Atlanticus Holdings Corp

For the period ended Dec 31, 2024. Filed Mar 13, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 13, 2025

ATLC$79.69-1.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	For the Year Ended December 31,
	2024	2023
Operating activities
Net income	$110,106	$101,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	5,187	4,043
Provision for credit losses	16,368	2,152
Deferred income tax expense	30,493	37,825
Income from accretion of discount associated with Loans at amortized cost, net	(25,344)	(23,375)
Income from merchant fees associated with Loans at fair value	(144,344)	(123,505)
Changes in fair value of loans	733,471	689,577
Change in bank partner fees carried at fair value	1,448	—
Amortization of debt issuance costs	11,828	7,179
Stock-based compensation costs	3,897	3,783
Changes in assets and liabilities:
Decrease in lease liability	(3,014)	(1,871)
Increase in uncollected fees on earning assets	(269,914)	(247,353)
Increase (decrease) in income tax liability	(2,251)	(12,688)
(Decrease) increase in accounts payable and accrued expenses	2,535	18,414
Other	(1,061)	3,182
Net cash provided by operating activities	469,405	459,317
Investing activities
Proceeds from recoveries on charged off receivables	44,109	51,578
Investments in earning assets	(2,628,894)	(2,516,359)
Proceeds from earning assets	1,839,543	1,796,570
Purchases and development of property	(1,789)	(3,992)
Net cash used in investing activities	(747,031)	(672,203)
Financing activities
Noncontrolling interests contributions	53	4
Noncontrolling interests distributions	(148)	—
Proceeds from issuance of common stock	7,074	—
Proceeds from issuance of Series B preferred stock, net of issuance costs	1,082	1,118
Preferred stock and preferred unit dividends	(25,741)	(24,910)
Proceeds from exercise of stock options	984	3,405
Purchase and retirement of outstanding stock and preferred units	(52,674)	(17,673)
Proceeds from issuance of Senior notes, net of issuance costs	135,252	—
Proceeds from borrowings	893,971	955,278
Repayment of borrowings	(566,244)	(753,877)
Net cash provided by financing activities	393,609	163,345
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	—	2
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	115,983	(49,539)
Cash and cash equivalents and restricted cash equivalents at beginning of period	383,653	433,192
Cash and cash equivalents and restricted cash equivalents at end of period	$499,636	$383,653
Cash and cash equivalents, and restricted cash and cash equivalents at end of period
Unrestricted cash and cash equivalents	$375,416	$339,338
Restricted cash and cash equivalents	124,220	44,315
Cash and cash equivalents, and restricted cash and cash equivalents at end of period	$499,636	$383,653
Supplemental cash flow information
Cash paid for interest	$145,669	$99,450
Cash paid for income taxes, net of refunds	$229	$1,467
Accretion of discount associated with issuance of subsidiary equity	$250	$300
(Decrease) increase in accrued and unpaid preferred stock and preferred unit dividends	$(2,063)	$4

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