Company: ATLCL
Filing Date: 2025-03-19
Form Type: CORRESP
Source: 0001437749-25-008467
Chunk: 5

Company: Atlanticus Holdings Corp
Filing Date: 2025-03-19
Form: CORRESP
Chunk 5
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 cover to the Staff pursuant to Rule 83.
Omitted and provided under separate cover to the Staff pursuant to Rule 83.

4

Confidential Treatment Requested by Atlanticus Holdings Corporation

AHC2 - 004

2024 Analysis

Management assessed the impact on the financial statement line items, pre-tax and net income, total assets and liabilities, and total revenue and net margin for Q1, Q2, and Q3 2024. Refer to Appendix A for illustrative charts for the below narrative discussion of impacts.

As shown in Appendix A, total impacts on the Loans receivable at Fair Value asset ranged from $[*****] million, or [*****]% of the financial statement line item (“FSLI”), in Q1 2024, to $[*****] million, or [*****]% of the FSLI, in Q3 2024. The change in the Fair Value of the Loan expense ranges from a decrease of [*****]% in the FSLI in Q1 2024 to a decrease of [*****]% for Q3 2024. The overall impact on Pre-tax income ranges from $[*****] million in Q1 2024, or an increase of [*****]%, to $[*****] million in Q3 2024, or an increase of [*****]%. This impact is below management’s assessed materiality for the quarter and does not have a significant impact on the mix of information available to investors.

This evaluation is further supported by the analysis of total assets and liabilities for the first three quarters of 2024. Impacts range from increases in total assets of [*****]% in Q1 2024 to [*****]% in Q3 2024, indicating there is not a significant change in the mix of information available to investors related to total assets. Total liabilities were not impacted as a result of the misstatement.

Lastly, impacts on total revenues and net margin were analyzed by management. The total misstatements impacting net margin were increases of [*****]% in Q1 2024, an increase of [*****]% in Q2 2024, and an increase of [*****]% in Q3 2024. Along with the corresponding impacts to pre-tax net income discussed above, management determined these misstatements represented an overall immaterial impact to the financial information available to investors for 2024.

2023 Analysis

As shown in Appendix A, the misstatement as of December 31, 2023 would have amounted to a $[*****