Atlanticus Holdings Corp
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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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.
Sep 30, 2024 · Filed Nov 7, 2024
ATLC$79.69-1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net income | $79,135 | $75,681 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion, net | 3,785 | 2,785 |
| Provision for credit losses | 9,323 | 1,551 |
| Deferred income tax expense | 19,590 | — |
| Income from accretion of discount associated with Loans at amortized cost, net | (18,897) | (17,408) |
| Income from merchant fees associated with Loans at fair value | (112,970) | (101,501) |
| Changes in fair value of loans | 549,161 | 505,505 |
| Amortization of debt issuance costs | 8,491 | 4,886 |
| Stock-based compensation costs | 2,969 | 2,870 |
| Lease liability payments | (2,253) | (1,116) |
| Changes in assets and liabilities: | ||
| Increase in uncollected fees on earning assets | (186,886) | (173,459) |
| (Decrease) increase in income tax liability | (202) | 20,487 |
| (Decrease) increase in accounts payable and accrued expenses | (1,026) | 4,957 |
| Other | (3,417) | 1,412 |
| Net cash provided by operating activities | 346,803 | 326,650 |
| Investing activities | ||
| Proceeds from recoveries on charged off receivables | 33,843 | 41,414 |
| Investments in earning assets | (2,002,048) | (1,860,302) |
| Proceeds from earning assets | 1,397,362 | 1,361,788 |
| Purchases and development of property | (193) | (3,909) |
| Net cash used in investing activities | (571,036) | (461,009) |
| Financing activities | ||
| Noncontrolling interests contributions | 3 | 4 |
| Noncontrolling interests distributions | (148) | — |
| Proceeds from issuance of Series B preferred stock, net of issuance costs | 1,071 | 1,118 |
| Preferred stock and preferred unit dividends | (19,738) | (18,650) |
| Proceeds from exercise of stock options | 71 | 3,090 |
| Purchase and retirement of outstanding stock and preferred units | (27,640) | (14,363) |
| Proceeds from issuance of Senior notes, net of issuance costs | 124,076 | — |
| Proceeds from borrowings | 629,134 | 671,951 |
| Repayment of borrowings | (481,540) | (541,964) |
| Net cash provided by financing activities | 225,289 | 101,186 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | — | 3 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 1,056 | (33,170) |
| Cash and cash equivalents and restricted cash at beginning of period | 383,653 | 433,192 |
| Cash and cash equivalents and restricted cash at end of period | $384,709 | $400,022 |
| Cash and cash equivalents, and restricted cash at end of period | ||
| Unrestricted cash and cash equivalents | $308,651 | $355,707 |
| Restricted cash and cash equivalents | 76,058 | 44,315 |
| Cash and cash equivalents, and restricted cash at end of period | $384,709 | $400,022 |
| Supplemental cash flow information | ||
| Cash paid for interest | $104,983 | $70,709 |
| Net cash income tax payments | $187 | $1,685 |
| Accretion of discount associated with issuance of subsidiary equity | $225 | $225 |
| Decrease in accrued and unpaid preferred stock and preferred unit dividends | $(1,047) | $(2) |
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