Company: ATLCL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-033947
Chunk: 152

Company: Atlanticus Holdings Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 152
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 —   —   29,543   (354)  29,189   —   — 
 Balance at September 30, 2024   3,300,704  $—   14,738,862  $—  $89,386  $368,337  $(3,261) $454,462  $40,000  $74,975 

See accompanying notes.

       4

Atlanticus Holdings Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

      For the Nine Months Ended September 30,  
   2025    2024  
 Operating activities         
 Net income  $86,000  $79,135 
 Adjustments to reconcile net income to net cash provided by operating activities:         
 Depreciation, amortization and accretion, net   5,777   3,785 
 Provision for credit losses   3,999   9,323 
 Deferred income tax expense   27,218   19,590 
 Income from accretion of discount associated with Loans at amortized cost, net   (20,246)  (18,897)
 Income from merchant fees associated with Loans at fair value   (150,733)  (112,970)
 Changes in fair value of loans   671,973   549,161 
 Change in bank partner fees carried at fair value   3,825   — 
 Amortization of debt issuance costs   13,537   8,491 
 Stock-based compensation costs   2,738   2,969 
 Changes in assets and liabilities:         
 Decrease in lease liability   (2,278)  (2,253)
 Increase in uncollected fees on earning assets   (266,552)  (186,886)
 Increase (decrease) in income tax liability   (424)  (202)
 Increase (decrease) in accounts payable and accrued expenses   9,276   (1,026)
 Other   (12,398)  (3,417)
 Net cash provided by operating activities   371,712   346,803 
         
 Investing activities         
 Proceeds from recoveries on charged off receiv