Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 39

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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31, 2025, compared to $24.4 million for the same quarter in the prior year, an increase of $617,000,
or 2.5%. The table below summarizes our employees by category as well as contract purchases and units in our managed portfolio as of,
and for the three-month periods ended, March 31, 2025, and 2024:

    Three Months Ended March 31, 

    2025  
    2024 

    (Dollars in millions) 
  
    Contracts purchased (dollars) 
    $451.2  
    $346.3 
  
    Contracts purchased (units) 
     20,707  
     16,414 
  
    Managed portfolio outstanding (dollars) 
    $3,614.6  
    $3,021.2 
  
    Managed portfolio outstanding (units) 
     207,123  
     181,650 

    Number of Originations staff 
     200  
     191 
  
    Number of Sales staff 
     120  
     101 
  
    Number of Servicing staff 
     559  
     427 
  
    Number of other staff 
     64  
     183 
  
    Total number of employees 
     943  
     902 

General and administrative expenses
include costs associated with purchasing and servicing our portfolio of finance receivables, including expenses for facilities, credit
services, and telecommunications. General and administrative expenses was $13.5 million, a decrease of $211,000 from $13.8 million in
the prior year period.

Interest expense for the three
months ended March 31, 2025, was $54.9 million and represented 54.9% of total operating expenses, compared to $42.0 million in the previous
year, when it was 49.3% of total operating expenses. The $12.9 million increase in interest expense compared to the same three month period
in the prior year was largely due to the volume, and to a lesser extent, due to the rate.

Interest on securitization trust
debt increased by $9.1 million for the three months ended March 31, 2025, compared to the prior period. The average balance of securitization
trust debt increased to $2,861.9 million for the three months ended March 31