Atlanticus Holdings Corp
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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.
Mar 31, 2025 · Filed May 8, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Financial Statements (Unaudited)Condensed Consolidated Balance Sheets
PART I--FINANCIAL INFORMATION
| ITEM 1. | FINANCIAL STATEMENTS |
|---|
Atlanticus Holdings Corporation and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Unrestricted cash and cash equivalents (including $164.3 million and $140.2 million associated with variable interest entities at March 31, 2025 and December 31, 2024, respectively) | $350,390 | $375,416 |
| Restricted cash and cash equivalents (including $86.9 million and $98.8 million associated with variable interest entities at March 31, 2025 and December 31, 2024, respectively) | 111,059 | 124,220 |
| Loans at fair value (including $2,622.4 million and $2,542.9 million associated with variable interest entities at March 31, 2025 and December 31, 2024, respectively) | 2,668,503 | 2,630,274 |
| Loans at amortized cost, net (including $4.8 million and $4.9 million of allowance for credit losses at March 31, 2025 and December 31, 2024, respectively; and $20.1 million and $19.8 million of deferred revenue at March 31, 2025 and December 31, 2024, respectively) | 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 | $3,272,165 | $3,270,707 |
| Liabilities | ||
| Accounts payable and accrued expenses | $81,108 | $72,088 |
| Operating lease liabilities | 24,145 | 24,188 |
| Notes payable, net (including $2,137.6 million and $2,128.0 million associated with variable interest entities at March 31, 2025 and December 31, 2024, respectively) | 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 (Note 10) | ||
| Preferred stock, no par value, 10,000,000 shares authorized: | ||
| Series A preferred stock, 400,000 shares issued and outstanding (liquidation preference - $40.0 million) at March 31, 2025 and December 31, 2024 (Note 5) (1) | 40,000 | 40,000 |
| Class B preferred units issued to noncontrolling interests (Note 5) | — | 50,000 |
| Shareholders' Equity | ||
| Series B preferred stock, no par value, 3,314,840 shares issued and outstanding at March 31, 2025 (liquidation preference - $82.9 million); 3,301,179 shares issued and outstanding at December 31, 2024 (liquidation preference - $82.5 million) (1) | — | — |
| 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 | $3,272,165 | $3,270,707 |
(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.
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