Atlanticus Reports First Quarter 2025 Financial Results
- Managed receivables increased 16.7% to $2.7 billion - Total operating revenue grew 18.9% to $344.9 million - Net income attributable to common shareholders rose 40.6% to $27.9 million - Earnings per diluted share reached $1.49 - Return on equity of 22.0% - Serving 3.8 million total accounts, adding 415,000 new accounts in Q1
The company's growth was driven by both private label credit and general purpose credit card products. While interest expenses increased due to higher borrowing costs, improved credit performance and operational efficiency contributed to stronger bottom-line results. Management expects continued growth throughout 2025, with general purpose credit card receivables growth anticipated to accelerate in Q3 and Q4.
- Le ricevute gestite sono aumentate del 16,7%, raggiungendo 2,7 miliardi di dollari - I ricavi operativi totali sono cresciuti del 18,9%, arrivando a 344,9 milioni di dollari - L'utile netto attribuibile agli azionisti comuni è salito del 40,6%, toccando 27,9 milioni di dollari - L'utile per azione diluito ha raggiunto 1,49 dollari - Il ritorno sul capitale proprio è stato del 22,0% - Servendo un totale di 3,8 milioni di conti, con un incremento di 415.000 nuovi conti nel primo trimestre
La crescita dell'azienda è stata trainata sia dai prodotti di credito a marchio privato sia dalle carte di credito a uso generale. Sebbene le spese per interessi siano aumentate a causa dei maggiori costi di finanziamento, il miglioramento delle performance creditizie e l'efficienza operativa hanno contribuito a risultati più solidi a livello di utile netto. La direzione prevede una crescita continua per tutto il 2025, con un'accelerazione prevista nella crescita delle ricevute delle carte di credito a uso generale nel terzo e quarto trimestre.
- Los créditos gestionados aumentaron un 16,7% hasta 2.700 millones de dólares - Los ingresos operativos totales crecieron un 18,9% hasta 344,9 millones de dólares - El ingreso neto atribuible a los accionistas comunes subió un 40,6% hasta 27,9 millones de dólares - Las ganancias por acción diluida alcanzaron 1,49 dólares - El retorno sobre el capital fue del 22,0% - Atiende a un total de 3,8 millones de cuentas, sumando 415.000 nuevas cuentas en el primer trimestre
El crecimiento de la compañía fue impulsado tanto por productos de crédito de marca privada como por tarjetas de crédito de uso general. Aunque los gastos por intereses aumentaron debido a mayores costos de endeudamiento, la mejora en el desempeño crediticio y la eficiencia operativa contribuyeron a resultados más sólidos en las ganancias netas. La gerencia espera un crecimiento continuo durante 2025, con una aceleración anticipada en el crecimiento de los créditos de tarjetas de crédito de uso general en el tercer y cuarto trimestre.
- 관리 중인 채권이 16.7% 증가하여 27억 달러에 달함 - 총 영업 수익이 18.9% 증가하여 3억 4,490만 달러 기록 - 보통주주 귀속 순이익이 40.6% 증가하여 2,790만 달러 달성 - 희석 주당순이익 1.49달러 도달 - 자기자본이익률 22.0% - 총 380만 계정을 서비스하며 1분기에 41만 5천 개의 신규 계정 추가
회사의 성장은 프라이빗 라벨 신용 상품과 일반 목적 신용카드 상품 모두에 의해 견인되었습니다. 차입 비용 증가로 이자 비용은 늘었지만, 신용 성과 개선과 운영 효율성 향상이 순이익 증가에 기여했습니다. 경영진은 2025년 내내 지속적인 성장을 기대하며, 3분기와 4분기에 일반 목적 신용카드 채권 성장 가속화를 예상하고 있습니다.
- Les créances gérées ont augmenté de 16,7% pour atteindre 2,7 milliards de dollars - Le chiffre d'affaires opérationnel total a progressé de 18,9% pour atteindre 344,9 millions de dollars - Le résultat net attribuable aux actionnaires ordinaires a augmenté de 40,6% pour atteindre 27,9 millions de dollars - Le bénéfice par action dilué a atteint 1,49 dollar - Le retour sur fonds propres s'élève à 22,0% - Service de 3,8 millions de comptes au total, avec 415 000 nouveaux comptes ajoutés au premier trimestre
La croissance de l'entreprise a été portée à la fois par les produits de crédit en marque blanche et les cartes de crédit à usage général. Bien que les charges d'intérêts aient augmenté en raison de coûts d'emprunt plus élevés, l'amélioration des performances de crédit et l'efficacité opérationnelle ont contribué à des résultats nets plus solides. La direction prévoit une croissance continue tout au long de 2025, avec une accélération prévue de la croissance des créances des cartes de crédit à usage général au troisième et quatrième trimestre.
- Verwaltete Forderungen stiegen um 16,7 % auf 2,7 Milliarden US-Dollar - Gesamter Betriebsumsatz wuchs um 18,9 % auf 344,9 Millionen US-Dollar - Nettoeinkommen der Stammaktionäre stieg um 40,6 % auf 27,9 Millionen US-Dollar - Gewinn je verwässerter Aktie erreichte 1,49 US-Dollar - Eigenkapitalrendite von 22,0 % - Betreuung von insgesamt 3,8 Millionen Konten, mit 415.000 neuen Konten im ersten Quartal
Das Wachstum des Unternehmens wurde sowohl durch Private-Label-Kredit- als auch durch allgemeine Kreditkartenprodukte angetrieben. Obwohl die Zinsaufwendungen aufgrund höherer Kreditkosten gestiegen sind, trugen verbesserte Kreditleistungen und operative Effizienz zu stärkeren Ergebnissen bei. Das Management erwartet für 2025 weiterhin Wachstum, wobei für das dritte und vierte Quartal eine Beschleunigung des Wachstums bei den Forderungen aus allgemeinen Kreditkarten prognostiziert wird.
- Net margin increased significantly by 26.4% year-over-year
- Strong revenue growth with total operating revenue up 18.9% to $344.9 million
- Substantial net income growth of 40.6% to $27.9 million for common shareholders
- Healthy return on equity of 22.0%
- Customer base expansion with 3.8 million total accounts, up 8.1%
- Improved credit performance with lower provision for credit losses
- Active share repurchase program with 27,252 shares bought back
- Interest expense increased 35.6% to $47.5 million due to higher borrowing costs
- Operating expenses rose 27.4% due to increased servicing costs and employee growth
- Expected continued increase in interest expenses due to higher rates on new debt
- Some merchant partners facing year-over-year growth challenges
Insights
ATLC delivered impressive Q1 with 40.6% earnings growth, 26.4% net margin improvement, and solid 22% ROE despite rising costs.
Atlanticus Holdings reported exceptional Q1 2025 financial performance with net income attributable to common shareholders surging 40.6% year-over-year to
The company's
Core business metrics demonstrate healthy growth trajectory: managed receivables increased
Atlanticus' improved credit quality metrics are encouraging. Management highlighted "improvements in the fair value assessment for receivables due to improvements in the underlying performance in the form of improved delinquencies and improved net returns." Their tightened underwriting standards appear to be delivering results, with the
The company's business model focuses on providing credit solutions to consumers building or rebuilding credit, primarily used for essentials like food and gas. This positions them in a relatively stable market segment focused on necessary spending rather than discretionary purchases.
Looking ahead, Atlanticus anticipates continued growth throughout 2025, with expected shifts in the mix between private label credit and general purpose credit cards influencing yield ratios. The company plans additional debt financing at higher interest rates to fund growth, which will further increase interest expenses.
The modest share repurchase program (
First Quarter 2025 net margin growth of
ATLANTA, May 08, 2025 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (Atlanticus, the Company, we, our or us), a financial technology company that enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced its financial results for the first quarter ended March 31, 2025. An accompanying earnings presentation is available in the Investors section of the Company’s website at www.atlanticus.com or by clicking here.
Financial and Operating Highlights
First Quarter 2025 Highlights (all comparisons to the First Quarter 2024)
- Managed receivables2 increased
16.7% to$2.7 billion - Total operating revenue and other income increased
18.9% to$344.9 million - Return on average equity of 22.0 %3
- Purchase volume of
$661.0 million - Over 415,000 new accounts served during the quarter, 3.8 million total accounts served1
- Net income attributable to common shareholders of
$27.9 million , or$1.49 per diluted common share
1) In our calculation of total accounts served, we include all accounts with account activity and accounts that have open lines of credit at the end of the referenced period.
2) Managed receivables is a non-GAAP financial measure and excludes the results of our Auto Finance receivables. See Calculation of Non-GAAP Financial Measures for important additional information.
3) Return on average equity is calculated using Net income attributable to common shareholders as the numerator and the average of Total equity as of March 31, 2025 and December 31, 2024 as the denominator, annualized.
Management Commentary
Jeff Howard, President and Chief Executive Officer at Atlanticus stated, “We are pleased to start the year with prudent growth and achieving our profitability targets while adding over 400,000 new customers served. This quarter’s performance continues to highlight our priorities of providing an invaluable service to the consumers we serve, unit level profitability, and finally, growth. On behalf of our bank partners, we now facilitate access to everyday needs through credit to nearly 4 million consumers. The largest purchase volumes on our general-purpose credit card solutions are for food and gas, indicative of the role the services we provide play in the daily lives of everyday Americans. We are proud to partner with these consumers on their financial journey.
“We have built a diversified, tech-enabled, credit-as-a-service platform that brings together banks, retail and health-care partners, to meet their customers where they are. This diversified platform capability provides us with significant opportunities for long-term, sustained growth as we work to offer financial solutions to the almost 100 million everyday Americans looking to build or improve their credit. Our analytics, technology, and access to ample capital allow us to offer a best-in-class solution to our partners and their customers. It is this opportunity that leads to our belief that we can deliver above market rates of growth while achieving our targeted return on capital.”
| Financial Results | For the Three Months Ended March 31, | ||||||||||
| ($ in thousands, except per share data) | 2025 | 2024 | % Change | ||||||||
| Total operating revenue and other income | $ | 344,873 | $ | 290,174 | |||||||
| Other non-operating income | 293 | 532 | nm | ||||||||
| Total revenue and other income | 345,166 | 290,706 | |||||||||
| Interest expense | (47,530) | (35,063) | |||||||||
| Provision for credit losses | (1,068) | (2,944) | nm | ||||||||
| Changes in fair value of loans | (178,345) | (159,171) | |||||||||
| Net margin | $ | 118,223 | $ | 93,528 | |||||||
| Total operating expenses | $ | 77,355 | $ | 60,707 | |||||||
| Net income | $ | 31,122 | $ | 25,819 | |||||||
| Net income attributable to controlling interests | $ | 31,520 | $ | 26,170 | |||||||
| Preferred stock and preferred unit dividends and discount accretion | $ | (3,574) | $ | (6,292) | ( | ||||||
| Net income attributable to common shareholders | $ | 27,946 | $ | 19,878 | |||||||
| Net income attributable to common shareholders per common share—basic | $ | 1.85 | $ | 1.35 | |||||||
| Net income attributable to common shareholders per common share—diluted | $ | 1.49 | $ | 1.09 | |||||||
*nm = not meaningful
Managed Receivables
Managed receivables increased
Total Operating Revenue and Other Income
Total operating revenue and other income consists of: 1) interest income, finance charges and late fees on consumer loans, 2) other fees on credit products including annual and merchant fees and 3) interchange and servicing income on loan portfolios and other customer related fees.
We are currently experiencing continued period-over-period growth in private label credit and general purpose credit card receivables — growth that we expect to result in net period-over-period growth in our total interest income and related fees for these operations throughout 2025. During 2024 we experienced higher growth rates for our private label credit receivables than for our general purpose credit card receivables. We expect growth in our private label credit receivables to exceed growth in our general purpose receivables through the second quarter of 2025. Future periods’ growth is dependent on the addition of new retail partners to expand the reach of private label credit operations as well as growth within existing partnerships and the level of marketing investment for the general purpose credit card operations.
During the quarter ended March 31, 2025, total operating revenue and other income increased
Interest Expense
Interest expense was
Outstanding notes payable, net of unamortized debt issuance costs and discounts, associated with our private label credit and general purpose credit card platform increased to
Changes in Fair Value of Loans
Changes in fair value of loans increased to
We include asset performance degradation in our forecasts to reflect both changes in assumed asset level economics and the possibility of delinquency rates increasing in the near term (and the corresponding increase in charge-offs and decrease in payments) above the level that current trends would suggest. Based on observed asset stabilization, implementation of product, policy, and pricing changes and general improvements in U.S. economic expectations due to the improved inflation environment, some expected degradation has been removed in recent periods. Tightened underwriting standards have resulted in improved overall credit performance of our acquired receivables. When coupled with those existing assets negatively impacted by inflation gradually becoming a smaller percentage of the outstanding portfolio, we expect to see overall improvements in the measured fair value of our portfolios of acquired receivables.
Total Operating Expenses
Total operating expenses increased
We expect some continued increase in salaries and benefits in 2025 compared to corresponding periods in 2024 as we continue to add resources across our business and as a result we expect to increase our number of employees.
We expect increased levels of expenditures associated with anticipated growth in private label credit and general purpose credit card operations. These expenses will primarily relate to the variable costs of marketing efforts and card and loan servicing expenses associated with new receivable acquisitions. Offsetting a portion of this increase are significant reductions in our servicing costs per account, resulting from the realization of greater economies of scale and increased use of automation as our receivables have grown.
In addition, as we continue to adjust our underwriting standards to reflect changes in fee and finance assumptions on new receivables, and allow for overall increases in the cost to successfully market to consumers, we expect period over period marketing costs for 2025 to increase relative to those experienced in 2024, although the frequency and timing of increased marketing efforts could vary and are dependent on macroeconomic factors such as national unemployment rates and federal funds rates.
Net Income Attributable to Common Shareholders
Net income attributable to common shareholders increased
Share Repurchases
We repurchased and retired 27,252 shares of our common stock at an aggregate cost of
We will continue to evaluate the best use of our capital to increase shareholder value over time.
About Atlanticus Holdings Corporation
Empowering Better Financial Outcomes for Everyday Americans
Atlanticus™ technology enables bank, retail, and healthcare partners to offer more inclusive financial services to everyday Americans through the use of proprietary technology and analytics. We apply the experience gained and infrastructure built from servicing over 20 million customers and
Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current views with respect to, among other things, its business, long-term growth plans and opportunities, operations, return on capital, financial performance, revenue and other income, amount and pace of growth of managed receivables, mix of receivables, underwriting approach, total interest income and related fees and charges, managed yield ratio, debt financing, liquidity, interest rates, interest expense, operating expense, marketing efforts and fair value of receivables. You generally can identify these statements by the use of words such as outlook, potential, continue, may, seek, approximately, predict, believe, expect, plan, intend, estimate or anticipate and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as will, should, would, likely and could. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These risks and uncertainties include those risks described in the Company's filings with the Securities and Exchange Commission and include, but are not limited to, bank partners, merchant partners, consumers, loan demand, the capital markets, labor availability, supply chains and the economy in general; the Company's ability to retain existing, and attract new, merchant partners and funding sources; changes in market interest rates; increases in loan delinquencies; its ability to operate successfully in a highly regulated industry; the outcome of litigation and regulatory matters; the effect of management changes; cyberattacks and security vulnerabilities in its products and services; and the Company's ability to compete successfully in highly competitive markets. The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, the Company disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.
Contact:
Investor Relations
(770) 828-2000
investors@atlanticus.com
| Atlanticus Holdings Corporation and Subsidiaries | ||||||||
| Condensed Consolidated Balance Sheets (Unaudited) | ||||||||
| (Dollars in thousands) | ||||||||
| March 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Unrestricted cash and cash equivalents (including | ||||||||
| Restricted cash and cash equivalents (including | 111,059 | 124,220 | ||||||
| Loans at fair value (including | 2,668,503 | 2,630,274 | ||||||
| Loans at amortized cost, net (including | 81,238 | 84,332 | ||||||
| Property at cost, net of depreciation | 12,401 | 10,519 | ||||||
| Operating lease right-of-use assets | 13,844 | 13,878 | ||||||
| Prepaid expenses and other assets | 34,730 | 32,068 | ||||||
| Total assets | ||||||||
| Liabilities | ||||||||
| Accounts payable and accrued expenses | ||||||||
| Operating lease liabilities | 24,145 | 24,188 | ||||||
| Notes payable, net (including | 2,174,632 | 2,199,448 | ||||||
| Senior notes, net | 299,656 | 281,552 | ||||||
| Income tax liability | 123,775 | 114,068 | ||||||
| Total liabilities | 2,703,316 | 2,691,344 | ||||||
| Commitments and contingencies | ||||||||
| Preferred stock, no par value, 10,000,000 shares authorized: | ||||||||
| Series A preferred stock, 400,000 shares issued and outstanding (liquidation preference - | 40,000 | 40,000 | ||||||
| Class B preferred units issued to noncontrolling interests | – | 50,000 | ||||||
| Shareholders' Equity | ||||||||
| Series B preferred stock, no par value, 3,314,840 shares issued and outstanding at March 31, 2025 (liquidation preference - | – | – | ||||||
| Common stock, no par value, 150,000,000 shares authorized: 15,097,243 and 14,904,192 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively | – | – | ||||||
| Paid-in capital | 110,138 | 98,278 | ||||||
| Retained earnings | 422,574 | 394,628 | ||||||
| Total shareholders’ equity attributable to Atlanticus Holdings Corporation | 532,712 | 492,906 | ||||||
| Noncontrolling interests | (3,863) | (3,543) | ||||||
| Total equity | 528,849 | 489,363 | ||||||
| Total liabilities, shareholders' equity and temporary equity | ||||||||
| (1) Both the Series A preferred stock and the Series B preferred stock have no par value and are part of the same aggregate 10,000,000 shares authorized. | ||||||||
| Atlanticus Holdings Corporation and Subsidiaries | ||||||||
| Condensed Consolidated Statements of Income (Unaudited) | ||||||||
| (Dollars in thousands, except per share data) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue and other income: | ||||||||
| Consumer loans, including past due fees | ||||||||
| Fees and related income on earning assets | 78,341 | 47,905 | ||||||
| Other revenue | 18,877 | 11,895 | ||||||
| Total operating revenue and other income | 344,873 | 290,174 | ||||||
| Other non-operating income | 293 | 532 | ||||||
| Total revenue and other income | 345,166 | 290,706 | ||||||
| Interest expense | (47,530) | (35,063) | ||||||
| Provision for credit losses | (1,068) | (2,944) | ||||||
| Changes in fair value of loans | (178,345) | (159,171) | ||||||
| Net margin | 118,223 | 93,528 | ||||||
| Operating expenses: | ||||||||
| Salaries and benefits | (15,503) | (13,312) | ||||||
| Card and loan servicing | (32,152) | (26,822) | ||||||
| Marketing and solicitation | (20,334) | (10,428) | ||||||
| Depreciation | (797) | (654) | ||||||
| Other | (8,569) | (9,491) | ||||||
| Total operating expenses | (77,355) | (60,707) | ||||||
| Income before income taxes | 40,868 | 32,821 | ||||||
| Income tax expense | (9,746) | (7,002) | ||||||
| Net income | 31,122 | 25,819 | ||||||
| Net loss attributable to noncontrolling interests | 398 | 351 | ||||||
| Net income attributable to controlling interests | 31,520 | 26,170 | ||||||
| Preferred stock and preferred unit dividends and discount accretion | (3,574) | (6,292) | ||||||
| Net income attributable to common shareholders | ||||||||
| Net income attributable to common shareholders per common share—basic | ||||||||
| Net income attributable to common shareholders per common share—diluted | ||||||||
Additional Information
Additional trends and data with respect to our private label credit and general purpose credit card receivables can be found in our latest Form 10-Q filing with the Securities and Exchange Commission under Management's Discussion and Analysis of Financial Condition and Results of Operations.
Calculation of Non-GAAP Financial Measures
This press release presents information about managed receivables, which is a non-GAAP financial measure provided as a supplement to the results provided in accordance with accounting principles generally accepted in the United States of America (GAAP). In addition to financial measures presented in accordance with GAAP, we present managed receivables, total managed yield, combined principal net charge-offs, and fair value to total managed receivables ratio, all of which are non-GAAP financial measures. These non-GAAP financial measures aid in the evaluation of the performance of our credit portfolios, including our risk management, servicing and collection activities and our valuation of purchased receivables. The credit performance of our managed receivables provides information concerning the quality of loan originations and the related credit risks inherent with the portfolios. Management relies heavily upon financial data and results prepared on the managed basis in order to manage our business, make planning decisions, evaluate our performance and allocate resources.
These non-GAAP financial measures are presented for supplemental informational purposes only. These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, or as a substitute for, GAAP financial measures. These non-GAAP financial measures may differ from the non-GAAP financial measures used by other companies. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures or the calculation of the non-GAAP financial measures are provided below for each of the fiscal periods indicated.
These non-GAAP financial measures include only the performance of those receivables underlying consolidated subsidiaries (for receivables carried at amortized cost basis and fair value) and exclude the performance of receivables held by our former equity method investee. As the receivables underlying our former equity method investee reflect a small and diminishing portion of our overall receivables base, we do not believe their inclusion or exclusion in the overall results is material. Additionally, we calculate average managed receivables based on the quarter-end balances.
The comparison of non-GAAP managed receivables to our GAAP financial statements requires an understanding that managed receivables reflect the face value of loans, interest and fees receivable without any consideration for potential loan losses or other adjustments to reflect fair value.
A reconciliation of Loans at fair value to Total managed receivables is as follows:
| At or for the Three Months Ended | |||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||
| (in Millions) | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | |||||||||||||||||
| Loans at fair value | |||||||||||||||||||||||||
| Fair value mark against receivable (1) | 37.8 | 94.5 | 142.5 | 137.7 | 167.5 | 237.5 | 265.2 | 257.9 | |||||||||||||||||
| Total managed receivables (2) | |||||||||||||||||||||||||
| Fair value to Total managed receivables ratio (3) | |||||||||||||||||||||||||
| (1) The Fair value mark against receivables reflects the difference between the face value of a receivable and the net present value of the expected cash flows associated with that receivable. |
| (2) Total managed receivables are equal to the aggregate unpaid gross balance of loans carried at fair value. |
| (3) The Fair value to Total managed receivables ratio is calculated using Loans at fair value as the numerator, and Total managed receivables as the denominator. |
A reconciliation of our operating revenues, net of finance and fee charge-offs, to comparable amounts used in our calculation of Total managed yield is as follows:
| At or for the Three Months Ended | |||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||
| (in Millions) | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | |||||||||||||||||
| Consumer loans, including past due fees | |||||||||||||||||||||||||
| Fees and related income on earning assets | 78.3 | 83.8 | 78.5 | 59.5 | 47.9 | 71.7 | 59.8 | 62.9 | |||||||||||||||||
| Other revenue | 18.7 | 17.5 | 16.8 | 13.6 | 11.7 | 12.0 | 10.2 | 7.6 | |||||||||||||||||
| Total operating revenue and other income - CaaS Segment | 335.5 | 343.4 | 340.6 | 305.2 | 279.6 | 298.3 | 284.6 | 280.8 | |||||||||||||||||
| Adjustments due to acceleration of merchant fee discount amortization under fair value accounting | 0.1 | 0.7 | (15.1) | (12.6) | 4.0 | 6.5 | (6.8) | (10.6) | |||||||||||||||||
| Adjustments due to acceleration of annual fees recognition under fair value accounting | (4.2) | (10.5) | (8.0) | 1.1 | 10.1 | (12.6) | (3.1) | (9.8) | |||||||||||||||||
| Removal of finance charge-offs | (70.0) | (64.9) | (60.6) | (62.9) | (63.7) | (59.5) | (47.1) | (54.2) | |||||||||||||||||
| Total managed yield | |||||||||||||||||||||||||
The calculation of Combined principal net charge-offs is as follows:
| At or for the Three Months Ended | |||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||
| (in Millions) | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | Mar. 31 | Dec. 31 | Sep. 30 | Jun. 30 | |||||||||||||||||
| Charge-offs on loans at fair value | |||||||||||||||||||||||||
| Finance charge-offs (1) | (70.0) | (64.9) | (60.6) | (62.9) | (63.7) | (59.5) | (47.1) | (54.2) | |||||||||||||||||
| Combined principal net charge-offs | |||||||||||||||||||||||||
(1) Finance charge-offs are included as a component of our Changes in fair value of loans in the condensed consolidated statements of income.
FAQ
What were Atlanticus (ATLC) key financial results for Q1 2025?
How many customers does Atlanticus (ATLC) serve as of Q1 2025?
What is causing higher interest expenses for Atlanticus (ATLC) in Q1 2025?
What is Atlanticus (ATLC) growth outlook for 2025?
How much stock did Atlanticus (ATLC) repurchase in Q1 2025?
