Company: ATLCL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015559
Chunk: 197

Company: Atlanticus Holdings Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 197
---
3
     %
      
     $
     217,136

     9.4
     %
      
     $
     170,274

     7.8
     %

      Average managed receivables 
      
     $
     2,364,680

     $
     2,363,231

     $
     2,244,604

     $
     2,114,840

      Total managed yield ratio, annualized (1) 

     38.9
     %

     39.4
     %

     40.6
     %

     39.0
     %

      Combined principal net charge-off ratio, annualized (2) 

     28.4
     %

     26.4
     %

     22.5
     %

     23.8
     %

      Interest expense ratio, annualized (3) 

     5.8
     %

     5.4
     %

     4.9
     %

     4.4
     %

      Net interest margin ratio, annualized (4) 

     4.7
     %

     7.6
     %

     13.2
     %

     10.8
     %

     (1)
      The Total managed yield ratio, annualized is calculated using the annualized total managed yield as the numerator and period-end average managed receivables as the denominator. 

      (2) 
      The Combined principal net charge-off ratio, annualized is calculated using the annualized combined principal net charge-offs as the numerator and period-end average managed receivables as the denominator. 

      (3) 
      Interest expense ratio, annualized is calculated using the annualized interest expense associated with the CaaS segment (See Note 3, "Segment Reporting" to our condensed consolidated financial statements) as the numerator and period-end average managed receivables as the denominator. 

      (4) 
      Net interest margin ratio, annualized is calculated using the Total managed yield ratio, annualized less the Combined principal net charge-off ratio, annualized less the Interest expense ratio, annualized. 

       35

The following table presents additional trends and data with respect to our private label credit and general purpose credit card receivables (dollars in thousands). Results of our legacy credit card receivables portfolios are excluded:

      Private Label Credit - At or for the Three