v3.26.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Portfolio revenue $ 400,242 $ 361,174 $ 790,261 $ 706,392
Changes in recoveries 71,115 55,599 133,855 77,063
Total debt purchasing revenue 471,357 416,773 924,116 783,455
Servicing revenue 18,228 22,300 38,866 44,847
Other revenues 2,287 3,049 4,301 6,595
Total revenues 491,872 442,122 967,283 834,897
Operating expenses        
Salaries and employee benefits 119,585 117,738 234,126 223,670
Cost of legal collections 96,599 79,649 185,820 147,662
General and administrative expenses 38,724 41,327 78,353 82,345
Other operating expenses 36,831 36,990 71,664 71,242
Collection agency commissions 6,119 8,374 12,456 15,247
Depreciation and amortization 7,112 7,311 13,970 14,655
Total operating expenses 304,970 291,389 596,389 554,821
Income from operations 186,902 150,733 370,894 280,076
Other expense        
Interest expense (73,907) (73,943) (146,957) (144,473)
Loss on extinguishment of debt (30,533) 0 (30,533) 0
Other income 385 1,226 1,175 2,873
Total other expense (104,055) (72,717) (176,315) (141,600)
Income before income taxes 82,847 78,016 194,579 138,476
Provision for income taxes (18,848) (19,295) (44,337) (32,959)
Net income $ 63,999 $ 58,721 $ 150,242 $ 105,517
Earnings per share:        
Basic (USD per share) $ 2.97 $ 2.50 $ 6.94 $ 4.45
Diluted (USD per share) $ 2.81 $ 2.49 $ 6.66 $ 4.41
Weighted average shares outstanding:        
Basic (shares) 21,554 23,507 21,640 23,692
Diluted (shares) 22,791 23,578 22,555 23,926