Company: ATLCL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015559
Chunk: 214

Company: Atlanticus Holdings Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 214
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, 2024. While payment rates for our consumers stayed consistent period over period, we experienced an increase in cash provided by operating activities principally related to finance and fee collections associated with growing private label credit and general purpose credit card receivables and increased recoveries on charged-off receivables. Most of this change was due to growth in the underlying receivables (and collections thereon) along with the implementation of product, policy and pricing changes, which effectively increased the minimum payment amounts required by consumers. 

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      During the three months ended March 31, 2025, we used $114.9 million of cash from our investing activities, compared to use of $67.5 million of cash from investing activities during the three months ended March 31, 2024. This increase in cash used is primarily due to marginal increases in the level of net investments in private label credit and general purpose credit card receivables relative to the same period in 2023. For the three months ended March 31, 2025, we purchased $621 million in private label and general purpose credit card receivables compared to $560 million for the three months ended March 31, 2024. As we continue to grow our receivables base, we would expect for purchases of new receivables to outpace payments thereon throughout 2025. 

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      During the three months ended March 31, 2025, we used $54.9 million of cash from financing activities, compared to our generating $47.5 million of cash from financing activities during the three months ended March 31, 2024. The increase in cash used in financing activities is primarily due to the redemption of the remaining 50.0 million of Class B preferred units at $1.00 per unit plus accrued but unpaid interest thereon during the three months ended March 31, 2025 coupled with the sale of $57.2 million of 2029 Senior Notes during the three months ended March 31, 2024 compared to sales of $17.7 million for the three months ended March 31, 2025. In both periods, the data reflect borrowings associated with private label credit and general purpose credit card receivables offset by net repayments of amortizing debt facilities as payments are made on the underlying receivables that serve as collateral. For the quarter ended March 31, 2025, compared to the quarter ended