Form 8-K

8-K — CONSUMER PORTFOLIO SERVICES, INC.

Accession: 0001683168-26-003502

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0000889609

SIC: 6199 (FINANCE SERVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — cps_8k.htm (Primary)

EX-99.1 — PRESS RELEASE (cps_ex9901.htm)

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8-K — CURRENT REPORT

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CONSUMER PORTFOLIO SERVICES, INC. 8-K

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0000889609

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

May 5, 2026

CONSUMER PORTFOLIO SERVICES, INC.

(Exact Name of Registrant as Specified in Charter)

california

1-11416

33-0459135

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

3800 Howard Hughes Pkwy, Suite 1400, Las Vegas, NV 89169

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code

(949) 753-6800

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.

below):

☐ Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, no par value

CPSS

The Nasdaq Stock Market LLC (Global Market)

Indicate by check mark whether the registrant is an emerging growth

company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange

Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant

has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant

to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 5, 2026, the registrant announced its earnings for the three-month

period ended March 31, 2026. A copy of the announcement is attached as an exhibit to this report. As noted in the announcement, the registrant

will hold a conference call on May 6, 2026 at 1:00 p.m. ET to discuss its first quarter 2026 operating results. Those wishing

to join the conference call can dial-in at (800) 715-9871 and enter passcode 8293043.

Item 9.01. Financial Statements and Exhibits.

Neither financial statements nor pro forma

financial information are filed with this report.

(d) Exhibits

One exhibit is included with this report:

99.1

News release re earnings.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange

Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CONSUMER PORTFOLIO SERVICES, INC.

Dated: May 5, 2026

By: /s/ Denesh

Bharwani

Denesh Bharwani

Executive Vice President and Chief Financial Officer

Signing on behalf of the registrant

EX-99.1 — PRESS RELEASE

EX-99.1

Filename: cps_ex9901.htm · Sequence: 2

Exhibit 99.1

NEWS

RELEASE

CPS ANNOUNCES

FIRST QUARTER 2026 EARNINGS

§ Revenues

of $112.3 million compared to $106.9 million in the prior year period

§ Net

income of $5.5 million for the first quarter of 2026, an 18% increase from prior year

§ Total

portfolio balance of $3.942 billion, highest in company history

§ New

contract purchases of $533.2 million in the first quarter, an 18% increase from the prior

year first quarter

LAS VEGAS, NV,

May 5, 2026 (GlobeNewswire) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”)

today announced earnings of $5.5 million, or $0.24 per diluted share for its first quarter ended March 31, 2026. This represents an 18%

increase in net income compared to $4.7 million in the first quarter of 2025. Earnings per diluted share increased by 26% compared to

$0.19 in the first quarter of 2025.

Revenues for the

first quarter of 2026 were $112.3 million, an increase of $5.5 million, or 5.1%, compared to $106.9 million for the first quarter of

2025. Total operating expenses for the first quarter of 2026 were $104.3 million compared to $100.1 million for the 2025 period. Pretax

income for the first quarter of 2026 was $8.0 million compared to pretax income of $6.8 million, an increase of $1.2 million or 18% from

the first quarter of 2025.

During the first

quarter of 2026, CPS purchased $533.2 million of new contracts. This stands as a 47% increase over the $363.0 million purchased during

the fourth quarter of 2025, and an 18% increase over the $451.2 million purchased during the first quarter of 2025. The Company's receivables

totaled $3.942 billion as of March 31, 2026, an increase from $3.779 billion as of December 31, 2025, and an increase from $3.615 billion

as of March 31, 2025.

Delinquencies greater

than 30 days (including repossession inventory) decreased to 11.58% of the total portfolio as of March 31, 2026, compared to 12.35% as

of March 31, 2025. Annualized net charge-offs for the first quarter of 2026 were 8.57% of the average portfolio as compared to 7.54%

for the first quarter of 2025.

“The first

quarter marks a strong start to the year as we saw growth in origination volumes, revenue and net income over the prior quarters,”

said Charles E. Bradley, Chief Executive Officer. “We continue to stay focused on margin expansion and credit performance, as our

portfolio grows to new highs.”

Conference

Call

CPS announced that

it will hold a conference call on May 6, 2026 at 1:00 p.m. ET to discuss its first quarter 2026 operating results.

Those wishing to

join the conference call can dial-in at (800) 715-9871 and enter passcode 8293043. To avoid delays, we encourage participants to dial

into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion

of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

About Consumer

Portfolio Services, Inc.

Consumer Portfolio

Services, Inc. is an independent specialty finance company that provides indirect

automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts

primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these

contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

Forward-looking

statements in this news release include the Company's recorded figures representing allowances for remaining expected lifetime credit

losses, its estimates of fair value (most significantly for its receivables accounted for at fair value), its provision for credit losses,

its entries offsetting the preceding, and figures derived from any of the preceding. In each case, such figures are forward-looking statements

because they are dependent on the Company’s estimates of losses to be incurred in the future. The accuracy of such estimates may

be adversely affected by various factors, which include the following: possible increased delinquencies; repossessions and losses on

retail installment contracts; incorrect prepayment speed and/or discount rate assumptions; possible unavailability of qualified personnel,

which could adversely affect the Company’s ability to service its portfolio; possible increases in the rate of consumer bankruptcy

filings, which could adversely affect the Company’s rights to collect payments from its portfolio; other changes in government

regulations affecting consumer credit; possible declines in the market price for used vehicles, which could adversely affect the Company’s

realization upon repossessed vehicles; and economic conditions in geographic areas in which the Company's business is concentrated. Any

or all of such factors also may affect the Company’s future financial results, as to which there can be no assurance. Any implication

that the results of the most recently completed quarter are indicative of future results is disclaimed, and the reader should draw no

such inference. Factors such as those identified above in relation to losses to be incurred in the future may affect future performance.

Investor Relations Contact

Danny Bharwani, Chief Financial Officer

949-753-6811

Consumer

Portfolio Services, Inc. and Subsidiaries

Condensed

Consolidated Statements of Operations

(In

thousands, except per share data)

(Unaudited)

Three months ended

March 31,

2026

2025

Revenues:

Interest income

$ 108,721

$ 101,933

Mark to finance receivables measured at fair value

–

3,500

Other income

3,613

1,441

112,334

106,874

Expenses:

Employee costs

23,046

25,033

General and administrative

12,908

12,563

Interest

60,061

54,918

Other expenses

8,291

7,558

104,306

100,072

Income before income taxes

8,028

6,802

Income tax expense

2,489

2,108

Net income

$ 5,539

$ 4,694

Earnings per share:

Basic

$ 0.25

$ 0.22

Diluted

$ 0.24

$ 0.19

Number of shares used in computing earnings per

Basic

21,777

21,444

Diluted

23,534

24,325

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

March 31,

December 31,

2026

2025

Assets:

Cash and cash equivalents

$ 6,944

$ 6,322

Restricted cash and equivalents

178,469

165,885

Finance receivables measured at fair value

3,835,789

3,655,855

Other assets

31,597

30,131

$ 4,052,799

$ 3,858,193

Liabilities and Shareholders' Equity:

Accounts payable and accrued expenses

$ 70,261

$ 65,244

Warehouse lines of credit

467,138

324,871

Residual interest financing

181,383

142,982

Securitization trust debt

2,992,157

2,986,574

Subordinated renewable notes

27,508

28,986

3,738,447

3,548,657

Shareholders' equity

314,352

309,536

$ 4,052,799

$ 3,858,193

Operating and

Performance Data ($ in millions)

At and for the

Three months ended

March 31,

2026

2025

Contracts purchased

$ 533.22

$ 451.22

Contracts securitized

$ 352.66

$ 462.54

Total portfolio balance (1)

$ 3,942.22

$ 3,614.55

Average portfolio balance (1)

$ 3,853.75

$ 3,572.64

Delinquencies (1)

31+ Days

8.95%

9.75%

Repossession Inventory

2.63%

2.60%

Total Delinquencies and Repo. Inventory

11.58%

12.35%

Annualized Net Charge-offs as % of Average Portfolio (1)

8.57%

7.54%

Recovery rates (1), (2)

31.1%

27.7%

For the

Three months ended

March 31,

2026

2025

$(3)

%(4)

$(3)

%(4)

Interest income

$ 108.72

11.3%

$ 101.93

11.4%

Interest expense

(60.06 )

-6.2%

(54.92 )

-6.1%

Net interest margin

48.66

5.1%

47.02

5.3%

Mark to finance receivables measured at fair value

–

0.0%

3.50

0.4%

Other income

3.61

0.4%

1.44

0.2%

Operating expenses (5)

(44.25 )

-4.6%

(45.15 )

-5.1%

Pre-tax income

$ 8.03

0.8%

$ 6.80

0.8%

(1) Excludes

third party portfolios.

(2) Wholesale auction liquidation amounts (net of expenses)

as a percentage of the account balance at the time of sale.

(3) Numbers

may not add due to rounding.

(4) Annualized

percentage of the average portfolio balance. Percentages may not add due to rounding.

(5) Total

pre-tax expenses less interest expense.

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