Atlanticus Holdings Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Atlanticus Holdings Corp reported revenue of $2.0B (+50.1% year on year) and net income of $122.2M (+9.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Consumer loans, including past due fees | $1.4B | $979.8M | $879.1M | $786.2M |
| Fees and related income on earning assets | $452.3M | $269.8M | $238.8M | $217.1M |
| Other revenue | $112.4M | $60.4M | $37.3M | $42.8M |
| Total operating revenue and other income | $2.0B | $1.3B | $1.2B | $1.0B |
| Other non-operating income | $39.0K | $1.5M | $630.0K | $809.0K |
| Total revenue and other income | $2.0B | $1.3B | $1.2B | $1.0B |
| Interest expense | ($301.9M) | ($160.2M) | ($109.3M) | ($81.9M) |
| Provision for credit losses | ($6.2M) | ($16.4M) | ($2.2M) | ($1.3M) |
| Increase (Decrease) in Fair Value of Loans and Fees Receivable Recorded at Fair Value | ($1.1B) | ($733.5M) | ($689.6M) | ($577.1M) |
| Net margin | $557.2M | $401.4M | $354.8M | $386.7M |
| Salaries and benefits | ($69.6M) | ($50.1M) | $43.9M | $43.1M |
| Card and loan servicing | ($160.8M) | ($118.4M) | $100.6M | $95.4M |
| Marketing and solicitation | ($113.3M) | ($56.2M) | $52.4M | $62.4M |
| Depreciation | ($5.8M) | ($2.7M) | $2.6M | $2.2M |
| Other | ($48.0M) | ($35.4M) | $26.7M | $34.4M |
| Total operating expenses | ($397.5M) | ($262.9M) | $226.2M | $237.5M |
| Income before income taxes | $159.7M | $138.6M | $128.6M | $149.3M |
| Income tax expense | ($39.1M) | ($28.5M) | ($26.6M) | ($14.7M) |
| Net income | $120.6M | $110.1M | $102.0M | $134.6M |
| Net loss attributable to noncontrolling interests | $1.6M | $1.2M | $891.0K | $985.0K |
| Net income attributable to controlling interests | $122.2M | $111.3M | $102.8M | $135.6M |
| Preferred stock and preferred unit dividends and discount accretion | ($10.4M) | ($23.9M) | ($25.2M) | ($25.1M) |
| Net income attributable to common shareholders | $111.8M | $87.4M | $77.6M | $110.5M |
| Net income attributable to common shareholders per common share—basic (in dollars per share) | $7.40 | $5.92 | $5.35 | $7.55 |
| Net income attributable to common shareholders per common share—diluted (in dollars per share) | $5.96 | $4.77 | $4.24 | $5.83 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Consumer loans, including past due fees | $545.1M | $529.4M | $341.2M | $276.4M |
| Fees and related income on earning assets | $150.9M | $110.4M | $123.6M | $94.3M |
| Other revenue | $48.4M | $39.7M | $30.6M | $23.2M |
| Total operating revenue and other income | $744.3M | $679.5M | $495.3M | $393.8M |
| Other non-operating income | $9.0K | $55.0K | ($616.0K) | $343.0K |
| Total revenue and other income | $744.3M | $679.6M | $494.7M | $394.2M |
| Interest expense | ($123.4M) | ($122.8M) | ($75.5M) | ($53.7M) |
| Provision for credit losses | ($1.0M) | ($1.6M) | ($1.5M) | ($1.4M) |
| Increase (Decrease) in Fair Value of Loans and Fees Receivable Recorded at Fair Value | ($396.3M) | ($365.5M) | ($276.9M) | ($216.8M) |
| Net margin | $223.6M | $189.7M | $140.8M | $122.3M |
| Salaries and benefits | ($27.3M) | ($28.6M) | ($18.2M) | ($13.4M) |
| Card and loan servicing | ($57.9M) | ($44.9M) | ($39.0M) | ($34.1M) |
| Marketing and solicitation | ($48.1M) | ($36.5M) | ($35.3M) | ($24.9M) |
| Depreciation and amortization | ($3.6M) | ($3.6M) | ($1.5M) | ($885.0K) |
| Other | ($20.7M) | ($17.2M) | ($14.3M) | ($8.9M) |
| Total operating expenses | ($157.6M) | ($130.9M) | ($108.3M) | ($82.2M) |
| Income before income taxes | $66.0M | $58.8M | $32.5M | $40.1M |
| Income tax expense | ($16.3M) | ($14.3M) | ($7.9M) | ($9.9M) |
| Net income | $49.7M | $44.6M | $24.6M | $30.3M |
| Net (loss) income attributable to noncontrolling interests | ($2.0K) | ($402.0K) | $389.0K | $283.0K |
| Net income attributable to controlling interests | $49.7M | $44.2M | $25.0M | $30.6M |
| Preferred stock and preferred unit dividends and discount accretion | ($2.3M) | ($2.3M) | ($2.3M) | ($2.2M) |
| Net income attributable to common shareholders | $47.4M | $41.9M | $22.7M | $28.4M |
| Net income attributable to common shareholders per common share—basic (in dollars per share) | $3.13 | $2.80 | $1.50 | $1.87 |
| Net income attributable to common shareholders per common share—diluted (in dollars per share) | $2.50 | $2.23 | $1.21 | $1.51 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Unrestricted cash and cash equivalents | $621.1M | $375.4M | $339.3M | $385.0M |
| Restricted cash and cash equivalents | $146.3M | $124.2M | $44.3M | $48.2M |
| Loans, interest and fees receivable, at fair value | $6.6B | $2.6B | $2.2B | $1.8B |
| Loans at amortized cost, net (including $4.1 million and $4.9 million of allowance for credit losses at December 31, 2025 and December 31, 2024, respectively; and $20.1 million and $19.8 million of deferred revenue at December 31, 2025 and December 31, 2024, respectively) | $82.9M | $84.3M | $2.3B | — |
| Property at cost, net of depreciation | $12.6M | $10.5M | $11.4M | $10.0M |
| Intangible assets, net (Note 3) | $30.3M | — | — | — |
| Operating lease right-of-use assets | $15.1M | $13.9M | $11.3M | $11.8M |
| Prepaid expenses and other assets | $67.0M | $32.1M | $27.9M | $27.4M |
| Total assets | $7.6B | $3.3B | $2.7B | $2.4B |
| Accounts Payable and Accrued Liabilities | $284.5M | $72.1M | $61.6M | $44.3M |
| Operating lease liabilities | $25.3M | $24.2M | $20.2M | $20.1M |
| Notes Payable, net held by VIEs | $5.8B | $2.2B | $1.9B | $1.7B |
| Senior notes, net | $698.6M | $281.6M | $144.5M | $144.4M |
| Income tax liability | $152.1M | $114.1M | $85.8M | $60.7M |
| Total liabilities | $7.0B | $2.7B | $2.2B | $1.9B |
| Series A preferred stock, 400,000 shares issued and outstanding (liquidation preference - $40.0 million) at December 31, 2025 and December 31, 2024 (Note 6) (1) | 40.0M | 90.0M | 140.3M | 139.9M |
| Series B preferred stock, no par value, 3,584,131 shares issued and outstanding at December 31, 2025 (liquidation preference - $89.6 million); 3,301,179 shares issued and outstanding at December 31, 2024 (liquidation preference - $82.5 million) (1) | 0 | 0 | 0 | 0 |
| Common stock, no par value, 150,000,000 shares authorized: 14,922,462 and 14,904,192 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 0 | 0 | 0 | 0 |
| Paid-in capital | $102.3M | $98.3M | $87.4M | $122.0M |
| Retained earnings | $506.4M | $394.6M | $307.3M | $204.4M |
| Total shareholders’ equity attributable to Atlanticus Holdings Corporation | $608.7M | $492.9M | $394.7M | $326.4M |
| Noncontrolling interests | ($4.9M) | ($3.5M) | ($2.3M) | ($1.4M) |
| Total equity | $603.8M | $489.4M | $392.4M | $325.0M |
| Total liabilities, shareholders' equity and temporary equity | $7.6B | $3.3B | $2.7B | $2.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalent | $555.2M | $651.1M | — | — |
| Restricted cash and cash equivalents | $90.0M | $152.9M | $100.9M | $153.8M |
| Loans, interest and fees receivable, at fair value | $6.7B | $6.5B | $6.4B | $3.0B |
| Loans at amortized cost, net (including $3.7 million and $4.1 million of allowance for credit losses at June 30, 2026 and December 31, 2025, respectively; and $18.2 million and $20.1 million of deferred revenue at June 30, 2026 and December 31, 2025, respectively) | $77.7M | $80.7M | $85.0M | $82.0M |
| Property at cost, net of depreciation | $10.9M | $11.8M | $13.5M | $13.7M |
| Intangible assets, net (Note 2) | $25.1M | $27.7M | $31.9M | — |
| Operating lease right-of-use assets | $13.9M | $14.5M | $15.6M | $13.7M |
| Prepaid expenses and other assets, net | $60.2M | $74.1M | $57.9M | $45.9M |
| Total assets | $7.5B | $7.5B | $7.1B | $3.6B |
| Accounts payable and accrued expenses | $275.3M | $258.3M | $253.1M | $112.8M |
| Operating lease liabilities | $23.6M | $24.5M | $25.9M | $24.0M |
| Notes Payable, net held by VIEs | $5.6B | $5.6B | $5.3B | $2.5B |
| Senior notes, net | $692.1M | $692.4M | $702.4M | $308.3M |
| Income tax liability | $184.4M | $168.5M | $140.9M | $132.8M |
| Total liabilities | $6.8B | $6.8B | $6.5B | $3.0B |
| Series A preferred stock, 400,000 shares issued and outstanding (liquidation preference - $40.0 million) at June 30, 2026 and December 31, 2025 (Note 5) (1) | 40.0M | 40.0M | 40.0M | 40.0M |
| Series B preferred stock, no par value, 3,584,646 shares issued and outstanding at June 30, 2026 (liquidation preference - $89.6 million); 3,584,131 shares issued and outstanding at December 31, 2025 (liquidation preference - $89.6 million) (1) | 0 | 0 | 0 | 0 |
| Common stock, no par value, 150,000,000 shares authorized: 15,170,081 and 14,922,462 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 0 | 0 | 0 | 0 |
| Paid-in capital | $106.2M | $100.1M | $115.7M | $112.4M |
| Retained earnings | $595.7M | $548.3M | $473.6M | $450.9M |
| Total shareholders’ equity attributable to Atlanticus Holdings Corporation | $701.9M | $648.4M | $589.3M | $563.3M |
| Noncontrolling interests | ($4.4M) | ($4.5M) | ($4.5M) | ($4.1M) |
| Total equity | $697.5M | $644.0M | $584.8M | $559.2M |
| Total liabilities, shareholders' equity and temporary equity | $7.5B | $7.5B | $7.1B | $3.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $120.6M | $110.1M | $102.0M | $134.6M |
| Depreciation, amortization and accretion, net | $9.9M | $5.2M | $4.0M | $4.8M |
| Provision for credit losses | $6.2M | $16.4M | $2.2M | $1.3M |
| Deferred income tax expense | $38.7M | $30.5M | $37.8M | — |
| Income from accretion of discount associated with Loans at amortized cost, net | ($27.2M) | ($25.3M) | ($146.9M) | ($137.2M) |
| Income from merchant fees associated with Loans at fair value | ($197.2M) | ($144.3M) | — | — |
| Changes in fair value of loans | $1.1B | $733.5M | $689.6M | $577.1M |
| Change in bank partner fees carried at fair value | $5.8M | $1.4M | — | — |
| Amortization of debt issuance costs | $18.5M | $11.8M | $7.2M | $5.1M |
| Stock-based compensation costs | $4.3M | $3.9M | $3.8M | $4.2M |
| Decrease in lease liability | ($3.5M) | ($3.0M) | ($1.9M) | ($4.1M) |
| Increase in uncollected fees on earning assets | ($446.9M) | ($269.9M) | ($247.4M) | ($252.7M) |
| Increase (decrease) in income tax liability | ($584.0K) | ($2.3M) | ($12.7M) | $10.4M |
| Increase in accounts payable and accrued expenses | $29.5M | — | — | — |
| Other | ($23.2M) | $2.5M | $18.4M | $4.3M |
| Net cash provided by operating activities | $638.0M | $469.4M | $459.3M | $346.1M |
| Proceeds from recoveries on charged off receivables | $71.5M | $44.1M | $51.6M | $32.4M |
| Investments in earning assets | ($4.4B) | ($2.6B) | ($2.5B) | ($2.5B) |
| Proceeds from earning assets | $2.9B | $1.8B | $1.8B | $1.8B |
| Acquisition of Mercury (net of cash acquired) | ($72.9M) | — | — | — |
| Purchases and development of property | ($5.0M) | ($1.8M) | ($4.0M) | ($4.9M) |
| Net cash used in investing activities | ($1.5B) | ($747.0M) | ($672.2M) | ($680.8M) |
| Noncontrolling interests contributions | $268.0K | $53.0K | $4.0K | $114.0K |
| Noncontrolling interests distributions | $0 | ($148.0K) | — | — |
| Proceeds from issuance of common stock | $11.6M | $7.1M | — | — |
| Proceeds from issuance of Series B preferred stock, net of issuance costs | $6.2M | $1.1M | $1.1M | $437.0K |
| Preferred stock and preferred unit dividends | ($12.4M) | ($25.7M) | ($24.9M) | ($24.8M) |
| Proceeds from exercise of stock options | $1.4M | $984.0K | $3.4M | $3.7M |
| Purchase and retirement of outstanding stock and preferred units | ($69.6M) | ($52.7M) | ($17.7M) | ($89.0M) |
| Proceeds from issuance of Senior notes, net of issuance costs | $425.6M | $135.3M | — | $0 |
| Proceeds from borrowings | $3.5B | $894.0M | $955.3M | $680.5M |
| Repayment of borrowings | ($2.7B) | ($566.2M) | ($753.9M) | ($309.8M) |
| Net cash provided by financing activities | $1.1B | $393.6M | $163.3M | $261.3M |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | $267.8M | $116.0M | ($49.5M) | ($73.4M) |
| Cash and cash equivalents and restricted cash equivalents at beginning of period | $499.6M | $383.7M | $433.2M | $506.6M |
| Cash and cash equivalents and restricted cash equivalents at end of period | $767.4M | $499.6M | — | — |
| Unrestricted cash and cash equivalents | $621.1M | $375.4M | — | — |
| Restricted cash and cash equivalents | $146.3M | $124.2M | — | — |
| Cash and cash equivalents, and restricted cash and cash equivalents at end of period | $767.4M | $499.6M | — | — |
| Cash paid for interest | $268.4M | $145.7M | $99.5M | $75.4M |
| Cash paid for income taxes, net of refunds | $1.0M | $229.0K | $1.5M | $4.2M |
| Accretion of discount associated with issuance of subsidiary equity | $0 | $250.0K | $300.0K | — |
| Decrease in accrued and unpaid preferred stock and preferred unit dividends | ($2.0M) | ($2.1M) | $4.0K | $1.0K |
| Cash assumed upon acquisition of Mercury | $93.7M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $94.3M | $44.6M | $86.0M | $61.4M |
| Depreciation, amortization and accretion, net | $10.1M | $5.1M | $5.8M | $3.3M |
| Provision for credit losses | $2.6M | $1.6M | $4.0M | $2.5M |
| Deferred income tax expense | $30.4M | $14.2M | $27.2M | $19.4M |
| Income from accretion of discount associated with Loans at amortized cost, net | ($14.2M) | ($7.0M) | ($20.2M) | ($13.4M) |
| Income from merchant fees associated with Loans at fair value | ($87.6M) | ($32.3M) | ($150.7M) | ($96.1M) |
| Changes in fair value of loans | $761.8M | $365.5M | $672.0M | $395.1M |
| Change in bank partner fees carried at fair value | ($8.8M) | ($9.6M) | $3.8M | $2.1M |
| Amortization of debt issuance costs | $13.0M | $4.7M | $13.5M | $8.1M |
| Stock-based compensation costs | $4.2M | $1.4M | $2.7M | $1.8M |
| Decrease in lease liability | ($2.6M) | ($1.3M) | ($2.3M) | ($1.5M) |
| Increase in uncollected fees on earning assets | ($265.2M) | ($90.9M) | ($266.6M) | ($144.6M) |
| Increase (decrease) in income tax liability | $1.9M | $2.1M | ($424.0K) | ($659.0K) |
| Increase in accounts payable and accrued expenses | $17.6M | ($3.6M) | $9.3M | — |
| Other | $5.8M | ($8.2M) | ($12.4M) | $40.6M |
| Net cash provided by operating activities | $563.3M | $286.3M | $371.7M | $264.3M |
| Proceeds from recoveries on charged off receivables | $50.4M | $21.3M | $47.3M | $32.2M |
| Investments in earning assets | ($3.1B) | ($1.4B) | ($2.7B) | ($1.5B) |
| Proceeds from earning assets | $2.6B | $1.3B | $1.7B | $1.0B |
| Purchases and development of property | ($318.0K) | ($250.0K) | ($4.9M) | ($4.8M) |
| Net cash used in investing activities | ($420.4M) | ($51.2M) | ($1.0B) | ($520.4M) |
| Noncontrolling interests contributions | $63.0K | $3.0K | $78.0K | $78.0K |
| Proceeds from issuance of common stock | $0 | $0 | $11.6M | $11.6M |
| Proceeds from issuance of Series B preferred stock, net of issuance costs | $12.0K | $12.0K | $5.8M | $3.5M |
| Preferred stock and preferred unit dividends | ($4.6M) | ($2.3M) | ($10.1M) | ($7.8M) |
| Proceeds from exercise of stock options | $3.6M | $294.0K | $562.0K | $405.0K |
| Purchase and retirement of outstanding stock and preferred units | ($3.9M) | ($3.8M) | ($53.2M) | ($53.2M) |
| Proceeds from issuance of Senior notes, net of issuance costs | $4.3M | $515.0K | $418.3M | $25.3M |
| Proceeds from borrowings | $2.1B | $543.5M | $1.4B | $894.7M |
| Repayment of borrowings | ($2.3B) | ($736.7M) | ($1.1B) | ($634.8M) |
| Net cash (used in) provided by financing activities | ($265.1M) | ($198.5M) | $681.9M | $239.8M |
| Net decrease in cash and cash equivalents and restricted cash and cash equivalents | ($122.2M) | $36.7M | $26.3M | ($16.4M) |
| Cash and cash equivalents and restricted cash equivalents at beginning of period | $767.4M | $767.4M | $499.6M | $499.6M |
| Cash and cash equivalents and restricted cash equivalents at end of period | $645.2M | $804.1M | $525.9M | $483.2M |
| Cash and cash equivalents | $555.2M | $651.1M | $425.0M | $329.4M |
| Restricted cash and cash equivalents | $90.0M | $152.9M | $100.9M | $153.8M |
| Cash and cash equivalents, and restricted cash and cash equivalents at end of period | $645.2M | $804.1M | $525.9M | $483.2M |
| Cash paid for interest | $238.9M | $135.2M | $163.0M | $90.3M |
| Cash paid for income taxes, net of refunds | ($1.7M) | ($2.1M) | $699.0K | $843.0K |
| Decrease in accrued and unpaid preferred stock and preferred unit dividends | $0 | $0 | ($2.0M) | ($2.0M) |
Atlanticus Holdings Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.