v3.25.2
Finance Receivables, Net
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Finance Receivables, Net Finance Receivables, Net
Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):

As of June 30,As of
December 31,
202520242024
Finance receivables, gross$311,424 $227,694 $294,166 
Merchant partner discounts and premiums, net(27,946)(16,935)(22,833)
Unearned origination fees(6,086)(5,397)(6,827)
Finance receivables, amortized cost277,392 205,362 264,506 
Less allowance for loan losses(122,874)(99,961)(117,005)
Finance receivables, net$154,518 $105,401 $147,501 

The following table details the changes in the allowance for loan losses (in thousands):

Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
Balance at beginning of period$118,342 $96,020 $117,005 $96,454 
Provision for loan losses41,761 31,116 78,121 61,534 
Charge-offs(40,078)(28,813)(78,497)(62,092)
Recoveries2,849 1,638 6,245 4,065 
Balance at end of period$122,874 $99,961 $122,874 $99,961 
The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of June 30, 2025 and 2024, by origination year (in thousands):
Origination Year
202520242023Total
As of June 30, 2025
Delinquency:
1 to 30 days past due$17,683 $9,968 $489 $28,140 
31 to 60 days past due9,946 6,998 348 17,292 
61 to 89 days past due (1)
6,189 5,853 321 12,363 
Total past due finance receivables33,818 22,819 1,158 57,795 
Current finance receivables143,543 72,667 3,387 219,597 
Finance receivables, amortized cost$177,361 $95,486 $4,545 $277,392 
Origination Year
202420232022Total
As of June 30, 2024
Delinquency:
1 to 30 days past due$12,057 $8,377 $519 $20,953 
31 to 60 days past due6,054 4,883 364 11,301 
61 to 89 days past due (1)
4,089 4,754 342 9,185 
Total past due finance receivables22,200 18,014 1,225 41,439 
Current finance receivables
103,684 56,747 3,492 163,923 
Finance receivables, amortized cost$125,884 $74,761 $4,717 $205,362 

(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.

The following table details the gross charge-offs of finance receivables for the six months ended June 30, 2025 and 2024, by origination year (in thousands):

Origination Year
2025202420232022Total
Finance receivables gross charge-offs:
Gross charge-offs during the six months ended June 30, 2025
$9,902 $63,060 $5,535 $— $78,497 
Gross charge-offs during the six months ended June 30, 2024
— 6,589 50,049 5,454 62,092