Company: ATLCL
Filing Date: 2025-03-31
Form Type: 10-K/A
Source: 0001437749-25-009919
Chunk: 9

Company: Atlanticus Holdings Corp
Filing Date: 2025-03-31
Form: 10-K/A
Chunk 9
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1,190 |   |     |      |       891 |   |     |                   |                   299 |
| Net income attributable to controlling interests                        |     | $    |                         111,296 |   |     | $    |   102,845 |   |     | $                 |                 8,451 |
| Net income attributable to controlling interests to common shareholders |     | $    |                          87,368 |   |     | $    |    77,647 |   |     | $                 |                 9,721 |

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Total operating revenue and other income. Total operating revenue and other income consists of: 1) interest income, finance charges and late fees on consumer loans, 2) other fees on credit products including annual and merchant fees and 3) interchange and servicing income on loan portfolios and other customer related fees.

Period-over-period results primarily relate to growth in private label credit and general purpose credit card products, the receivables of which increased to $2,724.8 million as of December 31, 2024, from $2,411.3 million as of December 31, 2023. We experienced growth in total operating revenues for both our general purpose credit card and our private label credit receivables for the year ended December 31, 2024, when compared to the same period in 2023. These increases were primarily due to consistent quarterly growth in both new credit card customers serviced and seasonally driven growth with private label credit receivables and corresponding merchant fees. Growth also reflected increased fee and finance pricing requirements for all new receivable acquisitions in response to increased costs of capital used to finance these receivable acquisitions. Additionally , growth within our private label credit receivables for the second and third quarters of 2024 was largely due to continued growth associated with our largest existing retail partners, growth which typically increases late in the second quarter and into the third quarter of each year based on our retail partners' seasonal sale cycles. This seasonal growth in private label credit receivables was at its highest in the third quarter of 2024 when we increased receivable purchases by $152.3 million when compared to the third quarter of 2023.

The relative mix of receivable acquisitions can lead to some variation in our corresponding revenue as general purpose credit card receivables typically generate higher gross yields than private label credit receiv