056 ) ( 8,133 ) ( 17,266 ) ( 2,050 ) ( 19,316 ) Recoveries 1,240 24 1,264 3,942 97 4,039 Balance at December 31, 2022 $ 8,383 $ 2,569 $ 10,952 $ 8,383 $ 2,569 $ 10,952 (1) Provision for credit losses and reversal of allowance for credit losses is presented net as "Provision for credit losses" in the Condensed Consolidated Statements of Income (Loss). (2) Amounts shown represents charge-off through October 31, 2023. Since November 1, 2023 charge-offs are included in "Fair value and other adjustment, net" in the Condensed Consolidated Statements of Income (Loss).
Schedule of table shows activity by origination year	The following table presents gross charge-offs and recoveries by receivable origination year for total portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 88 $ — $ 88 2023 1,256 138 1,118 2022 1,294 216 1,078 2021 363 109 254 2020 215 42 173 Prior 194 130 64 Total $ 3,410 $ 635 $ 2,775 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 113 $ — $ 113 2023 10,061 1,122 8,939 2022 9,448 1,496 7,952 2021 2,776 547 2,229 2020 1,209 506 703 Prior 1,225 985 240 Total $ 24,832 $ 4,656 $ 20,176 The following table presents gross charge-offs and recoveries by receivable origination year for Contract segment of portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 88 $ — $ 88 2023 1,072 100 972 2022 1,124 185 939 2021 350 102 248 2020 214 38 176 Prior 193 128 65 Total $ 3,041 $ 553 $ 2,488 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ 113 $ — $ 113 2023 7,950 907 7,043 2022 8,127 1,320 6,807 2021 2,722 521 2,201 2020 1,201 489 712 Prior 1,224 973 251 Total $ 21,337 $ 4,210 $ 17,127 The following table presents gross charge-offs and recoveries by receivable origination year for Direct segment of portfolio: (In thousands) Three months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ — $ — $ — 2023 184 38 146 2022 170 31 139 2021 13 7 6 2020 1 4 ( 3 ) Prior 1 2 ( 1 ) Total $ 369 $ 82 $ 287 (In thousands) Nine months ended December 31, 2023 Gross Charge-offs Gross Recoveries Net Charge-offs 2024 $ — $ — $ — 2023 2,111 215 1,896 2022 1,321 176 1,145 2021 54 26 28 2020 8 17 ( 9 ) Prior 1 12 ( 11 ) Total $ 3,495 $ 446 $ 3,049
Schedule of an assessment of the credit quality by creditworthiness	The following table is an assessment of the credit quality by creditworthiness for finance receivables held for investment: (In thousands) December 31, 2023 March 31, 2023 Contracts Direct Loans Total Contracts Direct Loans Total Performing accounts $ — $ — $ — $ 101,856 $ 16,926 $ 118,782 Non-performing accounts — — — 6,972 1,728 8,700 Total — — — 108,828 18,654 127,482 Chapter 13 bankruptcy — — — 590 98 688 Finance receivables $ — $ — $ — $ 109,418 $ 18,752 $ 128,170
Schedule of information regarding delinquency rates	The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding Chapter 13 bankruptcy accounts: Contracts (In thousands, except percentages) Balance 30 – 59 60 – 89 90 – 119 120+ Total December 31, 2023 $ 62,664 $ 7,741 $ 2,390 $ 1,353 $ — $ 11,484 12.35 % 3.81 % 2.16 % 0.00 % 18.33 % March 31, 2023 $ 108,828 $ 10,083 $ 3,274 $ 3,698 $ — $ 17,055 9.27 % 3.01 % 3.40 % 0.00 % 15.67 % Direct Loans (In thousands, except percentages) Balance 30 – 59 60 – 89 90 – 119 120+ Total December 31, 2023 $ 8,319 $ 1,050 $ 310 $ 201 $ — $ 1,561 12.62 % 3.73 % 2.42 % 0.00 % 18.76 % March 31, 2023 $ 18,654 $ 1,448 $ 654 $ 1,074 $ — $ 3,176 7.76 % 3.51 % 5.76 % 0.00 % 17.03 %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	The net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes are reflected in deferred income taxes. Significant components of the Company’s deferred income tax assets consist of the following: (In thousands) December 31, 2023 March 31, 2023 Valuation allowances on finance receivables $ 4,777 $ 4,538 Share-based compensation 30 20 Federal and state net operating loss carryforwards 9,196 4,812 Right of use liability 33 43 Other items 29 87 Valuation allowance ( 14,001 ) ( 9,457 ) Total deferred tax assets 64 43 Deferred tax liabilities Right of use asset 33 43 Other items 31 - Total deferred tax liabilities 64 43 Deferred income taxes $ - $ -

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Dec. 31, 2023
Leases [Abstract]
Summary of future minimum lease payments under non-cancellable operating leases	Future minimum lease payments under non-cancellable operating leases in effect as of December 31, 2023, are as follows: in thousands FY2024 (remaining three months) $ 17 FY2025 69 FY2026 62 Total future minimum lease payments 148 Present value adjustment ( 9 ) Operating lease liability $ 139
Schedule of lease cost	The following table reports information about the Company’s lease cost for the three m onths ended December 31, 2023 (in thousands): Lease cost: Operating lease cost $ 16 Variable lease cost 1 Total lease cost $ 17 The following table reports information about the Company’s lease cost for the three months ended December 31, 2022 (in thousands): Lease cost: Operating lease cost $ 435 Variable lease cost 92 Total lease cost $ 527 The following table reports information about the Company’s lease cost for the nine months ended December 31, 2023 (in thousands): Lease cost: Operating lease cost $ 32 Variable lease cost 2 Total lease cost $ 34 The following table reports information about the Company’s lease cost for the nine months ended December 31, 2022 (in thousands): Lease cost: Operating lease cost $ 893 Variable lease cost 187 Total lease cost $ 1,080
Schedule of other lease information	The following table reports other information about the Company’s lease s for the three months ended December 31, 2023 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 16 Operating Lease - Operating Cash Flows (Liability Reduction) $ 14 Weighted Average Lease Term - Operating Leases 2.4 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports other information about the Company’s leases for the three months ended December 31, 2022 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 457 Operating Lease - Operating Cash Flows (Liability Reduction) $ 369 Weighted Average Lease Term - Operating Leases 3.9 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports other information about the Company’s leases for the nine months ended December 31, 2023 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 33 Operating Lease - Operating Cash Flows (Liability Reduction) $ 28 Weighted Average Lease Term - Operating Leases 2.4 years Weighted Average Discount Rate - Operating Leases 6.5 % The following table reports other information about the Company’s leases for the nine months ended December 31, 2022 (dollar amounts in thousands): Operating Lease - Operating Cash Flows (Fixed Payments) $ 902 Operating Lease - Operating Cash Flows (Liability Reduction) $ 748 Weighted Average Lease Term - Operating Leases 3.9 years Weighted Average Discount Rate - Operating Leases 6.5 %

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
Fair Value Disclosures (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of financial instruments not measured at fair value	interest rate was a variable rate based on SOFR pricing options. (In thousands) Fair Value Measurement Using Description Level 1 Level 2 Level 3 Fair Carrying Cash December 31, 2023 $ 1,219 $ - $ - $ 1,219 $ 1,219 March 31, 2023 $ 454 $ - $ - $ 454 $ 454 Cash equivalents: December 31, 2023 $ 6,598 $ - $ - $ 6,598 $ 6,598 March 31, 2023 $ - $ - $ - $ - $ - Finance receivables: December 31, 2023 $ - $ - $ 50,306 $ 50,306 $ 50,306 March 31, 2023 $ - $ - $ 105,971 $ 105,971 $ 106,919 Repossessed assets: December 31, 2023 $ - $ - $ 395 $ 395 $ 395 March 31, 2023 $ - $ - $ 1,491 $ 1,491 $ 1,491 Credit Facility: December 31, 2023 $ - $ - $ - $ - $ - March 31, 2023 $ - $ - $ 29,100 $ 29,100 $ 29,100
Schedule of fair value measurement inputs and valuation techniques	Level 3 Assets with Significant Unobservable Inputs Fair Value Valuation Technique Significant Unobservable Inputs Range Weighted Average (1) Non-recurring fair value Finance receivables held for sale $ 50,306 Discounted Cash Flows Discount Rate 16.4 % - 17.6 % 17.3 % Repossessed assets held for sale 395 Discounted Cash Flows Discount Rate 16.4 % - 17.6 % 17.3 % (1) Weighted averages are determined by the relative fair value of the instruments or the relative contribution to the instruments fair value.

Stock Plans (Tables)

Stock Plans (Tables)	9 Months Ended
Stock Plans (Tables)	Dec. 31, 2023
Equity [Abstract]
Summary of Treasury Share Transactions Under the Company's Stock Repurchase Program	The following table summarizes treasury share transactions under the Company's stock repurchase program: Three months ended December 31, 2023 2022 Number of Amount Number of Amount Treasury shares at the beginning of period 5,368 $ ( 76,794 ) 5,349 $ ( 76,684 ) Treasury shares purchased - - 19 ( 110 ) Treasury shares at the end of period 5,368 $ ( 76,794 ) 5,368 $ ( 76,794 ) Nine months ended December 31, 2023 2022 Number of Shares Amount Number of Shares Amount Treasury shares at the beginning of period 5,368 $ ( 76,794 ) 5,127 $ ( 74,405 ) Treasury shares purchased - - 241 ( 2,389 ) Treasury shares at the end of period 5,368 $ ( 76,794 ) 5,368 $ ( 76,794 )

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
Restructuring Activities (Tables)	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Costs related to the restructuring plan	Costs related to the Company's previously disclosed restructuring plan are summarized as follows: (In thousands) Total Cost Estimated Incurred to Date Remaining cost Branch Closures $ 3,213 $ 3,207 $ 6 Severance 570 570 - Cease-use of contractual services 1,034 1,034 - Professional fees 903 744 159 Other 26 12 14 Total restructuring cost $ 5,746 $ 5,567 $ 179

Accounting Standards Recently_3

Accounting Standards Recently Adopted or Applied (Detail Textuals) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Retained earnings	$ 100,580	$ 121,380
Deferred Tax Assets, Valuation Allowance	14,001	$ 9,457
Accounting Standard Updates (ASU) 2016-13 Financial Instruments
Retained earnings	200
Allowance for Credit Losses (ACL)	200
Deferred Tax Assets, Valuation Allowance	$ 100

Earnings Per Share (Additional

Earnings Per Share (Additional Information) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from diluted earnings per share	10	10	10	10

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income (loss) per consolidated statements of income	$ (11,661)	$ (13,373)	$ (20,590)	$ (18,322)
Percentage allocated to shareholders *	100%	100%	100%	100%
Numerator for basic earnings per share	$ (11,661)	$ (13,373)	$ (20,590)	$ (18,322)
Numerator for diluted earnings per share	$ (11,661)	$ (13,373)	$ (20,590)	$ (18,322)
Denominator
Denominator for Basic earnings per share - weighted-average shares outstanding	7,286	7,219	7,285	7,349
Denominator for diluted earnings per share	7,286	7,219	7,285	7,349
Per share loss from continuing operations
Basic	$ (1.6)	$ (1.85)	$ (2.83)	$ (2.49)
Diluted	$ (1.6)	$ (1.85)	$ (2.83)	$ (2.49)

Earnings Per Share (Parenthetic

Earnings Per Share (Parentheticals) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Basic weighted-average shares outstanding	7,286	7,219	7,285	7,349
Basic weighted-average shares outstanding and unvested restricted stock units expected to vest	7,287	7,219	7,285	7,349
Percentage allocated to shareholders *	100%	100%	100%	100%

Finance Receivables - Summary o

Finance Receivables - Summary of contracts and direct loans included in finance receivables (Details) - Finance Receivables - Contracts and direct loans - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Finance receivables held for investment	$ 0	$ 128,170
Accrued interest receivable	0	1,932
Unearned dealer discounts	0	(4,286)
Unearned insurance commissions and fees	0	(1,419)
Unearned purchase price discount	0	(82)
Finance receivables, net of unearned discounts and fees and accrued interest receivable	0	124,315
Allowance for credit losses	0	(17,396)
Finance receivables held for investment, net	$ 0	$ 106,919

Finance receivables held for sa

Finance receivables held for sale consist of Contracts and Direct Loans (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for sale at amortized cost	$ 69,763
Held for sale allowance	19,457
Finance receivables held for sale at fair value	$ 50,306

Finance Receivables - Selected

Finance Receivables - Selected information on entire portfolio of Company (Details) - Contract	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Average APR	22.70%	22.80%
Average discount	6.40%	6.80%
Average term (months)	49 months	49 months
Number of active contracts	9,088	14,081
Direct Loan Portfolio
Accounts Notes And Loans Receivable [Line Items]
Average APR	27.30%	29.10%
Average term (months)	33 months	28 months
Number of active contracts	2,485	5,322

Finance Receivables - Summary_2

Finance Receivables - Summary of reconciliation of changes in allowance for credit losses on contracts (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2023		Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Provision for credit losses		$ (10,482)		$ 10,730	$ 2,570		$ 23,280
Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		13,257		7,091	17,396		2,949
Impact of adoption of ASU 2016-13		0			210
Provision for credit losses		1,771	[1]	10,730	14,823	[1]	23,280
Charge-offs		(3,410)		(8,133)	(24,832)		(19,316)
Recoveries		635		1,264	4,656		4,039
Reversal of allowance for credit losses	[2]	(12,253)			(12,253)
Balance at end of period		0		10,952	0		10,952
Finance Receivables \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		12,189		5,088	16,265		1,960
Impact of adoption of ASU 2016-13		0			(562)
Provision for credit losses		1,588	[1]	9,132	12,713	[1]	19,747
Charge-offs		(3,041)		(7,077)	(21,337)		(17,266)
Recoveries		553		1,240	4,210		3,942
Reversal of allowance for credit losses	[2]	(11,289)			(11,289)
Balance at end of period		0		8,383	0		8,383
Finance Receivables \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		1,068		2,003	1,131		989
Impact of adoption of ASU 2016-13		0			772
Provision for credit losses		183	[1]	1,598	2,110	[1]	3,533
Charge-offs		(369)		(1,056)	(3,495)		(2,050)
Recoveries		82		24	446		97
Reversal of allowance for credit losses	[2]	(964)			(964)
Balance at end of period		$ 0		$ 2,569	$ 0		$ 2,569

[1] Provision for credit losses and reversal of allowance for credit losses is presented net as "Provision for credit losses" in the Condensed Consolidated Statements of Income (Loss). Amounts shown represents charge-off through October 31, 2023. Since November 1, 2023 charge-offs are included in "Fair value and other adjustment, net" in the Condensed Consolidated Statements of Income (Loss).

Finance Receivables - Table Sho

Finance Receivables - Table Shows Activity By Origination Year (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Gross Charge-offs	$ 3,410	$ 24,832
Gross Recoveries	635	4,656
Net Charge-offs	2,775	20,176
Contract Portfolio
Gross Charge-offs	3,041	21,337
Gross Recoveries	553	4,210
Net Charge-offs	2,488	17,127
Direct Loan Portfolio
Gross Charge-offs	369	3,495
Gross Recoveries	82	446
Net Charge-offs	287	3,049
2024
Gross Charge-offs	88	113
Gross Recoveries	0	0
Net Charge-offs	88	113
2024 \| Contract Portfolio
Gross Charge-offs	88	113
Gross Recoveries	0	0
Net Charge-offs	88	113
2024 \| Direct Loan Portfolio
Gross Charge-offs	0	0
Gross Recoveries	0	0
Net Charge-offs	0	0
2023
Gross Charge-offs	1,256	10,061
Gross Recoveries	138	1,122
Net Charge-offs	1,118	8,939
2023 \| Contract Portfolio
Gross Charge-offs	1,072	7,950
Gross Recoveries	100	907
Net Charge-offs	972	7,043
2023 \| Direct Loan Portfolio
Gross Charge-offs	184	2,111
Gross Recoveries	38	215
Net Charge-offs	146	1,896
2022
Gross Charge-offs	1,294	9,448
Gross Recoveries	216	1,496
Net Charge-offs	1,078	7,952
2022 \| Contract Portfolio
Gross Charge-offs	1,124	8,127
Gross Recoveries	185	1,320
Net Charge-offs	939	6,807
2022 \| Direct Loan Portfolio
Gross Charge-offs	170	1,321
Gross Recoveries	31	176
Net Charge-offs	139	1,145
2021
Gross Charge-offs	363	2,776
Gross Recoveries	109	547
Net Charge-offs	254	2,229
2021 \| Contract Portfolio
Gross Charge-offs	350	2,722
Gross Recoveries	102	521
Net Charge-offs	248	2,201
2021 \| Direct Loan Portfolio
Gross Charge-offs	13	54
Gross Recoveries	7	26
Net Charge-offs	6	28
2020
Gross Charge-offs	215	1,209
Gross Recoveries	42	506
Net Charge-offs	173	703
2020 \| Contract Portfolio
Gross Charge-offs	214	1,201
Gross Recoveries	38	489
Net Charge-offs	176	712
2020 \| Direct Loan Portfolio
Gross Charge-offs	1	8
Gross Recoveries	4	17
Net Charge-offs	(3)	(9)
Prior
Gross Charge-offs	194	1,225
Gross Recoveries	130	985
Net Charge-offs	64	240
Prior \| Contract Portfolio
Gross Charge-offs	193	1,224
Gross Recoveries	128	973
Net Charge-offs	65	251
Prior \| Direct Loan Portfolio
Gross Charge-offs	1	1
Gross Recoveries	2	12
Net Charge-offs	$ (1)	$ (11)

Finance Receivables - Assessmen

Finance Receivables - Assessment of credit quality by creditworthiness (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	$ 0	$ 127,482
Finance receivables	0	128,170
Chapter 13 bankruptcy \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	0	688
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	8,319
Direct Loans \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	18,654
Finance receivables	0	18,752
Direct Loans \| Chapter 13 bankruptcy \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	0	98
Performing accounts \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	118,782
Performing accounts \| Direct Loans \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	16,926
Non-performing accounts \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	8,700
Non-performing accounts \| Direct Loans \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	1,728
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	62,664
Contract Portfolio \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	108,828
Finance receivables	0	109,418
Contract Portfolio \| Chapter 13 bankruptcy \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Finance receivables	0	590
Contract Portfolio \| Performing accounts \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	0	101,856
Contract Portfolio \| Non-performing accounts \| Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Total	$ 0	$ 6,972

Finance Receivables (Detail Tex

Finance Receivables (Detail Textuals 1) - USD ($) $ in Millions		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Maximum criteria for receivable to be a performing account		61 days
Finance receivablesheld for sale valuation allowance	$ 19.5
Percentage of more than payment contractually for delinquent		10%
Minimum criteria for receivable to be a non-performing account		61 days
Minimum
Accounts Notes And Loans Receivable [Line Items]
Criteria for receivable to be delinquent account		121 days

Finance Receivables - Informati

Finance Receivables - Information regarding delinquency rates with respect to contracts and direct loans (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 8,319
Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	62,664
Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	0	$ 127,482
Finance Receivables \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	0	18,654
Total	$ 1,561	$ 3,176
Total (in percentage)	18.76%	17.03%
Finance Receivables \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Balance Outstanding	$ 0	$ 108,828
Total	$ 11,484	$ 17,055
Total (in percentage)	18.33%	15.67%
Finance Receivables \| 30 - 59 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 1,050	$ 1,448
Total (in percentage)	12.62%	7.76%
Finance Receivables \| 30 - 59 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 7,741	$ 10,083
Total (in percentage)	12.35%	9.27%
Finance Receivables \| 60 - 89 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 310	$ 654
Total (in percentage)	3.73%	3.51%
Finance Receivables \| 60 - 89 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 2,390	$ 3,274
Total (in percentage)	3.81%	3.01%
Finance Receivables \| 90 - 119 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total	$ 201	$ 1,074
Total (in percentage)	2.42%	5.76%
Finance Receivables \| 90 - 119 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total	$ 1,353	$ 3,698
Total (in percentage)	2.16%	3.40%
Finance Receivables \| Over 120 days \| Direct Loans
Accounts Notes And Loans Receivable [Line Items]
Total (in percentage)	0%	0%
Finance Receivables \| Over 120 days \| Contract Portfolio
Accounts Notes And Loans Receivable [Line Items]
Total (in percentage)	0%	0%

Credit Facility (Detail Textual

Credit Facility (Detail Textuals) $ in Millions	Dec. 31, 2023 USD ($)
Westlake Credit Facility
Line Of Credit Facility [Line Items]
Aggregate outstanding indebtedness	$ 28.9

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
Income Taxes (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Income Tax Disclosure [Line items]
Income tax expense (benefit)	$ 0	$ 3,000		$ 0	$ 1,415
Increase (decrease) in effective tax rate	0%	29.10%	0%		(8.40%)
Unrecognized tax benefits				0
Valuation allowance for deferred tax assets	$ 14,001			$ 14,001		$ 9,457
State [Member]
Income Tax Disclosure [Line items]
Operating loss carryforwards, expiration date				Mar. 31, 2039
Operating loss carryforwards	57,300			$ 57,300
Federal [Member]
Income Tax Disclosure [Line items]
Operating loss carryforwards, limitations on use				indefinitely
Operating loss carryforwards	$ 36,200			$ 36,200

Income Taxes - Significant comp

Income Taxes - Significant components of the company's deferred tax assets (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Deferred Tax Assets
Valuation allowances on finance receivables	$ 4,777	$ 4,538
Share-based compensation	30	20
Federal and state net operating loss carryforwards	9,196	4,812
Right of use liability	33	43
Other items	29	87
Valuation allowance	(14,001)	(9,457)
Total deferred tax assets	64	43
Deferred tax liabilities
Right of use asset	33	43
Other items	31	0
Total deferred tax liabilities	64	43
Deferred income taxes	$ 0	$ 0

Leases (Detail Textuals)

Leases (Detail Textuals) - USD ($) $ in Thousands	9 Months Ended
Leases (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Lessee Lease Description [Line Items]
Operating lease, liability	$ 139	$ 200
Operating lease, right-of-use asset	$ 100	$ 200
Branch network lease agreement
Lessee Lease Description [Line Items]
Operating lease rent expense description	The Company’s central business operations hub is located in Rock Hill, South Carolina.
LesseeOperatingLeasestartingPeriod	Mar. 20, 2023
Corporate headquarters lease agreement
Lessee Lease Description [Line Items]
Lease Expiration Date	Jan. 31, 2026
Operating lease rent expense description	The Company’s headquarters is located in Clearwater, Florida.
LesseeOperatingLeasestartingPeriod	Feb. 01, 2023

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments under Non-cancellable Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Leases [Abstract]
FY2024 (remaining nine months)	$ 17
FY2025	69
FY2026	62
Total future minimum lease payments	148
Present value adjustment	(9)
Operating lease liabilities	$ 139	$ 200

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease cost:
Operating lease cost	$ 16	$ 435	$ 32	$ 893
Variable lease cost	1	92	2	187
Total lease cost	$ 17	$ 527	$ 34	$ 1,080

Leases - Schedule of Other Leas

Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Other Lease Information
Operating Lease - Operating Cash Flows (Fixed Payments)	$ 16	$ 457	$ 33	$ 902
Operating Lease - Operating Cash Flows (Liability Reduction)	$ 14	$ 369	$ 28	$ 748
Weighted Average Lease Term - Operating Leases	2 years 4 months 24 days	3 years 10 months 24 days	2 years 4 months 24 days	3 years 10 months 24 days
Weighted Average Discount Rate - Operating Leases	6.50%	6.50%	6.50%	6.50%

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of financial instruments not measured at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility		$ 29,100
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 1,219	454
Cash equivalents	6,598	0
Finance receivables	50,306	106,919
Repossessed assets	395	1,491
Credit Facility	0	29,100
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	1,219	454
Cash equivalents	6,598	0
Finance receivables	50,306	105,971
Repossessed assets	395	1,491
Credit Facility	0
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	1,219	454
Cash equivalents	6,598	0
Finance receivables	0	0
Repossessed assets	0	0
Credit Facility	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Cash equivalents	0	0
Finance receivables	0	0
Repossessed assets	0	0
Credit Facility	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Cash equivalents	0	0
Finance receivables	50,306	105,971
Repossessed assets	395	1,491
Credit Facility	$ 0	$ 29,100

Fair Value Disclosures - Schedu

Fair Value Disclosures - Schedule of fair value measurement inputs and valuation techniques (Details) - USD ($) $ in Thousands		9 Months Ended
		Dec. 31, 2023	Mar. 31, 2023
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables held for sale		$ 50,306	$ 105,971
Repossessed assets held for sale		395	1,491
Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables held for sale		50,306	105,971
Repossessed assets held for sale		$ 395	$ 1,491
Finance Receivables \| Discounted Cash Flow \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Discount Rate	[1]	17.30%
Finance Receivables \| Discounted Cash Flow \| Level 3 \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount Rate		17.60%
Finance Receivables \| Discounted Cash Flow \| Level 3 \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount Rate		16.40%
Finance Receivables \| Fair Value \| Discounted Cash Flow \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables held for sale		$ 50,306
Repossessed Assets \| Discounted Cash Flow \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average Discount Rate	[1]	17.30%
Repossessed Assets \| Discounted Cash Flow \| Level 3 \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount Rate		17.60%
Repossessed Assets \| Discounted Cash Flow \| Level 3 \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount Rate		16.40%
Repossessed Assets \| Fair Value \| Discounted Cash Flow \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Repossessed assets held for sale		$ 395

[1] (1) Weighted averages are determined by the relative fair value of the instruments or the relative contribution to the instruments fair value.

Commitments and Contingencies (

Commitments and Contingencies (Additional Information) (Details) - USD ($)	Nov. 13, 2023	Dec. 22, 2021
Secured Loan default judgment		$ 7,984,180
Maximum [Member]
Available Limits Under Policy	$ 750,000,000

Stock Plans (Detail Textuals)

Stock Plans (Detail Textuals) - USD ($) $ in Millions	Aug. 31, 2019	May 31, 2019
New Stock Repurchase Program \| Common Stock
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 1	$ 8

Stock Plans - Summary of Treasu

Stock Plans - Summary of Treasury Share Transactions Under the Company's Stock Repurchase Program (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Treasury shares at the beginning of period, Number of Shares			5,368
Treasury shares at the end of period, Number of Shares	5,368		5,368
Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Treasury shares at the beginning of period, Number of Shares	5,368	5,349	5,368	5,127
Treasury shares purchased, Number of Shares	0	19	0	241
Treasury shares at the end of period, Number of Shares	5,368	5,368	5,368	5,368
Treasury shares at the beginning of period, Amount	$ (76,794)	$ (76,684)	$ (76,794)	$ (74,405)
Treasury shares purchased, Amount	0	(110)	0	(2,389)
Treasury shares at the end of period, Amount	$ (76,794)	$ (76,794)	$ (76,794)	$ (76,794)

Restructuring Activities - Sche

Restructuring Activities - Schedule of costs related to the restructuring plan (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
Total Expected Costs [Member]
Restructuring Cost and Reserve [Line Items]
Branch Closures	$ 3,213
Severance	570
Cease-use of contractual obligations	1,034
Professional fees	903
Other	26
Total restructuring cost	5,746
Total Cost Incurred to Date [Member]
Restructuring Cost and Reserve [Line Items]
Branch Closures	3,207
Severance	570
Cease-use of contractual obligations	1,034
Professional fees	744
Other	12
Total restructuring cost	5,567
Total Remaining (Underestimated) Costs [Member]
Restructuring Cost and Reserve [Line Items]
Branch Closures	6
Severance	0
Cease-use of contractual obligations	0
Professional fees	159
Other	14
Total restructuring cost	$ 179