Atlanticus Holdings Corp Financials

ATLC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

3/9

Atlanticus Holdings Corp passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

4.22x

For every $1 of reported earnings, Atlanticus Holdings Corp generates $4.22 in operating cash flow ($469.4M OCF vs $111.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Atlanticus Holdings Corp (ATLC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$401.4M

YoY+13.1%

5Y CAGR+20.5%

10Y CAGR+18.5%

Atlanticus Holdings Corp generated $401.4M in revenue in fiscal year 2024. This represents an increase of 13.1% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$111.3M

YoY+8.2%

5Y CAGR+33.3%

10Y CAGR+31.5%

Atlanticus Holdings Corp reported $111.3M in net income in fiscal year 2024. This represents an increase of 8.2% from the prior year.

EPS (Diluted)

$4.77

YoY+12.5%

5Y CAGR+23.5%

10Y CAGR+25.1%

Atlanticus Holdings Corp earned $4.77 per diluted share (EPS) in fiscal year 2024. This represents an increase of 12.5% from the prior year.

Cash & Debt

$375.4M

YoY+10.6%

10Y CAGR+25.1%

Atlanticus Holdings Corp held $375.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

15M

YoY+2.1%

5Y CAGR-1.3%

10Y CAGR-0.3%

Atlanticus Holdings Corp had 15M shares outstanding in fiscal year 2024. This represents an increase of 2.1% from the prior year.

Gross Margin

70.5%

YoY-1.1pp

5Y CAGR+1.8pp

Atlanticus Holdings Corp's gross margin was 70.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.

Operating Margin

N/A

Net Margin

27.7%

YoY-1.3pp

5Y CAGR+11.0pp

10Y CAGR+18.0pp

Atlanticus Holdings Corp's net profit margin was 27.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.

Return on Equity

22.6%

YoY-3.5pp

5Y CAGR-2896.1pp

10Y CAGR-73.9pp

Atlanticus Holdings Corp's ROE was 22.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$52.7M

YoY+198.0%

5Y CAGR+83.7%

10Y CAGR+70.3%

Atlanticus Holdings Corp spent $52.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 198.0% from the prior year.

Capital Expenditures

N/A

ATLC Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$401.4M+13.1%	$354.8M-8.3%	$386.7M-11.9%	$438.7M+68.4%	$260.6M+64.8%	$158.2M
Cost of Revenue	$118.4M+17.7%	$100.6M+5.4%	$95.4M+26.6%	$75.4M+19.6%	$63.0M+27.5%	$49.5M
Gross Profit	$283.0M+11.3%	$254.2M-12.7%	$291.3M-19.8%	$363.3M+83.9%	$197.5M+81.7%	$108.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$160.2M+46.5%	$109.3M+33.6%	$81.9M+51.2%	$54.1M+5.0%	$51.5M+1.6%	$50.7M
Income Tax	$28.5M+7.0%	$26.6M+81.5%	$14.7M-64.9%	$41.8M+104.1%	$20.5M+268.7%	$5.6M
Net Income	$111.3M+8.2%	$102.8M-24.2%	$135.6M-23.8%	$177.9M+89.0%	$94.1M+255.9%	$26.4M
EPS (Diluted)	$4.77+12.5%	$4.24-27.3%	$5.83-22.9%	$7.56+91.4%	$3.95+138.0%	$1.66

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$140.8M+15.1%	$122.3M+3.5%	$118.2M+0.6%	$117.5M+30.4%	$90.1M-3.7%	$93.5M+1.9%	$91.8M+4.0%	$88.2M
Cost of Revenue	$39.0M+14.5%	$34.1M+6.0%	$32.2M-10.2%	$35.8M+29.3%	$27.7M+3.3%	$26.8M+0.8%	$26.6M+2.9%	$25.9M
Gross Profit	$101.8M+15.4%	$88.2M+2.5%	$86.1M+5.4%	$81.7M+30.9%	$62.4M-6.5%	$66.7M+2.3%	$65.2M+4.5%	$62.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$75.5M+40.6%	$53.7M+12.9%	$47.5M+6.4%	$44.7M+17.7%	$37.9M+8.2%	$35.1M+7.5%	$32.6M+15.4%	$28.3M
Income Tax	$7.9M-19.9%	$9.9M+1.1%	$9.7M+9.6%	$8.9M+98.7%	$4.5M-36.1%	$7.0M+58.0%	$4.4M-34.7%	$6.8M
Net Income	$25.0M-18.3%	$30.6M-3.0%	$31.5M+0.7%	$31.3M+28.9%	$24.3M-7.2%	$26.2M-0.5%	$26.3M+4.2%	$25.2M
EPS (Diluted)	$1.21-19.9%	$1.51+1.3%	$1.49+4.9%	$1.42+43.4%	$0.99-9.2%	$1.09-1.8%	$1.11+7.8%	$1.03

ATLC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.3B+20.8%	$2.7B+13.3%	$2.4B+22.8%	$1.9B+61.0%	$1.2B+28.9%	$936.3M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$375.4M+10.6%	$339.3M	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B+23.8%	$2.2B+13.1%	$1.9B+26.8%	$1.5B+53.0%	$991.4M+17.1%	$846.9M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$492.9M+24.9%	$394.7M+20.9%	$326.4M+13.3%	$288.0M+272.7%	$77.3M+8430.2%	$906K
Retained Earnings	$394.6M+28.4%	$307.3M+50.3%	$204.4M+239.4%	$60.2M+151.2%	-$117.7M+44.4%	-$211.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$7.1B+94.3%	$3.6B+11.3%	$3.3B0.0%	$3.3B+15.3%	$2.8B+1.8%	$2.8B+3.0%	$2.7B+4.2%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$425.0M+29.0%	$329.4M-6.0%	$350.4M-6.7%	$375.4M+7.0%	$350.9M-21.1%	$444.8M+31.1%	$339.3M-4.6%	$355.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.5B+112.1%	$3.0B+12.6%	$2.7B+0.4%	$2.7B+18.8%	$2.3B+1.4%	$2.2B+2.8%	$2.2B+4.4%	$2.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$589.3M+4.6%	$563.3M+5.7%	$532.7M+8.1%	$492.9M+13.6%	$433.8M+4.3%	$416.0M+5.4%	$394.7M+4.7%	$376.8M
Retained Earnings	$473.6M+5.0%	$450.9M+6.7%	$422.6M+7.1%	$394.6M+14.3%	$345.1M+5.5%	$327.1M+6.5%	$307.3M+9.4%	$281.0M

ATLC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$469.4M+2.2%	$459.3M+32.1%	$347.6M+63.7%	$212.4M-0.2%	$212.7M+112.8%	$100.0M
Capital Expenditures	N/A	N/A	N/A	N/A	$749K+199.6%	$250K
Free Cash Flow	N/A	N/A	N/A	N/A	$212.0M+112.6%	$99.7M
Investing Cash Flow	-$747.0M-11.1%	-$672.2M+1.5%	-$682.3M-43.6%	-$475.0M-62.4%	-$292.6M+32.5%	-$433.7M
Financing Cash Flow	$393.6M+141.0%	$163.3M-37.5%	$261.3M-48.8%	$510.3M+214.3%	$162.4M-56.0%	$368.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$52.7M+198.0%	$17.7M-80.1%	$89.0M+252.9%	$25.2M+652.1%	$3.4M+33.2%	$2.5M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$107.5M-19.0%	$132.7M+0.8%	$131.6M+7.3%	$122.6M+6.0%	$115.6M-2.7%	$118.8M-10.5%	$132.7M+13.5%	$116.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$506.9M-25.0%	-$405.5M-253.0%	-$114.9M+34.7%	-$176.0M+10.8%	-$197.2M-192.0%	-$67.5M+68.0%	-$211.2M+3.8%	-$219.6M
Financing Cash Flow	$442.2M+50.1%	$294.6M+637.0%	-$54.9M-132.6%	$168.3M+2516.1%	$6.4M-86.4%	$47.4M-23.8%	$62.2M-42.6%	$108.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$25K-98.7%	$1.9M-96.3%	$51.2M+104.7%	$25.0M+1866.5%	$1.3M+134.4%	$543K-83.6%	$3.3M-64.8%	$9.4M

ATLC Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	70.5%-1.1pp	71.6%-3.7pp	75.3%-7.5pp	82.8%+7.0pp	75.8%+7.1pp	68.7%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.7%-1.3pp	29.0%-6.1pp	35.1%-5.5pp	40.6%+4.4pp	36.1%+19.4pp	16.7%
Return on Equity	22.6%-3.5pp	26.1%-15.5pp	41.5%-20.2pp	61.8%-60.0pp	121.8%-2796.9pp	2918.7%
Return on Assets	3.4%-0.4pp	3.8%-1.9pp	5.7%-3.5pp	9.2%+1.3pp	7.8%+5.0pp	2.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	5.46-0.0	5.51-0.4	5.89+0.6	5.27-7.6	12.83-921.9	934.75
FCF Margin	N/A	N/A	N/A	N/A	81.3%+18.3pp	63.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	72.3%+0.2pp	72.1%-0.7pp	72.8%+3.3pp	69.5%+0.3pp	69.3%-2.1pp	71.3%+0.3pp	71.0%+0.3pp	70.7%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.7%-7.3pp	25.0%-1.7pp	26.7%0.0pp	26.7%-0.3pp	27.0%-1.0pp	28.0%-0.7pp	28.6%+0.1pp	28.6%
Return on Equity	4.2%-1.2pp	5.4%-0.5pp	5.9%-0.4pp	6.3%+0.8pp	5.6%-0.7pp	6.3%-0.4pp	6.7%-0.0pp	6.7%
Return on Assets	0.4%-0.5pp	0.8%-0.1pp	1.0%0.0pp	1.0%+0.1pp	0.9%-0.1pp	0.9%-0.0pp	1.0%0.0pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	10.95+5.5	5.40+0.3	5.07-0.4	5.46+0.2	5.22-0.1	5.37-0.1	5.51-0.0	5.53
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Atlanticus Holdings Corp's annual revenue?

Atlanticus Holdings Corp (ATLC) reported $401.4M in total revenue for fiscal year 2024. This represents a 13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Atlanticus Holdings Corp's revenue growing?

Atlanticus Holdings Corp (ATLC) revenue grew by 13.1% year-over-year, from $354.8M to $401.4M in fiscal year 2024.

Is Atlanticus Holdings Corp profitable?

Yes, Atlanticus Holdings Corp (ATLC) reported a net income of $111.3M in fiscal year 2024, with a net profit margin of 27.7%.

What is Atlanticus Holdings Corp's earnings per share (EPS)?

Atlanticus Holdings Corp (ATLC) reported diluted earnings per share of $4.77 for fiscal year 2024. This represents a 12.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Atlanticus Holdings Corp's gross margin?

Atlanticus Holdings Corp (ATLC) had a gross margin of 70.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Atlanticus Holdings Corp's net profit margin?

Atlanticus Holdings Corp (ATLC) had a net profit margin of 27.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Atlanticus Holdings Corp's return on equity (ROE)?

Atlanticus Holdings Corp (ATLC) has a return on equity of 22.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Atlanticus Holdings Corp's operating cash flow?

Atlanticus Holdings Corp (ATLC) generated $469.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Atlanticus Holdings Corp's total assets?

Atlanticus Holdings Corp (ATLC) had $3.3B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Atlanticus Holdings Corp buy back shares?

Yes, Atlanticus Holdings Corp (ATLC) spent $52.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Atlanticus Holdings Corp have outstanding?

Atlanticus Holdings Corp (ATLC) had 15M shares outstanding as of fiscal year 2024.

What is Atlanticus Holdings Corp's debt-to-equity ratio?

Atlanticus Holdings Corp (ATLC) had a debt-to-equity ratio of 5.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Atlanticus Holdings Corp's return on assets (ROA)?

Atlanticus Holdings Corp (ATLC) had a return on assets of 3.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Atlanticus Holdings Corp's Piotroski F-Score?

Atlanticus Holdings Corp (ATLC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Atlanticus Holdings Corp's earnings high quality?

Atlanticus Holdings Corp (ATLC) has an earnings quality ratio of 4.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.