Jefferson Capital, Inc. / DE

For the period ended Mar 31, 2026. Filed May 14, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 14, 2026

JCAP$20.25+2.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Part I — Financial Information

Part 1. Financial Information** **

Combined and Condensed Consolidated Balance Sheets* *

(Unaudited, in Thousands)


· · As of March 31, · · As of December 31, ·
· · 2026 · · 2025 ·
Assets
Cash and cash equivalents	$26,249	$23,231
Restricted cash	19,359	24,320
Accounts receivable	15,108	12,245
Other assets	13,915	16,273
Investments in receivables, net	1,929,069	1,928,742
Credit card receivables (net of allowance for	15,130	16,312
credit losses of $1,663 and $1,784)
Property, plant and equipment, net	1,490	1,695
Other intangible assets, net	5,870	6,541
Goodwill	57,915	58,014
Total Assets	$2,084,105	$2,087,373

Liabilities
Accounts payable and accrued expenses	$89,899	$95,208
Other liabilities	3,891	4,179
Current tax liabilities	933	855
Deferred tax liabilities	113,186	101,957
Notes payable, net	1,433,321	1,409,039
Total Liabilities	$1,641,230	$1,611,238

Stockholders' Equity
Common Stock par value $0.0001 per share; 330,000,000 shares authorized as of March 31, 2026 and December 31, 2025 and 55,371,991 and 58,298,923 shares issued and outstanding as of March 31, 2026 and December 31, 2025	$6	$6
Additional paid-in capital	(41,024)	(49,549)
Retained earnings	486,548	522,632
Accumulated other comprehensive income (loss)	(2,655)	3,046
Total stockholders' equity	$442,875	$476,135
Total Liabilities and Stockholders' Equity	$2,084,105	$2,087,373

Combined and Condensed Consolidated Statements of Operations and Comprehensive Income* *

(Unaudited in Thousands, except Per Share amounts)


· · · ·
· · For the Three Months Ended March 31, ·
· · 2026 · · 2025 ·
Revenues
Total portfolio income	$157,606	$138,693
Changes in recoveries	7,057	3,621
Total portfolio revenue	164,663	142,314
Credit card revenue	1,735	1,898
Servicing revenue	10,041	10,731
Total Revenues	176,439	154,943
Provision for credit losses	624	542
Operating Expenses
Salaries and benefits	22,375	14,022
Servicing expenses	65,578	42,791
Depreciation and amortization	872	1,608
Professional fees	2,281	2,165
Other selling, general and administrative	4,524	4,549
Total Operating Expenses	95,630	65,135
Net Operating Income	80,185	89,266

Other Income (Expense)
Interest expense	(30,578)	(24,819)
Foreign exchange and other income (expense)	1,449	2,459
Total other expense	(29,129)	(22,360)
Income Before Income Taxes	51,056	66,906
Provision for income taxes	(13,422)	(2,679)
Net Income	37,634	64,227
Foreign currency translation gain / (loss)	(5,701)	3,884
Comprehensive Income	$31,933	$68,111

Earnings per share
Basic	$0.61	$—
Diluted	0.61	—
Weighted average common shares outstanding
Basic	55,589	—
Diluted	55,592	—

Combined and Condensed Consolidated Statements of Stockholder’s Equity* *

(Unaudited, in Thousands, except per share amounts)


· · · · · · · · Accumulated · · · · · · · · ·
· · · Common Stock · · Other Comprehensive · · · Additional · · · Retained · · · Total
· · Share · · Par · · Income (Loss) · · · Paid-in Capital · · · Earnings · · · Equity
Balance, December 31, 2025	58,299	$6	$3,046	$(49,549)	$522,632	476,135
Net income					37,634	37,634
Dividends to stockholders ($0.24 per share)					(14,805)	(14,805)
Shares issued	73	—			—	—
Shares repurchased	(3,000)	—			(58,912)	(58,912)
Stock based compensation				8,525		8,525
Foreign currency translation			(5,701)			(5,701)
Balance, March 31, 2026	55,372	$6	$(2,655)	$(41,024)	$486,548	$442,875


Balance, December 31, 2024			$(15,593)	$—	$398,122	$382,529
Net income					64,227	64,227
Distribution to members					(16,000)	(16,000)
Foreign currency translation			3,884			3,884
Balance, March 31, 2025	—	$—	$(11,709)	$—	$446,349	$434,640

Combined and Condensed Consolidated Statements of Cash Flows* *

(Unaudited,in Thousands)


· · ·
· · For the Three Months Ended March 31, ·
· · 2026 · · 2025 ·
Cash flows from operating activities
Net income	$37,634	$64,227
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation and amortization	872	1,608
Amortization of debt issuance costs	1,643	1,120
Provision for credit losses	624	542
Stock-based compensation	8,525	350
Deferred income tax	11,309	(18)
Changes in assets and liabilities:
Other assets	2,190	(1,484)
Accounts receivable	(2,968)	(6,557)
Accounts payable and accrued expenses	(20,189)	(8,108)
Net cash provided by operating activities	39,640	51,680
Cash flows from investing activities
Purchases of receivables, net	(149,705)	(175,222)
Purchases of credit card receivables	(5,466)	(6,123)
Collections applied to investments in receivables, net	145,235	118,502
Collections applied to credit card receivables	5,912	6,752
Purchases of property and equipment, net	—	(143)
Net cash used in investing activities	(4,024)	(56,234)
Cash flow from financing activities
Proceeds from notes payable	313,148	174,790
Payments on notes payable	(290,243)	(159,251)
Payment of debt issuance costs	—	(2)
Repurchase of common stock	(58,912)	—
Dividends paid to stockholders	—	(16,000)
Net used in financing activities	(36,007)	(463)
Exchange rate effects on cash balances held in foreign currencies	(1,552)	(2,819)
Net decrease in cash and cash equivalents and restricted cash	(1,943)	(7,836)
Cash and cash equivalents and restricted cash, beginning of period	47,551	38,243
Cash and cash equivalents and restricted cash, end of period	$45,608	$30,407

Combined and Condensed Consolidated Statements of Cash Flows

(Unaudited, in Thousands)


· · ·
· · For the Three Months Ended March 31, ·
· · 2026 · · 2025 ·
Supplemental cash flow disclosures
Interest paid	$28,935	$37,822
Income taxes paid	$2,330	$2,699

New leases assumed	$—	$127

Deferred tax liability recognized in connection with reorganization	$—	$—

The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents reported within the accompanying combined and condensed consolidated balance sheets that sum to the total of the same such amounts shown in the combined and condensed consolidated statements of cash flows:

Cash and cash equivalents	$26,249	$26,989
Restricted cash	19,359	3,418

Total cash and cash equivalents and restricted cash as shown in the combined and condensed consolidated statements of cash flows	$45,608	$30,407

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.