CONSUMER PORTFOLIO SERVICES (CPSS) Company Report

For the three months ended September 30, 2025, Consumer Portfolio Services, Inc. (CPSS) reported total revenues of $108.5 million, net income of $4.8 million, and diluted EPS of $0.20. The company's managed portfolio reached $3.89 billion as of September 30, 2025.
As of September 30, 2025, the total portfolio was $3,760.3 million, with annualized net charge-offs at 8.01% of the total owned portfolio and total delinquencies (30+ days past due) at 13.96%. The weighted average APR in originations increased to 19.89% in September 2025.
CPSS has achieved 56 consecutive profitable quarters and specializes in sub-prime automobile contracts, utilizing AI-driven origination scorecards to improve efficiency and customer satisfaction.

Nov 19, 2025, 7:58 PM

8-K

Consumer Portfolio Services Reports Increased Q3 2025 Revenue and Portfolio Growth Amidst Improving Credit Quality

CPSS

Earnings

Revenue Acceleration/Inflection

Demand Weakening

Consumer Portfolio Services reported Q3 2025 revenues of $108.4 million, an 8% increase from Q3 2024, with net income up 2% to $4.9 million and diluted EPS flat at $0.20. For the nine months ending September 2025, revenues grew 13% to $325.1 million.
The fair value portfolio increased 16% to $3.62 billion in Q3 2025, driven by $391.1 million in originations for the quarter and $1.275 billion year-to-date. Core operating expenses decreased 4% to $43 million in Q3 2025, representing 4.6% of the managed portfolio, down from 5.4% in Q3 2024.
The company is seeing improved credit performance from 2024 and 2025 vintages due to credit tightening, with delinquencies (DQ > 30 days) slightly improving to 13.96% in Q3 2025. Recoveries for the 2025 vintage were 42%, significantly higher than older vintages, and are expected to increase as troubled 2022 and 2023 vintages (now below 30% of the portfolio) run off.
Despite modest growth due to a tightened credit box, lower dealer foot traffic, and increased competition, 2025 is projected to be the company's second-best year for originations. CPSS successfully completed a securitization and secured a new credit line, emphasizing its use of third-party custodians in light of industry issues.

Nov 11, 2025, 6:00 PM

Transcript

Consumer Portfolio Services, Inc. Announces Third Quarter 2025 Earnings

CPSS

Earnings

Revenue Acceleration/Inflection

Net income for Q3 2025 was $4.9 million, or $0.20 per diluted share, consistent with the prior year period.
Revenues for Q3 2025 increased by 7.8% to $108.4 million compared to Q3 2024.
New contract purchases in Q3 2025 totaled $391.1 million, contributing to total receivables of $3.760 billion as of September 30, 2025.
Annualized net charge-offs for Q3 2025 increased to 8.01% of the average portfolio, up from 7.32% in Q3 2024, while delinquencies greater than 30 days slightly decreased to 13.96%.

Nov 10, 2025, 10:19 PM

8-K

CPSS Announces Third Quarter 2025 Earnings

CPSS

Earnings

Revenue Acceleration/Inflection

Consumer Portfolio Services, Inc. (CPSS) reported net income of $4.9 million, or $0.20 per diluted share, for the third quarter ended September 30, 2025, compared to $4.8 million, or $0.20 per diluted share, in the prior year period.
Revenues for Q3 2025 increased by 7.8% to $108.4 million from $100.6 million in Q3 2024, contributing to $325.1 million in total revenues for the nine months ended September 30, 2025, up 12.8% from the same period in 2024.
New contract purchases for Q3 2025 were $391.1 million , and for the nine months ended September 30, 2025, they totaled $1.275 billion, an increase from $1.224 billion in the first nine months of 2024.
Annualized net charge-offs for Q3 2025 were 8.01% of the average portfolio, an increase from 7.32% in Q3 2024, while delinquencies greater than 30 days slightly decreased to 13.96% as of September 30, 2025, from 14.04% a year prior.

Nov 10, 2025, 9:15 PM

Press Release

Consumer Portfolio Services Announces $384.6 Million Asset-Backed Securitization

CPSS

Debt Issuance

New Projects/Investments

Consumer Portfolio Services, Inc. (CPSS) completed its fourth term securitization in 2025 on October 23, 2025, issuing $384.6 million in asset-backed notes.
The notes are secured by $392.46 million in automobile receivables and carry a weighted average coupon of approximately 5.72%.
This transaction marks CPSS's 57th senior subordinate securitization since 2011 and the 40th consecutive to receive a triple "A" rating on the senior class of notes from at least two rating agencies.
Initial credit enhancement for the notes includes a 1.00% cash deposit and 2.00% overcollateralization.

Oct 24, 2025, 8:58 PM

8-K

Consumer Portfolio Services Highlights Growth, AI Integration, and Financial Strength

CPSS

Revenue Acceleration/Inflection

New Projects/Investments

Profit Warning

Consumer Portfolio Services (CPSS) has achieved 55 straight profitable quarters since 2014 and reached an all-time record of $3.9 billion in assets under management (AUM). The company is growing its portfolio at a 17% year-over-year clip and expects revenues to exceed $400 million for the first time in 2025, up from $363 million in 2024 and $266 million in 2021.
CPSS leverages advanced technology and AI across its operations, including a proprietary credit algorithm, AI agents for welcome calls, and AI-driven collection strategies for its 250,000 active accounts. This has helped drive operating expenses (OpEx) down from 6% to below 5%, increasing net yield by 100 basis points.
Despite current profitability being impacted by high interest expenses, CPSS expects its net yield to improve to over 3% by the end of 2025, up from 1.2% in 2024, due to reduced OpEx and better portfolio performance. The company's shareholder equity has reached an all-time high of over $300 million.
CPSS possesses a significant "hidden asset" of $400 million in cash from residuals of its 16 outstanding ABS transactions, which translates to approximately $16-$17 per share in liquidity value. This is notable given the company's current stock trading price of $7.25 and book value of $13.50.

Sep 3, 2025, 9:50 PM

CPSS Reports Record AUM and Revenue, Emphasizes AI and Strong Financial Position

CPSS

Revenue Acceleration/Inflection

New Projects/Investments

Demand Weakening

Consumer Portfolio Services (CPSS) is the longest-running subprime auto finance company, operating for 34 years and maintaining 55 straight profitable quarters.
The company's assets under management (AUM) reached an all-time record of $3.9 billion, with the portfolio growing at a 17% clip year over year.
CPSS is projected to achieve over $400 million in revenue for the first time in its history in 2025, an increase from $363 million in 2024 and $266 million in 2021.
Operating expenses (OPEX) have been reduced to below 5% for the first time, largely due to the expanded use of AI in operations, which has also contributed to a 100 basis point increase in net yield.
Shareholder equity has reached an all-time high of over $300 million, and the company possesses $400 million in credit enhancement (residuals) from ABS transactions, equating to approximately $16 to $17 per share in liquidity value.

Sep 3, 2025, 8:30 PM

Transcript

Consumer Portfolio Services (CPSS) Highlights Record AUM and Revenue Growth, Driven by AI Efficiencies

CPSS

Revenue Acceleration/Inflection

New Projects/Investments

Demand Weakening

Consumer Portfolio Services (CPSS) has maintained 55 consecutive profitable quarters and achieved a record $3.9 billion in assets under management (AUM).
The company anticipates revenues to exceed $400 million for the first time in its history in the current year (2025), an increase from $363 million last year (2024) and $266 million in 2021.
CPSS has significantly reduced operating expenses (OpEx) from 6% to below 5% for the first time, largely due to the integration of AI across its operations, and expects its net yield to improve from 1.2% in 2024 to over 3% by the end of 2025.
Shareholder equity has reached an all-time high of over $300 million, and the company possesses a "hidden asset" of $400 million in cash from asset-backed security (ABS) residuals, representing approximately $16-$17 per share in liquidity value.
Due to macroeconomic headwinds and high interest rates, CPSS has strategically adjusted its origination growth target for 2025 from an initial 30-40% to 5-10% year-over-year, aiming for approximately $1.75 billion in originations.

Sep 3, 2025, 8:30 PM

Transcript

Consumer Portfolio Services Reports Mixed Q4 and Full-Year 2024 Results Amid Strong Origination Growth

CPSS

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Revenues for Q4 2024 increased 14% to $105.3 million and full-year 2024 revenues grew 12% to $393.5 million, driven by strong loan originations.
Net income for Q4 2024 was $5.1 million (diluted EPS of $0.21), down from $7.2 million (diluted EPS of $0.29) in Q4 2023, while full-year 2024 net income was $19.2 million (diluted EPS of $0.79), significantly lower than $45.3 million (diluted EPS of $1.80) in 2023.
Loan originations for Q4 2024 surged 52% to $458 million, contributing to a 24% increase in full-year originations to $1.68 billion. The fair value portfolio grew 22% to $3.314 billion by year-end 2024.
Credit performance showed mixed trends with annual net charge-offs at 8.02% for Q4 2024, up from 7.74% in Q4 2023, and delinquencies (DQ > 30 days) at 14.85% compared to 14.55% at the end of 2023. However, 2024 loan vintages are performing significantly better, and the company expects improvement as older, weaker vintages (2022/2023) roll off.
The company is focused on future growth in 2025, supported by strong capital markets and favorable unemployment rates, and is leveraging AI for fraud detection (saving $4.6 million in 2024) and collections to improve efficiency and credit performance.

Feb 26, 2025, 6:00 PM

Transcript

CPSS Reports Strong Revenue and Origination Growth in Q4 and FY 2024 Amidst Declining Profitability

CPSS

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Consumer Portfolio Services reported a 14% increase in Q4 2024 revenues to $105.3 million and a 52% increase in loan originations to $458 million compared to Q4 2023. For the full year 2024, revenues grew 12% to $393.5 million and loan originations increased 24% to $1.68 billion.
Despite top-line growth, Q4 2024 pre-tax earnings decreased 24% to $7.4 million, with diluted earnings per share at $0.21, primarily due to higher expenses, including interest expense and loan provisions. Full-year 2024 net income was $19.2 million, down from $45.3 million in 2023.
The company highlighted improved credit performance for its 2024 loan vintages and anticipates further improvements as these vintages mature. Strategic investments in 2024 included hiring 42 new sales representatives and implementing AI-driven fraud scores, which saved $4.6 million. Management also noted a favorable unemployment rate of 4.4%, projected to remain stable through 2026.