v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jan. 14, 2025
Mar. 31, 2026
Mar. 31, 2025
Operating activities      
Net (loss) income from continuing operations $ 45,090 $ (19,046) $ (6,450)
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Impairment charges 0 0 4,156
Depreciation and amortization 1,057 1,340 575
Losses on finance receivables and securitization debt, net 4,762 28,862 17,575
Losses on Warranties and GAP 407 1,764 1,780
Stock-based compensation expense 144 1,427 491
Amortization of unearned discounts on finance receivables at fair value (416)    
Non-cash reorganization items, net (51,741)    
Other, net 193 88 (652)
Changes in operating assets and liabilities:      
Originations of finance receivables, held for sale (14,337)    
Principal payments received on finance receivables, held for sale 6,481    
Other 169    
Interest receivable (164) 1,307 1,443
Other assets 5,178 859 (3,575)
Other liabilities (2,627) 1,674 1,946
Net cash provided by (used in) operating activities from continuing operations (5,804) 18,275 17,289
Net cash provided by (used in) operating activities from discontinued operations (207) 133 (452)
Net cash provided by (used in) operating activities (6,011) 18,408 16,837
Investing activities      
Purchases of finance receivables, held for investment at fair value   (113,495) (120,528)
Principal payments received on finance receivables, held for investment at fair value 2,985 85,765 73,217
Principal payments received on beneficial interests 147 217 446
Purchase of property and equipment (151) (1,536) (1,469)
Net cash (used in) provided by investing activities from continuing operations 2,981 (29,049) (48,334)
Net cash provided by investing activities from discontinued operations     637
Net cash (used in) provided by investing activities 2,981 (29,049) (47,697)
Financing activities      
Proceeds from borrowings under secured financing agreements   225,000 307,780
Principal repayment under secured financing agreements (16,676) (65,916) (34,281)
Proceeds from financing of beneficial interests in securitizations     16,223
Principal repayments of financing of beneficial interests in securitizations (1,028) (3,018) (2,045)
Proceeds from warehouse credit facilities 11,900 87,200 88,500
Repayments of warehouse credit facilities (8,094) (246,372) (338,031)
Proceeds from preferred units issued to noncontrolling interests of subsidiary, net of issuance costs   21,221  
Other financing activities   (73) (1,159)
Net cash provided by (used in) financing activities (13,898) 18,042 36,987
Net increase (decrease) in cash, cash equivalents and restricted cash (16,928) 7,401 6,127
Cash, cash equivalents and restricted cash at the beginning of period 78,369 66,298 61,441
Cash, cash equivalents and restricted cash at the end of period 61,441 73,699 67,568
Supplemental disclosure of cash flow information:      
Cash paid for interest 4,534 13,106 9,221
Cash paid for reorganization items, net $ 1,705    
Accrued and unpaid preferred stock dividends attributable to noncontrolling interests of subsidiary   571  
Cash paid for income taxes, net of (refunds)   $ (391) $ (137)