UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Revenues: | ||||
| Gain on loans, net | $ 36,772 | $ 24,229 | $ 61,348 | $ 39,881 |
| Other revenue | 3,300 | 2,881 | 7,330 | 5,698 |
| Net interest income | ||||
| Interest income | 14,157 | 9,397 | 24,602 | 18,033 |
| Interest expense | (10,085) | (4,245) | (16,583) | (9,099) |
| Net interest income | 4,072 | 5,152 | 8,019 | 8,934 |
| Total net revenues | 44,144 | 32,262 | 76,697 | 54,513 |
| Expenses: | ||||
| Compensation and benefits | 41,412 | 35,254 | 88,080 | 73,327 |
| General and administrative | 11,507 | 15,155 | 23,137 | 29,202 |
| Technology | 6,948 | 6,582 | 14,130 | 12,040 |
| Marketing and advertising | 11,140 | 8,531 | 19,827 | 13,085 |
| Loan origination expense | 3,923 | 791 | 6,426 | 3,368 |
| Depreciation and amortization | 3,535 | 7,990 | 7,510 | 17,064 |
| Other expenses/(Income) | 1,855 | (879) | 4,175 | (1,062) |
| Total Expenses | 80,320 | 73,424 | 163,285 | 147,024 |
| Loss before income tax expense | (36,176) | (41,162) | (86,588) | (92,511) |
| Income tax expense/(benefit) | 94 | 203 | 239 | 346 |
| Net Loss | (36,270) | (41,365) | (86,827) | (92,857) |
| Other comprehensive loss: | ||||
| Foreign currency translation adjustment, net of tax | 5,318 | 579 | 7,541 | 266 |
| Comprehensive loss | $ (30,952) | $ (40,786) | $ (79,286) | $ (92,591) |
| Loss per share attributable to common stockholders: | ||||
| Basic (in dollars per share) | $ (2.39) | $ (2.74) | $ (5.72) | $ (6.15) |
| Diluted (in dollars per share) | $ (2.39) | $ (2.74) | $ (5.72) | $ (6.15) |
| Weighted average common shares outstanding - basic (in shares) | 15,187,558 | 15,095,956 | 15,185,724 | 15,087,913 |
| Weighted average common shares outstanding - diluted (in shares) | 15,187,558 | 15,095,956 | 15,185,724 | 15,087,913 |
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- Definition Other Comprehensive Income (Loss), Excluding Foreign Currency Transaction and Translation Adjustment, Net of Tax No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Expenses paid for obtaining loans which includes expenses such as application and origination fees. No definition available.
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- References No definition available.
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- References No definition available.
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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