SUI Group swings to $47.7M profit in Q3 2026
At September 30, 2026, SUI Group reported $145.103 million in assets and $133.409 million in shareholders’ equity.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
SUI Group Holdings Limited reported third-quarter 2026 revenue of $311,000, compared with $1.014 million in the three months ended September 30, 2025, and net income of $47.690 million versus a net loss of $44.267 million. Operating income was $49.849 million, compared with an operating loss of $63.663 million; the quarter included an $82.686 million unrealized gain and a $27.964 million realized loss on digital assets. Basic and diluted earnings per share were $0.59, versus a loss of $0.72 per share in the three months ended September 30, 2025.
At September 30, 2026, total assets were $145.103 million, including $106.271 million in digital assets; total liabilities were $11.694 million and shareholders’ equity was $133.409 million. As of November 2, 2026, holdings totaled 109,290,995 SUI, including digital asset loans and receivables. The company estimated mNAV at approximately 0.72x using November 2 closing prices and says the supplemental measure is not traditional net asset value or predictive of its stock price. A material weakness in internal control over financial reporting is listed among the stated risks.
1 point · 1 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointNet income was $47.690 million, versus a $44.267 million loss.
Negative
- Moderate pointQuarterly revenue was $311,000, compared with $1.014 million in the prior-year quarter.
- Minor pointMaterial weakness in ICFR is listed among the company’s stated risks.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Total revenue: $311,000
Operating income: $49.849 million
Net income: $47.690 million
+5 more
8 metrics
Total revenue
$311,000
Three months ended September 30, 2026; $1.014 million in the comparable 2025 period
Operating income
$49.849 million
Three months ended September 30, 2026; operating loss of $63.663 million in the comparable 2025 period
Net income
$47.690 million
Three months ended September 30, 2026; net loss of $44.267 million in the comparable 2025 period
Diluted earnings per share
$0.59 per share
Three months ended September 30, 2026; loss of $0.72 per share in the comparable 2025 period
SUI holdings
109,290,995 SUI
As of November 2, 2026; includes digital asset loans and receivables
mNAV
Approximately 0.72x
Company estimate using November 2, 2026 closing prices
Total assets
$145.103 million
As of September 30, 2026
Total liabilities
$11.694 million
As of September 30, 2026
Key Terms
mNAV, SUI-denominated yield, digital asset loan receivable, GAAP carrying values
4 terms
SUI-denominated yield financial
"generate SUI-denominated yield"
digital asset loan receivable financial
"Digital asset loan receivable, net"
GAAP carrying values financial
"prevailing market prices rather than at GAAP carrying values"
Earnings Snapshot
Total revenue: $311,000
Three months ended September 30, 2026
Total revenue
$311,000
Compared with $1.014 million in the three months ended September 30, 2025
Operating income
$49.849 million
Compared with an operating loss of $63.663 million in the three months ended September 30, 2025
Net income (loss)
$47.690 million
Compared with a net loss of $44.267 million in the three months ended September 30, 2025
Diluted earnings per share
$0.59 per share
Compared with a loss of $0.72 per share in the three months ended September 30, 2025
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were SUIG’s third-quarter 2026 revenue and earnings?
For the three months ended September 30, 2026, SUIG reported revenue of $311,000 and net income of $47.690 million, compared with revenue of $1.014 million and a net loss of $44.267 million in the three months ended September 30, 2025.
How much SUI did SUIG hold?
SUI Group reported holdings of 109,290,995 SUI as of November 2, 2026, including digital asset loans and receivables. The company said its staking strategy generates SUI-denominated yield and described its holdings as spanning treasury, lending arrangements and receivables.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 5, 2026
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices) (Zip Code)
(952 ) 479-1923
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 |
Results of Operations and Financial Condition.
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On November 5, 2026, Sui Group Holdings Limited (the “Company”) issued a press release announcing its financial results for the fiscal third quarter ended
September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 |
Financial Statements and Exhibits.
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Exhibits.
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Exhibit No.
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Exhibit Description
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99.1
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Press Release dated November 5, 2026
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL Document)
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2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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SUI GROUP HOLDINGS LIMITED
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| Date: November 5, 2026 |
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| By: |
/s/ Douglas M. Polinsky | |
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Name: Douglas M. Polinsky
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Title: Chief Executive Officer
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3
Exhibit 99.1
SUI Group Reports Third Quarter 2026 Financial and Operating Results
Advancing SUI Treasury Strategy, Reducing costs, While Pursuing High-Conviction Growth Opportunities Across Digital Assets, Fintech and Artificial
Intelligence
Total SUI Holdings of 109,290,995 (Including Digital Asset Loans and Receivables) as of November 2, 2026
WAYZATA, MN, November 5, 2026 – Sui Group
Holdings Limited (NASDAQ: SUIG) (“SUI Group,” “SUIG” or the “Company”) today announced its financial and operating results for the third quarter ended September 30, 2026, along with an update on its SUI treasury strategy.
“During the third quarter, we continued to identify opportunities to put our balance sheet to work to generate attractive, risk-adjusted returns and enhance the
long-term value of our treasury,” said Marius Barnett, Chairman of the Board. “With approximately 109.3 million SUI tokens held across our treasury, lending arrangements and receivables, we have built a substantial position in the Sui ecosystem.
Our staking strategy continues to generate SUI-denominated yield, enabling us to enhance the productivity of our holdings while preserving exposure to the network’s long-term growth. We believe the combination of our scale, yield-generating
activities and disciplined approach to capital allocation provides a strong foundation for creating value beyond simply holding SUI.”
“Beyond our treasury operations, we see an important opportunity to contribute to the continued development and adoption of the Sui ecosystem. Through our
relationships with the Sui Foundation and leading protocols, we are working to support the expansion of the network’s financial applications and broader utility. We are also evaluating high-conviction investment opportunities across the digital
assets, financial technology and artificial intelligence sectors, building on the strategic investments we have made to date. We are taking a selective approach to deploying capital, with an emphasis on attractive risk-adjusted returns, balance
sheet productivity and opportunities that can generate lasting value for our shareholders.”
The Company also served as a Platinum Sponsor of Sui Basecamp 2026, the Sui ecosystem’s flagship annual event, held October 7-8 in Singapore alongside TOKEN2049. The
event provided an opportunity to deepen connections between SUI Group, the Sui Foundation and other leading members of the Sui ecosystem. Sui Basecamp featured the SUIG Arena, which hosted a live trading competition, and a fireside discussion
featuring SUI Group Board Director Brian Quintenz, former Commissioner of the U.S. Commodity Futures Trading Commission.
Q3 2026 Financial Summary (vs. Q3 2025)
Highlights from the Company’s results for the third quarter of 2026 from its SUI treasury, as well as its legacy commercial short-term non-bank lending and specialty finance business,
were as follows:
| • |
Total Revenue and Other Income: Total revenue and other income
in Q3 2026 (excluding net realized and unrealized losses on investments) was $557,000 compared to $2.6 million in the same period last year. The decrease was primarily driven by lower investment and interest income from the legacy loan
portfolio and lower SUI staking revenue in dollars, due to the decline in the market price of SUI when rewards were earned.
|
| • |
Digital Asset Gains and Losses: The Company’s third quarter
2026 results include approximately $54.7 million in net gains on digital assets and receivables, consisting of $82.7 million in net unrealized gains (including $3.0 million of amortized deferred income), partially offset by $28.0 million in
realized losses associated with digital asset trading activities. The unrealized gains primarily reflect changes in the fair value of the Company’s digital assets and receivables, including the amortization of deferred income related to its
SUI purchases. The realized losses were primarily attributable to high-frequency trading activities. These amounts largely reflect the U.S. GAAP accounting treatment of the Company’s digital asset holdings and changes in SUI’s market price,
rather than corresponding cash inflows or outflows of the same amounts.
|
| • |
Net Income (Loss): Net income for the third quarter of 2026
increased significantly to $47.7 million, or $0.59 per diluted share, compared to a net loss of $44.3 million, or $(0.72) per diluted share, in the same period last year.
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SUI Group Treasury Update
| • |
Treasury: 109,290,995 SUI (including 6,000,000 SUI loan receivables) as of November 2, 2026.
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| • |
SUI Value: Approximately $98.4 million using the November 2, 2026, price of $0.90 per SUI1. Please refer to mNAV calculation in this announcement for the reconciliation between US GAAP
and non-GAAP numbers.
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| • |
SUI per Share: Using fully adjusted shares2 issued and outstanding as of November 2, 2026, of 80.9 million shares, SUI Group’s treasury remained flat at 1.35 SUI per share of common
stock (vs approximately 1.35 on August 3, 2026), or $1.22 per share of common stock (vs $0.93 on August 3, 2026).
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| • |
Staking: A significant majority of the Company’s SUI is being staked, earning an approximate 1.5% annualized yield during the three-month period ended September 30, 2026. The current estimated
daily yield is approximately 4,000 SUI.
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Conference Call and Webcast Details
The Company will conduct a conference call today, November 5, 2026, at 5:00 p.m. Eastern time to discuss its financial and operating results for the third quarter ended
September 30, 2026.
SUI Group’s executive team will host the conference call, followed by a question-and-answer session.
Date: Thursday, November 5, 2026
Time: 5:00 p.m. ET
Toll-free dial-in number: (877) 407-6176
International dial-in number: (201) 689-8451
Webcast: SUIG’s Q3 2026 Earnings Conference Call
Participants can also access the Company’s earnings call using the call me option here for instant telephone access to the event, which will be active
approximately 15 minutes before the scheduled start time.
1 Based on SUI/USD price on November 2, 2026, as reported by Coinbase.
2 Includes issued shares, as well as issued but unexercised pre-funded warrants.
If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.
The conference call will also be available for replay on the investor relations section of the Company’s website at www.SUIG.io.
About Sui Group Holdings Limited
SUI Group is the only publicly traded company with an official Sui Foundation relationship, providing institutional-grade exposure to the Sui blockchain. Sui’s
high-speed, horizontally scalable architecture positions it as one of the leading blockchains designed for mass adoption, powering next-generation applications in finance, gaming, agentic finance and beyond. Through its industry-first SUI treasury
strategy, SUI Group is building a premier, foundation-backed digital asset treasury platform designed for scale, transparency and long-term value creation. The Company also seeks to enhance balance sheet productivity by investing opportunistically in
the SUI ecosystem and allocating capital to high-conviction growth themes across the wider digital asset, financial technology and artificial intelligence sectors. The Company has continued its specialty finance operations while executing its SUI
treasury and high-conviction growth strategies. For more information, please visit www.SUIG.io.
Supplemental Information on mNAV
SUIG estimates its mNAV by dividing the aggregate value of its digital assets, cash balances and other NAV by the number of its outstanding common stock (including
pre-funded warrants). Using the closing price of SUIG common stock and SUI token price on November 2, 2026, SUIG is trading at an approximate mNAV of 0.72x, with calculation details below.
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M / NAV Calculation
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Outsanding Shares incl. Pre-Funded Warrants
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80,897
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Current Share Price [November 2, 2026]
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$1.03
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Market Cap
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$83,323
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SUI/Share
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1.35
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NAV
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||
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SUI Holdings
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$98,362
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- number
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109,290,995
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- current price [November 2, 2026]
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$0.90
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USDC / USDT / SuiUSDe / Cash (available for SUI purchases)
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$10,188
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Other NAV
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$7,815
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- portfolio investments
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$625
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- Nof1
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$3,000
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- Recursive Ai
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$3,030
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- other Net Assets
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$1,160
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NAV
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$116,365
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M/NAV
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0.72x
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Supplemental Measures
The Company uses mNAV to help assess the performance of its strategy of acquiring and deploying SUI in a manner the Company believes is accretive to shareholders. The
Company believes that mNAV can assist investors in understanding how the Company chooses to fund purchases of and deploy SUI and the value created by such purchases. Such metrics have inherent limitations including not taking into account that our
assets are subject to all existing and future liabilities. Such metrics are not, and should not be understood as financial performance, valuation, or liquidity measures and may not be comparable to similarly titled measures of other companies. Other
companies, including other companies with digital asset treasuries, may calculate mNAV or similarly titled metrics differently, limiting the usefulness of the measure for comparative purposes. Although mNAV incorporates the label “NAV,” it is not
equivalent to “net asset value” or “NAV” or any similar metric in the traditional financial context.
The trading price of the Company’s common stock is informed by numerous factors in addition to Company’s SUI holdings and its actual or potential shares of common stock
outstanding, and as a result, the trading price of the Company’s common stock can deviate significantly from the market value of the Company’s SUI holdings, and mNAV is not indicative or predictive of the trading price of the Company’s common stock.
Such metrics are merely supplements, not substitutes for the financial statements and other disclosures contained in the Company’s SEC filings. Investors should rely on
the financial statements and other disclosures contained in the Company’s SEC filings.
Non-GAAP Financial Information
This press release includes certain non‑GAAP financial measures that are not presented in accordance with U.S.
generally accepted accounting principles (“GAAP”). These non‑GAAP financial measures are mNAV, NAV (as used in the calculation of mNAV), SUI value, SUI per share (expressed in SUI tokens and in
U.S. dollars), and total revenue and other income.
SUI Group uses these non‑GAAP financial measures to supplement its GAAP results in order to provide investors with
additional insight into the Company’s SUI treasury and net assets at prevailing market prices, and to facilitate comparisons across reporting periods. Management believes these non‑GAAP measures
are useful to investors because they present the Company’s SUI holdings and certain other assets at prevailing market prices rather than at GAAP carrying values and, in the case of total revenue and other income, exclude net realized and unrealized
gains and losses on investments.
These non‑GAAP financial measures should not be considered in isolation or as a substitute for, or superior to,
financial measures prepared in accordance with GAAP. The principal limitations of these non‑GAAP measures are that they use prevailing market prices rather than GAAP carrying values and, in the case of total revenue and other income, exclude losses
that are required to be recorded under GAAP and that may have a material impact on the Company’s financial results. In addition, other companies, including companies in the digital asset and financial services industries, may calculate similarly
titled non‑GAAP measures differently, which limits their usefulness for comparative purposes.
To compensate for these limitations, SUI Group encourages investors to review the Company’s non‑GAAP financial
measures together with the most directly comparable GAAP financial measures, which are presented in the table below.
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GAAP to mNAV Reconciliation - thousands
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Total Shareholders' Equity - 30 Sep 2026
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133,409
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GAAP Adjustments 1
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Digital Asset Loan Receivable
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(6,006)
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Digital Assets
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(106,271)
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Digital Asset Receivable
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(23,510)
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Deferred Income
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10,871
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Other Adjustments 2
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SUI - Including Digital Asset Receivables
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98,361.896
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SuiUSDe
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10,035.434
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Movement in Cash Balances Since 30 Sep 2026
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(525.125)
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||
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NAV
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116,365.205
|
||
|
|
|
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Notes:
|
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1 - SUI tokens, digital asset receivables and deferred income as at 30 June 2026 reversed
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2- SUI tokens, SUI loans and SuiUSDe added back at prevailing market prices
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|||
Forward Looking Statements
This press release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements are neither historical facts nor assurances of future performance. You should not place undue reliance on any of these forward-looking statements. Forward-looking statements
can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “plan,” “should,” “estimate,” “continue,” “potential,” “will,” “seek,” “pursuing,” “working to,” “building,” “designed” or
other similar words and include the Company’s expectation of future performance contained herein. These statements include, but are not limited to, expectations regarding the Company’s future performance and growth, its ability to successfully
execute its strategic plans, the Company’s digital asset treasury, the implementation of the Company’s stablecoin strategy, and the nature and performance of digital assets held by the Company.
Forward-looking statements are subject to significant risks and uncertainties, many of which are beyond the Company’s control. Actual results may differ materially
from those expressed or implied in these statements due to various factors, including but not limited to: the inherent volatility and risks associated with investing in SUI, the risk that the Company’s stock price may be highly correlated to the
price of the digital assets that it holds, challenges in executing a treasury diversification strategy, the capabilities and limitations of the SUI blockchain, the competitive environment of the Company’s business among others, the inherent
uncertainties associated with the Company’s business strategy, risks relating to minority investments in other sectors including financial technology and artificial intelligence, risk of nonperformance by borrowers, service providers and other
counterparties, government regulation of cryptocurrencies; tax treatment of crypto assets; access to financing and dilution; the material weakness in ICFR; cyber and security breaches of Company or counterparties; conflicts of interest from
affiliates (Karatage); potential litigation; Company’s ability to achieve profitable operations and the risk factors and other factors noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, any Quarterly Reports on
Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission from time to time. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any
forward-looking statement. The Company disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the
date of this press release, except as may be required by law.
Contacts
Media Contact
Gasthalter & Co.
SUIG@gasthalter.com
Investor Relations Contact
Elevate IR
(720) 330-2829
SUIG@elevate-ir.com
SUI GROUP HOLDINGS LIMITED
CONDENSED BALANCE SHEETS
(In thousands, except for share and per share data)
|
September 30,
2026 (unaudited)
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December 31,
2025 (audited)
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|||||||
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Assets
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||||||||
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Current Assets
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||||||||
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Cash and cash equivalents
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$
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678
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$
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21,936
|
||||
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Equity investments
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616
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956
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||||||
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Debt investments
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—
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3,414
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||||||
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Interest and dividend receivable, net
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—
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758
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Digital asset loan receivable, net
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—
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1,305
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||||||
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Digital asset receivable, net
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—
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29
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||||||
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Prepaid expenses
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1,852
|
1,806
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Income tax receivable
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131
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131
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||||||
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Total current assets
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3,277
|
30,335
|
||||||
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Digital assets
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106,271
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147,415
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||||||
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Digital asset loan receivable, net
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6,006
|
2,306
|
||||||
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Digital asset receivable, net
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23,510
|
—
|
||||||
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Debt investments
|
—
|
10,244
|
||||||
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Equity investments
|
6,030
|
—
|
||||||
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Other assets
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9
|
65
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||||||
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Total Assets
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$
|
145,103
|
$
|
190,365
|
||||
|
Liabilities and Shareholders' Equity
|
||||||||
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Current Liabilities
|
||||||||
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Accounts payable and other liabilities
|
823
|
858
|
||||||
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Deferred income
|
10,871
|
11,859
|
||||||
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Total current liabilities
|
11,694
|
12,717
|
||||||
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Long Term Liabilities
|
||||||||
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Deferred income
|
—
|
7,906
|
||||||
|
Total long-term liabilities
|
—
|
7,906
|
||||||
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Total liabilities
|
$
|
11,694
|
$
|
20,623
|
||||
|
Commitments and Contingencies
|
—
|
—
|
||||||
|
Shareholders' Equity
|
||||||||
|
Common stock, par value $0.001 per share (2,000,000,000 authorized; 76,802,872 issued and outstanding)
|
77
|
77
|
||||||
|
Additional paid-in capital
|
437,632
|
431,800
|
||||||
|
Accumulated deficit
|
(304,300
|
)
|
(262,135
|
)
|
||||
|
Total shareholders' equity
|
133,409
|
169,742
|
||||||
|
Total liabilities and shareholders' equity
|
$
|
145,103
|
$
|
190,365
|
||||
See accompanying Notes to Financial Statements
SUI GROUP HOLDINGS LIMITED
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except for share and per share data)
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
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September 30,
2026
|
September 30,
2025
|
September 30,
2026
|
September 30,
2025
|
|||||||||||||
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Revenues
|
||||||||||||||||
|
SUI staking revenue
|
$
|
258
|
$
|
1,014
|
$
|
1,108
|
$
|
1,014
|
||||||||
|
Digital lending interest income
|
53
|
—
|
159
|
—
|
||||||||||||
|
Investment income
|
—
|
—
|
—
|
1,726
|
||||||||||||
|
Total Revenues
|
311
|
1,014
|
1,267
|
2,740
|
||||||||||||
|
Operating (Income) Expenses
|
||||||||||||||||
|
Professional fees
|
966
|
517
|
3,060
|
758
|
||||||||||||
|
Stock-based compensation
|
1,891
|
2,262
|
5,832
|
2,262
|
||||||||||||
|
Asset and strategic management fees
|
236
|
438
|
862
|
438
|
||||||||||||
|
Compensation expense
|
468
|
338
|
1,364
|
721
|
||||||||||||
|
Insurance
|
379
|
304
|
1,275
|
328
|
||||||||||||
|
Unrealized (gain) loss on digital assets and receivable, net
|
(82,686
|
)
|
60,764
|
(66,332
|
)
|
60,764
|
||||||||||
|
Realized loss on digital assets, net
|
27,964
|
—
|
81,729
|
—
|
||||||||||||
|
Impairment of digital asset receivable
|
—
|
—
|
1,367
|
—
|
||||||||||||
|
Provision for credit losses
|
1,004
|
—
|
2,074
|
—
|
||||||||||||
|
Net realized and unrealized gain on investments
|
—
|
—
|
—
|
(477
|
)
|
|||||||||||
|
Other general and administrative
|
240
|
54
|
437
|
101
|
||||||||||||
|
Total Operating (Income) Expenses
|
(49,538
|
)
|
64,677
|
31,668
|
64,895
|
|||||||||||
|
Operating Income (Loss)
|
$
|
49,849
|
$
|
(63,663
|
)
|
$
|
(30,401
|
)
|
$
|
(62,155
|
)
|
|||||
|
Other Income (Loss)
|
||||||||||||||||
|
Investment income
|
154
|
1,621
|
979
|
1,621
|
||||||||||||
|
Net realized and unrealized gain (loss) on investments
|
(2,405
|
)
|
525
|
(13,073
|
)
|
525
|
||||||||||
|
Other income
|
92
|
—
|
330
|
—
|
||||||||||||
|
Total Other Income (Loss)
|
(2,159
|
)
|
2,146
|
(11,764
|
)
|
2,146
|
||||||||||
|
Income (Loss) Before Taxes
|
$
|
47,690
|
$
|
(61,517
|
)
|
$
|
(42,165
|
)
|
$
|
(60,009
|
)
|
|||||
|
Provision for Income Taxes
|
—
|
(17,250
|
)
|
—
|
(16,871
|
)
|
||||||||||
|
Net Income (Loss)
|
$
|
47,690
|
$
|
(44,267
|
)
|
$
|
(42,165
|
)
|
$
|
(43,138
|
)
|
|||||
|
Earnings per Share
|
||||||||||||||||
|
Basic
|
$
|
0.59
|
$
|
(0.72
|
)
|
$
|
(0.52
|
)
|
$
|
(1.75
|
)
|
|||||
|
Diluted
|
$
|
0.59
|
$
|
(0.72
|
)
|
$
|
(0.52
|
)
|
$
|
(1.75
|
)
|
|||||
|
Weighted-average number of common shares outstanding - basic
|
80,896,554
|
61,132,687
|
80,896,554
|
24,706,108
|
||||||||||||
|
Weighted-average number of common shares outstanding - diluted
|
80,896,554
|
61,132,687
|
80,896,554
|
24,706,108
|
||||||||||||
See accompanying Notes to Financial Statements