Company: ATLCL
Filing Date: 2025-04-09
Form Type: CORRESP
Source: 0001437749-25-011567
Chunk: 10

Company: Atlanticus Holdings Corp
Filing Date: 2025-04-09
Form: CORRESP
Chunk 10
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 in a similar regulatory environment.

Management concluded that aggregating the General Purpose Credit Card and Private Label Credit operating segments into a single reportable segment was consistent with the requirements of ASC 280 based on the operating segments’ economic and other qualitative similarities indicated in ASC 280-10-50-11. This aggregation helps investors understand performance and assess future cash flow prospects based on the underlying performance of a broad mix of consumer receivables within the two segments. Our ability to acquire this broad array of receivables between our two operating segments enables us to drive incremental growth and achieve desired consolidated returns that allow investors to better assess the overall performance of our invested capital.

Management, investors, industry analysts and others assess growth opportunities and future cash flow prospects at the CaaS reportable segment level. Growth in one often provides opportunities for growth in the other through cross channel marketing or relationships. For example, our partnership with Synchrony, as their preferred second look financing solution, provides opportunities for growth within both segments. Further, Company management continues to make future capital allocations based on the performance of a variety of acquired consumer receivables. We believe that investors and analysts will continue to prioritize management’s overall ability to provide adequate returns on invested capital in less than prime receivables, regardless of the underlying product type. The ability of each operating segment to leverage receivables underlying a variety of consumer finance offerings and drive segment growth indicates these businesses are inherently similar, a position that has been recognized by the users of our financial statements and is central to our corporate strategy of facilitating a broad array of financial services to as many consumers as possible.

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The Company appreciates the assistance the Staff has provided with its comments. If you have any questions, please do not hesitate to call me at (404) 885-3310.

| Sincerely,             |
| /s/ Paul Davis Fancher |
| Paul Davis Fancher     |

Confidential Treatment Requested by Atlanticus Holdings Corporation

AHC3 - 009

| cc: | William R. McCamey (Atlanticus Holdings Corporation)   
 Mitchell C. Saunders (Atlanticus Holdings Corporation) |