Company: ATLCL
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025502
Chunk: 139

Company: Atlanticus Holdings Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 139
---
 (49,203)  —   (1,273)  —   —   (1,273)  —   — 
 Net income (loss)   —   —   —   —   —   24,280   (153)  24,127   —   — 
 Balance at June 30, 2024   3,300,704  $—   14,748,938  $—  $88,705  $345,110  $(2,907) $430,908  $40,000  $100,400 

See accompanying notes.

       4

Atlanticus Holdings Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

      For the Six Months Ended June 30,  
   2025    2024  
 Operating activities         
 Net income  $61,412  $49,946 
 Adjustments to reconcile net income to net cash provided by operating activities:         
 Depreciation, amortization and accretion, net   3,287   2,504 
 Provision for credit losses   2,450   4,690 
 Deferred income tax expense   19,418   13,543 
 Income from accretion of discount associated with Loans at amortized cost, net   (13,409)  (12,605)
 Income from merchant fees associated with Loans at fair value   (96,123)  (67,061)
 Changes in fair value of loans   395,122   345,422 
 Change in bank partner fees carried at fair value   2,135   — 
 Amortization of debt issuance costs   8,088   5,289 
 Stock-based compensation costs   1,818   1,990 
 Changes in assets and liabilities:         
 Decrease in lease liability   (1,530)  (1,499)
 Increase in uncollected fees on earning assets   (144,630)  (110,557)
 Increase in income tax liability   (659)  (2,241)
 Increase in accounts payable and accrued expenses   40,603   8,996 
 Other   (13